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CONTACT THE COMMITTEE On Wednesday November 6th there was a meeting of Kansas City Missouri’s Special Committee on Housing at 4 pm at City Hall. At this meeting two pieces of legislation were introduced that, if passed, could cause sweeping changes to the way housing providers in Kansas City Missouri do business. Here’s a link to the agenda: https://bit.ly/32qkDcJ While it is too late for you to attend the meeting, there is still time for you to educate yourself and share your thoughts with the committee members. Even if you do not live or invest in Kansas City Missouri, we invite you to read up on the issue at www.MAREI.org/Legslative as this is an issue that is spreading Nationwide. As there is news and updates here in Kansas City, MAREI will be updating this page. You We asked all Kansas City Missouri housing providers to reach out to the committee members to share your thoughts on the issues. Let them know who you are, how many units in KCMO you provide and what professional housing organizations you belong to. You can reach them via email at the following:
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mayorq@kcmo.org Mayor Quinton Lucas
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Brandon.Ellington@kcmo.org Brandon Ellington
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kevin.oneill@kcmo.org Kevin O’Neill
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ryana.parks-shaw@kcmo.org Ryana Parks-Shaw,
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amy.justis@kcmo.org legislative aid to Dan Fowler
As ou reach out to the committee members let them know
Who you are with your name and contact info. What professional organizations you belong to. If you are a voter in Kansas City Missouri. How many units you personally represent in Kansas City Missouri. Some thoughts to consider from the Kansas City Regional Housing Alliance that is leading the battle on behalf of the Housing Providers on these issues. ________________ Mayor Lucas has introduced two pieces of legislation,
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written by the “KC Tenants” organization, that will significantly and negatively impact affordable housing in the rental market in KCMO. They were introduced at the meeting on the 6th,. The legislation is as follows: 1. Resolution 190934– Establishing a Tenant Bill of Rights which would, among other things:
for over two years to battle these bad proposals at City Hall. Their positions, recommendations, and “Rights and Responsibilities of Tenants and Housing Providers” document can be found on their Facebook Page here: www.MAREI.org/KCRHA-FB. MAREI is a supporter of KCRHA.
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Make it illegal for landlords to ask about rental history or consider applicants previous evictions
If you care about affordable housing and the future of the rental housing market in Kansas City, please join your fellow Housing Providers by staying informed and taking action.
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Make it illegal for landlords to ask about criminal history of applicants
To read all this article and the back history, please visit www.MAREI.rog/Legislative
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Require landlords to accept Section 8 and other vouchers
The Letter MAREI Sent to the Committee on the 6th mirrors many of the thoughts and comments written here.
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Require landlords to disclose “past issues in rental units” to applicants
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Require landlords to disclose “all past utility costs” and provide “affordable heat and air conditioning that meets energy efficiency standards”
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Allow evictions only for “just cause” (The passage of just cause eviction laws eliminate a property owner or operator’s right to serve a nonrenewal notice on a resident at the end of the lease term. It would require an owner to “show cause” and obtain a court order to terminate a lease. More info here: https://www.naahq.org/advocacy/policyissues/eviction-just-cause)
2. Ordinance 190935– Establishing a new “Rental Housing Operating Unit”, a fourth bureaucracy at City Hall regulating rental properties (currently: Codes Dept, Health Dept w Healthy Homes, Human Relations Fair Housing Division) New bureaucracy is tasked with: advising tenants of their rights, investigate claims, provide case support, and enforce tenant rights. The Department would have the ability to revoke landlord permits in the event that rights are violated. The new department is estimated to cost $1Million taxpayer dollars. Both of these proposals make it much more difficult to operate as a landlord in Kansas City, Missouri, and will only harm the very people that “KC Tenants” claim to be helping. These proposals will significantly increase the cost to provide housing in Kansas City, and exacerbate the city’s housing affordability crisis, already at epidemic levels. The KC Regional Housing Alliance has been working
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A Plan for Success By William Tingle “I’m going to be successful! I will never give up!” Yet most new investors I meet can’t commit to learning a concept for more than a few days. Hey, I get it…I have ADHD moments, too but you have to be able to focus long enough to have a good understanding of how the concept works and when to apply it to your business. There are so many newbies out there who want to learn a business where they can realistically make 500k per year in 12 months but offer them a business in a box training program that walks them through a step by step plan where they can go out and get results THIS WEEK and they say, “That is too expensive.” But let someone else throw them another shiny object, tell them it’s “as easy as pushing a few buttons” and they’re gone! Like a squirrel after a nut…back and forth…back and forth…from one side of the road to the other…
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Before they know it, they’ve got a whole “collection” of shiny objects just taking up space on their hard drive and bookshelves back at the nest… A whole lotta “nifty ideas” A whole lotta “Ooooh! That seems like it could work” A whole lotta “free offer spreadsheets, free reports and YouTube videos” they’ve read or watched but never implemented so no REAL progress ever gets made. Back and forth…back and forth…when will it ever stop? This was me many years ago when I first got the idea of building a real estate business. Then everything changed for me when I learned about how sellers would give me houses and I could “be the bank.” A motivated seller with a like new home… a motivated buyer with a big downpayment. Still, it took me a while to decide that this was ALL I wanted to do and that I was pretty darn good at it.
Then I started training other investors on my method. How to make 500k+ per year or more all by just solving one person’s problem then solving another person’s problem. Wanna walk your own version of this path? Well, it all starts with getting educated. Then you have to take what you learned and actually DO something with it. It is called “Focusing on What You Have Learned and Taking Action” and it is where most new investors fail. If you do this, you can make an almost certain 10k in the next 30 days and probably more. Then you just do it again and again and again and scale this as big as you want but it takes focus. It takes giving up the addiction to shiny objects. It takes transforming from a squirrel into a rare breed of human…a highly respected entrepreneur and well paid real estate investing badass.
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Ready to launch your real estate business and start making money?
tire real estate empire based on just this one model?
Start with My Sub2 Business Plan
Really, people, it doesn’t get any simpler than this. You could almost, almost do this from that couch you are sitting on right now. You don’t even have to turn off the TV.
1. Create a mailing list. There are several paid services that can do this for you on the net. Just tell them your criteria for the list and BAM there is your list. If you are broke and have more time than money (or are just cheap and don’t understand that time IS money) you could just drive newer subdivisions in your area or use your tax assessors website to collect the addresses and accomplish the same thing. You are targeting newer homes with newer loans (3 or 4 years old) in the 300k price range. (Any price range will do. I am using 300k here for the 30k in 30 days scenario) You are looking for houses with only 10% or so in equity meaning in reality with the costs of selling traditionally, they have no equity. Your target is pretty houses with no work needed. Mail to them. 2. Make offers in the $270k range (10% off retail) structured with you making no down payment as in taking over payments subject to their existing financing. Get the deed and take over the payments. 3. Advertise these houses to find buyers that need help with financing then sell to them for 10% above retail with a minimum of 10% down. ($330k with $30k down). If you are paying attention, this will be when you pocket the $30,000. 4. Finance the balance for your buyer. Depending on the original interest rate and the rate you offer your buyer, you are looking at another $200 or more in monthly spending money. This is profit center number 2. Every month when your buyer pays you, you make another payment on the underlying loan. This is basically the equivalent of your buyer putting money in a savings account for YOU. WTF? Another profit center? YES! Profit center number 3. In a couple of years, when your buyer has their credit cleaned up and they refinance, collect the balance of your profit which should be another $30k or so. Profit center number 4. Do you realize that you can build an en-
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If you mail to 100 homes according to this criteria, what are the chances you will buy one? Based on my experience, pretty damn good. You can mail out 100 cards or letters for less than $60 (postage and supplies) tomorrow. Go pick up some cans, sell some plasma, SELL THE TV, do whatever it takes to get the money but do it! If you don’t have a mailing piece to use, email me and I will GIVE YOU ONE! What would 30k in cash mean to you and your family right now? How would it change your life? It is just a few cards or letters. You don’t have to talk to anyone until they call you and they won’t call you unless they want to sell! So what Does a Deal Look Like? This deal came from a drive-by photo sent in by one of my “boots on the ground people”. They have a list of areas I like and when they are out if they see a house with a for sale sign or one that looks vacant they snap a photo in an app we use and it comes straight to me. I take it from there and make contact with the owner. This one was a couple who just bought the house last year. The husband was deployed and while he was gone his wife stayed with her mother most of the time and by the time he returned she had met someone else and wanted a divorce. Neither one of them want the barely lived in house so guess who they were glad to give it to? That is right, whoever asked for it. It could have been you and the answer would have been the same…take it.
ance may be a few bucks below 117k but not much. We are still waiting for the loan balance numbers now. The comps in the area are from the loan balance to the upper 120s so this one will probably come in at 92 to 95% LTV. No equity, really but in like new condition with a 4.25% VA loan. I love VA loans. The payment on this one is $577 PI. It will sell for probably 135k with 10-12k down and owner finance it at 9%. So if I sell for 135k and get 10k down, I will finance 125k for 40 years at 9% and get a PI payment of $964. Going 40 years lets my buyers have a slightly lower payment and lets me work on having a bigger backend payout on a low equity deal. Let’s see how the numbers work out assuming my buyers stay with me 3 years before getting a new loan after working on their credit with an assigned credit repair person during that time. My payout will be 0. The payments are current and the house needs absolutely nothing. My profit will be: 10k Down $387 a month for 36 months = $13,932 $13,190 backend (the difference between what I owe on the underlying loan and what my buyers owe me when they pay me off) Total Profit on an almost NO equity deal = $37,122 Now we are still in the due diligence process with this one but I am pretty sure everything will work out fine. Most all of them do. There are literally thousands of these out there just waiting for you to take over the payments on them. Do the math. How many do you need to never have to go back to a JOB? I am guessing not too many.
This deal had a little, “right place, right time” luck involved.
Would you like to learn how to do deals anywhere in the US?
It is a little on the lower end of where I usually like to buy but the location is great, a newer, nice little neighborhood and the terms make it a real money machine.
Would you like to learn how to buy houses subject to and save the day for your seller at the same time?
The loan on this 3/2/2 originated in August of 2018 for $117,250 and the bal-
Join me in November at MAREI for the meeting and my workshop on the 16th. William Tingle
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Your Creative Investing Strategy Session with William Tingle. Sub2Deals.com are real estate transactions that require little cash or credit and are known as buying “subject to” existing financing. Whether you are just starting out on the path of Real Estate investing or you are a seasoned investor, you will learn new ways to acquire property.
WHY REAL ESTATE •
CASH FLOW l Cash You Can Spend NOW
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APPRECIATION l Real Estate Always Increases in Value Over Time
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TAX BENEFITS l Depreciation, Interest Other Tax Incentives
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LEVERAGE l Real Estate Allows You to Use Other People’s Money for Maximum ROI
SUB2 REAL ESTATE INVESTOR
WILLIAM TINGLE
Your instructor for your Sub2deals—Creative Real Estate Financing Workshop
Saturday, November 16th The Holiday Inn & Suites 8787 Reeder Road, Overland Park, KS 66214 9 am to 4pm l Lunch Included Be sure to register at www.MAREI.org. Early bird pricing through November 12th, just $49 for MAREI Members plus $20 for family or business partner.
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WORKSHOP HIGHLIGHTS •
What Is Subject To & Why It’s Legal
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How to Market for the Best Deals
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Why, Not to Worry about “Due on Sale Clauses”
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How to Create Immediate Cash Flow With NO Landlord Headaches.
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How to Invest Sub2 Virtually
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How to Retire Rich In just one day, William Tingle can show you a completely new way to acquire property and build wealth.
Starting with the ever famous Carleton Sheets Training Course, William soon left his job at the time. To date he has taken the deed to over 500 properties, and despite “retiring’ to Belize over 10 years ago, he still acquires 20 –25 properties a year.
REGISTER WWW.MAREI.ORG
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With MAREI Business Members Save time and money by starting with service providers who already know your business. Who can solve problems as they arise to help you get the deal completed on time and for maximum profit. Accountant Coleman Accounting Service Bob Coleman www.ColemanAcctg.com 913-787-0308
Attorney Anderson & Associates Julie Anderson www.MOKSLaw.com 816-931-2207 Attorney Rick Davis Levy Craig www.LevyCraig.com/Rick-Davis 816-460-1819
Auction Company Auction.com Rachel Bailey www.Auction.com 816-797-6875 Monthly Auction 101 Workshop
Building Supplier Coronet Window Company Brent Huckabey www.CornonetWindow.com 816-472-1788
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DeMayo Enterprises Wholesale Cabinets Mark Yanda www.DeMayoEnterprises.net 913-980-4260
Hearth Masters Fireplace / Masonry Gene Padgitt www.ChimKC.com 816-461-3665
Earthwise of KC James White www.EarthwiseKC.com 816-231-7011
NuLook Custom Finishes Cabinet Refinishing Carol Baldwin www.NuLookFinishes.net 913-385-2574
Joe’s Carpet / Weber Flooring Joe Weber www.WeberFlooring.com 913-469-5430 Rugs, Rolls and Remnants Jerry Ratway www.RugsRollsRemants.com 913-593-0568
Contractor
Olson Foundation Repair Luke Olson & Peggy Stroud www.OlsonFoundationRepair.com 913-592-3300 Under Pressure Property Services Rehab, Maintenance, & Staging Dallas Kidd www.MyUnderPressure.com 913-274-9555
Above & Beyond Building Services James Carollo www.AandBKC.com 816-674-6132
Financial Planning
Genesis Home Restorations Mold Remediation Terry Amerine GenesisHomeRestorations.com 913-270-0812
Forms
TR Bass Financial Terry Bass 816-251-4524
EZ Landlord Forms www.MAREI.org/Forms (Continued on page 14)
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Home Warranty Choice Home Warranty Jayme Dickey 816-550-5144
Insurance Agema Insurance Fred Dickinson www.AgemaIns.com 913-543-8116 Arcana Insurance Insurance for Investors NREIA.ArcanaInsurance HUB.com 877.744.3660 Brian Rauber Insurance Agency Farmers Insurance LoveIsOurPolicy.com
(816) 436-1016
Self Directed IRA Equity Trust Company TrustETC.com/NationalREIA FREE Training 844-732-9404
Lending Crossroads Investment Lending Hard Money Bekah, Brant, & Britton www.KCLend.com 913-800-8226 House Traders Monthly Meeting Flat Branch Home Loans Mortgage Banker Beth Langston FlatBranchHomeLoans.com 816-479-5841 x 1148
Gateway Mortgage Group, a division of Gateway First Bank Mike Leech GatewayLoan.com/Mike-Leech 913-802-5015 Investors Choice Funding Hard Money Bob Woelfel InvestorsChoiceFunding.com 317-205-4797 Leader One Financial Kevin Roller KevinRoller.MyMortgge.Site/ 913-677-2781
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Lima One Capital Tracey Vinzant LimaOneCapital.com 913-671-0040 Merchants Mortgage Mushy Money Susan Aubin www.MerchantsMtg.com 303-514-0815 North Oak Investments Hard Money Tommy Nigro www.NorthOakInvestment.com 816-249-1001 REI Investor Funding Charlie Fitzgerald www.REIInvestorFunds.com 913-843-8650 Worcester Financial Hard Money www.WorcesterFinancial.com 816-291-4146
Marketing 3 Leads Per Day Online Marketing Training from Investor Carrot www.MAREI.org/3Leads
InvestorCarrot Websites for Agents & Investors Online Marketing www.MAREI.org/InvestorCarrot
PropStream Build Marketing Lists & Research properties www.MAREI.org/PropStream
REIPro Investor Marketing Platform Lists : Direct Mail : CRM www.MyREIPro.com/NREIA Discount Code 66209PRO
Odor Removal OdorXIt www.MAREI.org/OdorXit
Office Supply Office Depot / Office Max www.OfficeDepot.com Discount Link & Card in Member Benefits Package
Pest Control BedBugTraps.com Stop Bed Bugs Discounts for Members
Private Lending Free Online Training Alan Cowgill www.MAREI.org/PL
Properties KCInvest Investment Properties Scott & Kim & Don Tucker www.KCInvest.com 913-735-0018
Pride Properties Wholesale Marcus Bray & Matt Bray www.PridePropertiesHomes.com 913-213-5370
Deal Makers Monthly Meeting Property Investors Inc. Todd Franzen & Chris Hellums www.MyPropertyInvestors.com 1-800-614-7705
Property Manager Home Rental Services Paul Branton www.Home4Rent.com 913-627-9543
M & M Property Pros Michael & Michele Belman www.MMPropertyPros.com 816-490-6745
MRE Property Management Turn Key & Management Nick McKinnis www.MREKC.com 816-388-9588
PMI Destination Properties Ryan Kernicky www.PMIDestination.com 913-583-1515
SG Property Management Randi Fiedler www.SGPM.us 913-717-8531
Realtor
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Crown Realty Rich Melton RichMelton.CrownRealty.com 913-215-9004
Get Connected:
Screening
www.MAREI.org
Rent Perfect
Visit our website for events, recent newsletters, member properties and our business directory.
Tenant Screening Plus Heather Johnson www.RentPerfect.com 877-922-2547 Discounts www.MAREI.org/RP Software FlipperForce.com Rehab Analysis & Management David Robertson (816) 559-1782
www.MAREIMember.com Visit our Member’s Only site to join, register for events, access benefits and discounts and to post properties. www.Facebook.com/groups/KCREI Join the online discussion. Post a property, ask a question, share knowledge and expertise. 7000+
Title Company Accurate Title Company Dave Green www.AccurateTitleCo.com 913-338-0100
Trash Out 1-800-Got- Junk Trash Pick Up www.1800GotJunk.com Discounts in Member Benefits
Get Listed For as little as $135 a Quarter or $499 annually, join MAREI as a business member. Details at MAREI.org.
Registration Code 66209PRO
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