The Investment News: May 2011

MID-AMERICA ASSOCIATION OF REAL ESTATE INVESTORS

Investment News
NETWORKING : EDUCATION : COMMUNITY May 5, 2011

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m ar ei
BUSINESS MEMBERS
ADDRESSING THE NEEDS OF
THE REAL ESTATE INVESTOR
Type Company Web Phone Contact

Attorney Wise / Anderson BobWiseLaw.com 816-942-5925 Bob Wise
Contractor Te-Tee Light MAREI Vendor 816-356-1870 George Bai
Lender Argentine Federal Savings ArgentineFed.com 913-402-1500 Ann Wilkinson
Realtor Realty Resource KCInvest.com 816-523-4400 Kim Tucker
Supplier Home Depot Home Depot 816-510-9199 Roger Holyfield
Supplier Canyon Stone Canyon-Stone.com 913-254-9301 Matt Puckett
Title Accurate Title Company AccurateTitleco.com 913-338-0100 Jackie White
Wholesale kcmoHomeBuyer kcmoHomebuyer.com 816-200-2198 Don Tucker

Real Estate Investors and Landlords depend on a well
rounded team of professionals. If you are building your
team or looking to make a trade, start your recruiting with
our Vendor Members and Business Associates. See a
complete list of suppliers and any discounts they may of-
fer to MAREI members by visiting, www.MAREInet.com.
Look in under the Toolbox tab under “Service Directory”.

http://mareinet.com/marei-tool-box/business-associates

Page 2 MAREInet.com

Contents
MAREI News
In This Issue
MAREI Business Members 2
MAREI Staff 5
Notes from Director 6
Purchase and Hold Real Estate 8
Get More Offers Accepted 12
Five Excuses 14
Boom or Bust 16
Realtor Nationwide Open House 18
Training Events 20
Government Affairs 22
Calendar 23
Market Trends 24
Repositioning for Big Profits 26
Squeeze Your Membership 28

Features ‫ ׀‬May 2011
There are 15 good reasons The key to making money
to buy and hold investment is making offers, right.
property according JJ Paw- While that’s certainly part
of it, getting offers ac-
lowski, Investor, Broker,
8 Lender and our guest 12 cepted is what causes the
cash to flow. Transaction
speaker in May. engineer Auggie Byllott
shares some secrets.

Investment News Page 3

MAREI
Notes
Contact Information
PO Box 8685, Prairie Village KS, 66208

Phone: 913-815-0111 Fax: 816-523-4448

Our Mission Statement
Mid-America Association of Real Estate Investors is dedicated to promoting ethical real estate in-
vesting and to protect and promote the best interest of our membership through educational and
networking opportunities as well as community, legislative and public relations.

Legal Disclaimer
MAREI does not exist to render and does not give legal, tax, economic or investment advice and
disclaims all liability for the action or inaction taken or not as a result of communications from or to
its members, officers, directors, employees and contractors. Each individual should consult his/her
own counsel, accountant and other advisors as to legal, tax, economic, investment and related
matters concerning real estate and other investments.

Content Disclaimer
The views and opinions expressed by authors of articles contributed to this newsletter do not neces-
sarily reflect those of the association, the board of directors or the staff.

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MAREI
Staff

Kim Tucker 816-523-4400 Don Tucker 816-523-4400 Steve Burns
Director President Audio Visual
Kim@MAREInet.com Don@MAREInet.com cashflowtreasures@gmail.com

John Welchert Larry Prato Spencer Cullor
Meeting Ambassador Commercial Subgroup Commercial Subgroup
816-268-3849 913-227-4693 913-324-5900

Dan Goodwin 913-642-5218 Shelda Goodwin
Meeting Ambassador Meeting Ambassador
DanGoodwin@kw.com SheldaGoodwin@kw.com


Director’s Notes
As we look forward to the rest of 2011 and starting 2012 But what does that do for you as an Investor and our
we keep referring back to the brochure on the Profes- Industry as a whole? It brings you and your business
sional Housing Provider Program. This is program we into a professional light with the general public. We
have started as a part of our membership with National will be though of as people who improve the commu-
REIA. We are working to put together meetings and nity, help people obtain the dream of home owner-
training events designed to help our Members who par- ship , or provide quality rental housing for those who
ticipate in this program complete the 60 hours of training cannot own. In many cases we find that we are still
including 42 hours of core courses. thought of as grimy, miserly, money grubbing land-
lords who kick granny out in the cold after we steal her
As this is a fairly new program at MAREI and as we
house away from her with lies and trickery.
have had so many brand new members come on board
in the past few months, I think it is important to review This industry designation will give you the ability to
what the Professional Housing Provider Program or show the general public otherwise. You can say, see I
PHP Program is and how it can benefit our Industry. am a PHP which means I have a code of ethics that I
follow and have taken extensive hours to training to
As professionals who take the time to
obtain my designation and I continually study to im-
adhere to a code of ethics, to learn
prove myself with continuing education.
best practices, and be better at pro-
viding housing for sale or rent or even So remember when you attend an event and see that
storage units, mobile homes, or office we are handing out certificates of attendance at the
space for lease, we have never really back of the room, that they are for the PHP program.
had a way to show the general public To participate in the program and obtain credit, you
that we have take the time and made must be a member of MAREI, you must preregister
the effort to be better professionals. and attend the live class in it’s entirety. And then at
the end of the event, collect your certificate, and re-
Now, with the Professional Housing
cord the class in your program folder. Once you ob-
Provider program, member profes-
tain your 60 hours of training including the 42 hours of
sionals across the country have been
key core courses, then you will receive special recog-
completing the training and adding these three little let-
nition at the MAREI meeting as well as at the National
ters after their name . . . . PHP . . . Or adding that I am a
REIA Mid-Year Event.
Professional Housing Provider.
To find out more about the program, pick up a bro-
In the not to recent past, real estate agents banded to-
chure at the meeting or see the Education Tab on our
gether to do the same thing. They started a National
website.
Association of Realtors, handed down specific code of
ethics you needed to follow to be able to call yourself a Kim Tucker
Realtor and had further training so you earn specific
Director of MAREI
designations such as ABR, ABRM, or CCIM for exam-
ple. The PHP program is the same for real estate inves- For more info, go online to:
tors and maybe one day we will have the Investor name
http://mareinet.com/education/php/
with a capital “I” trademarked and only special real es-
tate investors will be able to call them selves Investors.

Photos from the Lead Safe Work Practices
Workshop on April 9th. Students pose in the
latest look: White Jump Suits and Blue La-
tex Gloves.

Purchase and
HOLD Real Estate
Through personal real estate investing experience for cure job was actually a myth. A myth you may ask?
the past 8 years, as well as professional experience as Absolutely in my opinion! I believe it is a myth to
an investor's agent representing real estate investors, think your job, or the jobs of your loved ones, are
I've discovered at least 15 good reasons to buy and ever 100% secure and safe from the realisms of the
hold an investment property. corporate, credit, financial, professional, and busi-
ness worlds. Life often proves it is rare to find any-
Reason #1 - Necessity
thing guaranteed, besides taxes and death.
Rental property is a necessity in every community,
So how does the average American ever really get
every city, and every state, everyplace. There will al-
ahead of the game of life? Are you ever able to say
ways be people who, for one reason or another, won’t
to yourself, ―My financial future really is safe and se-
purchase a home and will rent instead. From poor
cure!‖ Yes, you can. I believe based upon my experi-
credit, to affordability, to simplicity, to income limita-
ence, real estate investing can afford you the oppor-
tions, to not wanting to own anything, the reasons peo-
tunity to move beyond the rut of the 40 hour work
ple have for wanting to rent go on and on.
week. Maybe not tomorrow, or next month, or next
Reason #2 - Security year, but in the future, when it really matters, should
The importance of providing for yourself and your fam- you chose this path, allow yourself the time to pursue
ily by having a safe and secure job was demonstrated it, and then work for it. Do something today and
to me from a very young age. This safe and secure job make it happen!
provides a steady income with benefits, a retirement Reason #3 – Passive Income
plan, and so forth. Watching as my parents worked,
You have a safe and secure job where you work 5
and my own experience from my work history, I also
days, 40 hours a week. This is called active income.
realized the idea of having this so called safe and se-

Monthly Meeting 1
PHP
CREDITS
Don’t miss this event!
Attend the May MAREI Monthly Meeting and join JJ
Pawlowski local Real Estate Investor and Broker as he
shares solutions to some of the more common prob-
lems facing real estate investors today.
Location: Sylvester Powell Jr Community Center: 6200 Mart-
way in Mission Kansas
JJ Pawlowski Date: Tuesday April 9th: Doors open at 6:00
Broker / Agent
Cost: Members FREE, Guests $25 at the Door or Pre-Register
Chartwell Realty
for $15. See more & Register online.
Equity Development Corp
UncommonRealEstate.com PHP: 1 Credit Management PHP, members only, must be pre
816-916-4593 -registered through the website to receive credit.

Page 8 MAREInet.com

You must show up and work if you involved but the way the planning
want to get paid. system is taught and just accepted speaker
by most.
Passive income is money that
comes to you time and time again Reason #5 - Cash flow agenda
without you showing up for it. Yes,
If you think back to the passive in- The May 10th Monthly MAREI
you will have had to do something at
come example I talked about, you’ll meeting will host JJ Pawlowski,
some point to create passive in-
remember the example of owning a local Kansas City area real es-
come. Maybe you had to take 20
rental property for the monthly pas- tate Broker and Investor with
hours to learn about real estate in-
sive cash flow. Would you be able years of professional experi-
vesting. Perhaps you had to put in
to use this monthly passive cash
another couple hours to paint the ence. He is join us to solve a
flow when you are retired and sup-
house. All in all you might have more
posed to be enjoying your life? few problems facing local inves-
than 50 hours in this home during tors today:
your ownership years. Who cares? Reason #6 - Time
The bottom line is you are not going  Tenants Trashing Rentals
Why does it matter you take the time
to work at it every day for 10, 20, 30,  Negative Cash Flow
now and plan for your future finan-
or even more years! This is the dif- cial security and success? Because  Listing on MLS
ference between active income and of continuous improvements in  Determining Scope of Work
passive income. Passive income health care and quality of life, the  Dealing with Contractors
shows up for you without you show- average life span for a normal adult  Notice of Intent to Sell
ing up for it! continues to increase. If the life span  Lack of Lenders
Reason #4 - Retirement in 2006 is expected to be in the 70s  Lack of 10% Down Payment
Retirement, in my opinion, is not
and 80s for males and for females,  Investing with Emotion
what will it increase to in 20, 30, 40,  What is Exit Strategy
about depending on Social Security
or even 50 years from now?  Where Do I Start
or your family for your financial sur-
vival. Did you know as of 2006, ap- Reason #7 - Leverage  Too Much Information
proximately 90-95% of people at re- What is leverage? Leverage is the  Where’s the Magic Bean
tirement age were still dependent! ability to do more with less. Real es-
This is an easy statistic you can find If you have had questions on
tate is one of the best forms of lever- any of these items join us as JJ
in about 1 minute of searching the age an average person can utilize to
internet. Most retirees are depend- provides the answers. If you
get off the sidelines as a spectator
ent on family members, children, and start playing in the game of life. have other questions, bring
their job, or the government for their How does this work? those along too!.
financial support and survival. This is
a very unfortunate fact. Work all your Take for example someone walking
life only to be dependent in the end? into a bank and asking for a loan.
Retirement should not be about wor-
Let’s say the person wants to buy All attendees will find
$100,000 worth of stamps. How
rying every day about your 401k or much money will the bank tell the out how to get a FREE
other savings running out and
thereby being forced to penny pinch
person they will need in order to do ebook: “The 10 Real Es-
this? The answer is probably
every day. Take a look at how the $100,000! Now, using the same ex- tate Investing Hard Les-
financial advisors will tell you to plan. ample let’s say the same person
They want you to budget, save, plan, wants to buy a house for $100,000.
sons Gurus and Agents
and not overspend so you have
enough money to outlast your life.
How much money will the person Will Never Tell You Up-
need to do this? The answer de-
Die before you run out of money? Is pends on the credit situation of the front and How You Can
this serious? You bet it is. Don’t get
me wrong, I have nothing against
individual, but most of the time the Save Time, Headaches
money down will be between 3.5% -
financial advisors, and great ones 20%, or $3,500 - $20,000. This is a and Money and Avoid
are worth their weight in gold be-
cause their guidance and knowledge
lot less than the $100,000 the house Making the Very Same
is worth and the person owns the
can truly make you a lot of money house! How is this so? This is so Mistakes.
over time. My point is not the people (Continued on page 10)

Page 9
Investment News

because this is leverage. side with someone who has done Are you one of the many people
exactly what you desire to accom- (parents) who look at the average
Reason #8 – Helping Other People
plish. cost of a four year college and it
You can help other people by invest- makes you cringe and tremble? I just
Reason #11 - Equity
ing in real estate? Yes, you can. looked today online and found sev-
There are several ways this works. What is equity? In the case of real eral sites reporting the average cost
One, you are providing safe and se- estate, equity is the difference in the of a private college around $30,000
cure housing to someone who needs value of the home and the amount per year. The average cost of a pub-
safe and secure housing. Secondly, owed against the house. lic college seems to be about
by helping yourself become finan- $12,000 per year. I believe these
Equity grows and grows when it is
cially free, you will in turn be able to numbers include tuition, room, and
untouched over long periods of time.
donate money on a regular basis to board. How can the average person
Someone else, your tenant, is help-
all the wonderful and worthwhile save enough money to pay for this?
ing you pay down your mortgage
charities in the world. Third, you are
and this is how you become wealthy So, as an example, look at buying a
helping your community when you
by investing long term in real estate. $100,000 piece of real estate when
purchase or help others purchase
Don’t forget the fact that when you your child is 5 years old. How much
investment property. Finally, be-
bought the house, you probably only is this real estate worth when he or
cause you will be successful and
put down 10 or 20%, so for the she is 18 years old? Taking into ac-
financially free, you will be a health-
$25,000 or $50,000 you would have count a measly appreciation of only
ier, wealthier, and a wiser person
spend when looking at the example 2% per year, the value of the house
who will be able to better provide
above, you would now have 7-14X in 13 years is $129,360.66. A better
mentally, physically, financially, and
or more this amount in equity! How 4% appreciation would yield a value
emotionally to your family, friends,
about that for a great return on in- of $166,507.35! Bingo!
co-workers, and everyone you come
vestment?
across in your life! At this time, you can either sell the
Reason #12 – Permanence house (a taxable event) or refinance
Reason #9 – Tax Advantages
Life is hectic. Luckily, real estate the house (a non-taxable event) and
I am not an accountant and I cer- take out some equity to pay for
stays put in one place. With few ex-
tainly recommend you check with school. By renting the house for 13
ceptions and Mother Nature, real
your own tax preparer on the various years, you have probably been able
estate doesn’t go anywhere. Your
tax advantages you might see from to pay the initial $100,000 mortgage
property will be there tomorrow, next
your own real estate investing. down by tens of thousands of dol-
week, and next year, 10 years from
Some of the benefits I've been able lars, therefore even increasing the
now and so forth. I once experi-
to utilize are appreciation, deprecia- amount of money you have at your
enced the power of Mother Nature
tion, legally deductible expenses, disposal.
when she took one of my houses
and carry forward losses. Do I un-
completely away in a tornado. Don’t Reason #15 - Fix what's broken
derstand what all of these are? No
mess with mother!
way! I appreciate my accountant. I just saw headlines that indicated
Reason #13 – Business Owner- about 13% of homes in the US are
Reason #10 - Education
ship vacant. Many of these are foreclo-
You don’t have to have a formal sures just sitting there for years. Be-
It is said by many one of the easiest
education to become a real estate coming a real estate investor or
ways to become financially free in
investor. You don’t need a college helping real estate investors buy va-
this wonderful country is to own your
degree, you don’t need hours and cant homes will help fix our current
own business. Real estate investing
hours of studying and taking tests, real estate situation.
is a business and you should treat it
and you don’t need to be an ac-
as such. Real estate gives the prop- I admit many of the above reasons
countant, Realtor, or any other type
erty owner many great tax advan- and benefits of owning investment
of trained or licensed professional.
tages. Real estate investing gives property I've discussed could each
You don’t need to do any of the
the property owner the same tax ad- be a blog post in and of themselves.
above in order to become a suc-
vantages plus the tax advantages of Some might be too simplistic in my
cessful real estate investor. I know
business ownership. You get to de- examples and explanations. Hope-
this to be fact based upon my real
duct all your expenses associated fully though you've gotten some new
personal experience. Although I am
with your business. ideas you can pass along to your
a licensee now, I personally did real
Reason #14 – Pay for Your Child’s clients or use in your own real estate
estate investing for years before get-
investing models.
ting a real estate license. One of the Education
best ways to learn is to work side by

Page 10 MAREInet.com

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Get More Offers
Accepted
The key to making money is making offers, 5. Make multiple offers, one all cash, one
right? While that’s certainly part of it, getting some cash now and some cash later, and no
offers accepted is what causes the cash to cash now and more later. Give your seller a
flow! And flow it will if you follow a few simple choice and let them know you want them to
steps. accept the offer that best meets their needs.
1. Whenever possible deal directly with a 6. Be prepared to help the seller understand
property owner. Dealing with principals will your offers. You can remind them that you are
make for better and more effective negotia- running a business and that if you cannot
tions and provide a basis for creating a syn- make a profit you cannot stay n business
ergistic solution. This will result in the other (though that’s not their problem).
party having greater buy-in and increasing 7. Let them know that you can close quickly
the probability they will see the transaction (or on a schedule that meets their needs) and
through to the end. you are willing to buy their house ―as-is‖ and
2. Be sure to learn their motivation…‖Why they won’t have to do any repairs.
are they selling?‖ your offer(s) must solve
8. Your lowest offer will be your all cash offer
this issue. To often investors fail to under- because with banks not lending, cash is ex-
stand what the other party’s problem is and pensive to come by and therefore a greater
attempt to solve something the other party discount is required.
may not even consider an issue. People like
to do business with someone they trust. In 9. Upon presenting your offer(s) sit quietly for
order to do this you need to build rapport and a moment or two and allow them to process
focus on their problem. the information. If they ask questions, provide
answers. If they don’t ask questions, you can
3. Whether you’re working with a real estate ask them which offer do they find most ap-
agent or direct with a home seller you need pealing? It will give you an insight into which
to be the one making the offer(s) and be pre- type of offer might work.
sent. This provides you an opportunity to ex-
plain, clarify or modify your offer 10. Ask them what they plan to do if you don’t
buy their house? If you don’t close on the
4. Never present a single offer. If you’re a spot, you can always remind them that they
one-trick pony; you know what I mean 70% might want to consider you Plan B because
minus repairs (the MAO formula) or 65% mi- everyone’s situation will change with time and
nus repairs (the wholesale MAO formula) circumstance.
you’ll have a tough time closing deals where
the debt on the property exceeds your offer. Now you have bought the property, let’s Get
This is not a one-size fits all business. Learn more Cash Flow . . . .NOW!
how to become a transaction engineer. (Continued on page 13)


One of the greatest opportuni- ing cash with your equity part- without much experience, I
ties we may ever see is staring ner based on whatever percent- might be willing to give 80% of
us in the face. Mortgage rates ages you agreed to (in writing). the deal the equity partner be-
have now been at historic lows cause I’m trying to get started
You and your equity partner will
for a while, the stock market and don’t have cash of my own.
divide the benefits from the
has proven an unreliable wealth Even if you give up 80% of your
property on whatever basis you
building vehicle for the average first five deals you’d effectively
establish. 50/50, 60/40, 70/30.
person. This has set the stage own the equivalent of one com-
You’ll split the cash flow, the
for building private lending rela- plete free and clear house!
appreciation, the depreciation
tionships that can finance your That’s powerful. As you develop
and the tax benefits. It’s all up
real estate deals. But wait…this your skills you’ll be able to com-
to you and whatever you nego-
is an article about cash flow. mand higher percentages be-
tiate. If you get really good at
cause you’ll be a credible part-
Fortunately I don’t have to start this you can even give up your
ner!
over because many of these 10% management fee and out-
private lending candidates are source property management ________________
also candidates for equity par- and focus your time on finding
ticipation deals. Imagine, if you more deals and more equity Do you want to learn how to do
will, you find a great deal you partners. The beauty of this a deal like this? If you’re like
can purchase for cash at a 50% strategy is that when you have most investors today, you’re
– 60% loan to value. You give a vacancy you don’t have an facing no money, no credit, and
your investor/equity partner outgoing mortgage payment. no idea where to start. That’s
60% of the deal in exchange for where the right instruction can
This is just one of the many
them coming up with the cash come in. Take the time to visit
strategies I like to use to lower
to buy the property. the link below to join in my 7
risk and increase returns. While
They come into the deal with I realize I’m giving up some of module course from National
immediate equity and you have the upside, I’m trading it for a REIA’s Online University. This
no debt! If there is no debt there perfect risk reduction strategy. course offers 3 Financing Cred-
are no mortgage payments. Besides, using this strategy I its for the Professional Housing
You simply collect rent and pay effectively own half a house Provider Program.
the taxes, insurance and main- free and clear because the eq- August Byllott
tenance (unless you have your uity partner and I might be www.PACTProsperity.com
tenant take care of it). The re- 50/50 in the deal. Let’s

mareiU.
maining cash flow is split be- say I was a newbie

com
tween you and the equity part-
ner. Since you have used your
skills and secured the deal
you’ve already made a valuable Auggie
contribution to the deal so you Byllott, Transaction Engineer
might also be able to get com-
pensated for managing the Featured national trainer on the new
property. You might take 8-10% online training university from National
off the top for management and REIA. Visit to preview his course
then after paying the remaining Creative Financing, made up of 7
expenses you split the remain- thirty minute modules. Total cost is
$39.00.

Five Excuses
Real Estate Investors Make
I Don’t Know What to Do! This is the I Can’t Find any Deals! Not sitting
1 first excuse holding new investors back 4 here wining you can’t. No matter what
from taking action. It is a valid excuse type of deal is your focus, you can look in
that is easily remedied. There is a wealth the local papers, online classifieds, for sale
of information out there for FREE or almost by owner sites. Have a particular niche?
free. Start with online articles and webinars Create a list of potential motivated sellers
then move up to REIA training. This is a and market to them through direct mail,
great way to introduce yourself to all the online classifieds, and social media. The
ways you can participate in real estate more people you call or network with, the
investing. Once you find your more postcards you send out, the
niche, buy the course and fol- more deals you will have to evalu-
low the step by step instruc- ate. The more you evaluate,
tions. the sooner you find a deal.
I Need _______ (Insert I Don’t Have Time!
2 Item Here) First! This 5 Time is very valuable,
one is just a way of put- but remember Rome
ting off taking action. New was not built in a day or by
Investors spend hours, days, one person, and your Real Es-
weeks finding a phone num- tate Empire will not be either.
ber, designing logos, creating You can choose to make time and
websites, and buying business hire assistance or technology to take
cards. Yes, all items that you really need, some of the time consuming tasks from
but you can get everything you need for un- your shoulders.
der $100. So what if it isn’t perfect, you can Sometimes we say ―I Don’t Have Time?‖
always change it next month as you refine but what we really mean is ―There is too
your investing business. much to do and I Don’t know where to start.‖
I Don’t Have any Funding! Yes this is
3 an excuse. Go out there and become
This is where having training and support
from the local REIA group can assist you.
involved in your local real estate investor From the training you can outline all the
association or join one online if there is not steps and start tackling them one at a time
one in your area. Then go call on signs, and where ever possible put technology in
send out marketing for deals, go look at place to do the task for you. You will find
properties. When you find a deal that is resources for technology and key team play-
truly a deal, partner with someone at the ers to help you with the tasks at the local
group. Honestly, the money will come REIA groups.
when you find a true deal.


Advanced Investors
Focus Group
Happy Hour in Waldo
Wednesday
March 20th
5:00 to 6:30
Topic
FREETrialWebsite.info
Monetizing Dead Leads

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Why did they “DO IT?”
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bership package!


or Bust
Is the Sky Falling or is
Kansas City Real Estate about to Boom?
Local Realtor Eric Deeter shares in his blog . . “If you live in the Kansas City metro you still
. At www.EricDeeter.com have a good opportunity to get a bargain on a
good home. However, getting a home you
“The Kansas City Business Journal reports that
love at a good price is not as easy as the me-
Kansas City metro real estate sales are down
dia will lead you to believe. Houses in good
13% compared to this time last year. And
repair and well-staged are selling well.”
prices of existing homes declined an average
of 5%. And there is no shortage of pundits on Take a look at the average suburban, owner
TV telling how we’re still going to see a mass of occupied neighborhood and you will find in-
foreclosures. vestors competing with home buyers to get a
good deal on the bank owned homes, the av-
But when you look back at last year you have
erage homes that could use a bit of spruce up
to keep in mind that we had an artificial stimu-
sitting on the market for days on end, and the
lus to the market: the “first time buyer tax
all updated houses if about the same if not a
credit”. This was the government’s attempt to
bit higher than the average houses are moving
goose the market. It worked, & most of the
in 30 to 60 days.
sales for the year happened in the first quar-
ter.” So if you are buying homes to resell be sure to
do your homework. Know what the other
We have to keep in mind when we are looking
houses in the area look like the ones that have
at comparable sales for the past year that we
been on the market for ever and the ones sell-
had an artificially high volume of sales through
ing in a month. Renovate accordingly. Also
April 30th, 2010. Sales that seem to virtually
be sure you know the ins and outs of FHA fi-
stop on April 30th, picked up slightly as we
nancing and the special buyer incentive pro-
went into October and then dropped off during
grams that are currently available. Do you
the cold of the holidays and winter.
homework, know the numbers, and don’t get
Eric goes on to point out that . . . greedy and you will be on your way to Rehab
―This year may play out to be slower than last Profits.
year, but there are a lot of reasons to be opti-
mistic about the future. Fortune magazine has Eric Deeter
an article this month featuring data from a com- Realtor / Investor
pany named Metrostudy. They conduct real Realty Resource
estate research in 19 states, covering about 115 E Gregory Blvd
65% of the US market. Metrostudy is forecast- Kansas City, MO 64114
ing a housing shortage looming in the near fu- 816-523-4400 office

ture. In a recent blog post they predict that the 913-579-3354 direct
market is at the bottom and will begin working Eric@EricDeeter.com
its way back up from here on out.” www.EricDeeter.com


MORTGAGE MINUTE
accurate
Power Saver Program: HUD se-
lects lenders to participate in new Accurate Closings:
pilot program to help homeowners
Smooth, Timely, Professional.
pay for energy improvements to
their homes. FHA PowerSaver Title Services Provided for:
program to offer low-cost financing
 FSBO, Wholesale, & REO Transactions
to credit-worthy borrowers.
 New Construction Closings
Expiring Commercial Loans:  Commercial Purchases and Refinance
The US SBA is offering their  All Types of Loan Closings
CDC/504 Program to help refi-  1031 Exchanges
nance Commercial Loans that
need to be refinanced in the next 2
MAREI  FHA, VA, USDA, Conventional Loans,
years and have been unable to Internships and Hard Money Loan Closings
 Refinance & Reverse Mortgages
find a refinancing sources.
Managing  Doc Prep, Prelim HUDS, Curing Issues
Private Debt Market for Multi-  Short Sale Closing & Assistance
family: Depending on how the Websites  100 Years of Combined Service!
reform of Government Sponsored
Enterprise like Fannie & Freddie Booking
www.AccurateTitleCo.com
plays out, we could see a return to Events 913-338-0100 phone
private sector loans of the past.
Selling
FHA Premiums Increasing:
Mortgage insurance premiums for
Advertising
PRIVATE LENDER
FHA loans have increased by 25 Graphic
basis points for loans that were Locally Owned & Operated
started or assigned on or after the
Design Private Money Lender
18th of April. This is the third in-
crease in premiums in the last 12 We are a Direct Lender,
months. These increases are be- Email not a Broker
ing put into place to restore the
agency’s funds, which remain un- info@MAREInet.com  Rehab Loans up to 100% of Costs
der a 2% reserve that is required.  Up to 65% of the ARV
Read more about all of  Terms from 30 Days to 1 Year
these topics on the  Rates from 12 to 16% Interest
MAREI Blog for 05/03.  Points from 6 to 10
 Appraisals Required
 Draw Requests on Wed.

RockStarInvestor.com
Jeff Basler
913-221-9080


During the weekend of June 4-5, 2011
REALTOR Association's from across the country will
be promoting a Nationwide Open House Weekend. REALTORS will be out in force
holding open homes and talking about the benefits of homeownership. Here are 4
tips to make sure you open house is effective.

 Prepare your Property: There are 1000’s of  Coordinate with your Neighbors: Coordi-
articles for tips on how to have your home all nate all the other homes for sale in the area so
renovated, yard all spruced up, home cleaned that you are all open at the same time and you
professionally, and staged as your budget will al- are all coordinating the advertising. Have maps
low. So start preparing your property now, so you of every open home available to direct traffic. The
will be ready the first week end in June. more houses open, the more traffic you are going
to generate.

 Prepare your Marketing Pieces: Review
 Get Creative: Create a theme to generate
your marketing pieces to see where you need to
traffic from one house to another. Example pick
order new: yard signs, directional pointers to di-
up a playing card at each house for a winning
rect traffic, flyers for the flyer box, flyers for the
poker hand and at the end of the day, the best
house, banners. It may take a few weeks for
hand wins a gas card.
newly ordered items to arrive, so order now.

 Prepare your Takeaway Items: Ideally, you  Schedule Your Marketing: You can create a
want to sell your property with the open house. lot of traffic with your signs and announcing the
But it the event that this house is not the one the open house, but to create the most traffic, take a
viewers want, you want to have items that they few more steps. Think about the advertising you
take away from the open house that teach them want to do online, in the neighborhood and on so-
about the benefits of home ownership, the home cial media now so you know what steps to take
buying process, how financing works, special and when to take them. To this end, be sure to
home buyer programs available in the area, and check out the Open House Tool Box on the
even your special home buying programs, if for MAREI website for more marketing ideas: http://
example you offer lease to own. mareinet.com/marei-tool-box/openhouse/


TE-TEE LIGHT
ELECTRICAL SERVICES
Keeping you ―In-Powered‖ with “Flexible rehab options
Superior Electrical Service!
and purchase financing for
 FREE Estimates qualified investors!
 FREE Consultations on Non-Emergency Ann Wilkinson
Vice President
 24-hour Same Day Emergency Service
Mortgage Loan Production
12501 Antioch Rd
Licensed, Insured, Bonded Overland Park, KS 66213
Serving Kansas & Missouri Ph: (913) 402-1500
Fax: (913) 402-0673
AnnW@ArgentineFed.com
George Z. Bai, Sr. - Owner www.ArgentineFed.com
Office (816) 356-1870
Cell (816) 210-4710
TeTeeLight@gmail.com

For Investors By Investors
In this market, you want an agent on your
side that has the knowledge, the ability,
the EXPERIENCE,
and the resources to help you!
Do you have a house you need to sell? A wholesale
or Assignment you need an end buyer for?

We are looking for homes to Rehab and Sell to First
Time Home Buyers. Please add us to your Buyer List.

Parameters:

 After Repair Value $120,000 to $180,000

 3-4 Bedroom, 1.5+ Bath

 Basement & Garage Preferred

 Like Post 1978, but will consider older Realty Resource

 Cash Buyers, no Appraisals or Loan Qualification 115 E Gregory, KCMO

816-523-4400

kcmoHomeBuyer.com www.RealtyResourceKC.com


TRAINING
HUD Homes
It’s a Whole New REO World Date & Time
May 14th
Make small chunks of cash by wholesaling properties! 9-10 pm
Join us and learn: Location
 What is a HUD Home? 4540 Main
 Where can you find out about HUD Houses? Kansas City, MO
 How do you get inside of HUD Home?
PHP
 What do all those codes on the HUD website mean?
 Do I need a Realtor or can I go it alone? 0 PHP
 How do I make an offer on a HUD Home? Informational Only
 What changed in the last year? Cost
Members and
Workshop offered by Realtor and Investor JJ Paw- Non-Members
lowski with Chartwell Realty. FREE
Register Online

Crime FREE Housing
FREE Phase One 8 Hour Seminar Date & Time

The Advanced Management Techniques Seminar is a FREE 8 May 18th & 24th
hour seminar that is Phase One of the three phases of the 1-4 pm
Crime Free Multi Housing Program. Breakfast, lunch, and
resource material are provided at no cost as well. Location

The seminars generally last from 8:00 AM to 5:00 PM. The
See Calendar
agenda consists of 8 blocks of instruction. 2 Locations
PHP
 Screening  Drug Identification
2 Credit Landlord/
 Leases  Meth Labs Tenant 6 Management
 Evictions  Crime Prevention
Cost

8 Workshop taught by Mid-America Crime Free Housing
Free—Registration
details online
PHP
CREDITS and affiliated Attorneys and Police Officers.


EVENTS
May Webinars
Learning at Home
May 24: 6 Business Building Webinars

 The Top 5 Tech Trends and Tools Reshaping the Real
Estate Industry
 For Brokers, Managers & Marketing Directors, Shift: It’s
More than Just Social Media
 Five Simple Steps to Time Management & Organization
 How to Dominate Your Market with the Power of Video
 How 7 Agents are Using the Power of Facebook
 Get the Listing . . . Priced right w/ KC’s Brad Korn

MAREI Training
Give Back Date & Time
April 14th
MAREI is looking to partner with local experts to create 1-4 pm
workshops and trainings for our local members. Did
Location
you know that one of the best ways to generate new
115 E Gregory
clients or people to bring you deals is to teach your spe- Kansas City, MO
cialty and build credibility. Your students become your PHP
customers or the new investors who will bring you
1 Credit Marketing
deals. 2 Credits Mgmt
Cost
Members $39
Workshop taught by YOU from YOUR company shar- Non-Members $49
ing your many YEARS of Experiences. Register Online


Government
Affairs
 Qualified Residen-  Mortgage Interest
tial Mortgage Deduction
NAR has launched a website focused on the We have sent out several calls to action re-
issues raised by the proposed rule defining a garding the possible discussion of the re-
Qualified Residential Mortgage (QRM). The duction of the Mortgage Interest Deduction
proposed rule is the first step in implementing that we have all benefited from as home
a provision of the Dodd-Frank Act that requires owners for many years. This issue has
lenders that securitize mortgage loans to re- been referred to committee, and your rep-
tain 5% of the credit risk - unless the mortgage resentatives need to know your views on
is a QRM or is otherwise exempt (for example, this when it comes time for them to voice
FHA mortgages are also exempt). your opinions through discussion on the
issue and possible votes.
The proposed rule includes a very tight defini-
To find out more about this issue and to send
tion of QRM: a 20% downpayment, low debt-to
a letter to your representatives, please visit
-income ratios, and other strict credit criteria.
www.RealtorActionCenter.com . . . You
NAR opposes such a narrow definition due to
don’t have to be a Realtor to Take Action.
concerns that QRM-eligible mortgages will be-
come the standard and limit the ability of re-
sponsible consumers who maintain good
credit and seek safe loan products to qualify
for affordable mortgages.
 Investor Issues
There are many issue churning about in Gov-
Learn more at NAR’s QRM website: http:// ernment Halls across the country. Locally
www.realtor.org/topics/qrm MAREI has partnered with two services to
bring you the latest information about po-
tential legislation:
 Water Department  State Net Capital Journal: Tracks Issue
across the nation and is updated each
The Kansas City Water Department is strug-
gling to resolve issues that they are not week our state capitals are in session.
quite sure are issues. In an effort to assist  Powers Report: Tracks Issues in Jefferson
them identify problems, MAREI is collect- City alone. We update weekly as long as
ing data from our members. We have a they are in session.
start at www.MAREInet.com/kcmo-water  We are looking for a resource that tracks
where we have assembled some specific Topeka only, if you know of one, please
issues. We need your help, you can com- email us at info@MAREInet.com
ment to the post with your own issues or To read the latest update visit
email them to info@MAREInet.com www.MAREInet.com/government-affairs/
legislation-tracking


May 7 Community Donation Day for Habitat for Humanities Re-
store
May 8 Holiday Mother’s Day

May 8 Networking Lee’s Summit Investor Breakfast

CALENDAR
May 9 Deadline To Reserve Vendor Table for Tuesday’s
Meeting

Details, Times, Locations, Cost & Registration at www.MAREInet.com
May 10 Meeting Monthly Meeting: Top Problems of today’s
real estate investor JJ Pawlowski
1 Credit PHP
May 11 Networking Commercial Investors Group

store
May 18 Workshop Mid-America Crime Free, Free Housing
Phase One Seminar: 8 Hour Training
8 Credits PHP
store
May 23 Chicago FREE One Day Workshop: Larry Goins &
Alan Gowgill—Real Estate Day Trading
May 24 Workshop Mid-America Crime Free, Free Housing
Phase One Seminar: 8 Hour Training
8 Credits PHP
May 24 Webinar Afternoon of Realtor.org Training Webinars

May 25 Community KCRAR Community Event: Shredding Party

May 25 Networking Commercial Investors Group

store
June 4 Community Donation Day for Habitat for Humanities Re-
store
June 7 Webinar NAR: How to become a marketing expert
and have your phone ring off the hook
June 8 Networking Commercial Investors Group

June 9 Webinar Understanding & Applying the Uniform Ap-
praisal Dataset


Market Trends
Kansas City Market Data
―Aspiring homeowners should focus their energies on
locking down a low mortgage rate sooner than later.
While home prices are unlikely to return to pre-crash lev-
For a good overview of market activity, every month on about els, today’s low interest rates will likely rise thanks to in-
the 15th market stats recapping the prior month's activity are flation and spikes in the Fed rates,‖ notes Shuman. ―As
posted on www.kcrar.com. Links to many prior months' reports the government wind downs its role in the mortgage mar-
are also posted for reference and comparisons. Go online for
the full report, a brief summary of which (from the most-recently
kets higher mortgage interest rates will be inevitable.‖
posted stats for March 2011) shows:
 An average combined (new and existing) sales price of Read the full report on Trulila.com
$149,984, 5% lower than March 2010.

Renters Lack Affordable Options
Combined home sales of 1,884, 47% higher than the previ-
ous month.
 Combined home inventory of 16,808, virtually no change Harvard study says today’s renters lack affordable housing op-
from March 2010. tions. In the past, people who were struggling to pay rent and
Supply of homes on the market (calculated by dividing inventory utilities were measured by the 30 percent rule. If you spent
by the 12-month average of the number of sales) was 8.9 more than 30 percent of your income on housing costs, you
months for combined new and existing. This represents a mar- were considered to have heavy housing cost burdens. The
ket favoring buyers since the supply exceeds 6 months. study shows that now 1 in 4 are spending more than 50%.

We are also seeing that apartment owners are seeing growth in

Homeownership Affordability
Trulia reveals trend towards homeownership where affordability
rentals around the country and we expect the strain on rentals
to grow as new renters both people growing up and moving out
as well as people being foreclosed on come into the market and
to buy versus rents extends to almost four in five major US cit- very little new supply being built. And there is further strain with
ies. This is a study of the 50 largest cities to find if it is more shrinking supply in housing stock. More demand, causing
favorable to rent or to buy. The Rent V Buy Index last quarter higher rental prices. Read the full article on MultifamilyExecu-
revealed that in 72% of the largest 50 cities, it was more advan- tive.com
tageous to buy that rent a two bedroom home. Because of ris-

Inflation Watch
ing rents, falling home prices and low mortgage rates, we find
that only 3 cities that renting is more favorable. Those three
cities New York, Fort Worth and Kansas City.
Inflation is very important to the Real Estate community be-
Some things to consider ―With home prices nearing a dou- cause it ultimately affects mortgage rates and the ability of
ble dip and more foreclosures expected to flood the hous- home buyers to purchase a home. The report from the econo-
ing market over the next two years, the decision between mists at the National Association of Realtors tells us that if the
fed lowers interest rates to stimulate the economy, we could
renting and buying a home across most of the country
see more buyers, but we can also see raising prices. We see
has clearly moved in favor of buying,‖ says Ken Shuman,
this in the media quite often of late. Only now that as we are
Head of Communications at Trulia. ―As we head into the seeing inflation they are talking about raising interest rates to
summer buying season, those looking to buy a home curb the inflation. Prices are inching up in consumer prices
should be encouraged by improvements in the market quite a bit in energy prices, computers, household furnishings,
and feel optimistic about their chances of finding an af- and more. So economist with NAR and in the media expect the
fordable home, much more so than in previous years.‖ fed to increase interest rates, reducing the number of buyers.
To read the full report, visit Realtor.org.


See all properties on the classified page on MAREInet.com

Offered As Address City Price Bed/ Contact Phone
Bath
Turn Key 5 Single Family Kansas City, MO $250,000 Assort Kim Tucker RR 816-523-4400
Fixer 3914 Norton Kansas City, MO $10,000 2/1 Christoph Becker 816-419-1165
Fixer 2315 E 60th St Kansas City, MO $21,500 4/1 Christoph Becker 816-419-1165
Turn Key 5632 Highland Kansas City, MO $34,750 3/1 Anne Sieg KW 816-918-0840
Short Sale 4630 Mersington Kansas City, MO 5/1 Eric Deeter RR 913-579-3354
Short Sale 608 W 101st Tr Kansas City, MO $78,000 4/2 Eric Deeter RR 913-579-3354
Rehabbed 3305 Bellefontaine Kansas City, MO $32,000 3/2 Christoph Becker 816-419-1165
Turn Key 5 Single Family Kansas City $190,000 Assorted Kim Tucker RR 816-523-4400
Seller Fin 3 Single Family Kansas City, MO $150,000 Assorted Kim tucker RR 816-523-4400
Rental 5404 Euclid Kansas City, MO $22,500 3/1 Christoph Becker 816-419-1165
Rehab 8129 Wayne Kansas City, MO $54,500 3/2 Eric Deeter RR 913-579-3354
Rehab 2315 E 60th St Kansas City, MO $24,500 4/2 Christoph Becker 816-419-1165
Fixer 4418 Forest Kansas City, MO $19,500 4/2 Christoph Becker 816-419-1165
Fixer Grandview, MO $25,000 4/2 Frank Janssen 816-359-3337

Rental 4210 E 54th St Kansas City, MO $42,000 4/2 Frank Janssen 816-359-3337
Fixer 5617 Lydia Kansas City, MO $20,000 3/1 Christoph Becker 816-419-1165
Leased 2128 E 83rd Kansas City, MO $39,000 4/2 Frank Janssen 816-359-3337
RTO 1917 SE Picadilly Blue Springs, MO $118,000 3 / 2.5 Frank Janssen 816-359-3337
Fixer 2508 Chelsea Kansas City, MO $12,900 3/2 Eric Deeter RR 913-579-3354

Fixer 5434 E 27th Tr Kansas City, MO $10,850 2/1 Eric Deeter RR 913-579-3354
Turn Key 10 Single Family Kansas City $344,000 Assort Eric Deeter RR 913-579-3354


Repositioning
For BIG Profits
If you would like to justify and increase in Structural: This option is usually
rents or increase the value of your multi- more involved. When doing a struc-
family property, one of the main ways this tural repositioning it involves some
is done is through a process called of the following: changing mechani-
"Repositioning." Most people are familiar cal systems, adding decks, chang-
with rehabbing a property, but repositioning the layout, or constructing new
ings can be much more than just a physi- amenities such as pools or exercise
cal change to your property. rooms to capture additional reve-
nue. This is typically much more
Three ways you can reposition your multi- involved and can have a dramatic
family property: impact on the property, but usually
Cosmetic: Cosmetic changes consist has the highest cost and is the
of changing the aspects of the most disruptive to your current ten-
property to increase its appeal such ant base.
as landscaping, restriping and re- Operational: This option consists of
surfacing parking lots, painting, changing the way the property op-
adding signage, or changing interior erates. Typically it can include
or exterior finishes. It is the easiest changing management companies
and least involved strategy and it or managers, removing troubling
can have a dramatic impact on how tenants, bringing in a different type
your tenants feel when they arrive of tenant with more disposable in-
at your property and decide how come, increasing occupancy, or
much they are willing to pay each adding additional revenue opportu-
month to live there. nities such as laundry rentals, car-
ports, etc.
Member Expert: Spencer Cullor Why reposition? – Highest and Best Use
Director of Commercial Acquisi-  Increase Income: A higher quality
tions with Cullor Properties. property attracts a tenant with more dis-
posable income who may be willing to pay
913.324.5900 more to live there, allowing you to in-
crease rents or realize additional income
spencer@cullor.com streams such as renting carports, or laun-
dry machines, resulting in more cash flow.
Look for Spencer on Facebook
and Twitter.  Control Expenses: By replacing old
energy inefficient HVAC systems, or add-
(Continued on page 27)


ing a utility bill-back program and have a plan. positionings take time and
or individual utility meters, money. A minor repositioning
Potential pitfalls to avoid:
you can decrease your ex- can range between $1,000
penses as you pass more of  Over-improving the and $3,000 per unit. More ex-
them over to the tenant, in- property: You need to have a tensive rehabs can cost up-
creasing revenue and lowering good understanding of who wards of $10,000 per unit.
expenses. your tenant is. If you are in C- Make sure you have the
Class area with mostly service money to finish the job prop-
 Force Appreciation: By
employees and you have re- erly once you get started.
increasing income and con-
habbed your apartments to be There is nothing worse than
trolling expenses you can
fit for celebrity clientele, your cutting corners because you
force appreciation and in-
tenants will love you, but you ran out of money halfway
crease the value of your prop-
won't be able to meet your through.
erty dramatically. Remember,
rental income goals.
just a $10 per month increase The recipe for repositioning
in income or decrease in ex-  Thinking you can always success
penses across 100 units can change the class of a prop- Repositioning can be one of
increase your income by erty: If you have a 1960's the fastest ways to increase
$1000 a month and at a 10% property in a C-Class rents on your property, lower
Capitalization Rate (CAP Rate) neighborhood, almost no expenses, and lower the man-
increase the value of your amount of upgrades is going agement burdens, resulting in
property by over $120K. to change it into a B-Class an increased net operating in-
property. come and less management
Ease of Management: When
word gets out that a property  Making unrealistic as- headaches. You can com-
is being improved and has sumptions on how much pletely rehab the property, or
great management, it attracts you can raise rents: You just change some paint colors,
more reliable tenants that will, must understand what your or management. Whichever
in return, take better care of competition is offering and option you chose, you need to
their individual apartments. have solid data backing up have a well thought out plan
This will result in increased your rental rates. What are backed by research and realis-
occupancy, increased rents, similar properties renting for? tic expectations. With a clear
lower turnover costs, de- Return on investment needs plan in place, repositionings
creased rent delinquency, and to be a major driver. can be the fastest way to in-
fewer service requests. Not crease your cash flow and add
Underestimating the cost significant value to your prop-
only does this save you
of the repositioning: Re- erty.
money, it also makes the
property easier to manage
and more profitable to own. Track Foreclosures Lead Lists
Why isn't everyone doing it?
Complete Details Pre-Notice of Default
You might ask yourself, if re- Pre-Foreclosure
positioning a property is so Including Addresses
Affluent Consumer
great, why isn't everyone do-
Jackson, Clay, Platte Free & Clear Homeowner
ing it? The simple answer is
that not all properties will EZ Data Group Foreclosure Absentee Owners
benefit equally from reposi-
Newly Listed Homes
tioning. You need to under-
stand the market, know your New Business leads
competition, do your research Custom Consumer Leads
to figure out if a repositioning
is the right strategy for you, EZ Data Group Leads


Squeeze Your
Membership!
Besides all the awesome networking and exceptional speakers at the
monthly meetings, are you taking advantage of everything MAREI has
to offer you? As a member of MAREI you have a ton of benefits avail-
able, all as a part of your annual membership dues:
 Message Board: Did you know that when you post a message on
the message board it goes out to all members who have valid
email addresses?
 Classifieds: We post every property that is in our classifieds at
least once in the monthly newsletter and blast it out to the email
database at least once.
 Home Depot: A biannual rebate of 2% on your net purchases at
the Home Depot and the Home Depot Tool Rental. We have seen
several $300 checks here in Kansas City and one in Florida for
$3,000 with this program for 6 months of purchases.
 Sherwin-Williams: One of the most popular and easiest used.
Take your discount card for up to 40% off on paint, paint supplies,
& equipment, and where available floor coverings, and window
treatments. Card included in your membership package.
 FedEx Office: Up to 22% off shipping and up to 20% off on copy-
ing and printing services at any Fed Ex Office.
 Office Max: From printing & binding, to finishing & customization.
Plus all your office supply needs. Offering discounts of up to 60%.
 Rentals.com: Market your rental property online, for fewer vacan-
cies on a top ranked website. Offering 20% discounts off regular
price.
 AAA Screening: Get exceptional screening service for all your
tenants, contractors, and employees. Discounts on registration
and all searches.

To access discounts, obtain codes, or to register
as needed, see instructions on the Member Dis-
counts Page in the Member Area!

The Investment News: May 2011

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The Investment News: May 2011