16 07 july kreia newsletter by KREIA .com

Monthly Newsletter for KREIA Members

Vol 07-16 July 2016

To All Fellow KREIA Members: President’s Letter Page 1 MAIN MEETING: Wholesaling & Marketing for Quick Cash! Page 3 Welcome, New Members! Page 4 Notes from the Field: Wholesaler vs. Fleas! Page 4 Update on Section 8 Inspections, Code Enforcement Page 6

KREIA Election Report Page 8 Government Affairs Update Page 10 In-Depth Look at Last Month’s LOTS House Page 11 Q&A With Wholesaler Sharon Vornholt Page 13 KREIA Mentor Workshops Page 15

Sorry that I had to miss the June meeting, but I was out of town on a family trip and needed the R&R. I was informed that the meeting went well with great content and we had a very good crowd in attendance. Let me start off by saying residential and commercial real Frank Miller estate are booming right now, and if you have ever thought about being in the business now is the time to take the leap and at least try it out part-time, while you still have your regular income from your full-time job! July 28, 2016, will be our next meeting. This meeting you will not want to miss! I myself and some local experts will teach you the basics of marketing and wholesaling properties for unlimited potential profits. Make sure you attend this meeting, as it is not too often I can bring in local experts to spill their guts and tell us everything that happens behind the scenes on how they potentially make $5,000 to $50,000 on wholesale deals around the Kentuckiana area. And also do not forget to sign up early for the Saturday training session, where you’ll get more training from me, the KREIA President, and some other local experts. You will learn the do’s and don’ts of wholesaling, and we will try to do some deals right there in the room over the phone with properties in the Kentucky area. Also you will not want to miss the Q & A sessions with us, as we tell everything you need to know on how to become successful at wholesaling properties and where your next deal will come from! 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, 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 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

Fred Butler

Fred Helm

Stephanie Gomez

Melvin Weathers

McFarland Greenwell Hitzelberger

Dan Jones

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

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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.

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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 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.

Wholesaling & Marketing for Quick Cash! Attend the 7 p.m., July 28th main meeting for a quick course Many real estate investors get started by learning how to find great deals that aren't listed online and then “wholesaling” those deals to other investors for quick cash. Dedicated rehabbers don’t want to spend time marketing and talking with motivated sellers — they want to get on with the business of flipping houses. That’s where you come in: You are the wholesaler, the person who finds the deals and negotiates with sellers so that the rehabber can keep his machine humming with houses that make good flips. And it’s a similar situation with dedicated landlords: their talents may lie more with property management and rehabbing for rent. If you can hand landlords a stream of properties that meet their numbers, you may be getting customers for life. Being the wholesaler, the “man in the middle,” you make a slice of the profit as you find, lock up and then sell those deals to other investors. While rehabbers and landlords may earn more in the long run on each investment they acquire from you, you can work more quickly and do “more deals” in the same amount of time. You’ll be earning the quick nickel while they’ll be earning that slow dime. You can easily make $5,000 to $20,000 or more wholesaling good deals to other investors, so come learn Photo from pixabay.com from KREIA President Frank Miller and VP Eric George, “Quick nickels” can turn into big bucks. who do it the right way! At the monthly meeting Frank and Eric will cover: • What is “wholesaling,” and what are the different ways to do it? • Steps to the wholesaling process • Marketing methods to find great deals “offline” • Do’s and Don’ts to stay on the right track (legal issues) • How to do wholesaling “tax-free” Bring a friend and your notebook and be ready to learn how to make quick cash wholesaling houses! Plus, sign up for the Saturday Workshop from 9-1 p.m. July 30th!

5:30 p.m. Early Meeting: Attorney Jennifer Fields on Section 8 Changes Jennifer Fields, from Borders & Borders, will discuss recent Section 8 changes and requirements negatively affecting tenants and landlords alike. There are new updates as of last week — you do NOT want to miss this meeting!

Next Mentor Workshop: July 30 KREIA President Frank Miller is the instructor as we delve deeper into the topic of wholesaling at the next Saturday workshop.  See Page 15 for a closer look at workshop sessions 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, 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 KREIA Members! Brandon Morris Marsheria Fall Bill Sears Jeff McMahan Sherry Henry Michelle Moberly

Featured Events

Nina Musgrave Ian Hooper Keith Allison Ryan Sanurwin Jacob Branch

Notes From the Field: Wholesaler vs. Fleas! On June 25, Marina Sud posted this on Facebook… “Went to look at a house with my contractor today. Soon after we walked in he told me to get out because something was crawling all over his legs. All four of us, including the people who opened the house for us as a favor to the owner's son, were covered in FLEAS! After a lot of screaming and a full-fledged panic attack, during which I proceeded to remove my clothing (my contractor stopped me right as I was about to remove my bra), I remembered I had flea & bed bug spray in my ‘all you may need for looking at houses’ bag. What I learned: If you’re going to use a bug spray, make sure it’s safe to put on skin (mine wasn’t). When dressing for houseviewing appointments, always wear good underclothes because you just never know....Two showers later, still itching.” Marina shared the contents of her go-bag. It pays to be prepared when entering mystery houses! Here's what she keeps at the ready: (Clockwise from top) Baseball cap, latex gloves, rag, face mask, rolling squarefoot measurer, laser square foot measurer, tape measure, wet wipes, rope, emergency poncho, boots in footies, bedbug/flea spray, and flashlight.

Upcoming Events  August 2 – noon to 1 p.m. LOTS Meeting. Location TBD.  August 10 — 11:45 a.m.-1:30 p.m. KREIA Indiana Sub-Group Luncheon Meeting. Meets the 2nd Wednesday each month at Tucker’s Restaurant on State Street and I-265. Open to all — you buy your own lunch. Brian Haeseley chairs.  August 25 – 7 p.m. Main Meeting: Show Me the Money – Get money for your deals! Everyone needs money for deals, so we’re showing you the best ways to get funding! We’ll have a local private money lender, a local banker, and a mortgage broker as our speakers this month! 5:30 p.m. Early Meeting: Mortgage Man Mike Fallot  September 22 – 7 p.m. Main Meeting: Equity Trust Company on self-directed investments for real estate 5:30 p.m. Early Meeting: Rawn Law Firm  October 27 – 7 p.m. Main Meeting: How to Buy REO Foreclosures & Auction Properties 5:30 p.m. Early Meeting: TBD.

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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.

Quotable Quote “It is never too late to start, although fortune favors early starters. Each day of delay loads the dice against maximum success. But I know of many successful owners who bought their first income property after retirement at sixty-five. You can always start later in life, possibly with a modified financial goal.” — William Nickerson, "How I Turned $1,000 Into a Million in Real Estate — in My Spare Time," 1959

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Update on Section 8 Inspections and Code Enforcement On Thursday morning, July 14, Rue McFarland and Tim Corrigan (KREIA’s Lobbyist) made arrangements to have a meeting with • Mr. Robert Kirchdorfer — Director, Codes and Regulations Department, Metropolitan Government of Louisville and Jefferson County, Kentucky, and • Mr. Dennis Martin — Supervisor of Section 8 Inspectors Chris McCarty, Mike Butler, Jay Long, and K. Casey of Louisville Apartment Association also attended. What triggered the need for this meeting? Since the first of the year, many seasoned landlords who have participated in Metro Louisville Housing Authority Section 8 program for DECADES have seen all of the annual renewal inspections FAIL and Initial Move-In Inspections FAIL. All of the veteran professional landlords are not slumlords. Nothing has changed in how these landlords make their rental units “Rent Ready.” Section 8 Inspectors have told Investors and Property Managers their Supervisor, Mr. Dennis Martin, told them to FAIL every annual renewal inspection and the Initial Move-In Inspection or they would lose their job. (FYI, several Section 8 Inspectors have filed grievances with their Labor Union about this threat to lose their job.) Up until now, these veteran landlords and property managers always have a maintenance person attend every initial inspection just in case something minor is found by the inspector. If something is found, such as a cracked electric cover plate, a crooked flap on the external dryer vent, or a loose handrail – these items were fixed in 30 minutes or less and the inspector would allow the small issue(s) to be fixed on the spot and the inspector would pass the rental unit. The Section 8 inspectors were told they are not allowed to do this anymore. They MUST fail the unit. Louisville Metro Housing Authority does not give a rat’s $%^ about households on Section 8 Program. Their behavior also attacks the families on Section 8 and this goes against their motto or mission statement. Step into the shoes of a family on Section 8 program: 1. Paperwork is processed and an "Initial Move In Inspection" is scheduled about 2 weeks later. 2. Family notifies their current landlord of their move out date. 3. Family makes arrangements to transfer kids to new school(s) 4. Transferring utilities along with deposits to get utilities on 5. Requesting time off from work of their precious job 6. Gathering boxes from grocery stores to pack 7. Rounding up helpers with their move 8. Prior to these new Gestapo tactics, most property management companies have a maintenance person attend the "Initial Move In Inspection" just in case the inspector finds something amiss, and the maintenance person fixes it on the spot. My company almost always passed every initial inspection. Now the Inspectors are pretty much being told to fail every inspection. (Continued on Page 10)

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2016 KREIA ELECTION REPORT There were 62 ballots cast at the June elections. Those elected were: President - Frank Miller; Vice President - Eric George; Secretary - David Coffey; Treasurer - Mike Grinnan; Treasurer-Elect - Wally Kallbreier Board of Directors for two-year terms (2016-2018): Jeani Bryant, George Foree, Stephanie Gomez, Erik Hitzelberger, John Jones, Lauren Willoughby The new officers and directors will be installed and take office at the July meeting. — Henry Schildknecht

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thelogsdongroup.com • (502) 657-9534 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, 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 Louisville Metro Government June 17, 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 Monday 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 singlefamily 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 an adequate amount of on or off-street parking, but it did not place a number on what is deemed adequate; • Metro Council should consider imposing a liability insurance requirement in case of damage to a home or a neighbor’s property. The entire set of recommendations will be discussed in the Land Development Code Committee on Monday June 20th for a committee vote on the ordinance. — Rue McFarland

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(Section 8 Update, continued from Page 6) 9. Imagine the poor tenant who has made all of the arrangements to move their family: • now they tell their landlord they will not be moving as scheduled. this causes another whole set of issues with that landlord including paying more rent • cancel utilities • cancel arrangements for kids • now they have to ask off for more time sometime in the future • cancel all of the helpers they have rounded up • and the list goes on and on. Approximately two months ago or so, Mr. Dennis Martin had a meeting with all of his inspectors and told them ALL bedroom windows must open a minimum of 24 inches in height. PERIOD, No Exceptions. Unfortunately, many investors began knocking out exterior walls and ordered brand new custom windows in order to be in compliance with this new code affecting windows. Thousands of dollars have been spent by these investors. Please note, the very same rental units were passed the year before the annual renewal inspection. Mr. Tim Barry is the Director for HUD in Louisville. He is the authority on the Section 8 program in Louisville. He was surprised by the uproar and chaos caused by this so-called already in place window height rule. After several meetings with Tim Barry, Mr. Kirchdorfer informed us all rental units built prior to 1980 will be “grandfathered in” to the code of the day they were built. This was great news; however, it was too late for many investors who have already knocked out walls and ordered new windows. Plus, many investors have lost great residents because the windows will not pass the inspection. The Results of This Meeting 1. All Rental Units Built to 1980 will be “grandfathered in” using the code of the day when these properties were built. 2. Rental Units built after 1980 will have to comply with the 2012 International (kangaroo) Housing Code – this is the code they are using to enforce 24 inch minimum window height. 3. Tim Corrigan told Mr. Kirchdorfer he found about 8 or 9 “Resident Council Advisory Boards” but not one advisory board or council for rental property owners and property managers. Tim recommended LMHA should have a “Rental Property Owner Advisory Council.” Tim’s idea was well received by Mr. Kirchdorfer. 4. Mr. Kirchdorfer said he shocked by the investors’ relations with Section 8 and he said he will dig in to this more. 5. Finally, Mr.Kirchdorfer made no promises and no action was taken. He said he had to get with Tim Barry on these issues, as his HUD office has hired Metro Louisville Code Enforcement to do all of the inspections for LMHA. This is where we stand today. I highly recommend you join the FaceBook Group called “Louisville Landlords Love Section 8” to keep up with all of the updates from LMHA, Tim Barry, Robert Kirchdorfer and more. www.facebook.com/groups/LouisvilleLandlordsLoveSection8/ Keep Your Fingers Crossed! Mike Butler (This article was heavily edited and shortened for space. To read the full article, please visit the Facebook group above.)

Parkwood-area LOTS Home: A Closer Look Darin O’Neil prepares house for selling on lease option At last month’s LOTS (Learn on the Site) meeting, KREIA members got a quick course on selling on lease option from the LOTS host, Darin O’Neil. That was the strategy he was pursuing with the house at 7312 Windemere Drive. Selling a house with a lease option is like renting to a tenant, but without some of the hassles of being a landlord. The tenants are tenant-buyers who plan to purchase the home once they get their credit or some aspect of their financial affairs in order. Maintenance and repairs are on them: No midnight calls to you concerning toilet emergencies. And to secure their option to buy, they pay an upfront option fee of thousands of dollars — which you get to keep if they choose not to exercise their option. And Darin said most tenant-buyers usually don’t pull the trigger and buy the house, even though he encourages them to do so — he said he often pleads with them to do it as it’s in their best interest. So if you want lowmaintenance tenants, cash flow, and the likelihood that wads of cash in the form of option fees will keep coming your way, selling on lease Darin O’Neil’s favorite exit stratoption might just be the egy: “Rent it forever and turn strategy for you. maintenance over to a responsiDarin gave us permission ble tenant using a Lease With to share some of his tips, Option to Purchase.” numbers and details here. Purchase Price: $77,000 Total Purchase and Rehab: $98,242 Cash Invested: $1,576.70 Monthly Rent: $1,195 PITI Payment: $653.89 Monthly Gross Profit: $541.11 Yearly Gross Profit: $6,493.32 Cash-on-Cash Return: 412% ARV: $135,000 Lease/Option Asking Price: $145,000 Option Fee: $4,000 • Source of the deal: Darin said he found this house on the MLS. “I find most of my houses on the MLS.”

7312 Windemere Drive is a brick ranch, with basement, in the Parkwood neighborhood, just southwest of Iroquois Park.

• Financing: Century Bank of Kentucky, in Lawrenceburg. “I work the phones until I find a bank that will work with me.” He said the bank gave him a construction bridge loan. When he got his loan, he estimated his construction costs high. If the actual cost comes in under his rehab budget, he wins. • Placing a tenant. “I will let my house sit vacant until I find the right tenant/buyer.” • Paying it off. He does a debt snowball: He takes income from his investments and pays off the lowest mortgage. There’s no substitute for attending a LOTS meeting: We can recap the high points here, but nothing beats your eyes-on inspection of an investor’s latest project. You get to see what’s working for other investors in today’s market, and you get to quiz the investor/host to your heart’s content. And don’t forget the free lunch and networking opportunities. The monthly LOTS meeting is a perk you can’t afford to ignore. See you at the next one!

KREIA members absorbed Darin O’Neil’s project details — and the delicious Chick-fil-A nuggets that were provided for lunch.

Q&A With Wholesaler Sharon Vornholt Sharon Vornholt is a local wholesaler with a national presence. She’s also a sought-after coach and writer — and a KREIA member. By checking out articles and podcasts on her website, the Louisville Gals Real Estate Blog, you can gain a free education in wholesaling and marketing. She graciously allowed us to pick her brain, so get ready to take some notes! What is your recommendation on how new investors can get up to speed figuring out repairs and costs? Should they hire a home inspector to come along when visiting sellers? This is really a two-part problem. The first issue is being able to identify problems. The second part is knowing the cost of those repairs and updates New investors could certainly hire a home inspector to help them learn to recognize defects in the house. Home inspectors are very knowledgeable when it comes to pointing these things out. The problem is that home inspectors aren’t supposed to quote repair costs. That really isn’t what they do. It would also get very costly to have every house inspected since we look at a lot of houses. A better choice might be to have a contactor come along on those initial houses if new investors feel like they just can’t do this alone. Once they are able to identify the repairs and updates needed, then they need put in the time and eff-

ort to learn how much things cost. Here are some tips for doing that: • Spend some time at Home Depot or Lowe’s and learn how much things cost like vanities, toilets, kitchen cabinets, etc. Put these into a spreadsheet so you can refer back to them. This is actually pretty easy to do. • Learn which things are sold by the yard, square foot or running foot. This will be helpful when calculating repair estimates. • Find out how much it costs per square foot to paint the interior of a house and how much flooring is. These are numbers you can use over and over. • Next is to talk to specific contractors and get actual bids on the costs for replacing the major items and systems. These are things like the roof, HVAC system, major plumbing repairs, and big electrical repairs like panel boxes. There are a lot of vendors in KREIA that will be willing to give you estimates. In time, you will be able to figure repairs quite easily. Continued on Page 14

(Continued from Page 13) Is probate a good niche for a new wholesaler? The short answer is maybe. For someone to be successful at wholesaling they need certain skills. They need to be able to generate leads, which requires them to learn marketing. Once they start to generate leads, they need to be able to talk to sellers, set up appointments, meet with sellers to inspect the property, and figure repair costs. Once they have a house under contract, they also need to have a buyer’s list. The wholesaling process requires a certain level of skill and knowledge. Folks in probate are going through a difficult time in their life. Working with probates was never a problem for me because I was already an experienced investor when I started wholesaling. But in general, I think the folks going through probate require a “lighter” touch. You have to be a good listener and have compassion for folks selling property in probate. You need patience. Selling the property is just one of the many things they have to do. They might not be the best group of folks to “learn on.” Is there a best niche for a new wholesaler? I think the best niches for new wholesalers are the ones with fewer rules. Absentee owners are generally pretty easy to work with. All you really need is just a motivated seller. Things like pre-foreclosures, short sales, properties sold at the commissioner’s sale, tax sales, etc., require you to have a different level of knowledge so they really aren’t ideal for folks just starting out. What is the best way for a rehabber or landlord to work with you to buy your wholesale deals? They can just ask to get on my list. I pretty much work with the same people over and over; seasoned investors that have access to cash and can close quickly. One thing new wholesalers need to understand is that you don’t need dozens of buyers on your buyer’s list. All you need are a few good buyers on your buyer’s list. As you’ve compared notes with other investors around the country, have you noticed any factors unique to wholesaling in the Louisville market? I think the process is pretty much the same everywhere. The one thing that is different is the amount of money a wholesale deal costs. A wholesale deal in California costs a whole lot more than one here in Louisville. What’s your one best tip for a new wholesaler? You have to become an expert at marketing. If you don’t have leads coming in the door you will be out of business in no time. Focus on marketing first, then worry about the other things like talking to sellers and making offers. You can always get help with those things if you have leads and deals. Without leads, you won’t need to learn any of the other things.

Can you talk a little about what you do as a coach? Are you taking on new students now? I still do some 1-on-1 coaching, but I’m focusing more on groups these days. At the present time, most of my students are investors that have some experience. They are folks that are doing deals but need help with marketing and/or branding to take their business to the next level. One of the things I most enjoy as a coach is small-group, live events. I have 2 live events coming up this fall. I co-host a 2-day “REI Marketing Mastery” event in Nashville several times a year. The next one is in September. I am also co-hosting a one of a kind 3 day event on how to “up-level your brand” called “Branding, Books and Beaches” at Hilton Head in October. I’m really excited about this event, because there is no other event like this one. How has KREIA helped you as a wholesaler? Without KREIA I would have never gotten started much less been successful. KREIA is a great place to learn, especially when just starting out. It’s also a great place to network, to buy and sell properties and just have a great time. There really isn’t any downside to belonging to KREIA. What are the most important marketing strategies for wholesalers in 2016? There are 3 main things. 1. Direct mail 2. A lead-generation website 3. Follow-up systems 1. Direct mail has always been my #1 lead source. The important thing investors need to understand is that you need to be in this for the long haul. More than 80% of your deals will come at or beyond the 5th mailing, but there is nothing that will generate more leads consistently over time than direct mail. 2. A lead-generation website is no longer optional. You absolutely must have a nice website. It needs to tell people why they should choose YOU. No matter what your marketing strategies are, folks will almost always check you out online before they ever pick up the phone to call you or fill out an online form. Today, your website will almost certainly be responsible for creating that first impression of you and your business. 3. Good follow-up systems can greatly increase the number of deals you do over time. You’ve probably heard the saying “the money is in the follow-up.” Most people will take that first “no” and simply give up on the lead. Create systems to follow up with these folks so they don’t fall through the cracks. I spoke with a very successful rehabber in another part of the country recently. He told me that 80% of his deals come after months of follow-up with people that first said no. That’s a pretty impressive number.

2016 KREIA Mentor Workshops

Experienced local investors spend six sessions showing you how it’s done Did you attend the last Saturday workshop? If so you got the scoop on Kentucky tenant law and property management from a trio of experienced and knowledgeable Louisville landlords. To kick us off, Eric George shared his experience in general property management and in student rentals. Real estate attorney Henry Schildknecht set us straight about what you can and can’t do with tenants’ deposits — and talked about how to bring your strongest case to court. And local landlord Mike Butler covered software and systems to save you time and cover your backside. Ready for the next session? Hang on for…

Session 5: Wholesaling and Marketing Our Saturday workshop on July 30 will give you all the details on wholesaling and marketing for quick cash! You can easily make $5,000 to $20,000 or more on EACH DEAL wholesaling good deals to other investors, so come learn from KREIA President Frank Miller, who does it the right way! Go much deeper into the content presented at our monthly meeting, and ask our experts any questions you need to know to get started today! The workshop runs from 9 a.m. to 3 p.m. and includes a working lunch. Here’s a short list of topics to be covered:  What is “wholesaling” and how do you do it?  Steps to the wholesaling process  Understanding the rehabbing-wholesaling connection  Marketing methods to find great deals “offline”  Strategies for marketing cost-effectively  Do’s and Don’ts to stay on the right track (legal issues)  How to do wholesaling “tax-free”

Attendees at last month’s Saturday workshop gathered around Mike Butler to ask questions after the workshop was over.

From left: Mike Butler, Eric George and Henry Schildknecht

Here’s the rest of the Mentor Workshop lineup for the year:  July 30: Wholesaling and Marketing Essentials  October 29: REO Foreclosures and Auctions 101

5th Session: Saturday, July 30, 2016 Wholesaling and Marketing Home of the Innocents, 1100 East Market St., Louisville, KY 40206. (In the lower level of the Hockensmith Center: Park in Lot B) 9 a.m. - 1 p.m. COST: $99 for members; $149 with a guest. Non-members’ costs are $149. Sign up by 7/25 for cheaper pricing!

REGISTER NOW AT KREIA.COM! 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, 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’s Monthly Meeting! Thursday, July 28, 2016 5:30 p.m. Early Meeting: Attorney Jennifer Fields from Borders & Borders discusses Section 8 changes

7 p.m. Main Meeting: Wholesaling & Marketing! KREIA’s Frank Miller and Eric George show how to make quick cash wholesaling

PRE-Pay Now at KREIA.com to Qualify for a Big Door Prize Drawing!