April 2020 KREIA Newsletter by KREIA .com

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 04-20 April 2020 Virtual Main Meeting: The State of Kentuckiana Real Estate

Dennis Erhard: What I’m doing right now

Mike Butler & John Schaub: Coronavirus $urvival Tips

Legal Corner: Michelle Rawn gives an update on the courts

2020 KREIA Elections: Now accepting nominations

Erik Hitzelberger: Focus and 14 fortitude are what’s required now Mike Fallot: Lessons learned

Chris Judd & Pam Merritt: Investing during COVID-19

Jordan Pohn: 2nd stage of the coronavirus – moving forward

KREIA Photos

Nina Musgrave: Source U.S.made materials for your rehabs

National REIA News Roundup

Leigh Wise: Managing your business through a crisis

Diana Jones & Ashley Smith: New remote bidding features

Dear KREIA Members and Friends, The April monthly meeting regularly scheduled for the fourth Thursday At Woodhaven has once again been cancelled, but it will be presented online for your virtual viewing on the same day and time. Please be on the lookout for an email detailing how to watch the virtual meeting this month online. The KREIA board and volunteers are working hard to keep bringing Chris McCarty you the latest information. Please consult the website at KREIA.com for updates, content and information. I have spoken and counseled real estate friends and KREIA members many times on the need to act with caution and prudence in real estate investing. Cash reserves and manageable debt loads have always helped to navigate any storm. The inevitable recession or economic unease are periodically expected, but the COVID-19 event and subsequent financial tsunami is a total “black swan” event that no one could have planned for or with any reasonableness predicted. We have all heard of the possibility of a pandemic, but the whole world was blindsided by this one. I have heard estimates of as much as a 30% loss in Gross Domestic Production for the U.S. economy in the second quarter of 2020, and this pandemic will require some time for the economy to recover as we eventually move past the isolating and make adjustments to our lives. KREIA members cover most segments of the real estate investing spectrum, and some segments will be impacted more so than others. Short-term rentals have been hardest hit. Commercial tenants most affected by loss of retail sales, and public-facing businesses like restaurants appear to be next in the queue for problematic rent collections. The wholesalers in our group are also reporting disruption in the buying and selling process. At our recent online board meeting, the board members and other landlords I have talked with have reported solid residential rent collections for April with not much change from last month. Metro Louisville and this part of the country have been fortunate and not been as affected by the virus that other markets have experienced. The mortgage markets also seem in some transition now as they are sensitive to the same disruption as everything else, and just like Wall Street, they are adjusting risk Continued on Page 4

Lauren Willoughby: Educational 36 resources online Copyright MMXIX 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 Chris McCarty

Advertise With KREIA

Secretary Erik Hitzelberger

Vice President John Jones

Treasurer Mike Treasurer-Elect 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 is $20. Premium Levels: These four advertising levels include your ½-page ad in each issue.

Rue McFarland

George Foree

Dennis Erhard

Frank Miller

Lauren Willoughby

Greg Nalley

Hampton Scurlock

Katie Crotzer

Rob Bergeron

Rick Littrell

Christopher Jaquith

Jordan Pohn

ParliamenPast tarian Michelle President Rawn Eric George

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 & more. Work shoulder-to-shoulder with active investors! 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 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 support@KREIA.com if you: Want to advertise on KREIA.com • Need help • Have a question

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 . . . . . . . . Reserved Includes extra promotion. There can be only one advertiser at this level. Our current Platinum Sponsor, MM Lending, holds exclusive renewal rights until 2021. Questions? Catch up with KREIA Sponsor/ Advertiser Chair Dennis Erhard at the meetings. Or email support@KREIA.com.

Join KREIA Joining KREIA is easy: Go to KREIA.com and click the "JOIN" option on the menu. Tell all your investing friends. The cost to join as an individual member is $125 per year, with a door fee of $20 at our monthly meetings (which covers the buffet meal and rent on the hall). 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 MMXX 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.

Join us online for April’s KREIA Meeting

What Am I Doing? Here’s What…

In our Coronavirus-afflicted world, things are changing rapidly. Plus, we’re having to listen to lots of conjecture. Some folks are spouting doomsday scenarios, and others are almost giddy with the idea that a downturn in the economy will bring floods of bargains to the market. If you’re in the middle of all this, wondering what the heck to do right now about your rental properties and house-rehabbing projects, we hear you. At our April 23rd meeting, we’re looking to cut through all the guesswork and deliver what we know to be true – we’re going to present the facts as we know them.

By Dennis Erhard

Call it KREIA’s “State of the Union.” For every major facet of the real estate investing business, we’re bringing on active investors and knowledgeable folks to share their research and experience and tell us what they know. We’ll be offering quick presentations on these topics:

• Real Estate Market: U.S. sales stats, local stats, Realtor retention, what iBuyers are doing • Banking: A look at how national and local banks are lending and handling refis. We’ll also be checking in with local hard money lenders and private lenders. • Rentals: Details of the impacts local landlords and tenants are feeling right now, along with the experiences of landlords in pursuing relief opportunities • Wholesaling: Impacts for buyers and sellers • Rehabbing: We aim to answer these questions – “Are material suppliers still delivering what we need to finish rehabs? Any hitches in getting permits? Finding workers?” • Airbnb: A look at cancellation rates and alternatives to cover costs Got questions? Please get them ready. We’ll be using the Zoom videoconferencing platform to reach everyone. Watch your email and KREIA’s website for details on registering.

A KREIA Past President shares his Coronavirus game plan Twelve years ago, in 2007, I bought a property in the Highlands to fix and flip. Little did I know at the time that one deal would shape my business model forever. I paid $140K. ARV was $320K. I did an $80K remodel. Sounds great, “RIGHT”? Then 2008 hit and almost overnight I was upside-down. Sold it for $210K. With holding costs I lost $40K. NEW RULE for Dennis: DON’T BUY ANYTHING I’M NOT WILLING TO KEEP FOREVER!!! Many investors have asked, “What are you doing with all the craziness going on?” That’s a great question. But the best answer is going to be different for each investor. As for me, here’s what I’m doing: Step 1. I sent out a letter to all my tenants and gave an option for each to receive a 50% discount on April’s rent. SOUND CRAZY? Well, my opinion is that it DEPENDS. Your cash position would have to be strong to do this! Step 2. Yes, I’m working on a plan to collect rent in May. The fact is, the court systems are shut down until who knows when for sure. THIS in my opinion is an opportunity to connect with your residents and WORK IT OUT! Sounds like lease extensions (where allowed), maybe a payment plan. WHY NOT? This isn’t over yet. When you throw a stone into the water, there is a ripple effect. The markets are changing daily. We can’t “Right now, my evict anyone right now. biggest to-do is to Of course there will be one or two bad apples in restructure debt, kick the bunch. Deal with that the can down the road, after the fact if they refinance, and most won’t take cash for keys. The court systems will important, PREVENT start back up eventually. EMPTY HOMES!” Step 3. Whether you need money or not, apply for the PPP (Payroll Protection Program) if your company fits the box. Unless the government changes something, we aren’t just going to be able to stop paying our mortgage payments, our taxes, the insurance, and everything else it takes to keep properties running. The SBA is in charge of qualifying banks. Pick a bank that’s already good to go. The funds are first-come, first-served. I applied through Fifth Third Bank. Here’s the link to the 31-page set of rules: https://www.benefits.gov/benefit/1504 Continued on Page 34

Welcome, New KREIA Members! Byron Bishop

Dorrell Smith

Julian Paul

David Wright Jr.

Thomas Pfister We hope to meet you soon at one of our monthly meetings at Woodhaven Country Club. At your first meeting there, be sure to ask for your copy of KREIA’s 2020 Member Directory. In the meantime, please check out the resources below….

KREIA’s New Member Orientation There will be a monthly presentation of the benefits of joining KREIA at every monthly meeting. The presentation will be given from 6:15 p.m. to 6:45 p.m. in the early meeting room at Woodhaven Country Club. If you bring new investors to a KREIA meeting, please point them toward the orientation. See the presentation online: Review board member Rick Littrell’s new member orientation PDF, watch a video of him walking through KREIA’s many benefits, and learn how to secure your Home Depot discounts and cash-back bonuses here: kreia.com/MemberBenefits.aspx

President’s Letter Continued from Page 1 models and determining the best path to move forward as approvals and ratios could adjust in the underwriting markets. Lower interest rates will ultimately be a great beneficiary to mortgage debt, but it will likely take some time to access, and a massive new wave of refinancing likely will follow these lower rates, working to build additional cash flow for all borrowers. So far in this letter, I have written the facts as I know them, have studied closely and watched each day for a glimmer of hope, truth or likely outcome. For sure, I do not have an answer other than what I read, have been told or what my experience and common sense tells me. I do know that this event will pass, hopefully sooner than later, and the U.S. economy will recover and we will continue to find opportunities that will move our businesses and our country forward just as has always happened in the past. No matter the downside, recovery will be on the way. My advice is to proceed cautiously, keep what you currently have secure and watch for opportunities in the near future. Do what it takes to position yourself to come out on the other side of this, whatever that looks like, for your own individual circumstances. Unlike as with previous economic challenges, few people will be unaffected by this in some way. Financial institutions, landlords, lenders and borrowers will and should all offer a wide margin to help and assist each situation without heavyhanded tactics. The upside in our business is that buying opportunities will continue and people still need to sell and buy. The same fundamentals that were driving the economy six weeks ago are still here. Find ways to adjust your business models to capitalize and maximize your opportunities. Stay safe and work smart. Chris McCarty KREIA President

GOVERNMENT AFFAIRS LINKS State Government Roundup Kentucky Realtors Legislative Updates. Read weekly updates on bills in play in Frankfort at the Kentucky Realtors’ site: bit.ly/KYR_LEGU

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Local Government Roundup Louisville Metro Government: Get a summary of local affairs (and state) by the Greater Louisville Association of Realtors (GLAR): bit.ly/LRGAU Copyright MMXX 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.

Some of KREIA’s national sponsors via National REIA. For the full list, and info on discounts, visit nationalreia.org/benefits

Coronavirus $urvival Tips for Investors By Mike Butler & John Schaub John Schaub and I just did a short video on helping investors in today’s market. John Schaub is a good friend, mentor, and author of several best sellers including “BuildWealth One House at a Time.” View the video online at MikeButler.com/mikejohn and get your Free Coronavirus Tenant Hotsheet. No need to have a big introduction. It’s here, it’s something never seen before, and it has caused a huge meltdown of our economy with no end in sight at this time. There are no experts in this arena because there is no person who has experienced this before now except for John Schaub. This is his ninth recession. Just like you, we cannot tell you how many webinars we’ve attended, newsletters we’ve read, websites we’ve researched, and more, trying to find a simple solution to $urvive, along with identifying future opportunities. Most of all, what we’ve found is that the majority of the relief packages and their free money are changing on a daily basis. Therefore, you will not have to listen to our version of how to apply and how each program works. This is wasting your time because we are not the experts on these programs – and the processes keep changing every day or two. Let’s Get Started With a List of Resources to Help You Now. ► FindHelp.org: this website, enter your zip code and you will see a boatload of programs in your area for financial help now. We cannot verify the accuracy of this website, but it’s a good, simple and fast start. ► SBA.gov – snapshot from website. FYI, it looked totally different 2 days ago.

The CARES Act funding options shown above are processed via banks. You can get faster funding by using a local bank, especially if you have already established a great relationship. If not, your local credit union can also process all of the CARES Act benefits for small business.

► State Government, Kentucky: • https://kcc.ky.gov/career/If-you-areUnemployed/Pages/default.aspx • Enhanced, more money, unemployment processing. • May have more additional financial assistance programs ► Metro Louisville Relief Fund: • https://louisvilleky.gov/government/resilience-andcommunity-services • Mayor Fischer announced Metro Louisville has about 3 million dollars to give away. Make sure your tenants get a chunk of this free money to help pay your rent. FYI, we started receiving these checks before April 1st. It works. WARNING: There’s a lot of evil people in our world who try to steal money from folks, especially the elderly, by creating all kinds of scams and fraud. Jim Baker, of the Jim and Tammy Baker era, has been caught selling bottles of “Silver Something” that cures Coronavirus. $80 per bottle! And it’s a fraud. BEWARE of all of the robo-callers pretending they are some kind of government agency who will be processing your application. Once you give them your name, birthdate and SSN or EIN number, they do the Toyota Happy Dance and immediately charge all kinds of stuff in your name. Now It’s Your Turn! Some things to take action on right now to help you and your real estate business. MUST Do for YOU: if you are planning on getting financial assistance resulting from the CARES Act, ALWAYS slow down and read all of the fine print involving the financial assistance. You will find rules, limitations and more affecting this assistance. If you do not understand it, reach out to your competent expert to help you. If you decide to sign on the dotted line to get money, open a brand new checking account used exclusively for what this money must be used for. For example, the PPP Payroll Protection Program proceeds gets deposited into your new checking account and use it only to pay your employees. Do NOT deposit it into your regular operating account. Let’s Do a Quick Summary Review 1. HEALTH and SAFETY: follow all of the recommended guidelines to protect yourself, family, and friends from this never-seen-before Coronavirus Pandemic. Be creative. Harry Borders hired someone to create a plexiglass contraption to protect himself, staff and me and you! 2. FINANCIAL HELP for YOU and Your Business. The Feds recently passed the CARES ACT and are dumping TRILLIONS of Dollars into our economy. Take advantage of all of the FREE Money in forgivable loans. Carefully review all of the Continued on Page 14

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LEGAL CORNER

Court Update: Eviction Filings Need to Wait By Michelle Rawn As all of you know, we are in uncharted territory and very strange times. As part of the COVID-19 guidelines and precautions, courts both in Kentucky and Indiana have been shut down for all non-emergency cases, which includes evictions. Below is an explanation of the different orders currently in place in Kentucky and Indiana and eviction restrictions for those properties that fall under the guidelines in the CARES Act. Courts in Kentucky are currently scheduled to reopen on June 1, 2020. Pursuant to Order #2020-22 of the Supreme Court of Kentucky, eviction filings shall not be accepted by the circuit court clerk until 30 days after expiration of this Order (July 1, 2020). Pursuant to Executive Order 2020-257 signed by Governor Beshear, evictions are suspended for the duration of the State of Emergency. Potentially, these are conflicting orders as there is not any guarantee that the State of Emergency in Kentucky will be lifted by July 1, 2020. Nothing in either of these Orders relieves the tenant from his/her obligation to pay rent. That being said, Governor Beshear has acknowledged that evictions for dangerous criminal activity and serious threats to health and public safety should be able to proceed. If you have an eviction that you believe falls into this category, then you must give the appropriate notice (14 days in most situations, unless you fall under the CARES Act and then a 30-day notice is required) and complete a waiver request (your eviction attorney can handle this part for you). The Governor’s office will review the request and if they feel you have met the above criteria, then they will issue a waiver for the landlord to move forward with filing the eviction prior to the June 1, 2020 date. In Indiana, pursuant to Executive Order 20-06, no eviction action or proceeding involving residential real estate or property, whether rental or otherwise, may be initiated between the period from the date of this Executive Order until the State of Emergency has terminated. Pursuant to Executive Order 20-18, the State of Emergency and the closing of the courthouses for all non-emergency cases has been extended through April 20, 2020. Nothing in either of these Order relieves the tenant from his/her obligation to pay rent. In addition, the CARES Act applies to those properties, both multi-family and single family, where the loan for the property is backed by Fannie Mae, Freddie Mac or the HUD; the property is a tax credit development; or the tenants are receiving government assistance with rental payments,

2020 KREIA Election: Open for Nominations It’s that time of year again for the KREIA election. The Election Committee would like to inform you of the election procedure. This year, due to COVID-19, things may have to be handled differently if we are unable to have a live meeting in June. Updates will be provided as we have more answers. KREIA is run by a board of directors consisting of five officers (President, Vice President, Secretary, Treasurer and Treasurer Elect), 12 at-large board members, the immediate Past President and the Parliamentarian. The officer positions serve for a one-year term, while the at-large board members serve for a two-year term, with six new members being elected each year. The only exceptions are when an at-large board member chooses to run for an officer position before his/her two-year term has expired; or has to leave the board prior to the end of his/her term. There are no term limits, and all incumbents may run for reelection if he/she so desires. Nominations will be taken via email this year as both the April and May meetings will most likely be virtual meetings. Please email Michelle@rawnlawfirm.com if you are interested in running for the board. Nominations will be closed after the May meeting, and the election will be held at the June regular meeting. This means any emails received after May 28, 2020, will not be included in the elections for 2020. Those elected at the June meeting will be sworn in to take office at the July regular meeting. Since we are currently unsure if we will have a regular or virtual June meeting, Lauren Willoughby and I are working to set up a link on the KREIA website for absentee voting. Once this is up and running, we will update everyone on the process. Once the ballot is finalized after the May meeting, you can also email me directly for a copy of the ballot and then return it to me via email to be counted. If you would like to nominate someone or if you would like to run yourself, please contact me at Michelle@rawnlawfirm.com. If you are nominating someone else, please provide contact information for that person so I can confirm they are willing to run for the KREIA board. All board members are required to participate on at least one committee. Several members are actively involved with more than one committee and several are a committee chair. In order for KREIA to be successful, all board members are required to be active members helping at all KREIA events, including volunteering to help at the main meetings and educational events. If you have any questions about the election or governing process of KREIA, please feel free to contact me. – Michelle Rawn

including but not limited to Section 8. If any of the above guidelines apply, then eviction proceedings for nonpayment of rent may not be filed until the end of July and the notices given are all required to be 30-day notices. As all of us know, things are still changing on a daily basis. Please feel free to reach out to me to see if there have been any more developments or updates. I hope you and your families are staying safe and healthy. Michelle R. Rawn Tel: (502) 639-9396, Fax: (502) 276-0607 Email: Michelle@rawnlawfirm.com

Focus and Fortitude Are What’s Required Now By Erik Hitzelberger “Everyone has a plan until they get punched in the mouth.” Mike Tyson’s words have always rung true both in the ring and out, but they seem especially prescient now. Our businesses, our investments and our finances have taken a punch. Good residents are suddenly unable to pay, previously qualified buyers are no longer able to purchase, scheduled Airbnb bookings have been cancelled and last month’s willing lenders are now ghosting us. The plans we made and the goals we set just a few short months ago seem laughable. The only things we can rely on at the moment are uncertainty and volatility. Now more than ever our businesses need our focus. This is a cash-flow problem and finding the solution to every cash-flow problem follows the same basic steps. 1. Understand not only what our monthly expenses are, but also which ones can be cut or delayed 2. Determine how much reliable income we have to cover the expenses 3. Figure out what we can sell or borrow if income doesn’t exceed the expenses 4. Have the fortitude to make hard decisions in the short term in order to preserve the long term The final step is often the hardest, but we can’t sit back and hope that our residents pay us, lending standards relax or the economy recovers quickly. Hope is not a business strategy. We must seize control of the things that we can and take the necessary actions. Here are a few possibilities: 1. Expenses: Talk to your lenders (and CPAs) about deferred payments, interest-only payments and/or forbearance 2. Expenses: Cancel utilities on vacant properties. Return rented furniture on short-term rental properties 3. Expenses: Delay renovations, capital expenses or rehabs where funding isn’t available 4. Expenses: Check and double-check all of your numbers before proceeding with a purchase 5. Income: Apply for the PPP and/or EIDL loans 6. Income: Lower your rents or offer move-in discounts to get vacant properties filled 7. Income: Convert short-term rentals to long-term even if it’s as a 3- or 6-month rental 8. Assets: Sell a property 9. Assets: Take advantage of the 401K/IRA provisions in the CARES Act 10. Liabilities: Draw on unused HELOC or lines of revolving credit No one wants to do any of these things, and each carries a cost or a degree of risk. That being said, making the tough

decisions is what separates us as Leaders, Owners and Investors. Take pride in knowing that you are leaning in when others are running away. After all, Vince Lombardi offers us the perfect counter to Iron Mike: “It’s not whether you get knocked down, it’s whether you get up.” Erik Hitzelberger serves as Secretary on KREIA’s board and is a former KREIA Vice President. He is a principal in Freedom Property Group, a turnkey company that rehabs houses and sells them to passive investors, taking care of property management. You can contact him at (502) 921-3989 or Erik@fpg-ky.com. Mike Butler and John Schaub: Coronavirus $urvival Tips for Investors Continued from Page 6 details and the FINE PRINT involved with each of these relief loan packages. 3. FEDs Have Dropped Interest Rate to Almost ZERO%. Although this is seldom mentioned in all of media-hype, reach out to your local loan officers at both banks and credit unions to see if have lowered their interest rates on investor loans. If yes, give serious thought to doing Cash Out Re-fi’s to create your own pile of cash to invest in more great deals that will surface during and after this economic meltdown is over. 4. Help Your Tenants: Be Pro-Active. If you have great tenants who live paycheck to paycheck, and they have not paid April’s rent, reach out to them now and help them find financial assistance. As a last resort, ask them how much they can pay now. If their rent is $1,000 and they say they can pay $600, Grab It Now and tell them you will put the $400 on the shelf and we will set up a payment plan once they get back on their feet. Lastly, if you could share your success stories and strategies in this economic meltdown, we would love to pass this on and share it to help as many people as we can. Stay Safe and Stay Tuned for more Coronavirus Updates for Investors. ● See MikeButler.com and JohnSchaub.com for more Information.

Attorney Harry Borders works a closing behind plexiglass.

Lessons Learned During Uncertain Times By Mike Fallot In years to come, many current KREIA members will recount their experiences and lessons learned from the 2020 pandemic that strengthened their skills and resolve and helped them endure and succeed. It is said that experience is a wicked teacher – it gives the test before it provides the lesson. Since we are in the midst of the test, now seems like a good time for all of us to begin to reflect on the lessons we are learning. Before sharing my thoughts, I want to express my gratitude to all of the healthcare workers, essential workers and first responders who are tirelessly working on the front lines. If you or members of your family are filling these important roles – thank you! It has also been gratifying to see KREIA leaders and members working closely together (from far way) to share concerns, knowledge, advice and support. Many great insights and strategies have been shared. In times of uncertainty, it is helpful to re-visit and affirm the core principles that our businesses are built on – ultimately, these are what are being “tested” by the pandemic. My lessons learned from the “test” so far include:

► Maintain a clear vision of your business goals. Housing will always be a vital and valuable part of our economy, and investors are a critical component of the housing ecosystem. Your tactics may change dramatically, and you likely will suffer some losses – but stay focused on your goals. ► Integrity and character can and should survive intact, even when your business suffers the inevitable losses that will result from the pandemic. Communication, transparency and timeliness are vital now – especially when there is bad news to share. It is a lot easier to rebuild assets than it is integrity. ► In all transactions, make sure every participant has a very good opportunity to succeed – and be willing to go the extra mile to help them succeed. As a lender we must be flexible to help our borrowers adjust to their changing conditions; as landlords we need to be prepared to offer deferrals and concession to those that need it; as borrowers we need to be transparent to our lenders regarding our circumstances and needs; as wholesalers, realtors, contractors and suppliers we need to evaluate what we can do “extra” to make sure we are helping our customers succeed. ► Investors operate in a leveraged and connected world – we are dependent on each other for deal flow, transactional Continued on Page 32

Investing in Real Estate During the COVID-19 Pandemic By Chris Judd and Pam Merritt of 2nd Wind, LLC This pandemic is unlike anything we have experienced before, but that doesn’t mean we can’t apply what we already know. Major economic shifts mean major opportunities for those who are looking and keeping their heads above water. Keep your wits. A lot of people will be panicking. This is no doubt a serious issue, and we do not want to make light of this terrible situation, but that does not mean we have to panic. In reality, one effect of low bond yields is ultra-cheap mortgages. The average interest on the 30-year, fixed-rate mortgage, according to Freddie Mac, is now just 3.45%. It’s a three-year low that many expect to get even lower. You’d think that would be great for the real estate market. But all that uncertainty driving rates lower is on the minds of home buyers and business owners, too. Keep your wits, control what you can control and stay focused on your end goals. A lot of investors and individuals will be getting rid of properties during this time. At 2ndWind Properties we are still being contacted by sellers daily, and at this time we are still actively looking at properties that are vacant or switching to virtual appointments with the sellers. That is – having them shoot us video or pics of the interior of the home – and Jason (our principal investor) will do an exterior walk around. If the property is vacant, we practice social distancing and take health precautions with masks, gloves, etc. We are still purchasing and selling with the help of our amazing closing attorneys and all of the precautions that they take to protect everyone and get the job done. We are also staying in touch with our sellers from previous appointments with extensive follow-up and letting them know that we are still here and looking forward to helping them with the sell of their home. Utilize Technology While we’re practicing social distancing, this next piece of advice is paramount – utilize technology. The real estate industry is years behind the rest of the market, but by taking advantage of emerging technologies you can continue business as usual. As mentioned before, we are taking advantage of virtual appointments using software such as Zoom for virtual meetings and Google Drive for quickly sharing photos. Nowadays most real estate-related business can be handled remotely – even signing legally binding documents. A few industry standards are docusign and dot loop.

Listen, Look, and Lean-In Remember the 3 L’s of lead generation we wrote about in our previous article: https://2ndwindproperties.com/the-3-lsof-property-lead-generation/ Now is the perfect time to put those in practice. There will be a lot of spooked investors and struggling homeowners who need to change their financial situation, and this is a great opportunity to be the helping hand if you are still purchasing properties. Keep an eye out on social media and be sure to leverage your own platforms to let people know you are still investing. We did follow up with a seller who had a very unique situation in selling his mom’s house. We were not able to initially get the house under contract, but after following up with the seller last week we discovered that he had signed a contract with another buyer. As soon as the virus hit, though, the buyer backed out of the deal. We were able to revisit the deal and put the house under contract and close 5 days later. Had we not followed back up with that seller, we would have lost the deal and the seller would have had to start all over in this very uncertain time. 2nd Wind, LLC is dedicated to serving the needs of our local investors. We specialize in identifying and purchasing quality properties that provide unique opportunities to our growing network. We understand how difficult investing in real estate can be to newcomers and that even veteran investors can get burned out in this industry. We believe that sometimes all you need is a little push to get over the finish line to financial security. The name “2nd Wind” came from our desire to provide the helping hand our investors need to make it through the buying process and take their portfolio to the next level.

Quotable Quotes “A champion is defined not by their wins but by how they can recover when they fall.” – Serena Williams “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full and managed with reasonable care, it is about the safest investment in the world.” – Franklin D. Roosevelt

2nd Stage of the Coronavirus – Moving forward! By Jordan Pohn I wrote an article in last month’s newsletter as the virus pandemic was at its beginning stages in the United States. The juxtaposition of that article, just one month ago, and this one, is astonishing. Things are moving with such speed, this article will seem antiquated when I write my follow-up next month. When I wrote my article last month, we were all beginning to learn that the virus, and the potential repercussions, economic and otherwise, could be something that our generation has never seen. Although the virus has had a major impact, there have been some very positive steps that should mitigate the damage and provide benefits to all of us. First, the number of projected cases has been cut by at least a third. This is important on two fronts: first and foremost, on a humanitarian level, and second, on an economic front, which benefits everyone from a financial perspective. In addition, the government is taking unprecedented measures to keep the economy moving in the right direction. I’ll start with something that can financially benefit most of the people in this room, even if you are a one-man shop. You will hear different terminology – SBA, CARES Act and PPP (Payroll Protection Program). Ultimately, all of this has the same meaning to each of you – FREE MONEY! Yes, I said FREE MONEY! The government allotted $350 billion to assist those with less than 500 employees (as I am writing this, Congress is going back to the drawing board to get $250 billion more). There are two buckets of money available. The first bucket is given to you as a forgivable loan. You DO NOT have to pay it back! Let me repeat that, the government is giving money that you do not have to pay back! Get your track shoes on and get to your bank, now! You should go the bank that you have a relationship with. Generally speaking, if you’re deciding between two, a local bank will be much easier to work with than a national one. Although it is a federally funded program, the money will be distributed through your bank. The bank will then get reimbursed from the government. It is on a first-come, firstserve basis, so GET MOVING! (One caveat, please speak with your CPA or attorney to ensure you complete the application correctly). Third, the stock market is in a much different position from what it was one month ago. I know most of you do not invest in stocks, but the correlation between the two cannot be ignored. Last month, the stock market was in a spiral, and the volatility was off the charts. Nobody knew what was going to happen from one minute to the next. At one point, the market was down 30% from its high. Now, just one month later, it has rebounded 25% from that low.

The combination of speed and gain has not been seen since we came out of the Great Depression in the 1930s. Even if you are not invested in the stock market, it is still great news. The stock market is generally indicative of the economy as a whole. If the stock market is doing well, the real estate market usually follows suit. A simple look over the last 11 years will prove this out. From 2008 – 2019 we had the longest bull market run in the history of the stock market. It went up for ELEVEN STRAIGHT YEARS! As you guys know, the real estate market followed right along. However, don’t be fooled, the stock market is still volatile, and even the best prognosticators cannot agree where it’s headed. With this knowledge in mind, I don’t think anyone can predict with conviction where the real estate market will land. I will mention the same words I wrote in my last article: “Cash is King.” In an uncertain world, make sure you have your mattress money. Lastly, and I alluded to this in my last article, the 10-year treasury note (which directly correlates to mortgage rates) is very low. That is the good news – who doesn’t want a lower rate? The bad news is the lenders are flooded with applications and are taking a very long time to process a loan – up to 90 days. In fact, several banks have increased their pricing to slow down the amount of applications. In addition, due to the economic uncertainty surrounding the virus, some lenders have become more stringent with their guidelines. The minimum credit score may have increased, the maximum debt ratio may have decreased or the loan-to-value guidelines may have changed. The banks are being very careful right now. Banks are conservative by nature, and lending in uncertain times is not in their wheelhouse. On a positive note, there are some really good local banks that are doing a great job. You should ask around to find the right ones. On a local note, the KREIA hard money lenders are liquid and are still lending. The underwriting may be a bit more rigorous, but the speed and ease you have come to expect will still be there. I’m at the end of the article and just realized something. Yes, these are tough, unprecedented times; however, most of the items I mentioned here are positive. This leads to my final point – don’t focus on the negatives. It can be overwhelming. There is plenty good in the world …. even now. I look forward to speaking with everyone on our first official KREIA Zoom call. Jordan Pohn is a principal in the fix-and-flip lending company SurePoint Equity, a KREIA advertiser. He is also KREIA’s newest board member. For more information, please visit Surepointequity.com or contact Jordan at 502-445-1011 or Jordanpohn@surepointequity.com.

Above Left: Joanna Dennis’ children Jackson and Charlotte accompany her on her well checks of rental houses and find ways to perform their own due diligence. Above Right: When you pick up the phone and hear “Ed Gibson here,” picture Ed Gibson there, in his home office. (Word to the wise: Never challenge Ed to a duel. He’s ready.) At Left: It looks like Walter, Rob Bergeron’s dog, is sleeping off a walk in the park. Or a bite of stolen Chipotle. Below Left: Finley the Foxes make great companions for these cuties – Lleyton (front), Chris McCarty’s granddaughter, and Reagan, Margaret Reed’s granddaughter.

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George Foree and Katie Crotzer spearheaded a drive to deliver food to 44 needy families. (At left, Katie’s husband, Wil, loaded the truck.) Recipients were “people living in barns, cars, shacks. Disabled veterans and elderly people on limited income,” Katie said. Can you donate money, dry goods, canned goods or your time? They need help! Email katie.kma@aol.com to volunteer. Copyright MMXX 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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Support America Now: Buy USA-Made Items Purchasing Domestically-Made Materials Keeps U.S. Strong in Time of Crisis By Nina Musgrave Outside of real estate, my family owns a small business that’s sold only USA/Unionmade promotional items for 30 years. I’ve witnessed firsthand the exodus of manufacturers from the USA. It repeatedly broke my heart to let customers know, “I’m sorry, that product is no longer available Made in the USA. The company moved their manufacturing facilities overseas.” I always wondered, “When will we again realize the value of buying USA-made items? What’s it going to take?” I had bets on a revolution, not a pandemic. But alas, here we are. Over the last decade, new policies have helped U.S. manufacturers come back home. While we are nowhere near the capacity we once had, new factories are starting and old ones are returning. When you are out shopping for materials, do you look for the country of origin? I have started compiling a list of USAmade remodeling supplies, and I will keep updating the list online. If you’d like the link or have any companies to add, please email me at onlyonenina@gmail.com Will you join me in becoming a Label Looker?

USA-Made Building Material Manufacturers Lanning Paint

Paint

Wellborn Cabinet

Kitchen Cabinetry

ATI Decorative Laminates

Laminate, Panels

Tiger Foam

Spray Foam

Stainmaster Carpet

Carpet

Just Manufacturing

Stainless-Steel Sinks

Mansfield

Toilets, Tubs, Pedestals

Continental Flooring

Floating Floors

Daltile

Tile

Owens Corning

Roof & Materials

Louisville Brick

Fire bricks

Trim-Tex

Drywall Finishing

National REIA Real Estate News Roundup

White Paper Evaluates Coronavirus’ Impact on Housing Market

What will be the impact of the Coronavirus pandemic on the housing and mortgage industries? That’s the topic of a National REIA, of which KREIA is a chapter, reports on new white paper from Black Knight that does an early comissues affecting real estate investors and also provides links prehensive evaluation of the current state of the market, the to stories of interest from other organizations. Here is a pandemic’s potential impacts, and explores solutions that sampling of recent news and resources that Brad Beckett, NREIA’s Director of Education & Outreach, has compiled. For have the ability to mitigate negative effects. Read the full report at Black Knight: bit.ly/k2004_knight more news, visit realestateinvestingtoday.com

69% of Households Paid Rent by 4/5 Tourist Towns Tell Folks to Stay Away The National Multifamily Housing Council says that 69% of During Pandemic households paid their rent by April 5th. This figure is 12 points less than the percentage that was paid by March 5th and 13 points less than one year ago. Read the full release: bit.ly/k2004_rents

Rural Areas Seeing Interest From Buyers During Pandemic

It’s an unfortunate sign of the times during our current national emergency: Tourists are being turned back from the Florida Keys. Even the Outer Banks of North Carolina has roadblocks in place. A recent story in the Wall Street Journal (reposted on Realtor.com) reports that authorities in resort towns are taking extraordinary measures to protect their permanent residents from the Coronavirus. Read the story at Realtor.com: bit.ly/k2004_towns

Redfin says that small towns and rural areas may be set to boom in the wake of the Coronavirus pandemic as homebuyer interest in America’s less populous areas saw a surge in March. Their data show that page views of homes in rural areas and small towns were up 115% and 88% respectively. According to ATTOM Data’s 2019 property tax analysis, Read the report at RedFin: bit.ly/k2004_rural total property taxes levied on single-family homes in 2019 totaled $306.4 billion, up 1% from 2018. This figure averages to about $3,561 per home (up 2% from 2018), which is an It’s easy to forget during the pandemic that there is a still effective tax rate of 1.14%. The report looked at the property a census being conducted by the federal government. As you tax data for over than 86 million U.S. single-family homes. Read the report at ATTOM Data: bit.ly/k2004_taxes may recall from high school civics, the U.S. Constitution mandates that a census be conducted every 10 years…. See the infographic: bit.ly/k2004_census

Property Taxes on SFRs Surpassed $300 Billion Last Year

How Census Housing Data is Used

Counties on the Front Lines of a Coronavirus Recession With the Coronavirus pandemic having America firmly in its grasp, a recent article on Realtor.com says the economy appears to be headed for a recession, if it’s not already in one. To that end, they crunched the numbers to identify those U.S. counties that could be most at risk. Read the full story at Realtor.com: bit.ly/k2004_frontlines

FBI Reports Rise in Coronavirus Fraud We have had several posts about the dangers of cybercrime over the past few years. Recently, the FBI said they have seen an uptick in the number of scams and methods for cyber-criminals to steal your money, personal information or both during the current Coronavirus pandemic. Read the FBI release: bit.ly/k2004_scams

How Does a Crisis Affect Your Investment?

Managing your properties during any crisis is a challenge, let alone the current Coronavirus pandemic we’re experiencing. On a recent episode of the Rent Perfect Podcast, David Pickron talks with longtime property manager and seasoned housing provider Anne McCawley about how to manage properties during a time of crisis. Watch on YouTube: bit.ly/k2004_manage

COVID-19 Resources Have you stopped by kreia.com recently? We’ve given prominent placement on the home page to: ► KREIA’s resource page, maintained by Nina Musgrave kreia.com/Page.aspx?ID=COVID-19-Resources ► National REIA’s COVID-19 Updates page nationalreia.org/covid-19-updates/

Managing Your Business Through a Crisis By Leigh Wise The magnitude of this current crisis is likely to impact everyone across the globe in some way. During these uncertain times, there are techniques we can leverage to ensure we stay focused on the things we can control and come out of this with the best possible outcome. 1. Don’t panic: The last thing you want to do is make a rash decision. If you aren’t sure what to do at the moment because of volatility, do nothing. Sitting back and waiting is better than making an impulsive decision that could backfire. Never make a permanent decision based on a temporary emotion. 2. Don’t take risks you can’t afford: Every crisis will present opportunity. Whether it’s the stock market or real estate, it is tempting to be the person who made their fortune by timing the market just right and making a big move. However, taking advantage of these opportunities requires risk, and there are as many fortunes lost being overly aggressive as there are being made. There are no sure bets and we all know you can’t time the market. Unless you can truly afford it, play it safe. Consistently buying and selling in a disciplined, wellthought-out manner is smart. Just don’t try to be a hero! 3. Ask for Advice: It can be difficult to make a sound decision when emotions are involved. When it’s your money, family and livelihood on the line, reality can be clouded by emotion. Find a trusted advisor, business partner or friend who is level-headed, well-educated on the topic and honest. Share your story, ask the expert for advice and then deliberate on your options. 4. Communicate: Communication with clients, employees, tenants, lenders, bankers, business partners or any key people that support your business is imperative. If something comes up, don’t “go dark.” Lack of communication can lead to lack of trust. Stay in touch, be honest, address the elephant in the room. You are guaranteed to have better results at the end of this if you are a good communicator. Be open to working with people, be creative innovating ideas to solve problems and demonstrate leadership and confidence in your ability to manage your business through these times. 5. Use the Problem-Solving Model: It’s a proven tool that delivers a disciplined approach to difficult decisionmaking processes. a. Define the Problem b. Understand the Problem Continued on Page 32 Copyright MMXX 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.

Leigh Wise: Managing Your Business Through a Crisis Continued from Page 28

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c. Generate Potential Solutions d. Evaluate Solutions e. Select a Plan f. Implement Plan 6. Be Solution-Oriented: There is always a solution! Stay focused on removing obstacles so you can press forward. So many times, we see an obstacle and feel stuck. Do not let change or uncertainty stand in the way of your success. There is always a way to succeed. There is always another option, a better way to do something, a new idea so you can keep moving forward. If you don’t have an entire play book ready, just take the next best step… and then another… and then another. Push yourself to find the answers and keep your business moving onward and upward! 7. Stay Positive: It always feels like the sky is falling during a crisis. In reality, the crisis happens, and life goes on. We are survivors by nature, so we will always pick ourselves up, innovate, re-build and move forward. Let’s all keep our heads high, manage the curve balls the best we can and focus on driving our businesses forward to a bright future. Keep calm, be safe and carry on! Leigh Wise is an owner of SurePoint Equity and KREIA sponsor with over 20 years of mortgage lending and executive management experience. SurePoint Equity is a private lender, funding short term loans to fix-and-flip or rehab and refi. SurePoint has provided funding for many KREIA members since 2016 and is still proudly funding loans for qualified buyers during this crisis. Mike Fallot: Lessons Learned Continued from Page 16 services, capital, and other services. Change happens quickly and the impacts ripple through our investor community. Be mindful how your actions are impacting others. ► Every day we make choices on what to do and what not to do. Uncertainty may cloud our judgment. Don’t let fear prevent you from doing what you need to do; and don’t let greed entice you to do something you know you should not. There is encouraging news on the fight against the pandemic, and I am hopeful we can all stay healthy and get back to work soon to rebuild our economy. Mike Fallot is CEO of MM Lending, which makes fix-and-flip loans to investors in Louisville, Cincinnati and Indianapolis. MM Lending is KREIA’s platinum sponsor. For more information, visit mmlending.com or contact Mike at (502) 400-3011 or mike@mmlending.com Copyright MMXX 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.

Dennis Erhard: What Am I Doing? Here’s What… Continued from Page 3

If you follow the guidelines, this is a 1% loan that could be forgivable. Like a self-directed Roth IRA, YOU HAVE TO FOLLOW THE RULES TO A ‘T’! If not, you pay it back! Only the outlined expenses can be figured into the total and multiplied by 2.5 to come up with the loan amount. You count these things: payroll; health insurance premiums; mortgage interest payments incurred prior to February 15, 2020; rent payments; utility payments; and interest payments on any other debt obligation that were incurred before February 15, 2020. (Disclaimer: I am not CPA or attorney. Please seek your expert’s advice as to the interpretation of the PPP!) Step 4. I’m rolling back my rehab/retail inventory and making preparations to take homes into my rental portfolio. Don’t get me wrong! We’re going to continue to test the waters on the retail side. Right now, my biggest to-do is to restructure debt, kick the can down the road, refinance, and most important, PREVENT EMPTY HOMES! CASH is once again king. There will be deals to be bought at discounts! It doesn’t matter what part of the cycle the market is in. A DEAL IS A DEAL … RUN YOUR MATH! GOOD INVESTING!

Auction.com Reports New Features for Remote Bidding on Investment Properties By Diana Jones and Ashley Smith As most banks have placed a moratorium on foreclosure sales and evictions across the nation, Auction.com has been using this time to push out ways for buyers to continue investing in foreclosure and bank-owned properties. We now offer two ways for you to continue your investment journey while still following state mandates during this unprecedented time. Remote Bid is a feature Auction.com has rolled out to help our buyers bid on live foreclosure sales from anywhere at any time. While most live foreclosure auctions are being postponed across the nation, there are a few that are still making it to auction, and with Remote Bid you can now bid on the property while also practicing social distancing. To use Remote Bid, download the app, create your free account, register, and deposit your funds into your remote bid account. If you are interested in more information or are ready to register to remote bid, please visit auction.com/remotebid. We think bank-owned auctions are also a terrific way to invest without leaving your home. Auction.com has over 3,000 bank-owned properties ready for someone like you to invest in. The entire process from bidding, to buying, and closing can all be completed online without ever leaving the comfort of your own home. Banks are not in the business of holding real estate, so there are some hot deals on bank-owned properties now. If you are looking for your next investment property, a summer home in Florida, or a getaway property in the mountains of Tennessee, look at the bank-owned offerings. Just because we are practicing social distancing right now, doesn’t mean you can’t continue to invest in your future. If you have any questions or need any assistance, please reach out to Auction.com’s Bidder Services Lead for Tennessee and Kentucky, Diana Jones, at (615) 648-5718, or send email to dijones.pta@auction.com.

Educational Resources to Tap While Quarantined By Lauren Willoughby Downtime. We have so much downtime! Did you go into this quarantine thing last month with plans to learn a new skill, catch up on your reading, be productive, and finish all those real estate courses you bought? Me too. I hope you achieved success. Me, I ended up chasing shiny objects around the Web, mostly ogling more books to read and courses to buy. I like window shopping. And I can argue it is productive because I can share what I’ve found. And some of these online resources are free. The first shiny object that turned up was one I’ve chased before: Lynda.com. It’s like the Netflix of online instruction, an online classroom where you can take thousands of courses on everything from accounting to videography – and get instruction on most any piece of software. It turns out old Lynda has changed. With her acquisition by LinkedIn, she’s now called LinkedIn Learning. The number of video-based courses offered has tripled since the last time I looked – up to 15,000 courses now for freerange grazing – at a fee of $29.99 per month. Reasonable price, considering what you get, but free is better. If you have a Louisville Free Public Library card, you can get to Lynda.com through LFPL.org’s portal and take classes at no charge. Don’t have a card and can’t get one because the branches are closed due to the coronavirus? LFPL has you covered: It’s now letting you apply and receive a virtual card online. Follow the link from LFPL.org’s home page. The free online offerings at LFPL don’t stop with Lynda.com’s classes. Through LFPL you can also check out ebooks for your Kindle or other ereader. And check out audio books, comic books, music, and even movies. LFPL has 1,100+ business ebooks in its collection, via Overdrive, including classics like “Rich Dad Poor Dad” and more recent titles such as Ray Dalio’s “Principles,” which Chris Dischinger recommended last year at a Lunch & Learn. Just start browsing through LFPL.org’s portals and see what you find. The library is the best bargain in town! If you like ebooks, consider subscribing to Amazon’s Kindle Unlimited plan for $9.99/month, plus tax. With uncountable ebooks in every genre available to read, Kindle Unlimited is like the Netflix of ebooks. And like Netflix, though, you won’t find the first-run / blockbuster / bestseller titles there. You will turn up some traditionally published books – and tons of self-published titles, which can be amateurish. There are some gems in the mix, though. If you’re looking to get an overview of any aspect of real estate investing, you’ll find several books covering it in Kindle Unlimited. Know going in that many of the investing books in the collection are topic intros with a hard sell for the author’s coaching program.

Among the Kindle Unlimited books I’ve enjoyed are these two by Phil Pustejovsky: “How to Be a Real Estate Investor” and “Real Estate Investing Gone Bad.” (He’s also got a YouTube channel and is fun to watch.) Do you like audiobooks? Listening to books while you’re driving, cleaning, or walking the dog? Audible.com is a nobrainer. There’s not much free here – you purchase audio books a la carte – but there are monthly plans starting at $14.95, which includes one book of your choosing a month. There’s the member daily deal, which deeply discounts a selected title; sometimes it’s a business book. Right now, to help parents quarantined with their kids, Audible is making a collection of children’s books available to stream for free. Audible’s main draw is that it offers unabridged recordings of just about every traditionally published book available. And its friendly apps make it easy to listen on the go. There’s even support for Amazon’s Echo – good for listening while quarantined. (“Alexa, read Rich Dad Poor Dad.”) Audible’s catalog is deep for real estate investors. Looking for the books from BiggerPockets? They’re here. Looking for all the Rich Dad books? Almost all here. And you’ll find audio versions of Mike Butler’s “Landlording on Autopilot” and John Schaub’s “Building Wealth One House at a Time” among the titles. (Those guys rock! They teamed up to write the coronavirus article on Page 6. Have you read it yet? You should read it. I’ll wait.) Then there’s Masterclass.com. You’ve probably seen the ads on Facebook. Directors like Martin Scorsese and Ron Howard teaching filmmaking. Authors like Margaret Atwood and James Patterson teaching writing. Chefs like Gordon Ramsay and Alice Waters teaching cooking. With production values on these video classes obviously through the roof. So tempting, but the price tag of $180/year might have given you pause. However, as we go to press, Masterclass is advertising a limited-time, 2-for-1 option: two passes for all classes at $180/year. Masterclass isn’t all arts instruction – there is also business training. Bob Iger teaching leadership and business strategy, for example. The class that caught my eye was Chris Voss teaching “The Art of Negotiation.” Voss is the author of the book “Never Split the Difference,” a New York Times bestseller. Voss has been on my radar since hearing his BiggerPockets Podcast interview, and he’s been generating buzz among investors. You know, sometimes you just don’t want to be productive. For those times, I recommend chilling with Netflix, starting at $8.99/month. It’s like the Kindle Unlimited of movies and TV shows.

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UPCOMING EVENTS

We’re taking this month’s main meeting to the Internet: Join us online April 23rd Tired of conjecture and just want the facts? Our goal is to bring you factual information you can use to better navigate current investing challenges. We’re bringing local experts to April’s meeting to present stats and share their experience on: ➢ Real Estate Market ➢ Banking ➢ Rentals ➢ Wholesaling ➢ Rehabbing ➢ Airbnb & Short-Term Rentals This meeting, which is free for all KREIA members, will take place in a Zoom video teleconference. National REIA is kindly assisting us and allowing us to use their Zoom account, which supports up to 1,000 attendees.

Please watch your email and KREIA’s website for details on how to register for April 23rd’s meeting. Stay safe and well!

We look forward to seeing you at our next main meeting!