the investment news: march 2011
DESCRIPTION
The monthly newsletter for Mid-America Association of Real Estate Investors. A Real Estate Investing Trade Association based in the Kansas City Metro Area. Find us online at www.MAREInet.com.TRANSCRIPT
Investment News MI D - A ME R I C A A S S O C I A T I O N O F R E A L E S T A T E I N V E S T O R S
March 2011 NETWORKING : EDUCATION : COMMUNITY
March 8th Monthly Meeting
Page 2 MAREInet.com
Bob Wise & Julie Anderson
Attorneys at Law
Do you know the severe penalties for Non-Compliance?
What you don't know can hurt you!!
Renting Houses? Selling Houses? Selling Lease to Own? Are you a Realtor? Making Loans? Doing Appraisals?
Our focus with be on the Landlord Tenant Aspect, but . . .
These rules apply to everyone!
Whether we are renting, selling, or selling with lease-options or owner financing, one thing remains constant: we are all subject to compliance
with Federal Fair Housing Law, and severe penalties for non-compliance. Wouldn't it be a horrible thing to make a mistake, omission, or misunderstood
statement in an ad or to a prospect on the telephone, and face the possibility of being fined thousands to tens of thousands of dollars?
Find out the Law! Get Informed!
And Stay in Compliance in 2011! See page 23—1 hour PHP credit on Fair Housing
"Fair Housing Compliance"
It's Not an Option. It's the Law!
Investment News Page 3
Advertiser’s Directory
Features ׀ March 2011
Sherwin Williams 13 Realty Resource 19
Home Depot 13 AAA Screening 19
Constant Contact 13 MAREI University 19
Accurate Title 15 Rentals.com 19
RockStar Investor 15 kcmoHomeBuyer.com 25
Argentine Federal 17 Eric Deeter 25
Te-Tee Light Electric 17 Home Depot 25
8
Did you know
Fair Housing
Applies to
everyone. But
don’t let it
limit you in
sound busi-
ness deci-
sions.
26
New Lead
Paint Laws
went into ef-
fect April 22,
2010. Find
out if they ap-
ply to YOU.
In This Issue
March Meeting 2
MAREI Staff 5
Notes from Director 6
Member Pics 7
Do I have to lease to this Jerk? 8
Lead Paint Laws: Do they Apply to me? 10
Why are KCRAR Contracts so Long? 12
Professional Housing Provider 14
Economic Update 16
Squeeze Your Membership 18
Live Workshops 20
Calendar 22
Investment Opportunities 24
Lead Paint Laws 26
Contents MAREI News
Page 4 MAREInet.com
MAREI Notes
Contact Information
PO Box 8685, Prairie Village KS, 66208
Phone: 913-815-0111 Fax: 816-523-4440
Our Mission Statement Mid-America Association of Real Estate Investors is dedicated to promoting ethical real estate in-
vesting and to protect and promote the best interest of our membership through educational and
networking opportunities as well as community, legislative and public relations.
Legal Disclaimer MAREI does not exist to render and does not give legal, tax, economic or investment advice and
disclaims all liability for the action or inaction taken or not as a result of communications from or to
its members, officers, directors, employees and contractors. Each individual should consult his/her
own counsel, accountant and other advisors as to legal, tax, economic, investment and related
matters concerning real estate and other investments.
Content Disclaimer The views and opinions expressed by authors of articles contributed to this newsletter do not neces-
sarily reflect those of the association, the board of directors or the staff.
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Kim Tucker 816-523-4400
Director
Investment News Page 5
Don Tucker 816-523-4400
President
Steve Burns
Audio Visual
Dan Goodwin 913-642-5218
Meeting Ambassador
Shelda Goodwin
Meeting Ambassador
MAREI Staff
John Welchert
Meeting Ambassador
816-268-3849
Larry Prato
Commercial Subgroup
913-227-4693
Spencer Cullor
Commercial Subgroup
913-324-5900
Page 6 MAREInet.com
Second, I watched the coaches. The coaches have a game plan with the players they have on their team. The players have been coached on what to do and how to reach their goal of victory. They have practiced working together as a team and every player knows where they fit in and what they are sup-posed to do to accomplish the team’s goal. Real Estate is no different. You need to sit down and figure out your game plan and strategy. Then you need to recruit the best players to your team. As a coach you oversee what your team players are doing and make sure they are doing what you need to have done. You must practice as a team, and have meet-ings to re-evaluate the results. Have a few backup players warming the bench so when you have an injury, or you need to make a change or add a team player, you don’t have to look far from your bench. So be sure to network at all the live events: MAREI meetings, sub-group meetings, educational events, and outside MAREI events to find those key players for your team: Realtors, Lenders, Contractors, Ac-countants, Attorneys, Home Stagers, Clean Out Guys, Insurance People . . .
So have a great March and enjoy the Madness. Oh yes and go Cat’s (I graduated from K-State)
Kim Tucker
Director of MAREI
“Ok Kim, tell me how you are going to tie Basketball into real estate investing!” At my house there are two things that we talk about non-stop, real estate and any sport that involved a ball. In March that sport is Basketball. A few weeks ago I was watching KU thoroughly de-stroy some other team and I was struck how much basketball was like real estate investing. First the KU team is made up of a bunch of excep-tional players and each and every one of them re-members that it is a team sport. No one player alone on the team is going to make the team successful, but when they all work together in unison, toward the same goal, they win as a team.
Real Estate is much the same way, it is a team business. I am struck every day when we are trying to get everything completed, that we can’t do it alone or with 2 or 3 star play-ers. You need a well rounded team of players in your investing busi-ness: some that are great at re-bounds, some that are good with free throws, some that can drive it down the lane, someone who can sink those 3 pointers, and someone who is really tall!
You need a deep bench so when you need that guy or gal who can make that “buzzer beater shot”, you have them on your team.
Director’s Notes
A few weeks ago I was watching KU thoroughly de-
stroy some other team and I was struck much it
was like real estate investing.
Investment News Page 7
Get Involved
We are looking for a volunteer to help us with
taking photographs at the monthly meetings. If
you have a digital camera and can attend the
monthly meetings regularly, this would be a
great way to get to know the members.
Volunteers receive discounts on Membership
and or Outside Training Events.
For more information on becoming a volunteer,
Contact Kim Tucker, Director,
At [email protected] or call 913-208-3544
Page 8 MAREInet.com
Me: No.
Manager: I don't? Isn't that discrimination? Don't I have to treat everyone the same?
Me: Not necessarily. As long as your reason for not leasing to this person has nothing to do with this person's race, color, religion, national origin, sex, familial status or handicap, (the "protected classes" under the Fair Housing Acts), you don't have to lease to them.
Manager: If he is in the "protected class" don't I have to lease to him anyway?
Me: No. You do not have to rent to him just because he is in the "protected class". Your decision to deny the application is not based on this applicant's race, color, religion, na-tional origin, sex, familial status or handicap. You may deny the application for another rea-son. For example, the applicant could be in the "protected class", but if he refuses to fill out the application completely, you could re-fuse to lease to him based on that reason. It's all right as long as you would have rejected someone in the non-protected class for the same reason. However, you might want to document in your file the reason you rejected someone because you may have to defend the decision in the future.
Manager: You mean we can have a "No Jerks" policy?
Me: Yes. Just as you may have a policy that rejects applicants who have a criminal record, who do not have sufficient income, who have bad hygiene or who have bad credit history. The legal test is whether your decision is be-cause of the applicant's race, color, religion,
As an attorney, I represent property manage-ment companies and provide legal advice to apartment managers. Periodically, I have a conversation with a client that goes something like this:
Manager: This guy came in this week and ap-plied for an apartment. He is really obnoxious and I get "bad vibes" from him. Do I have to lease to him?
Me: Why does he give you "bad vibes"?
Manager: He has called every two hours to see if his application has been approved. Then, he puts me on hold every time he gets another call on his call waiting. He yelled at me when I told him that we would not be able to process his application without a copy of his driver's license. He has asked to see the same two apartments every day for the last week. He told my assistant manager that our staff was incompetent because we could not tell him how many cubic inches the refrigerator freezers have. He wants to see the resumes of the maintenance staff. He made one of my leasing agents cry. This guy is obnoxious and rude.
Me: Did he complete his application?
Manager: Yes. Good credit, no criminal his-tory, sufficient income. I verified the informa-tion on the application. He is qualified to be a tenant here.
Me: Do you have a written policy that outlines your admission criteria?
Manager: Yes, and he meets all of the criteria, but I can't imagine dealing with this guy for the next year. Do I have to lease to him?
Do I have to lease to
This
Charles Brown has quite a few articles on fair
housing on the internet. You can search for his
name or “Do I Have to Lease to this Jerk” to
find more of his articles. No website for him.
Investment News Page 9
national origin, sex, familial status or handicap. If your deci-sion is for some other reason, you are not violating the law.
Manager: What do I tell him about why I'm denying his appli-cation? Don't I have to give him a reason why we will not lease to him?
Me: No. As long as the reason is not based on his credit report you do not have to give a reason. I do recommend that you confirm all disapproved applications with a polite letter confirming their dis-approval but it is not required. In this situation, you do not have to state the reason for the disap-proval in the letter if you send one.
Managers are often surprised to hear that they do not have to lease to people who otherwise qualify to be tenants. The mis-conception is that they have to treat everyone the same. While is it a good idea to be consistent in your treatment of all tenants and prospective tenants, you do not have to treat everyone the same.
However, if you deny an appli-cant just because you don't like them, you run a greater risk of a discrimination claim if they are in the protected class. For example, say you deny the application of a Hispanic female who is in a wheelchair and has three minor children because she is obnox-ious and rude to you and your staff. A jury could more easily in-fer that your denial was based on some other reason (i.e. her dis-ability, her race, her familial status) than the fact that you did not like her behavior.
Be consistent in enforcing the policies, otherwise, it may be hard to prove that you did not discriminate against someone in
the "protected class" illegally. The problem with a "No Jerk's" policy is that it may be viewed by a jury as a pretext for discrimina-tion. In other words, a jury might think that your rejection of some-one based on their offensive be-havior is just an excuse that you are using to discriminate against them for some unlawful reason such as their race, color, religion, national origin, sex, familial status or handicap.
You should have a written policy that outlines your admission cri-teria for tenants. You may want to modify the written policy to in-clude a category for "Management Discretion". Your file should have some documen-tation that the basis for your de-nial was in accordance with your policy. If someone otherwise meets your admission criteria but you are not comfortable leasing to them, you may use the Man-agement Discretion category as the basis for rejecting the appli-cation. In addition, include notes of the specific conduct that you found to be offensive as well as the basis for your decision.
If you reject an applicant based on the applicant's obnoxious be-havior, be sure that their behav-ior is not due to a mental disabil-ity. The applicant may be in the "protected class" and you may be inadvertently denying their appli-cation based on a mental disabil-ity, which is reason for their unac-ceptable behavior.
The same question arises in lease renewals. Sometimes you lease to people who make life difficult for themselves and eve-ryone around them and you wish you had never leased to them. While their behavior may not warrant an eviction, you may de-cide to refuse to renew their
lease. As long as decision to deny the lease renewal is not be-cause of this tenant's race, color, religion, national origin, sex, fa-milial status or handicap, you do not have to re-new their lease. Like lease applications, you do not have to tell the tenant why you did not renew their lease.
Another factor comes into play in lease renewals. You may not re-fuse to renew a lease in retalia-tion for a tenant exercising his rights. Here, you must make the distinction between a tenant who is rude and obnoxious in making legitimate demands and assert-ing their legal rights and the ten-ant that is just rude and obnox-ious without merit. If a tenant has been obnoxious and pushy but in the context of asserting their le-gal rights such as requesting re-pairs, you should probably renew their lease. Otherwise, a jury could easily infer a motive of re-taliation. You would have a diffi-cult time proving that the reason for not renewing the lease was based solely on the tenant's con-duct and was unrelated to their exercising their legal rights.
Life is too short to have to put up with certain people as tenants. As long as your reason for not leasing to a person has nothing to do with their race, color, relig-ion, national origin, sex, familial status or handicap, you don't have to.
Charles Brown is an attorney
who invests in real estate in the
Austin, Texas area. He is Board
Certified in Residential and Com-
mercial Real Estate Law by the
Texas Board of Legal Specializa-
tion. He can be reached at 512-
476-8942.
Page 10 MAREInet.com
fication requirements. These require-ments must be met when working in a
tenant’s unit and or if work is to be done in common areas on or in the rental prop-
erty. The rule requires that tenants be made aware of the work to be done and
where it will be done in advance of start-ing the work.
When work is done inside their units, ten-
ants must be given an EPA published pamphlet titled “Renovate Right”. The
pamphlet explains the dangers of lead and what is required to protect their and
their family’s health and safety when work is being done at the property where
they live. If work is to be done in com-mon areas, the pamphlet can either be
given to tenants, or, notices can be posted telling tenants how they can re-
ceive the pamphlet at no cost to them. Tenants must also be given or
made aware how they can request a document titled the “Renovation Check-list”. The checklist documents the work
done and the lead safe work practices used to do the work. Under the rule the
landlord must maintain documentation proving these and other requirements
were met.
If the landlord does his own work on the rental property and or uses his/her own
employees to do so, the landlord must also become an EPA Certified RRP firm
(Continued on page 11)
Being a landlord brings with it many le-gal responsibilities related to lead paint
that, if not followed, can certainly eat away at any potential profits. There are
many rules to consider and be aware of, the most common being the lead disclo-
sure rules. Federal rules are one thing, but different rules in different states and
different cities can make it quite difficult for landlords to be confident they are
complying. Ignorance of the rules is not an excuse.
Lead disclosure related rules effecting
landlords have been around for some time now. Still, many landlords are not
aware of them and even many who are aware have been getting away with ig-
noring them. The EPA typically only pro-actively audits “bigger fish”, like large
apartment complex owners, rather than landlords with fewer properties. How-
ever, when tenants complain about or sue a landlord, their lawyers will often also use lead disclosure compliance as an
additional weapon in their arsenal. Now there is a new weapon tenants and their
lawyers can use as well.
Many landlords are not aware of the new RRP Lead rule which must be followed
when repairs, renovations, painting and or maintenance is done on their rental
properties. In addition to certain re-quired lead-safe work practices, the RRP
rule also includes building occupant noti-
Does it apply to me?
Article from Shawn Mccadden at
ShawnMcCadden.com
New Lead Paint Law
Investment News Page 11
and only use trained and certified workers to do the work. If you are a landlord doing your own work, see the list of documentation required to be kept listed on page 11. If the landlord
hires a contractor to do the work, the landlord does not need to be certified, but the contractor doing the work does. If a contractor does the work, the landlord is responsible to obtain from
the contractor and store all documentation required under the rule. For violations of the RRP rules landlords can be fined up to $37,500 per day, per violation.
***Keep in mind that the RRP fines will be in addition to any fines related to disclo-
sure rules.
Depending on the work performed, who sold it and who did the work, some or all of the following may be required:
Copy of the Certified Firm and Certified Renovator(s) certifications
Non certified worker training documentation
Proof of notification and or pre-education of owners, tenants, and or the parents of children
attending child occupied facilities.
Designation of Certified Renovator to the job
Information on and results of the use of EPA-recognized test kits provided by a Certified
Renovator who acted as a representative on the Certified Firm at the job site and who con-ducted testing for the presence of lead-based paint
on surfaces to be affected by the renovation
Lead based paint inspection reports provided by a
Certified Lead Inspector or Certified Lead Risk Asses-sor, if applicable
Any other signed and dated documents form the
owner(s) and/or residents regarding conduct of the renovation and requirements in the EPA RRP Rule
All reports required from the Certified Firm and Certified
Renovator by the EPA RRP Rule
Are You CERTIFIED?
Your FIRM?
Get CERTIFIED
APRIL 9th - See pg 21
Page 12 MAREInet.com
Let’s take a quick look at items that
should be in every contract:
The Subject Property: this must be
identified at a minimum by property address, the one the post office uses.
We should further identify it by the le-gal description and possibly the tax
identification number. Double check that you have it right and that what
the title or attorney writes up on the closing documents match, if not, you
might be buying the wrong property.
Price: Just how much is being paid
for the property. By writing it down we have an exact figure that can’t be
disputed.
Earnest Money: How much is the buyer putting down, who is going to
hold this money till closing, and what happens to it if the buyer does not
close. The disposition of the earnest money is such a big deal that there
are rules, regulations, and laws about it.
Dates: When is it closing, when will earnest money be paid and then de-
posited, when will inspections be com-pleted and when does the buyer have
to have loan approval are just some of the more common dates.
Contingencies: Most often used as a
way out of the contract, these are (Continued on page 13)
One would hope that through a bit of
negotiations a buyer and seller could come to an agreement on a sales price
and terms of the agreement and then take it to a successful closing. But un-
fortunately, this does not always hap-pen.
This is one of the main reasons the KCRAR (Kansas City Regional Associa-
tion of Realtors) contracts seem to add 2 to 3 pages every year. Because
someone somewhere had an issue that just was not covered in the contract.
So in an effort to make sure that every issue and contingency that could arise
to derail the transaction are written
down up front and to make sure the Realtors involved, the lenders in-
volved, and the title company also un-derstand what they are supposed to
be doing, the contracts keep growing.
As a part of the MAREI’s training pro-
gram and the National Professional Housing Provider (NaPHP) certification
we have been creating a few new classes on contracts. The first work-
shop: Contracts Part 1: takes a look at the basic contracts we see most of-
ten when we buy and sell residential real estate in the Kansas City Metro.
This workshop is planned for Friday
March 11th from 3pm to 4:30.
Why are KCRAR
Contracts so Long?
as well as the forms that
come into play when we are writing contracts on homes
that are potential short sales. Offered 03/23/2011
Part 3 will take a look at additional forms and con-
tracts we will utilize in the course of our investment
career: Options, Owner Fi-nancing, Subject to,
Leases, Lease Options, and Developing your own Con-
tracts.
While we will start in Part 1
with forms and contracts
from KCRAR, by Part 3 we will be reviewing contracts.
This class will be taught by 10 year Realtor Kim Tucker
with Realty Resource who has also been investing in
Kansas City for the same time period.
Realtors note that Kim re-cently completed a state of
Missouri Real Estate Audit, so we will be covering the
proper way to fill out these forms.
Investment News Page 13
written agreements that if x
happens, then y will follow. They are usually written in
order to allow a buyer time to perform the proper due
diligence: that the property is in the condition we think
it is, that it adheres to the use we want to put it to,
and that the buyer can in-deed get the proposed fi-
nancing and that the prop-erty will qualify for the fi-
nancing. Most often we see the contingency that the
home will pass several in-
spections before the buyer finally agrees to buy, if they
don’t, the buyer can back out or renegotiate.
Financing: Another form that takes up 3 or 4 pages
that has a bunch of contin-gencies that outlines in
specific the terms of financ-ing that need to be and
when the due diligence must be completed on the
part of the financing.
Lead Based Paint Disclo-
sure: An EPA mandated
form on all properties built
before 1978.
Seller’s Disclosure: Asks the seller a bunch of ques-
tions about their property to make sure they disclose
all material facts about the property to the potential
buyer.
There are several other
forms that we may find that deal with contingencies we
are seeing more often these days such as testing of air
conditioning in cold weather, testing for Radon
and the negotiation of a
short sale.
We are going to look at the
main contracts in depth in this workshop and then the
odd forms that we see on occasion.
This workshop is part of a 3 part series.
Part 2 takes a look at the forms and contracts used in
addition to or instead of KCRAR contracts when we
are buying Bank Owned Homes and HUD Properties
MAREIandCC.info
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Page 14 MAREInet.com
Mission: Enable…members to expand their education and knowledge via courses as valuable tools to attain successful goals and present a professional image to the public and government.
What is the PHP? PHP stands for the Professional Housing Provider program.
What is the PHP designation?
The PHP designation is a metrowide, educa-tion-based certification program designed to recognize the high level of knowledge and professionalism among the designation holder. It is sponsored and overseen by the Mid-America Association of Real Estate In-vestors (MAREI).
Why obtain the PHP designation? Only persons completing the educational re-quirements on the Course of Studywill be permitted to hold themselves out to the public as a Professional Housing Provider. The des-ignee will be recognized in the form of an award certificate and the right to use the des-
ignation, and should recognize that having a basic education in the topics outlined will increase his or her ability to reach their goals in real estate investing. Further, as MAREI and National REIA works to make the National PHP designation more recog-nizable, it is hoped that the PHP holders will have an advantage in dealing with legal and governmental bodies when a “my word against his” situation occurs. It will also aid in encouraging legislators to think of edu-cated investors as a larger group for political action. Other tangible benefits, including discounts on courses and educational mate-rials, may be added as the program devel-ops. Benefits
Professionalism – This level of high es-teem for Graduates is perceived by peers, the local media and local govern-ment officials.
Accreditation – Graduates qualify to use the PHP title and/or initials on their busi-ness cards, for rent signs, name badges, etc.
Awards – Personal certificate awarded to each graduate.
National PHP – Graduates from states with identical programs automatically qualify for the National Professional Housing Provider Award.
Keeping Track of Hours/Credits – Paper-work It is the responsibility of the individual candi-date to keep track of his/her own attendance certificates.
Professional
Housing Provider
PHP
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Investment News Page 15
MAREI to certify that you have completed the required courses.
How Will I Obtain Credits? The hours may be obtained through local association meet-ings and seminars, or through accredited courses taught out-side of the local association. All outside courses and seminars must meet the following re-quirements: they must be taught live; they must be pre-approved by the PHP commit-tee, and they must provide a certificate of attendance accept-able to the PHP Committee. Attendance In order to receive credit for any meeting, the candidate must be in attendance for at least 90% of the meeting. NO credit will be given for partial attendance. All candidates must have their at-tendance form stamped or ini-tialed at the beginning of the event and at the end of the event. Sometimes there are a number of investors who typically stand outside chatting for the majority of the lecture. This does not count as attendance at the meeting. Remember this certifi-cation reflects a high level of
education among the gradu-
ates.
Find out more and
download the Course of Study and Master Record
Sheet on the MAREI web-site. Look under Education.
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Page 16 MAREInet.com
time when there were 1,841new homes on the mar-
ket. Existing inventory this month of 13,558 is also
1% lower compared to 13,713 one month ago. The
existing inventory this month is 7% higher than it
was a year ago when the existing inventory was
12,620. New & existing inventory combined of
15,065 this month compared to 15,238 last month
represents a 1% decrease in the past month. One
year ago the inventory was 14,461 which represents
a 4% increase in total inventory over the past year.
Kansas City Region Supply of Homes on the
Market The Supply calculation is determined by tak-
ing the “Inventory” and dividing it by the “12 month
average of the number of Sales.” Generally speak-
ing, a 5-6 month supply of homes on the market
equates to a “balanced” market. When the supply
exceeds 6 months, the market begins to favor buy-
ers, and when the supply is less than 5 months the
market tends to favor sellers. Supply for combined
new and existing homes was 7.9 months of supply in
January which is slightly lower than December’s 8
months of supply. The existing home supply was 7.7
months for January which reflects little change from
7.8 months for December; the fourth month in a row
for decreases in supply of existing homes. The new
homes supply in January 2011 was 9.5 months,
hardly moving from December’s total of 9.6 months.
New home supply has continued to remain relatively
constant since January 2010; hovering around the 8
½ - 9 ½ month supply for the past year. There is a
slight buyer’s edge present in the new home market,
the existing home and combined markets.
See charts online at www.KCRAR.com, look under resources.
January 2011 Housing Statistics
Average Sales Price: The average new home price
this month ($328,459) is 3% higher than the same
month last year ($318,686). There were price in-
creases in three counties. The average existing home
price this month ($129,560) is 6% lower than one
year ago ($137,738).Three counties (Jackson,
Leavenworth and Miami) experienced increases in
average sales price for existing homes from the same
month last year. The average price for combined new
and existing homes in the region this month was
$143,626, which was 9% lower than the average
sales price of $157,833 for combined sales prices in
January 2010. Jackson, Miami and Platte counties
each experienced increases in the average sales
price for new & existing combined from the same
month last year.
Home Sales: New home sales this month of 91
represents a 13 % decrease from one year ago when
there were 104 new home sales in January. New
home sales decreased this month by 28% from the
past month when there were 126 new home sales.
However, the good news is that existing home sales
in January increased 6% from one year ago when
there were 1,075 sales, but were down 28% from last
month’s sales of 1,588 compared to this month’s
sales of 1,140. Combined home sales of existing and
new homes were 1,231 for January, which is also
down 28% from the total of 1,714 sales from a month
ago. This month’s combined total sales were 4% from
one year ago when there were 1,180 sales.
Inventory: New home inventory this month of 1,508
is down 1% compared to 1,525 new homes on the
market last month. The new home inventory for the
region is 18% lower than it was a year ago at this
Economic Update
December 2010
www.KCRAR.com
Investment News Page 17
$8,000 Discount
Month of March
WHAT IS NSP?
In response to the recent foreclosure crisis, the
federal government is providing Kansas City with
$7.3 million through the Neighborhood Stabi-
lization Program (NSP) to purchase and rehab
vacant, foreclosed homes in the urban core and
“Flexible rehab options
and purchase financing for
qualified investors!
Ann Wilkinson Vice President
Mortgage Loan Production 12501 Antioch Rd
Overland Park, KS 66213 Ph: (913) 402-1500
Fax: (913) 402-0673 [email protected]
www.ArgentineFed.com
The governments in the Kansas City region are cur-
rently conducting a study to identify barriers to hous-
ing choice, including discriminatory activities, in the
metropolitan area. The study will investigate many
different types of impediments to housing choice,
such as lack of affordable housing, zoning impedi-
ments, etc., and develop a plan for the region to ad-
dress the identified barriers.
In order for this study to be successful, they need in-put from those involved in any aspect of the housing industry. BBC Research and Consulting, the firm con-tracted with to conduct the study, will hold four com-munity meetings on Thursday, March 10 at four sites in the area (see calendar for details). You are invited to attend any one of these meetings. If you're unable to attend a meeting, you can still fill out the survey. See Calendar of Events.
TE-TEE LIGHT
ELECTRICAL SERVICES
Keeping you “In-Powered” with Superior Electrical Service!
FREE Estimates
FREE Consultations on Non-Emergency
24-hour Same Day Emergency Service
Licensed, Insured, Bonded
Serving Kansas & Missouri
George Z. Bai, Sr. - Owner
Office (816) 356-1870
Cell (816) 210-4710
Page 18 MAREInet.com
Besides all the awesome networking and exceptional speakers at the monthly meetings, are you taking advantage of everything MAREI has to offer you? As a member of MAREI you have a ton of benefits avail-able, all as a part of your annual membership dues:
Message Board: Did you know that when you post a message on the message board it goes out to all members who have valid email addresses?
Classifieds: We post every property that is in our classifieds at least once in the monthly newsletter and blast it out to the email database at least once.
Home Depot: A biannual rebate of 2% on your net purchases at the Home Depot and the Home Depot Tool Rental. We have seen several $300 checks here in Kansas City and one in Florida for $3,000 with this program for 6 months of purchases.
Sherwin-Williams: One of the most popular and easiest used. Take your discount card for up to 40% off on paint, paint supplies, & equipment, and where available floor coverings, and window treatments. Card included in your membership package.
FedEx Office: Up to 22% off shipping and up to 20% off on copy-ing and printing services at any Fed Ex Office.
Office Max: From printing & binding, to finishing & customization. Plus all your office supply needs. Offering discounts of up to 60%.
Rentals.com: Market your rental property online, for fewer vacan-cies on a top ranked website. Offering 20% discounts off regular price.
AAA Screening: Get exceptional screening service for all your tenants, contractors, and employees. Discounts on registration and all searches.
To access discounts, obtain codes, or to register
as needed, see instructions on the Member Dis-
counts Page in the Member Area!
Squeeze Your Membership!
Investment News Page 18
More Profits
On Demand Training
30 Minute Segments
Top Investor Trainers
From the Comfort of
Your own Internet Connection
Get Started Today
Take a FREE Trial
With Andy Heller
REO’s & Lease Options
More Information . . .
More Confidence
Tenant Screening
Pre Employment Screening
Contractor Screening
Collection Services
www.AAAScreening.com
816-436-0085
Discounts for MAREI Members
For Investors By Investors
In this market, you want an agent on your
side that has the knowledge, the ability,
the EXPERIENCE,
and the resources to help you!
Realty Resource
115 E Gregory, KCMO
816-523-4400
www.RealtyResourceKC.com
www.MAREIU.com
Do the math. Your vacancy is costing you every day. Fill your vacancy faster and save money
with Rentals.com!
Discounts for MAREI Members:
Receive 20% off all Regular
Priced Advertising. Log into
Member’s Area, click on Member
Discounts and look for MAREI’s
Discount code!
Page 20 MAREInet.com
TRAINING
Location:
Tucker One Prop. Bldg
115 E Gregory Kansas City, MO
Cost:
Members: $25.00
Non Member: $35.
Register On Calen-
dar of Events Online
at
www.MAREInet.com
Check the Calendar
www.MAREInet.com
5 Webinars in March
Date & Time:
Saturday
March 11,2011 3:00 pm to 4:30 pm
PHP Workshop: Contracts Part 1
Buying or selling, this is for you:
Standard Contracts & Assign ability
Buying in an Entity or Your Own Name
Closing Costs & Contingencies
Appraisals & Inspections
Disclosures
Much More
Part 2: March 23
Part 3: March 31
Investment News Page 21
EVENTS
Date & Time:
Location:
Cost:
Saturday
April 9th, 2011
Sylvester Powell Jr
Community Center
6200 Martway, Mission
Public: $250
Members: $225
Members: $199
Early Price
Register On Calendar
of Events Online at
Avoid Fines! Avoid
Prison! Get Certified!
Now is the time to become an EPA-certified reno-
vator and follow the specific work practices that
prevent lead contamination. MAREI is proud to
offer this full day seminar where you will receive
your personal RRP Training Certificate.
The new federal Lead-Based Paint Renovation,
Repair and Painting (RRP) Requirement applies to
anyone who performs work that disturbs paint on a
house built prior to 1978. This includes Contrac-
tors, Landlords, Property Managers, Apartment
Managers, Painters, Electricians, Plumbers, Win-
dow Installers, Pressure Washers, Realtors, Home
Renovators and many more!
Presented by MAREI & Kachina
Wed: 3/9 12:00 pm
Sat: 3/12 10:00 am
Date & Time:
Cost:
FREE to all, But limited
Phone Lines
Register On Calendar
of Events Online at
www.MAREInet.com.
Self Storage Investing Webinar
Did you miss the 1 day workshop? Here’s your last chance to
get your introduction to Self Storage Investing. Join us at one
of two webinars to get the low down on self storage and how
you can get in on this Residual Income Producing Business.
Visit the MAREI Calendar of Events
For more info & to Register
Page 22 MAREInet.com
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March 5 PHP
Workshop
Credit Scores from Career Education Sys-
tems 1.5 PHP and 3 Hours Continuing Ed
March 7 Deadline Reserve a Vendor Table for Monthly Meeting,
special price $25 for MAREI Members
March 8 Outside
Workshop
Crime Free Housing from the Independence
Police Department
March 8 Monthly
Meeting
Fair Housing with Bob Wise and Julie Ander-
son - offering 1.5 PHP
March 9 Webinar Self Storage Investing: Follow up webinar
2 days to choose from
March 11 PHP
Workshop
Contracts Part 1: Basic Contracts covering
KCRAR forms generally utilized 1.5 PHP
March 12 Networking Lee’s Summit Investors Networking Breakfast
March 12 Webinar Self Storage Investing: Follow up webinar
March 14 Networking Advanced Investors Focus Group: By Invita-
tion or Application Only
March 15 Webinar New Investor Member Orientation, Find out
what the benefits are at MAREI
March 16 Networking MAREI Commercial Investors Networking
Group:
March 22 PHP
Workshop
Credit Scores from Career Education Sys-
tems 1.5 PHP and 3 Hours Continuing Ed
March 23 PHP
Workshop
Contracts Part 2: Covering forms used in
REO, HUD and Short Sales 1.5 PHP
March 29 Committee Government Affairs Committee Meeting
March 30 Webinar How to Win in the Generosity Generation
March 30 Webinar Click 2 Mail & Mailing List Interface on Pur-
chasing Mailing Lists
March 30 Networking MAREI Commercial Investors Networking
Group:
March 31 Webinar Click 2 Mail and Using Mail Merge in Direct
Mail Marketing
March 31 PHP Contracts Part 3: Advanced Forms and Cre-
ating Your Own.
Investment News Page 23
Monthly Meeting
Sylvester Powell Jr
Community Center
6200 Martway, Mission KS
913-722-8200
Tuesday March 8 Doors open at 5:30
Members: FREE
Guest Fees: $25 at door . .
Pre-register online for $15
If guests join with in two days of
the meeting, their guest fee will be
applied to the membership fee with
proof of payment.
5:30 Set Up
5:40 Q & A Session till 6:00
6:00 Industry Partner Expo
6:00 Member Networking
7:00 Haves & Wants (Bring
your Deals)
7:30 Presentation –
Fair Housing
9:00 New Member
Registration
PHP Certification
Guest Speaker
Bob Wise
Eviction Attorney
www.BobWiseLaw.com
MO
Julie Anderson
Eviction Attorney
www.JulieAndersonLaw.com
KS, MO & NE
Location
6200 Martway
Mission, KS 66210
North of Shawnee Mission Pkwy
South of Johnson Dr
East of Lamar
Park in North Lot
2nd from the Building
Less Kids & Door Dings
Page 24 MAREInet.com
Offered As Address City Price Bed/
Bath
Contact Phone
Wholesale 7724 Washington Kansas City, MO $39,900 obo 3 / 1 Rick Zeitun 913-461-8560
Wholesale 3806 Wayne Ave Kansas City, MO $8,500 3 / 1 Christoph Becker 816-419-1165
Listing 9220 Oakland Kansas City, MO $45,000 3 / 1 Kim Tucker 816-523-4400
Wholesale 405 W Dartmouth Kansas City, MO $180,000 obo 5 / 3 Joe Reece 816-507-4203
Turn Key 4030 Vineyard Rd Kansas City, MO $55,000 4 / 2 Laura Johnson 732-670-4940
Wholesale 4123 Virginia Av Kansas City, MO $7,500 3 / 1 Christoph Becker 816-419-1165
Wholesale 4322 Lister Ave Kansas City, MO $16,500 obo 3 / 1 Christoph Becker 816-419-1165
Listing 10 Turn Key Kansas City, MO $344,000 Varies Eric Deeter 913-579-3354
Wholesale 3800 Chestnut Kansas City, MO $33,000 4 / 1.5 Makeba Hart 816-665-0491
Wholesale 4737 Norton Cir Kansas City, MO $24,500 3 / 1 Christoph Becker 816-419-1165
Wholesale 4522 Forest Ave Kansas City, MO $13,750 3 / 1 Christoph Becker 816-419-1165
Wholesale 4501 Cypress Ave Kansas City, MO $6,500 2 / 1 Christoph Becker 816-419-1165
L / O Fairway Hills Kansas City, MO $125,000 3 / 2 Ryan Walls 219-864-1788
Wholesale 2500 E 69th St Kansas City, MO $8,500 3 / 1 Christoph Becker 816-419-1165
Wholesale Wanted KCMO 3+ Ben Souchek Not listed
Wholesale 9517 Newton Kansas City, MO $59,900 3 / 1 David Ono 816-399-4994
Listing 5 Package Kansas City, MO Varies Varies JJ Pawlowski 816-877-8230
TFSBO 19 SF Houses Kansas City, MO $695,000 Varies Sunil Jain 913-526-1904
Classifieds Complete listings online: www.MAREInet.com
Investment News Page 25
Looking for Investment Properties
Looking for REO homes? Visit my site to sign up for the
Most current list of REO properties available!
Real Estate Investor / Agent with experience in Bank Owned, Short Sale, and Rental Properties
Eric Deeter
Realty Resource of KC
www.EricDeeter.com Call (913) 579-3354
Home Depot
2 % Bi-Annual Rebate for MAREI members Volume Discount Pricing
Call me to find out how you can save
on your next home renovation!
Roger Holyfield
(816) 510-9199
Market your
FSBO
TURNKEY
WHOLESALE
PAKCAGES
LISTINGS
Must Own,
Have Ownership Interest,
Or Listing Agreement
You must be able to sell
List in the MAREI
Classifieds
FREE Service for Members
MAREInet.com
Wholesalers, submit your properties at:
kcmoHomeBuyer.com
Do You ?
Page 26 MAREInet.com
that can shut down some older computers, just email a link to the web site.
Want to collect contact information on a web page. Using Google Forms you can ask questions and get answers that are saved on a master spreadsheet and receive an email notification. Great tool for collecting buyer or seller information.
Need to make an appointment, but you left you day planner on the kitchen table. Pull up your Google Calendar on your smart phone and make the appointment.
Ever have an issue with a website not work-ing on internet explorer or Firefox? Maybe your Facebook page just does not want to work today? Try it in the Google Chrome Browser.
Let’s say you accidentally open some online file or answer yes when you should say no, your computer now will not work correctly and you don’t have the time to go buy an antivirus software and install it, try the Anti-virus Products in the Google Pack.
Want to see when someone mentions you or your product online? How about when someone post the key word “motivated seller” and “Kansas city” on “craigslist”? Set up a Google Alert.
Have a seller call with an address and want to see where the house is, well look it up on Google Maps, look at the property view and
(Continued on page 27)
Microsoft ads tout “to the cloud” but com-petitor Google probably has the most tools to do your computing in the cloud.
When you have a computer and an internet connection you can access all of your files that are stored in the various online files or “clouds”. Rather than emailing files back and forth between others in your office when collaborating on a project. Gone are the days of needing to carry around all your files on a flash drive or even harder, carrying your computer with you. Just store them on the cloud and access from your home com-puter, your work computer, your iPad, or your smart phone.
To start your own online cloud or company intranet, check out the following on Google: Docs, Presentations, Spreadsheets, Gmail, Picasa, and You Tube.
Need a cheap, even free phone business phone number. One option with Google is running your cell phone through their service or you can obtain a totally new number. Al-though to get a new number you may have to check in every day for several weeks until one becomes available, but it’s worth it. Imagine a totally free phone number that of-fers caller id, call screening, transcriptions, emailed to you or texted to you.
Need to market a package of properties? Create a Website with Google Sites and load up Spreadsheets and Proformas of the property, add in a ton of photos from Picasa, add a video tour from YouTube. Then rather than emailing a pile of attachments
FREE Tools
Investment News Page 27
ask them if it is the beige or the brown house and blow their mind.
Oh yes, don’t forget if you want to find just about anything search for it on Google . Have a property owner you need to find? How about some strange phone number that keeps com-ing up on your caller id? Need to check out a Guru Speaker? Use the original Google Search Tool Bar and 9 times out of 10 you will find the answer.
Need a tool for your computer
or smart phone, search for it on Google Gadgets.
Every once in a while, take a look at Google Labs and see what they are testing out. To-day I see they have
App Investor for Android to al-low you to create your own mo-bile applications. This sounds really cool.
And rather than wasting com-puter file space consider creat-ing online photo albums and sharing them through Google Picasa. You can create albums
and movies and virtual tours all for free and then use them to market on all the Social Media Sites. You can also upload to YouTube. Likewise you can create and do basic video edit-ing for video email, virtual tours, and quick PR bits. All free, all online, and accessible from anywhere you can get the inter-net.
Your Complete Website (including hosting) is just
$39.90 per month
plus a one-time initial setup fee of $39.90
Risk Free - No Obligation - No Credit Card Required!
www.FREETrialWebsite.info
Calendar
Voice
Documents
Spreadsheets
Photos on Picasa
Video on YouTube
Forms & Sties
Alerts
Google Apps
INVESTOR
MEMBERSHIP
BUSINESS
MEMBERSHIP
informed MAREI
Professionals
targeted group
Of Clients
From Motivation to How To
Our Members Excel
Optimization of Your
Marketing Dollars
MAREI members are above the
crowd. They enjoy a informative
newsletter, blog, and social me-
dia experience. They connect,
ask questions, and share oppor-
tunities through the Member’s
Message Board. And they save
$100 using the many member
discounts.
MAREI sets the standard for real
estate investor networking and
education, drawing the type of
client you want to do business
with. Our meetings and online
presence gathers targets the
qualified leads your business
needs. But there is only one way
to get in front of them . . become
a Business Member today!
$99.00 / year
Additional Member $50
$499.00 / year
Includes Advertising
See the Membership Benefits tab under Membership
on our web site at www.MAREInet.com for more
info and look for our orientation webinar on the
calendar of events.
See the Business Benefits tab under Membership on
our website at www.MAREInet.com for more info or
call the office at 913-815-0111 .