Issuu

Vol 12-10

President’s Letter

Monthly Newsletter for KREIA Members

President’s Letter

page 1

Featured Speaker Panel of Experts

Hidden Liabilities for Landlords Bed Bugs, Lead, Radon, Abestos, Mold, Critters and more Great Article on Bed Bugs! page 3 and 5

5:30pm Pre-Meeting Attorney Hank Schildknecht New Law Against Landlords No.. Not My Dog! Now It Is Your Dog!

L.O.T.S. Program Tues. Oct 30th High Noon

Welcome NEW KREIA Members page 8

Member Spotlight! April Smith Page 10

KREIA Survey page 8

There are so many happenings to put on the calendar lately to be able to network and get involved in your real estate investing club. I hope you are taking advantage of all the great learning and networking opportunities. I know I am. If you don’t know what I am talking about, be sure and visit the web site, kreia.com for details. So far we have had a networking lunch at Corner Café, Friday happy hour at Selena’s in their fabulous outside garden area, and a pot luck picnic at Tom Sawyer Park. A great time was had by all who chose to partake in these. Keep watching for new dates and places. Thank you Jean Hall for putting all this together for us. Coming up we have the Holiday party that will be on the CQ Princess this year. It will take place on TUESDAY (not the usual Thursday) December 11. This is a very different format for our November/December meeting. While we continue with our traditions of the Ed Melton award and auction for the Home of the Innocents presentation, we will especially have some fun dancing and enjoying the sounds of Lamonte Gellispie band. Be sure to secure your tickets on the web site in advance for $37.00 before they run out. If there are any left after the next meeting on October 25, the price will be $50.00. Thanks to Dan Jones and Dennis Erhard for putting this together. We are always trying to come up with new ideas and this is one of them that is sure to be a lot of fun. For the best in education, don’t forget the upcoming OREIA convention in Cincinnati on November 8-11. Go to OREA.com for more details. This is 3 days well spent for serious learning provided by the top experts in real estate investing. Lastly, one of the most important events coming up is the U.S. Presidential election. I see so many people voicing passionate opinions on who the better candidate is. Please get informed and vote. Your country is depending on you and so is the real estate industry. Happy and successful investing! Your President,

Connie Horsey

Govt Affairs Update page 11

P.S. Please take photos at KREIA with your cell phone and email to KreiaTreasurer@gmail.com - No photos were sent in last month.

Copyright MMXII Kentuckiana Real Estate Investors Association•P.O. Box 17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

Your KREIA Leaders

President Connie Horsey

Vice President Dennis Erhard

Secretary Treasurer Treasurer Elect Chris McCarty Mike Grinnan CPA Aru Tarr

Board of Directors

Mike Butler

George Foree

Linda Brun

Duffy Ford

Eric George

Dan Jones

Jean Hall

Jay Long

Mark Hass

Rue McFarland

Frank Miller

Dick Vreeland

KREIA Newsletter published monthly and serves both as a newsletter and a reminder notice of your upcoming monthly meeting. KREIA is a member only association focused on education, networking, and resources for today’s investor. o 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 KreiaTreasurer@gmail.com

KREIA Sponsorships Diamond: Full Page Ad + Table + Pre-

Meeting Speaker Only $995 or $99 mo.

Gold: Half Page Ad + Table + PreMeeting Speaker Only $499

Silver: ¼ Page Ad Only $299 Parliamentarian Hank Schildknecht

Immediate Past President Mark Schaffer

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. Reach out and tell them they are doing a great job! (It makes them do more for KREIA!)

Business Card : Ad Only $149 Event Sponsor: Meeting, LOTS,

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

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

Your Featured Speaker! Hidden Liabilities Of Landlording! Panel of Experts Bed Bugs, Critters, Mold, Asbestos, LEAD Paint, Radon, EPA, & More!

BED BUGS! YUK!

Bed Bugs 411: What's Eating Me? Have you noticed little red marks on after waking in the morning? How about little bugs crawling around on your bed? If the answers to either or both these questions are yes, you may now be asking...

"What's Eating Me?" You may not like the answer, because you may have bed bugs. Bed bugs are brown to reddish-brown after a blood feeding with an oval and flattened top to bottom shape. They are about the size of an apple seed. Bed bugs have a "stay-hidden" behavior, are active at night, and venture out to feed on your blood.

Appearance: Bed bugs are flat, reddish brown, oval and about 3/16 inches in length. They are swollen and reddish after a blood meal.

Habit: Bed Bugs live in cracks and crevices, mattress seams, sheets, furniture, headboards, baseboards, and electrical outlets. Diet: Feed on blood. Reproduction: Females can deposit one to five eggs a day, and may lay up to 500 eggs in a lifetime.

LIFESPAN: Under normal living conditions they can live up to 300 days. Copyright MMXI Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

BED BUGS! Yuk! These hearty little critters and

BED BUGS Live MORE Than A Year Without Eating! Bed bugs do not result from poor sanitation or social status, but are spread as we go about our various daily concerns. They are not limited to the bed or the bedroom, but eventually move throughout your home. Bed bugs will crawl considerable distances to obtain a blood meal.

What to Look For Bed bugs hide in small spaces, cracks, and crevices near where you lounge, rest, and sleep. They can be found behind baseboards, upholstery and in any kind of furniture. You need to check wall-hangings, night stands, stuffed furniture, floorboard cracks, behind loose wallpaper, light switches, window treatments, and door and window frames. If an infestation is heavy, bed bugs may be found in wall voids, attics, and enclosed places. The most effective inspections are conducted by your certified pest management professional, especially EnviroSafe Pest Control. They can see signs of a bed bug infestation without actually seeing any bed bugs. Signs of infestation include small reddish-brown fecal spots on surfaces and sometimes a very sweet odor. Bug bites may also be indicators. If you wake up each morning with bites then you may have bed bugs. If you have bites that occur at different times of the day and in various locations such as at home, in your car, or at work, it is much less likely the cause is bed bugs.

Bed bugs can also stow away in suitcases, backpacks, and shoes. Take a look at yourself and folks in your home, kids at school, workplace, church, etc. Could any of the places visited by people in your home have been the cause of someone bringing Bed Bugs into your home. Also, what about guests who visit your home. Where have they been? Yes, it is a horrible thought, and you used to think lice was bad. (it still is and makes us cringe too)

Bed Bugs can enter your from things you purchase at retail stores - clothing, linens, and more. YES, this is absolutely true, even though things you buy that were made in China. They travel across the ocean in their containers and packages and remember, Bed Bugs can LIVE more than a year without eating! it does not matter if it is Wal-Mart, Target, K-Mart, a Pawn Shop, Macy's or Nieman Marcus! Bed Bugs are everywhere! Bed bugs have NOT been proven to spread disease through their bites. An actual bed bug sighting or a sample of a bed bug or egg is needed to be certain that you have an infestation or activity. Bed bug bites or symptoms might be clues, but cannot determine certainty of bed bug presence. ---- continued on page 6 >>>

How Did The Bed Bugs Get Here? Bed bugs can enter your home inside used furniture or from a visitor who has bed bugs in their home.

bets with other people’s money, and saying that we now need more federal oversight to prevent this from ever happening again. So the Department of Justice is going after Wells Fargo Bank for making these reckless loans. What if Wells Fargo had not made all of these risky loans? Well, the Attorney General has a complaint about that also. Luther Burbank Savings is a small bank located in the state of California. It had very strict and conservative loan requirements. Loans were made to only those with high credit scores and personal net worth, and it looked for a loan to value ratio of about 67%. It kept its loans in house, and nothing was sold on the secondary market. Thus its mortgage practice was such that you were only allowed to borrow the bank’s money if the lender really thought that you could pay it back, and if for any reason you didn’t, the lender was protected with the value of the underlying collateral. As a result of these draconian practices it had a foreclosure rate of only 1.75%. With many banks failing throughout the country because of their high delinquency rates, and the volume of foreclosures at fifty year highs, one would think the bureaucrats in Washington would award this bank with a blue ribbon for its prudent lending policies and saving the FDIC millions of dollars of taxpayers’ funds. However, Eric Holder’s response was a lawsuit. (Eric Holder is the current U. S. Attorney General appointed by you know who.)

Banks and bankers are easy targets these days. Almost as easy as lawyers. But you almost have to feel sorry for the predicament they are in under the conflicting policies under the current administration in Washington.

The allegation was that since its foreclosure rate was a mere 1.75%, it was obviously not making enough risky loans. A clear cut case of discrimination was evident, even though the government could not find a single victim. As a result of this legal action, Luther Burbank was forced to modify its lending practices to now make risky and reckless loans.

One of the lead stories coming out of Washington D.C. this month (other than the election and the ever changing spin of the invasion of the U S embassy in Libya) is the lawsuit that the Attorney General has brought against Wells Fargo Bank. The charge – making reckless loans. That is, making loans under the mandates that have been dictated to them from Washington since the National Homeownership Strategy was established in 1995.

My thoughts are there does need to be some federal guidance on making loans. What is the happy medium between making too many reckless loans (like Wells Fargo) and not enough risky loans (like Luther Burbank).

Since 1996 annual goals were directed to Fannie Mae and Freddie Mac to increase the proportion of mortgages made to low and moderate income families. It began at 40% when first established in 1996 and gradually rose each year until the peak of 57% was reached in 2008, generally the year cited as the time the deck of cards started collapsing.

However, if I were a banker I would immediately dive under my desk.

Thus now Wells Fargo has been charged with making too many loans that failed – loans that they were forced to make to low-income people that could not be repaid – imagine that. The politicians, yes the same ones that advocated the policies that forced the banks to make these loans in the first place, are currently demonizing the banks for making these risky

Attorney at Law

We would all cringe if someone walks into our place of business and announces “I’m from the federal government and I’m here to help you.”

Henry Schildknecht

The views expressed in the above article do not (necessarily) reflect the viewpoint of KREIA, or any member of the Board.

Bed Bugs! Yuk! Call in the Pros It may be possible to reduce bed bug populations in your home, but it is virtually impossible to eliminate every bug without the services of a pest management professional. Even if one adult female survives, your home could become re-infested. Sleeping in a different room or vacating your home is not a solution, and can make the problem more difficult to eliminate. There are many pests you may try and control on your own, but bed bugs should not be one of them. Call a professional pest management company. When working with a pest management company that offers a guarantee, you should ask what the guarantee covers. Are you guaranteed complete bed bug elimination? How long is the guarantee? Most guarantees will be limited to a period of time, or if a preventative program, will be ongoing with a service agreement.

Your KREIA Calendar Oct. 25th – KREIA Meeting Panel of Experts “Hidden Liabilities of Landlords” 5:30pm Pre-Meeting: Attorney Hank Attorney – “No More ‘Not My Dog’” New Law against Landlords explained. Oct 26th – 12pm at Corner Café in Lyndon – Brainstorming Lunch Oct 30th – L.O.T.S. Program 1035 E. Caldwell hosted by Eric George Nov 2nd – Friday 5pm - ? Happy Hour at BrickHouse Tavern on Hurstbourne Pkwy Nov. 6th – ELECTION DAY – VOTE!! Nov 22nd – Thanksgiving NO MEETING Dec 11th – Nov/Dec Meeting – KREIA Holiday Meeting Cruise on the CQ Princess – Ed Melton Award, Auctions to Benefit Home of the Innocents, LIVE Music with the Lamont Gallispie 100 Proof Band. Dec 18th – L.O.T.S. Home of the Innocents Have a SAFE and Happy Holiday Season!

Now you have the bed bug basics, YESTERDAY is the time to get rid of what's eating you.

Dec 25th – Christmas Day!

Contact Johnny Ackerman at EnviroSafe today to arrange your professional help for your units, including KREIA member discounted “certified free of bed bugs” program.

Jan 24th KREIA Meeting: Tax Updates with Mike Grinnan CPA

Jan 1st – New Year’s Day!

Jan 29th 12noon – L.O.T.S. Program

John Ackerman http://EnviroSafePC.com

502-425-8110

Get Your Tickets Now for KREIA Holiday Meeting

http://kreia.com/dec11 Copyright MMXII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

YOU Are Invited!

Holiday Meeting Dinner Cruise! Prizes! Auctions! Food! LIVE Music! DATE: Tuesday, December 11, 2012 TIME: 6pm – 9pm LOCATION: Captain’s Quarters Restaurant on board the CQ Princess Dinner Cruise Ship

Admission: $50 Early Bird Registration - SAVE $13 Now!

Only $37

Dec 11th – Nov/Dec Meeting – KREIA Holiday Meeting Cruise on the CQ Princess – Ed Melton Award, Auctions to Benefit Home of the Innocents, LIVE Music with the Lamont Gellispie 100 Proof Band. Dec 18th – L.O.T.S. Home of the Innocents Have a SAFE and Happy Holiday Season! Dec 25th – Christmas Day! Jan 1st – New Year’s Day! HAPPY NEW YEAR! Jan 24th KREIA Meeting: Tax Updates with Mike Grinnan CPA Jan 29th 12noon – L.O.T.S. Program

use promo code "cq" expires midnight on October 25th

http://kreia.com/dec11 Ed Melton Award LIVE Rick Wardlow Auctions to Benefit Home of the Innocents!

LIVE Music Lamont Gellispie & 100 Proof Band

KREIA’s Annual Campaign Fundraiser Presentation to Home of the Innocents Copyright MMXII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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 Members! Javan Montgomery

Delmar Glenn

Osia Craig

Brian Hudson

Charlotte Hollkamp

David Chandler

Beth Butler

Matthew Festa

Robert Bell

April Smith April Smith joined KREIA almost years ago and has been a real estate investor since joining. April said she started investing out of necessity.

KREIA SURVEY 30 second KREIA Member Survey at http://KREIA.com/survey

April moved to Louisville to be with her fiancé and she had to turn her house into a rental because of the market. Now she has 2 single family rental houses and is looking forward to adding more to her portfolio. April is finishing up real estate school to become a Kentucky licensed Sales Associate. (Real Estate Agent) Originally from Michigan; near Traverse City, April was engaged and married in September. April two biggest fans are her dogs, Cal and Kona. Other than real estate she is a nanny for a family in the highlands. April also teaches life guarding, CPR and first aid. She teaches these classes at the YMCA and for the American Red Cross. April Smith Smith3ad@gmail.com

You Can NOT Complain If You Do NOT Vote!

Remember To VOTE November 6th

L.O.T.S. Program Tuesday , Oct 30

Will be announced at Meeting Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

Invite a Friend to KREIA! Attend Your Next KREIA Meeting for FREE! By Mike Butler

Brand New “Invite A Friend To KREIA Program” allows YOU to attend your next meeting for FREE! How It Works: 1. At your next KREIA Meeting, go to the membership table and ask for 10 KREIA Business Cards. 2. You must sign the sheet showing how many KREIA Cards have been signed out by You. Most members will sign out 10 cards at a time; however, if you have an office or you expect to run into many investors in your line of work, you may request to get 25 cards (max) to display in your lobby, on your desk, etc. 3. IMMEDIATELY, while at the Membership Table, legibly PRINT Your Name on the backside of each card in the “Referred By:” field. 4. Now you can begin using the KREIA Business Card Program to get your next meeting for free. 5. Simply hand out your KREIA Cards (with your name already pre-printed on the backside) to folks who you feel would or could benefit from joining KREIA. The KREIA Card you give them allows real true “guests,” not former members who let their membership lapse, to attend a meeting for Only $10 – thanks to you. They will submit their $10 Meeting Coupon at the door and their card already has your name on the back. 6. When your guest turns in your card, joins KREIA and becomes a member, you will get your next meeting absolutely Free. This is not ANY meeting, or meeting of your choice, but the next monthly meeting following the month your guest joins KREIA.

What Are You Waiting For? Get Going Now! Sign Out at least 10 KREIA Business Cards on Thursday and let’s get KREIA to be THE MEETING of the Month for all local real estate investors! Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. 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.

Government Affairs Update October 8, 2012 Louisville Metro Government An ordinance that was introduced in 2010 dealing with maximum permitted density in C-1 zoning districts 502.897.6060 has resurfaced in the Metro Council. ruemac@bellsouth.net Originally, the ordinance would reduce the maximum density allowed in C-1 zoning districts from 34.8 units per acre to 12.1 units per acre. When it first came up for consideration before the Metro Council, it was returned to the Planning, Zoning, Land Design and Development Committee for further review, as there were concerns from Metro Council members, constituent groups and the planning commission. In December 2011, the committee voted to permanently table the ordinance. Councilmen James Peden and Rick Blackwell, who supported the ordinance, filed a discharge petition. The discharge petition would force the ordinance out of the Planning, Zoning, Land Design and Development committee and require the full Metro Council to vote on the measure. The measure was ultimately reassigned to the Ad Hoc Committee on the Land Development Code for further study. The committee members are working toward a compromise that was introduced in the form of an amendment. The measure was discussed and the committee decided to table the ordinance, as there were still concerns with the amendment. Representatives of the Greater Louisville Association of Realtors® will provide updates as this progresses (Louisville Metro Council). Rue McFarland Government Affairs Committee Chair

Rue McFarland

PO Box 17592 Louisville, KY 40217 Return Service Requested

.com

Oct 25th Monthly Meeting at Woodhaven Country Club

KREIA’s Panel of Local Experts

“Hidden Landlord Liabilities” Bed Bugs, LEAD, Radon, Asbestos, MOLD & More! 5:30 Pre-Meeting

NEW Anti-Landlord Law Did You Know YOU Are The Proud Owner of Their Animals? Attorney Hank Schildknecht – Do NOT Miss This One! KREIA Holiday Meeting Dinner Cruise DISCOUNT Expires Oct 25th http://kreia.com/dec11 Register Online Now!