Skip to main content

May 2018 KREIA Newsletter

Page 1

Providing Education, Resources & Networking Since 1978 Kentucky’s premier investment club for landlords, rehabbers and wholesalers Meeting the 4th Thursday of every month (except November & December) KREIA.COM • facebook.com/groups/kreiaky • twitter.com/reiaky

Monthly Newsletter for KREIA Members

Vol 05-18 May 2018

President’s Letter

1

Paid Advertising Rates

2

Rehabbing for FAT Cash: Two house flippers and a lender show you how to cash the big check

3

Welcome, New Members!

4

May Workshop: Spend a day at house-flipping school – including a field trip!

4

Hank Schildknecht: Preview of KREIA’s 2018 elections

8

Government Affairs Report

18

Podcasts: Listen up for online 11 ‘radio shows’ about house flipping KREIA Photos

12

L.O.T.S. Recap: Jay Leisten partners with contractor on gut rehab of Germantown home

13

Mike Butler: Why you need to create your personal safety plan

18

KREIA Members! It’s been a great year for real estate so far, and if you’re smart enough to find good deals to flip, you’re likely selling them in only a few days for top dollar! The magic is what happens during the renovation process, and so this month our main topic is “Rehabbing for FAT Cash”! Our local pros will explain what upgrades are the most important to do and also reveal some big mistakes many investors make when rehabbing. Our pros, Brian Eric George Snider, Jordan Pohn and Joe Burnett Jr., have done hundreds of rehabs between them and have a wealth of knowledge and experience to share with you! • “How do I estimate repair costs?” • “How do I determine the house’s after-repair value (ARV)?” • “Should I put the same materials in a house I’m going to rent as one I’m looking to sell to new homeowners?” • “How do I keep all the items and materials needed well-organized?” • “What systems should I use to do multiple rehabs at the same time?” • “Where do I get the money to do rehabs?” If you’ve had questions like these, our pros will answer them all and much, much more this month at KREIA! Make sure you pre-register EARLY, as this is always one of our biggest meetings of the year! We’re also planning another all-day workshop May 26th where we spend half the day learning to estimate repairs and write offers, then the second half we travel to a distressed house to practice estimating repairs, calculating the potential ARV, and determining the Maximum Allowable Offer (MAO). Don’t wait — register for the workshop today at KREIA.com! Lastly, elections for the board are NEXT MONTH, so please make sure you vote! It’s been an honor to serve as your President for the last year, and I’d very much appreciate your vote again this year! See you at the meeting! KREIA President Eric George

Copyright MMXVIII 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 Eric George

V. Pres. Erik Hitzelberger

Advertise With KREIA

Secretary Treasurer Treasurer-Elect Dave Coffey Mike Grinnan CPA Wally Kallbreier

Board of Directors

Put your message in front of the most active rehabbers, landlords and wholesalers in the state! KREIA offers five membership levels for businesses. Go to KREIA.com and join at one of these annual advertising levels to get your ad in every issue of KREIA's newsletter and be invited to make ad pitches at meetings:

Business Card Membership . . . . . . . . $199 Includes your business-card-sized ad. Admission at monthly meetings remains $20. Premium Levels: These four advertising levels include your ½-page ad in each issue!

George Foree

Rue McFarland

Lauren Willoughby

Darin O'Neil

Parliamentarian Hank Schildknecht

Past Pres. Frank Miller

Dennis Erhard

Tamara West

John Jones

Jeani Bryant

Rick Littrell

Mike Fallot

Clay Smith

Hampton Scurlock

Get involved with KREIA. You can help with the monthly meetings, L.O.T.S. program, this newsletter, Saturday workshops, Government Affairs roundups, marketing, the KREIA website and more. PLUS You Get EXTRA KREIA points for everything you do! Ask for someone to direct you as you check in at the front desk at monthly meetings.

KREIA's newsletter is published monthly and serves to educate you and to remind you of upcoming monthly meetings. About KREIA: The Kentuckiana Real Estate Investors Association is a members-only, nonprofit organization focused on education, networking and resources for today's investor. 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. Group discounts are available. Contact us at News@KREIA.com if you want to: Advertise on KREIA.com • Sponsor a monthly meeting Sponsor a L.O.T.S. program • Sponsor Saturday Workshops

Bronze Membership . . . . . . . . . . . . . $499 Includes free admission to monthly meetings for one person. Silver Membership . . . . . . . . . . . . . . $699 Includes free admission to monthly meetings for two people. Gold Membership . . . . . . . . . . . . . . . $999 Includes free admission to monthly meetings for two people and gives you a skirted table in the vendors area. Platinum Membership . . . . . . . . . . $4,995 Includes everything the Gold level offers, plus extra promotion from KREIA. You'll be our designated events sponsor, and we will promote you accordingly! New ½-page advertising levels and pricing are in effect for new member signups and upon renewal for current advertisers. Questions? Send email to News@KREIA.com or catch up with KREIA Sponsor/Advertiser Chair Dennis Erhard at the meetings.

Join KREIA Joining KREIA is easy: Go to KREIA.com and click the "JOIN" option on the menu. The cost to join as an individual member remains at $125 per year, with a charge of $20 at the door for monthly meetings. Click JOIN at KREIA.com to find out about all the benefits of membership for both individuals and businesses. Too many to list here!

Copyright MMXVIII 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.

2


Want to cash the big check? Here’s how

Local house flippers offer tips and answer your questions at May’s meeting Can you really flip a house for big paydays, here in Louisville, like you see on HGTV? Yes, you can! Come to KREIA in May to find out how local investors are rehabbing houses for healthy paydays. Our panel of experts will share what house-flipping is like in real life, away from the cameras, and they’ll include all the numbers and expenses that get glossed over on TV. They’ll talk about how to estimate repairs and hire contractors. They’ll talk about how to target the kinds of houses and neighborhoods that give the best returns. They’ll tell you how to get your rehab deals funded. Please be in your seat by 7 p.m. on May 24 to hear:  Bryan Snider. Bryan began investing in real estate in 2011 while working a fulltime job in the engineering profession. He quickly developed a passion for converting distressed houses into income-producing properties. Bryan then focused on developing repeatable business systems that enabled him to scale his business and build a rehabbing team that has completed more than 100 rehabs. Bryan is the co-founder of Freedom Property Group, a turnkey investment property provider based in Louisville, Ky. A core operation of his company is rehabbing houses on a large scale, using investor-focused systems that maximize equity and return on investment.  Jordan Pohn. Jordan is a real estate attorney by trade and serial entrepreneur. He started a nationally ranked mortgage company in 1995 that grew to more than 500 employees and was eventually acquired by LendingTree.com and subsequently

Special Door Prize for Pre-Paid Registrations! Active Members: $20 • Guests: $30 • Former Members: $30 Register now at kreia.com. Receipt emailed for your records.

PRE-PAY NOW!

Discover Credit Card. In 2015 Jordan began privately financing renovation loans for a handful of local investors. He soon realized there was an underserved market needing a strong player to deliver speed, dependable capital, competitive pricing and aggressive underwriting. In 2016 he officially launched SurePoint Equity (with his two partners, Saul Pohn and Leigh Wise) to serve this need. Two years later, SurePoint Equity has funded more than $25 million in fix-and-flip rehab loans and is still growing. A significant portion of their success has come from the loyal support of the members of KREIA. If you’re a new or experienced investor in need of financing, Jordan is your guy.  Joe Burnett Jr. Joe is a longtime member of KREIA and has been investing in real estate for 23 years. He’s on record as saying he really doesn’t do flips — though he has wholesaled some 15 houses. Joe is a buy-and-hold guy, so he pretty photo by bruce w. hinson much rehabs to hold and rent. Joe has a lot of experience in knowing www.obedientcamera.com what materials to put in rentals to stand the test of time. Joe is also the owner of Joe Jr.’s Flooring, a carpet and tile company on Preston Highway. He’s been in business for 18 years, and he offers discounts to KREIA members.  Saturday Workshop! Want to spend a day learning how to estimate repairs and create a rehab budget, then test your skills on a house out in the field? Turn the page!

5:30 p.m. Early Meeting: Jay Bowman Selling season is here! Need tips on best ways to sell your flips? Hit up Jay Bowman, of 60 Day Realty, with your questions.

Copyright MMXVIII 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.

3


Welcome, New KREIA Members! Glen Ayres Keda Cain Robert Colin Paul Decanini Robert Ford Mark Fuchs Arnita Gadson Alfredo Garcia

Katrina GoatleyForehand Demetrius Gray Michael Higdon Allen Jones Jon Mapp Jackie Neumann Wanda Ramsey

Conrad Reynolds Mike Ruckriegel Kiersten Trover

SATURDAY WORKSHOP: REHABBING Bryan Snider and Jordan Pohn return on Saturday to teach you more about how to evaluate houses for rehab profit potential – and how to approach lenders for funding. In the classroom you’ll learn:  How to do repair estimates and deal with contractors  How to make a budget that includes all costs  The ABCs of steps from time to close until time to sell And then you’ll visit a distressed house and practice your new skills! Register now and save $20!  When: Saturday, May 26th, starting at 9 a.m.  Where: Home of the Innocents, Hockensmith Building.  Cost: $99 for members, $199 for non-members. Early Bird Pricing! Pay $79 instead of $99! And $179 instead of $199! Register by midnight of May 24.

L.O.T.S. Recap: Continued from Page 13 Jay and his partner went with their own crew to work on the roof, windows and gutters, though he said he normally uses Clay Smith’s company to do that on his flips. Fortunately no work needed to be done on the foundation. “The city inspector did ask that we change out a couple of the piers with steel posts, which we’re going to do.” Jay has been a KREIA member for three years, and his wife, Patricia, joined last year. Jay says they’ve been learning as much as they can. He started as an investor and then got his real estate license so that he could access the MLS. In managing flips he calls upon his background in architectural illustration and design. “I worked on Park DuValle and worked on Norton Commons early on doing illustration and design for planning and zoning meetings.” THE NUMBERS Expected Sale Price: $188,500 Purchase: $73,000 Repair Estimate: $64,925.50 Estimated Closing: $16,965 Expected List Price: $194,500 Estimated Profit: $33,609.50

Copyright MMXVIII 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.

4


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 THIS IS AN ADVERTISEMENT

Copyright MMXVIII 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.

5


Copyright MMXVIII 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.

6


Copyright MMXVIII 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.

7


2018 KREIA Elections By Henry Schildknecht The president has selected this year’s nominations/ elections 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 officer positions – president, vice president, secretary, treasurer and treasurer-elect – 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 reelection if they so desire. Nominations will be taken from the floor at the April and May meetings for the five officers 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 run, 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 promotes many activities on an ongoing basis, and it is the diligent effort of all the board members that brings these activities 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 member. 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 Tel: (502) 893-4494 Fax: (502) 893-4495 hankatty@gmail.com

GOVERNMENT AFFAIRS REPORT Kentucky Realtors Legislative Update April 16, 2018 The 2018 session has officially concluded. Lawmakers completed work on some key items, which included overriding Governor Bevin’s vetoes on the state budget and tax reform legislation.

 Read weekly updates on bills in play in Frankfort at Kentucky Realtors’ site: bit.ly/kyr_lu Copyright MMXVIII 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.

8


Copyright MMXVIII 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.

9


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

Mobile

Fax

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

FREE ESTIMATES

ISC Provides 4 simple yet powerful tools, backed by Private Investigators, to make screening and managing your ideal tenants easier than ever!

iscscreening.com

Do You Want Your Business Card to Appear Here? Join as a Business Card Member for only $199/year, and see your ad in a year's worth of KREIA newsletter issues!

Insurance for the Real Estate Investor realprotect.com

Copyright MMXVIII 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.

10


Listen Up About Flipping: Podcasts to check out By Lauren Willoughby One of the coolest things about modern life is that it permits us to go deep in following our passions. Passionate about real estate? Want to read about real estate? Watch videos about it? Listen to radio shows about it? Hundreds of investors have taken to the Internet to share what they know. They’ve created so much content about real estate, you could never read, watch or listen to it all. What if you narrowed your focus to podcasts about rehabbing – flipping houses? Why not? It’s our focus here at KREIA this month, and vacation road-trip season is just kicking off. Take a break from radio! Here are two I like:

Flipping Junkie Podcast https://flippingjunkie.com/flipping-junkie-podcast/ Danny Johnson, a Texas house flipper, interviews other successful investors about flipping and related topics. At his website you can browse among his 115 episodes (as of this week), which range in length from a few minutes to over an hour of laid-back conversation. Take a listen and you’ll hear about his progression from just starting out about 15 years ago (when he was afraid to take calls from motivated sellers) to having flipped hundreds of homes.

House Flipping HQ http://houseflippinghq.com/podcasts/ Justin Williams is a California house-flipping machine. This guy is all about systems, and he uses them to flip more than 100 houses a year. His website offers access to 200+ shows, which usually begin with a bit of enthusiastic singing. (If you had your own show, could you resist?) Williams pushes his mentoring program pretty heavily, but there’s still lots of actionable advice in there for frugal newbies seeking free tips.

Podcast Apps I never listen to these shows from their websites – I use cellphone apps so I can search for shows, subscribe to them and queue up playlists while driving or doing chores. I like:  iOS: Overcast, by Marco Arment. Free.  Android: Podcast Addict, by Xavier Guillemane. Free.

More Shows to Listen to  BiggerPockets: If you haven’t heard this podcast – probably the biggest real estate show online – do yourself a favor and check it out. There’s info on landlording as well as flipping.  The Mentor: Real estate educator/Godfather Ron LeGrand just got into podcasting – like, a week ago. Worth a listen!

Copyright MMXVIII 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.

11


photo by bruce w. hinson www.obedientcamera.com

photo by bruce w. hinson www.obedientcamera.com Dan Jones is back in the house at KREIA!

Headlining the “Ask the Experts” panel at last month’s main meeting were Tamara West, Rue McFarland, Katie Crotzer and Mark Hass. They gave us lots to think about!

KREIA

Photos

Is that smiling guy at left Frank Miller? It sure looks like our past president, but he’s not wearing a cowboy shirt. Hmmm.

photo by bruce w. hinson www.obedientcamera.com

photo by bruce w. hinson www.obedientcamera.com Ed Gibson networks and practices his jazz hands with Hollie Smith, left, and Wende Cosby, right.

KREIA President Eric George, at left below, awards door prize winner Kiersten Trover with a copy of Mike Butler’s new book. Remember to preregister, folks! You might win a prize.

photo by bruce w. hinson obedientcamera.com

See more photos online — in color — in KREIA's private Facebook group.

Copyright MMXVIII 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.

12


Germantown L.O.T.S. Home: A Closer Look Jay Leisten teams up with general contractor on gut rehab

Jay Leisten says he usually spends about $500 a month in advertising costs to find new rehab deals, but he sourced this one for free. Jay posted this message on his realtor Facebook page: “If anybody’s looking to sell a house, give me a call.” Then somebody did. “I got a call later that day,” he said. “Total surprise. No money spent on ads or anything.” The sellers who called were fairly motivated. Their electrical system had failed in 2009 — “with the exception of one line of photo by bruce w. hinson plugs.” And then, late last year, their sewer www.obedientcamera.com system failed. Plus, there were some structural issues from deferred maintenance inside. The owners weren’t able to stay in the This house at 1029 E. St. Catherine St. has pretty much all-new everything. home and fix what would need to be a gut job. “They were in a situation where they couldn’t get more can’t be on site and, so far, Jay has put about 35 hours of his money out to be able to do the repairs, because it wouldn’t time into the deal. have appraised at the time,” Jay said. “They just wanted to get The guys put the house under contract a little after their mortgage paid off and help finding a new place to live.” Christmas but gave the owners two months to vacate. They Instead of making the offer himself for the deal, Jay decided got to work on Feb. 20 with the demo and trashout, which to gift it to his general contractor, Andy Smith of Smith Electric, required six dumpsters. and partner with him on it. They arranged a joint venture Originally they’d planned to turn the shotgun house into memo at attorney Hunt Rounsavall’s office. a camelback, to bump up the sales price, “but the rafter “I turned it over to him as kind of a thank-you for doing all system wasn’t set up appropriately for it,” Jay said. “So we the work he’s been doing for my investors for the last year, so had to take it back to a 2/2.” that he could make some profit on the end as an investor But it will be a handsome two-bedroom, two-bath house himself,” Jay said. with upscale finishes — Smith’s company is used to kitting The contractor, Smith, took care of the mortgage with a out stadium suites and boxes with high-end finishes. In this $73,000 payoff memo and mortgage payment plan, also set up house they’re going high-end with marble tile in the bathrooms and with 3/4-inch hickory hardwood flooring as with the help of well as custom cabinets. Rounsavall. He’s At the time of the L.O.T.S. meeting, the flooring was also paying his own ready to be laid, and cabinets were about to be unboxed. crew and buying Jay said they had about two weeks left until the house was materials on his own account. But ready to sell. They reframed the whole interior, spray-foamed all the he’ll also be getting the lion’s exterior walls and rafters, and replaced the HVAC. After share of the profit. pulling permits on plumbing and electrical, they gutted the Jay said his role kitchen and baths, replaced the panel and re-drywalled the in the partnership whole house. L.O.T.S. host Jay Leisten, left, described his rehab to the KREIA crowd in the back yard. At is to step in and (Continued on Page 4) right is Mike Fallot of MM Lending, who paid help supervise the for our lunches. Thanks, Mike! (Photos by Why do we call it “L.O.T.S.”? Because we Learn On The Site! job when Smith Lauren Willoughby) Copyright MMXVIII 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.

13


Copyright MMXVIII 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.

14


Copyright MMXVIII 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.

15


Copyright MMXVIII 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.

16


Copyright MMXVIII 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.

17


How Much Is Your Real Estate Really Worth? Why you need to create a personal safety plan By Mike Butler As a retired Louisville Police Detective, I have to kick myself occasionally to remind myself about this often-overlooked major hazard in today’s world. Fellow KREIA Members – PLEASE Read CAREFULLY – ALL these incidents Are In Louisville, Kentucky!

Most folks do not have the muscle memory training to react immediately and properly without thinking when a predator wants to harm you. In my personal and professional opinion, Your #1 Best Protection is to remove yourself from all of those opportunities LOUISVILLE, Ky – July 14, 2014 - Tenant Kills Landlord when bad things could happen. Over $58 Utility Bill. Be OBSERVANT Everywhere, All of the Time – don’t allow Police said James Tolle, 49, was shot around 3:30 p.m. yourself to be consumed with your phone while being totally Monday after an argument with Anthony Jecker in an ignorant of everything going on around you, not just in real apartment on Fegenbush Lane. The dispute was over an estate, but while in the grocery store and more. unpaid electric bill. “At that time, some point later, the PERSONAL PROTECTION has many alternatives to playing suspect came back with a handgun. They got into another one-bullet Barney Fife. Don’t get me wrong, firearms should argument and that’s the time he fired fatal shots,” said only be used by those folks who are trained properly, but also, Louisville Metro police Lt. Todd Kessinger. A bullet hit Tolle get the advanced training to create the “mental muscle in the chest, killing him on the spot. James was a Dad to his memory” so your reaction to a threat happens without kids, husband to his wife, the son of his Mom and Dad, a thinking. Here are some other items for your safety: brother to his siblings, a co-worker and a friend to many. I  Pepper Spray(s) attached to your key chain bet he invested in real estate for the benefit of his family;  Smart Phone apps allowing family and loved ones to track but, not this way. your cell phone location.  Go James Bond’ish and get the ink pen video camcorder. LOUISVILLE, Ky. — Aug 2017 - The jury has found Joshua Yes, only $39 on Amazon. Young guilty of second-degree manslaughter for shooting  Use your smart phone video and/or audio recorder and killing his landlord, Shane McCain. He testified he shot  If you have a real estate office, please print and post “For McCain in May of last year after a dispute over rent. Your Protection and Ours, Video & Audio Recording in Progress” LOUISVILLE, Ky – July 23, 2017 - Tenant Stabs Landlady  Good old Dash Cams Kenny Embry ran up behind his landlady, jumped on her NEVER, NEVER, NEVER Knock on Doors to Collect Rent! NO and stabbed her multiple times in the head and body with a EXCEPTIONS. butcher knife in the St. Joseph neighborhood on Atwood. NEVER Accept Cash for payments of any kind. I went to school with this knucklehead and he has always NEVER Go Alone to Meet a Prospect Anywhere in any been weird. neighborhood. No Exceptions. Enroll in quality personal protection / self defense program. There’s not enough room for me to share all of the Perhaps have your staff/agents/ and family members enroll as horrific nightmares of the boatloads of violent assaults and well. murders of real estate professionals. Everyone from agents, You and me love real estate for all of the great benefits it appraisers, landlords, investors, maintenance staff, leasing can bring us and our families. You are a very sharp investor and agents, and more. your personal safety should always be Priority 1. PLEASE, PLEASE take a few moments of your precious In today’s world, personal safety pre-cautions can save your and valuable time to create your own PERSONAL SAFETY life and prevent serious physical injury. Please do not think you Battle Plan for you, your staff, any and all family members can call the police to Save You in 3 seconds. Almost every time, involved in your real estate business. For example, in certain the police show up after everything is over and end up taking a neighborhoods in our town, no one is allowed to be there report. Protect Yourself. after the school buses drop off kids (3 p.m.-ish) Perhaps KREIA Social Committee could round up a class on What Are You and Your Staff going to carry for Personal self-defense. Protection? Although I am a retired Louisville Police To Your Continued $uccess! Detective and have been trained properly in firearms, Attend FREE investor training webinars with Mike every carrying a firearm is NOT the solution for everyone. Tuesday at noon EST. Register at MikeButler.com/PowerLunch Copyright MMXVIII 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.

18


Copyright MMXVIII 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.

19


Copyright MMXVIII 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.

20


Join us! Classes begin in March

Copyright MMXVIII 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.

21


Copyright MMXVIII 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.

22


Copyright MMXVIII 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.

23


First Class Mail U.S. Postage Paid Louisville, Ky Permit No.1498

PO Box 91225 Louisville, KY 40291 Return Service Requested

THE Local Resource for Landlords, Rehabbers & Wholesalers Meeting the 4th Thursday of every month (except November & December) at Woodhaven Country Club, 7200 Woodhaven Road, Louisville, KY 40291 KREIA.COM • twitter.com/reiaky • instagram.com/reiaky • youtube.com/KreiaDotCom facebook.com/reiaky (public) • facebook.com/groups/kreiaky (private)

UPCOMING EVENTS  June 7 — 5 p.m.-7 p.m. KREIA Happy Hour. Networking at a local restaurant. Check your email. Members only. Local investors give a house-flipping overview and offer tips on  June 13 — 11:45 a.m.-1:30 p.m. KREIA Indiana Sub-Group how to rehab and retail houses. Thursday, May 24, 5:30 p.m. Luncheon Meeting. Meets the 2nd Wednesday each month at  Early Meeting: Attorney Harry Borders Tucker’s Restaurant in New Albany on State Street and I-265. You buy your own lunch. Brian Haeseley chairs. Rehabbing Saturday Workshop  June 21 — 6 p.m.-7:30 p.m. KREIA Game Night: CashFlow. CashFlow with other "KREIA advertising Learn how to run the numbers in a classroom, then tour a rehab Want to get out of the Rat Race? Play is by far, hands down, the investors pursuing financial freedom. in progress. Saturday, May 26, 9 a.m.

Rehabbing for FAT Cash

absolute best advertising

 May 29 — noon-1 p.m. L.O.T.S. event. Location TBD. Check your email. Members only. Lunch is provided.  June 5 — 11:30-1 p.m. Louisville Lunch and Learn. Members only: Check the private Facebook group. You buy your own lunch. Ed Gibson is the organizer.

dollar ever spent for “We belong to 5 different associations as well as spend Borders but & our Borders!" advertising $$ with several other companies, KREIA membership is without a doubt the best ROI of anything we've done. A+++” — Steve Brown, River City Clean Team LLC

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


Turn static files into dynamic content formats.

Create a flipbook