Vol 15-04 April 2015
President’s Letter page 1
Welcome New Members! page 4 Jeffrey Taylor – Apr 23rd MR. LANDLORD Page 3
Elections Update! Page 9
L.O.T.S. Program Page 4
MEMBER SPOTLIGHT page 7 Landlord Tenant Dispute Solved with SHOTGUN! Page 7
Online Mentor Program page 4
Saturday Seminar EARLY BIRD BONUSES! RON LEGRAND is coming to KREIA! page 5
Monthly Newsletter for KREIA Members
Presidents Message Rents are up. Tenants are plentiful. And I’m buying because I’m 100% full with no empty units. Secret #1 Tenants you pick up will either make or break your business. 80% or more of investors that quit this business do so because they pick bad tenants. A bad tenant is like getting Dennis Erhard a root canal with no pain killer and it goes on and on month after month! They can destroy any motivation we have to build a long term profitable rental portfolio. Secret #2 Get lots of training! Did I say training! The #1 benefit of KREIA is the experts are in the room and are willing to train YOU! At this month’s meeting we are lucky to have Jeffrey Taylor “Mr. Landlord” for our featured speaker. His area of expertise directly applies to our market today he will cover: How to fill Vacancies fast How to add thousands to your cash flow The 9 most costly landlord mistakes How to raise rents and keep your tenants happy. Come See “Mr. Landlord” this month at KREIA and you will leave armed to go out and make a truck load of money. Thanks to Eric and Erik for the awesome “LOTS” program. Join today to receive hands on at a property. “Learning on the Site.” Great job guys and this is one of the best examples of special needs housing! Elections are coming! We Want You! If you are motivated and willing to HELP!! Training! Training! Training! Your Online Mentor Program is up and running. If you don’t know where to start, this is it. Sign up at KREIA.com. Thanks to all Volunteers!! Without you KREIA wouldn’t be possible!!!! Your President Dennis Erhard Quote of the Month:“Live as if you were to die tomorrow… Learn as if you were to live forever” - Mahatma Gandhi
Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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 Dennis Erhard
Vice President Frank Miller
Secretary Treasurer Treasurer Elect Davie Coffey Mike Grinnan CPA Wally Kallbreir
Board of Directors
Mike Butler
Tamara West
George Foree
Duffy Ford
Eric George
Dan Jones
Erik Jamie Greenwell Hitzelberger
Fred Helm
Rue McFarland
Fred Butler
Demetrius Dowdle
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 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 Connie Horsey
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 MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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April 23rd KREIA Meeting Jeffrey Taylor “HOW TO STAY IN CONTROL DURING THE MOVE IN INSPECTION” A landlord was concerned about his responsibilities regarding the comments and list of issues that may be written by new residents on the move-in inspection report. A seasoned landlord and regular contributor to LandlordingAdvice.com shared how he personally handles Move-In Inspections and stays in control during the process. “I don’t know laws of other states, (and be sure to check YOUR state laws), but as for me, this is why I am the one who writes stuff on the move-in inspection. I used to allow tenants to write on it and some would get crazy picky. One stain in the corner of the carpet would be noted as “carpet in terrible condition and filthy.” Um…no….. Ever notice how some car rental companies do it? THEY survey the car and note down the damages. Do what the big boys do! Copy good business practices.
Real Estate Closing
So now I walk thru WITH the tenants immediately prior to lease signing. This is my FINAL STEP in the screening process. I tell them I will write down whatever they like, but to keep in mind this property has been lived in before and we are renting it “as is, where is” along with all it’s charm and slight imperfections. I will write down whatever they notice from the scratch on the trim to the small ding in a closet door, but if they get to be ridiculous and argumentative saying everything is “filthy” and Donated by Harry Borders “destroyed” when in fact I just had my cleaners and maintenance guys go thru, I will quickly close the move-in documents folder, hand them back the 1st month’s rent money order, tell them I cannot make them live in such a terribly disappointing home, and wish them good luck with their search.
and in my business my interpretation needs to win 100% of the time. I’m reasonable, and I expect them to be as well.”
“BEWARE OF TENANT CAMERAS!” A recent discussion on MrLandlord.com about entering a rental property to do maintenance (with permission but without the resident present) reminded me of two online videos. 1. Resident had called with a stopped drain. Repair tech entered, checked the drain, needed a plumbing snake so he called his helper. While he waited he got a drink of water, used the toilet, checked the plumbing behind the washer, then thumbed thru the resident’s magazine on the counter. Tech did not know he was being videoed the entire time by the resident’s motion activated camera. Think Nanny Cam. The resident was FURIOUS and posted this online. Got TONS of comments about how lousy that apartment complex was, etc. 2. A local landlord was “outed” on a local Facebook gossip site with a video of his short outburst toward a tenant. To his credit he shouted then walked away. But his shouting was posted online. Remember, the world has EYES and can post it for the world and history.
Another experienced property manager added: “I have long held that this will happen…I ALWAYS caution rental prospects and owners who go into occupied homes to also NOT discuss furniture, personal items, housekeeping, etc…wait until we are outside and on the curb…. While in rentals, occupied or not, do-it-yourself landlords should Yes, I will do this while their truck full of stuff is sitting in always believe someone can record every thing they say my drive way. They will not be moving in. Sorry, act and do. To think otherwise, is putting yourself at risk. reasonable or go make arrangements elsewhere. - Jeffrey Taylor When you turn over control of this valuable document, it creates problems. Their interpretation may not match mine, Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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Welcome New KREIA Members! Troy Taylor
Troy Cole
Brock Halstead
Connie Carrillo
Stephen McCauley
Andee Gerton
Debbie Little
David Parks
Meghann Vamvas
Bob Braverman
Gay Patton
Travis Goetz
Murad Swaiden
Darryl Frieburg
Jeff Crane
Fernando Gomez
Julie Tilidetzke
Mike McGuire
Jimmy Kimmel
Will Ferrel
LOTS Address will be emailed to Active Members AFTER Meeting
12 sessions Full Access for 90 Days! Member Discount SAVE $300
Register Online Now www.KREIA.com
Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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MARK YOUR CALENDAR NOW! Saturday Workshop June 13th
Doors Open 8:30am - 4:30pm at WILDWOOD Country Club, 5000 Bardstown Rd. 40291
Ron Legrand is coming to KREIA! Ron is one of America’s Leading Trainers on investing in real estate. Take a look at your fellow KREIA members who have invested in Ron’s training, boot camps, and home study courses. Mark Lechner Chris Dischinger Jay Long Mike Butler David Thomas Dave Coffey Duffy Ford George Foree Chris McCarty Dennis Erhard Jamie Greenwell Cliff Hayden Brian Haeseley Rod Owens… and many more! Early Bird Registration Discount expires midnight May 31st
KREIA Members
Only $99
Non-Members
Only $149
If There Are Any Seats Available After May 31st – Registration is $149 and $199
BONUS from Ron!
first 50 Early Bird Registrations will get dinner ticket with Ron Legrand on 6pm on Friday, June 12th at Wildwood Country Club
You Can Register Online
KREIA.com
www.
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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 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.
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Submit Yours at KREIA.com
Fred Helm This Happened In Louisville! Louisville Man Recovering From Shotgun Wound After Dispute Over Rental Property LOUISVILLE, Ky. (WDRB) -- Police have arrested a Louisville man after he allegedly shot a man in the leg with a shotgun during an argument. According to court documents, it happened on April 9. That's when police say the suspect, 57-year-old Wayne Duke, got into an argument with the victim "over a landlord dispute from a previous rental. As the men continued arguing, police say Duke shot the victim in the leg with a shotgun, damaging an artery. Witnesses told police Duke took the shotgun and left the scene after shooting the victim. Police say the victim was listed in serious condition at University Hospital. Duke was arrested at his residence a short time later. He's charged with assault and tampering with physical evidence. He's being held on a $50,000 cash bond.
Referred to KREIA by: Mike Butler Member since: Last Year KREIA was at Mastersons. - Fred serves on your Board today Began Investing: 2008 Number of Properties/Units: almost a dozen Real Estate Investing Preferences: I like fixer uppers, wholesaling, Buy & Hold (rentals) is my main focus along with using my SD ROTH IRA to do real estate deals for me, my wife, and my kids. Raised: in Louisville, KY Education: Ballard High School, UofL, EKU, Navy Reserves CB Previous Occupation: Retired Louisville Police Officer of 21 years Current: Full Time Real Estate Broker & Investor Personal: Fred is married to Monique and together they have three children. Achievements: staying married for 20 years, 20 accommodations from LMPD including Life Saving Award. Hobbies, Passion, Fun: my family, my church, my real estate, traveling, basketball, running, fishing, and tasering shit heads. Lesson(s) Learned: education is an absolute must if you want bigger profits and income along with all kinds of time savers. Plus it is a lot cheaper than the “School of Hard Knocks.” - check crawlspace before you buy TOP TIP(s) for Members: Start Slow, but Take Action, KREIA has been my foundation for my success. Education and Knowledge gives you POWER - Go to KREIA.com to Submit Your Member Spotlight! Cell: 502-216-8931 Email: Landmark.res@gmail.com Website: http://Landmark-KY.com
Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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Copyright MMXIV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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KREIA ELECTIONS GET INVOLVED! Your President has selected this year’s nomination and election committee, and we would like to inform you of KREIA’s election procedure, which is as follows. KREIA is run by a Board of Directors consisting of five officers, twelve at-large Board members, the immediate past president, and the parliamentarian. The five officers, President, Vice President, Secretary, Treasurer and TreasurerElect- are filled each year for one-year terms. The twelve 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 April and May meetings 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. The Board sponsors many activities on an ongoing basis, and it is the diligent effort of all the Board members that bring these programs to life. The Board runs primarily through the committee system. Most Board members serve on more than one committee, and many chair a committee. It is simply not possible for someone to serve on the Board without being an active participant. 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 Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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Government Affairs Update Louisville Metro Government
1. Councilwoman Marianne Butler has sponsored an ordinance that would require “Public Entertainment Gatherings” to obtain a license prior to operating. The Metro Council has become increasingly concerned about unsafe public pop up parties in our community where underage children are exposed to alcohol, illegal drugs, and predatory-type sexual crimes. According to the Metro Council the increase number of vacant properties in our community have become conducive to these “pop-up” parties that appear to target pre-teens and young teenagers. These public parties are not regulated under the law, and the Metro Council seeks to regulate said parties to protect the health and safety of the minors who attend these events. This ordinance was heard this past Wednesday at in the Public Safety Committee in Metro Council at City Hall and passed out of committee. 2. Metro Councilman David James has sponsored a Resolution requesting the Planning Commission to: 1.) evaluate the Traditional Neighborhood Zoning District (TNZD) regulations, particularly as those regulations relate to signage on properties within the TNZD and the list of land uses currently set forth in the “Traditional Neighborhood Zoning District Plan Report for Old Louisville/Limerick,” Appendix 2B of Chapter 2 of the Land Development Code, to determine whether the TNZD land use regulations are effectively achieving the purposes originally outlined in the TNZD plan and whether expanding the list of land uses to include more commercial uses to promote additional economic development and opportunities is beneficial to the TNZD; 2.) examine the current neighborhood center boundary on the TNZD plan map to determine whether it should be extended to include properties on its periphery and nearby that have commercial character that would warrant their inclusion in the neighborhood center; and 3.)hold a public hearing and make recommendations to the Louisville Metro Council based upon the record of evidence established for enumerated requests 1 and 2. This Resolution was heard and passed out of committee on Tuesday March 31 in the Planning and Zoning and Land Design Committee at City Hall. Fellow KREIA Members, most government leaders and politicians honestly believe in order to raise revenue for each government agency, their job is to find ways to tack on more taxes, fees, and yes, even a City Sales Tax! Additionally, in their concern for their low income “constituents” (what happened to “voters”), they
by Rue McFarland
intentionally are targeting folks with money to spare, including the very deep bottomless pit pockets of real estate investors. It would be great if you could join me in monitoring government affairs update to protect property owners. Give ma a call or email anytime and I am looking forward to your help in this objective. Thanks in advance, Rue McFarland email: ruemac@bellsouth.net cell: 502-552-6672
Copyright MMXV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.
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PO Box 91225 Louisville, KY 40291 Return Service Requested
.com
KREIA’s Monthly Meeting! Thursday 5:30 EARLY MEETING -
April 23rd
"Navigating Legal Pitfalls as a Landlord“ Brad Lammi
MAIN MEETING
Jeffrey Taylor
PRE-Pay Now at KREIA.com to Get Qualified for Big Door Prize Drawing!