Issuu

Vol 05-16 May 2016

President’s Letter Page 1 MAIN MEETING: Past KREIA Presidents Share Secrets of Their Success Page 3 L.O.T.S. Program Page 4 Welcome, New Members! Page 4 Make Your Nominations for KREIA Elections Page 4 Member Spotlight Page 6 App Alert: CityMaps2Go takes Louisville map offline Page 14 Government Affairs Update Page 10 KREIA Photos Page 10 KREIA Mentor Workshops: Your Next Session Back Cover

Monthly Newsletter for KREIA Members

To All Fellow KREIA Members: What a great April meeting we had! Thanks for the panel of board members speaking and giving us the ins and outs to rehabbing houses to make fast cash! Let me start off by saying residential and commercial real estate is booming right now, and if you have ever thought Frank Miller about being in the business now is the time to take the leap and at least try it out part-time, part while you still have your regular income from your full-time job! May 26th, 2016, will be our next meeting, and this is one you will not want to miss! This will be better than any out-of-town out speaker we bring in to teach you guys, our fellow members. members If you want to change your life and get closer to your financial freedom and learn real estate secrets, you do not want to miss this! This meeting will feature past presidents of KREIA explaining how KREIA changed their lives by helping them learn more and become more efficient in real estate investing. You’ll find out how and why they have succeeded, and where they are today! You will not want to miss this one! one We will have a great mix of past presidents from the beginning and up to the present. So if you want to become successful in this industry, make sure you are in attendance and ask some of the most successful people in KREIA the many questions that you have, so you can become financially successful in Real Estate 101! If there are any concerns or suggestions with KREIA in general, please do not hesitate to contact me at News@kreia.com So we look forward to seeing everyone join us!

Sincerely, Your President, Frank Miller

Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional pro advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Your KREIA Leaders

President Frank Miller

Vice President Eric George

Secretary Treasurer Treasurer Elect Davie Coffey Mike Grinnan CPA Wally Kallbreir

Board of Directors

Mike Butler

Tamara West

George Foree

Marcus Anderson

Rue

Jamie

Erik

McFarland Greenwell Hitzelberger

Dan Jones

Fred Helm

Stephanie Gomez

Fred Butler

Melvin Weathers

KREIA Newsletter is published monthly and serves both as a newsletter and a reminder notice of your upcoming monthly meeting. KREIA is a members-only association focused on education, networking and resources for today’s investor and to educate real estate investors from the basics to the complex. We are an excellent choice for all levels of investors. Whether you are just starting out in real estate investing, or are working on your hundredth deal, KREIA can help you learn more, earn more, and have more fun doing it. To Subscribe to the KREIA Newsletter is simple and easy. Go to KREIA.com and join the Kentuckiana Real Estate Investors Association. Group Discounts are available. To Advertise in the KREIA Newsletter To Advertise on KREIA.com To Sponsor A Monthly Meeting To Sponsor A LOTS Program Please contact News@KREIA.com

KREIA Sponsorships Half Page Business Membership Ad + Table + Pre-Meeting Speaker Only $499

Business Card Membership: Ad Only $199

Event Sponsor: Meeting, LOTS, Parliamentarian Hank Schildknecht

Past President Dennis Erhard

Your KREIA leaders are involved and chair several committees to make KREIA happen every month for you and your fellow KREIA Members. Get involved with KREIA. You can help with the monthly meetings, L.O.T.S. Program, this newsletter, Saturday Workshops, Government Affairs, Social, Annual Picnic, Marketing, the new KREIA website and more PLUS You Get EXTRA KREIA Points for everything you do! Get phone and emails of all KREIA members with the new KREIA Online Member Directory.

Saturday Seminars, and more! -----------------------------------------------------

Place Your Ad Now at KREIA.com --------------------------------------------”KREIA Advertising is by far, hands down, the absolute best advertising dollar ever spent for Borders & Borders!”

Harry Borders, B&B Attorneys

Reach out and tell them they are doing a great job! (It makes them do more for KREIA!) Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

KREIA Past Presidents Share Secrets of Success The gathering on Thursday, May 26, will be a meeting of the minds Learn how some of our past presidents (and our current one) got where they are today — and how KREIA helped them get there! Four KREIA notables are scheduled to join the panel. Be at the main meeting by 7 p.m. to listen up to …

Rue McFarland

Mark Lechner

KREIA’s Hall of Presidents 1979 1981 1983 1985 1987 1988 1989 1991 1993 1994 1996 1997 1999 2001 2003 2005 2006 2008 2010 2011 2013 2015

1981 1983 1985 1987 1988 1989 1991 1993 1994 1996 1997 1999 2001 2003 2005 2006 2008 2010 2011 2013 2015

Noble Roberts ** Rue McFarland ** Gene Dyson ** Charles Bentley Gibb Kenny Ben Pulford Joe Hampton ** Jim Gardner ** Chris Dischinger ** Mark Lechner ** Larry Hall Chris McCarty ** Henry Schildknecht ** Rosetta Melton ** Mike Butler ** Nan Upton Mark Hass ** Jay Long ** Mark Schaffer Connie Horsey ** Dennis Erhard Frank Miller

** Denotes Ed Melton Award Recipient Compiled by Hank Schildknecht

5:30 p.m. Early Meeting: King Talks Credit Repair Dennis Erhard

Frank Miller

Hear valuable lessons from them on what not to do

when starting out. Find out what they would do differently if starting all over from scratch. Pick their brains! Learn from REAL PROs in the real estate world, here in Kentuckiana, in the Q&A session. Get your questions ready now.

Are there things on your report you think you can’t fix? Think again! Julia Cowen King, of King Financial Repair, will explain how to remove items from your credit report — and how she can get you additional funding. And find out what steps you can take with your tenants and buyers to get them “purchase-ready.”

Next Mentor Workshop: June 25 Learn the ins and outs of rental property management, from local landlords, at our next Saturday workshop training. See the back cover for a closer look at workshop sessions Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Welcome, New KREIA Members! Tyler Bromagen Matthew Davis Tim Day Jose Donis Dwayne Dowell Sue Forwith Paul Holliger Keashawn Hunter Lavell Jackson

Mike Kroupa Louise Martin Buie Clay Nieman Kurtis Salter Rose Simpson Chris Spoelker Ken Watkins Ben Yates Yueling Zhang

Featured Events

Upcoming Events

KREIA Elections: Nominate now KREIA is run by a board of directors consisting of five officers, 12 at-large board members, the immediate past president, and the parliamentarian. The five officers, president, vice president, secretary, treasurer and treasurer-elect are filled each year for one-year terms. The 12 at-large board members are elected for two-year terms, with six new members being elected each year. There are no term limits, and all incumbents may run for re-election if they so desire. Nominations will be taken from the floor at the May meeting for the five officer and six at-large board positions. As in previous years, nominations will be closed after the May meeting. The election will be held at the June regular meeting, and those elected will take office in July. If you would like to nominate someone to serve, or would like to run yourself, please contact me or be prepared to make a nomination from the floor at the April or May meeting. Only serious applicants need apply. If you have any questions about the governing process of KREIA, please feel free to give me a call. Hank Schildknecht Chairman of the Election Committee (502) 893-4494, hankatty@gmail.com

KREIA’s Mentor Workshop: Rental Property Management. Find out how to be a successful landlord from local pros in the trenches. Saturday, June 25, 2016

Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

From: Gordon Brown Home of the Innocents To: Rue McFarland KREIA Rue, Alan Johnson’s father

Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

App takes your maps offline Online maps have changed the game for anyone trying to figure out how to get from here to there. But for those rare times when you lose your connection — or it slows to a crawl — you might wish for an old, folded paper map. Don’t go low-tech: Try CityMaps2Go. This app lets you download a complete, offline city map for Louisville, and it offers offline maps for most any part of the globe. It’s customizable: “Drop pins” at the locations of your properties, then zoom out to see your empire at a glance. The app is available for iOS and Android in free and paid versions, and it supports your phone’s GPS feature.

Redeveloping distressed houses has been a passion of ours for years. We’re committed to nurturing neighborhoods one house at a time.

Blue Fish Properties

We work with the best real estate agents, contractors and specialists all committed to helping to create custom real estate solutions for our buyers, sellers and investors. Whether you’re looking to sell your home, buy a home or searching for a way to get higher returns on your investments, give us a call today!

Brock Halstead 502-386-4908

brockhals@gmail.com

Brock Halstead 502.354.7414 Carrie Halstead 502.354.7444

Rachel Richards E-mail rachel@LSTProperties.com Phone (502) 235-3235 Company Name LST Properties City You Grew Up In Cary, NC High School North Oldham High School

bluefishpropertiesinc.com

College Centre College Current or Previous Sales Rep, CUTCO Cutlery; Financial Advisor, Occupation(s) Hilliard Lyons; Au Pair, Italy Hobbies, Passions, Skiing, skydiving, eating cheeseburgers, and Fun piano, economics, investments, stock market, Italian language, traveling, golfing (or trying to golf), volunteering at Habitat for Humanity KREIA Member Since February 2015 Referred By Alex Parker Why Did You Join Once I became a full-time real estate KREIA? investor, I wanted to learn from others who were more experienced. Why Are You a Being a KREIA member means I get to KREIA Member? network and meet the top investors in Louisville, plus I get to learn tons of information at the monthly meetings. My favorite program is LOTS! Year Began Investing 2015 Properties/Units 5 Your Real Estate Rentals, wholesale, and flip (a little of Investing everything.) Mainly single family homes, but Preferences hoping to expand my horizons soon! Lessons Learned? Don't buy a property that's really far away! Your TOP TIPS for 1. One word... WINTERIZE Investors 2. Act with integrity. People can sense it and will work with you over someone else if they know you are a good person. 3. Never stop learning

Visit KREIA.com to View More Member Spotlights Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

ATTORNEYS AT LAW Representing real estate investors, mortgage companies, banks, builders and buyers since the early 1970s with…

Residential & Commercial Closings Title Searches 1031 Exchanges Business Formation Wills & Probate

Title Insurance Contract Prep & Review Powers of Attorney Investor Guidance

Practicing in Kentucky and Indiana

920 Dupont Road, Louisville, KY 40207 bordersandborders.com • (502) 894-9200 894 THIS IS AN ADVERTISEMENT

Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Quotable Quotes “You don’t learn to walk by following rules. You learn by doing, and falling over.” — Richard Branson “Leadership is a potent combination of strategy and character. But if you must be without one, be without the strategy.” — Norman Schwarzkopf “Only put off until tomorrow what you are willing to die having left undone.” — Pablo Picasso

GARRY L. SETTLE REGIONAL VICE PRESIDENT

Contact Garry for all of your home financing needs! Direct: 866-822-3545 Garry@CenturyMortgage.com Apply for Pre-Approval Online! www.CenturyMortgage.com/gsettle NMLS 13547

PRO-TECH FLOORING Floor Refinishing Specialist Hardwood Floors Installed Floor Repairs • Poly Recoating Dry Foam Carpet Cleaning Insured Member Office

Mobile

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966-9300 500-8775 961-5730 David Williams, Contractor

FREE ESTIMATES

Shaun Logsdon Auctioneer/Broker/Realtor “We can help you liquidate your real estate in a fair and lucrative manner.”

thelogsdongroup.com • (502) 657-9534 Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Government Affairs Update May 9th, 2016 The LM Planning Commission recommended changes to the current short-term rental or Airbnb Ordinance a few weeks back. They held a public hearing on April 11, and the following are the recommendations for the LM Council to consider. The commission unanimously recommended the following to Metro Council: • The city should define a short-term rental as a single-family home or duplex where a renter stays for fewer than 30 consecutive days; • Residences in the Old Louisville and Limerick Traditional Neighborhood Zoning District (TNZD) and properties that are not the owner’s primary residence should be required to obtain a conditional use permit to operate as short-term rentals; • Any homeowner who rents out his or her primary residence can do so by registering with Develop Louisville, paying a $25 fee, and remitting transient and sales taxes on the rentals. The same is recommended for commercial properties that are rented out as short-term dwellings; • The council should add an exemption in the city Land Development Code for people who only rent during special local events such as Kentucky Derby week and during the PGA tour but live in an area where a conditional use permit is required. Those individuals would still need to register with Develop Louisville, pay the fee and remit taxes but would avoid other hoops; • The council should require homeowners to provide adequate amounts of on- or off-street parking; • Council should consider imposing a liability insurance requirement in case of damage to a home or a neighbor’s property. Additionally, Council President David Yates has proposed an amendment to the ordinance that will allow property owners to rent their primary residence for a short term rental for Derby.

Dan Jones, left, shared his secrets for findng good contractors during last month’s KREIA Mentor Workshop Saturday classroom session on rehabbing. After class, KREIA members went on a field trip to a house near U of L that was undergoing rehab. Erik Hitzelberger, right, led the tour.

KREIA

Photos

Last month’s main meeting — on how to flip houses for “fat cash” — drew a packed house. Local rehabbers and KREIA board members Erik Hitzelberger and Dan Jones headed up the discussion.

Last month’s LOTS house was a spacious gem in the Highlands. Host Jake Tidmore said he had already put seven weeks of work into the house and that he expected to be finished within another three. He said he’d invested more than $100,000 into the rehab. Do you take photos at KREIA meetings, LOTS meetups and other KREIA events? Help us out! Send your snaps to News@kreia.com

Copyright MMXVI Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 509 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. perso The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other othe professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

PO Box 91225 Louisville, KY 40291 Return Service Requested

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PRE-Pay Now at KREIA.com and you could win a door prize!

Save the Date! June 25, 2016

Want to Be a Better Landlord? Landlord Mark your calendar for June 25! Come out to Home of the Innocents for some intensive training. Eric George is heading up an all-star cast of local landlords covering the best ways to:

Market for tenants Screen applicants Interpret landlord-tenant law Write leases

Systematize with software Handle move-ins ins & move-outs Accept payments

Whether you’re an old hand looking for a tune-up up or a newbie wanting to get started right, you can’t miss this!

KREIA Mentor Workshop Session 4: Rental Property Management Home of the Innocents, lower level of the Hockensmith Assessment Center 1100 E. Market St., Louisville, KY 40206 9 a.m. - 3 p.m.

COST: $99 for members; $149 with a guest; $149 for non-members. REGISTER NOW AT KREIA.COM! More Upcoming Workshops: July 30 — Wholesaling and Marketing Essentials October 29 — REO Foreclosures and Auctions 101