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MID-AMERICA ASSOCIATION OF           REAL ESTATE INVESTORS



Investment News
NETWORKING : EDUCATION : COMMUNITY                  March 2011
March 8th Monthly Meeting

   "Fair Housing Compliance"
                It's Not an Option. It's the Law!

                   Bob Wise & Julie Anderson
                                  Attorneys at Law




              Do you know the severe penalties for Non-Compliance?

                         What you don't know can hurt you!!

          Renting Houses? Selling Houses? Selling Lease to Own?
             Are you a Realtor? Making Loans? Doing Appraisals?

            Our focus with be on the Landlord Tenant Aspect, but . . .
                       These rules apply to everyone!

   Whether we are renting, selling, or selling with lease-options or owner
   financing, one thing remains constant: we are all subject to compliance
   with Federal Fair Housing Law, and severe penalties for non-compliance.
    Wouldn't it be a horrible thing to make a mistake, omission, or misunderstood
   statement in an ad or to a prospect on the telephone, and face the possibility of
                being fined thousands to tens of thousands of dollars?

                      Find out the Law! Get Informed!
                    And Stay in Compliance in 2011!
               See page 23—1 hour PHP credit on Fair Housing


Page 2                                                                   MAREInet.com
Contents
                       MAREI News
                                                In This Issue
                                                March Meeting                                      2
                                                MAREI Staff                                        5
                                                Notes from Director                                6
                                                Member Pics                                        7
                                                Do I have to lease to this Jerk?                   8
                                                Lead Paint Laws: Do they Apply to me?             10
                                                Why are KCRAR Contracts so Long?                  12
                                                Professional Housing Provider                     14
                                                Economic Update                                   16
                                                Squeeze Your Membership                           18
                                                Live Workshops                                    20
                                                Calendar                                          22
                                                Investment Opportunities                          24
                                                Lead Paint Laws                                   26




 Features ‫ ׀‬March 2011
      Did you know         New Lead          Advertiser’s Directory

      Fair Housing         Paint Laws
                                             Sherwin Williams         13   Realty Resource        19
      Applies to           went into ef-
                           fect April 22,    Home Depot               13   AAA Screening          19
      everyone. But
                           2010. Find
 8    don’t let it
      limit you in    26   out if they ap-
                           ply to YOU.
                                             Constant Contact
                                             Accurate Title
                                                                      13
                                                                      15
                                                                           MAREI University
                                                                           Rentals.com
                                                                                                  19
                                                                                                  19
      sound busi-
                                             RockStar Investor        15   kcmoHomeBuyer.com 25
      ness deci-
      sions.                                 Argentine Federal        17   Eric Deeter            25
                                             Te-Tee Light Electric    17   Home Depot             25


Investment News                                                                               Page 3
MAREI
                                             Notes
         Contact Information
         PO Box 8685, Prairie Village KS, 66208

         Phone: 913-815-0111 Fax: 816-523-4440



         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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Page 4                                                                                    MAREInet.com
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




 Investment News                                                            Page 5
Director’s Notes
         “Ok Kim, tell me how you are going to tie Basketball     Second, I watched the coaches. The coaches have
         into real estate investing!”                            a game plan with the players they have on their
                                                                 team. The players have been coached on what to do
         At my house there are two things that we talk about     and how to reach their goal of victory. They have
         non-stop, real estate and any sport that involved a     practiced working together as a team and every
         ball. In March that sport is Basketball.                player knows where they fit in and what they are sup-
                                                                 posed to do to accomplish the team’s goal.
         A few weeks ago I was watching KU thoroughly de-
         stroy some other team and I was struck how much         Real Estate is no different. You need to sit down and
         basketball was like real estate investing.              figure out your game plan and strategy. Then you
                                                                 need to recruit the best players to your team. As a
         First the KU team is made up of a bunch of excep-       coach you oversee what your team players are doing
         tional players and each and every one of them re-       and make sure they are doing what you need to have
         members that it is a team sport. No one player alone    done. You must practice as a team, and have meet-
         on the team is going to make the team successful,       ings to re-evaluate the results. Have a few backup
         but when they all work together in unison, toward the   players warming the bench so when you have an
         same goal, they win as a team.                          injury, or you need to make a change or add a team
                                                                 player, you don’t have to look far from your bench.
                         Real Estate is much the same way, it
                         is a team business. I am struck         So be sure to network at all the live events: MAREI
                         every day when we are trying to get     meetings, sub-group meetings, educational events,
                         everything completed, that we can’t     and outside MAREI events to find those key players
                         do it alone or with 2 or 3 star play-   for your team: Realtors, Lenders, Contractors, Ac-
                         ers. You need a well rounded team       countants, Attorneys, Home Stagers, Clean Out
                         of players in your investing busi-      Guys, Insurance People . . .
                         ness: some that are great at re-
                                                                 So have a great March and enjoy the Madness. Oh
                         bounds, some that are good with free
                                                                 yes and go Cat’s (I graduated from K-State)
                         throws, some that can drive it down
                         the lane, someone who can sink
                         those 3 pointers, and someone who
                         is really tall!                                                                   Kim Tucker
                                                                                                    Director of MAREI
         You need a deep bench so when you need that guy
         or gal who can make that “buzzer beater shot”, you
         have them on your team.




          A few weeks ago I was watching KU thoroughly de-
          stroy some other team and I was struck much it
          was like real estate investing.

Page 6                                                                                         MAREInet.com
Get Involved
   We are looking for a volunteer to help us with
 taking photographs at the monthly meetings. If
    you have a digital camera and can attend the
     monthly meetings regularly, this would be a
         great way to get to know the members.
   Volunteers receive discounts on Membership
                and or Outside Training Events.


 For more information on becoming a volunteer,
                     Contact Kim Tucker, Director,
      At info@MAREInet.com or call 913-208-3544




Investment News                                      Page 7
Charles Brown has quite a few articles on fair
housing on the internet. You can search for his
name or “Do I Have to Lease to this Jerk” to
find more of his articles. No website for him.




                          Do I have to lease to
                                                        This
           As an attorney, I represent property manage-
           ment companies and provide legal advice to          Me: No.
           apartment managers. Periodically, I have a          Manager: I don't? Isn't that discrimination?
           conversation with a client that goes something      Don't I have to treat everyone the same?
           like this:
                                                               Me: Not necessarily. As long as your reason
           Manager: This guy came in this week and ap-         for not leasing to this person has nothing to do
           plied for an apartment. He is really obnoxious      with this person's race, color, religion, national
           and I get "bad vibes" from him. Do I have to        origin, sex, familial status or handicap, (the
           lease to him?                                       "protected classes" under the Fair Housing
           Me: Why does he give you "bad vibes"?               Acts), you don't have to lease to them.
           Manager: He has called every two hours to           Manager: If he is in the "protected class" don't
           see if his application has been approved.           I have to lease to him anyway?
           Then, he puts me on hold every time he gets         Me: No. You do not have to rent to him just
           another call on his call waiting. He yelled at      because he is in the "protected class". Your
           me when I told him that we would not be able        decision to deny the application is not based
           to process his application without a copy of his    on this applicant's race, color, religion, na-
           driver's license. He has asked to see the           tional origin, sex, familial status or handicap.
           same two apartments every day for the last          You may deny the application for another rea-
           week. He told my assistant manager that our         son. For example, the applicant could be in
           staff was incompetent because we could not          the "protected class", but if he refuses to fill
           tell him how many cubic inches the refrigerator     out the application completely, you could re-
           freezers have. He wants to see the resumes          fuse to lease to him based on that reason. It's
           of the maintenance staff. He made one of my         all right as long as you would have rejected
           leasing agents cry. This guy is obnoxious and       someone in the non-protected class for the
           rude.                                               same reason. However, you might want to
           Me: Did he complete his application?                document in your file the reason you rejected
                                                               someone because you may have to defend
           Manager: Yes. Good credit, no criminal his-         the decision in the future.
           tory, sufficient income. I verified the informa-
           tion on the application. He is qualified to be a    Manager: You mean we can have a "No Jerks"
           tenant here.                                        policy?
           Me: Do you have a written policy that outlines      Me: Yes. Just as you may have a policy that
           your admission criteria?                            rejects applicants who have a criminal record,
                                                               who do not have sufficient income, who have
           Manager: Yes, and he meets all of the criteria,     bad hygiene or who have bad credit history.
           but I can't imagine dealing with this guy for the   The legal test is whether your decision is be-
           next year. Do I have to lease to him?               cause of the applicant's race, color, religion,


Page 8                                                                                      MAREInet.com
national origin, sex, familial          the "protected class" illegally.       lease. As long as decision to
status or handicap. If your deci-       The problem with a "No Jerk's"         deny the lease renewal is not be-
sion is for some other reason,          policy is that it may be viewed by     cause of this tenant's race, color,
you are not violating the law.          a jury as a pretext for discrimina-    religion, national origin, sex, fa-
Manager: What do I tell him             tion. In other words, a jury might     milial status or handicap, you do
about why I'm denying his appli-        think that your rejection of some-     not have to re-new their lease.
cation? Don't I have to give him a      one based on their offensive be-       Like lease applications, you do
reason why we will not lease to         havior is just an excuse that you      not have to tell the tenant why
him?                                    are using to discriminate against      you did not renew their lease.
                                        them for some unlawful reason          Another factor comes into play in
Me: No. As long as the reason is        such as their race, color, religion,
not based on his credit report                                                 lease renewals. You may not re-
                                        national origin, sex, familial         fuse to renew a lease in retalia-
you do not have to give a reason.       status or handicap.
I do recommend that you confirm                                                tion for a tenant exercising his
all disapproved applications with       You should have a written policy       rights. Here, you must make the
a polite letter confirming their dis-   that outlines your admission cri-      distinction between a tenant who
approval but it is not required. In     teria for tenants. You may want        is rude and obnoxious in making
this situation, you do not have to      to modify the written policy to in-    legitimate demands and assert-
state the reason for the disap-         clude a category for                   ing their legal rights and the ten-
proval in the letter if you send        "Management Discretion". Your          ant that is just rude and obnox-
one.                                    file should have some documen-         ious without merit. If a tenant has
                                        tation that the basis for your de-     been obnoxious and pushy but in
Managers are often surprised to         nial was in accordance with your       the context of asserting their le-
hear that they do not have to           policy. If someone otherwise           gal rights such as requesting re-
lease to people who otherwise           meets your admission criteria but      pairs, you should probably renew
qualify to be tenants. The mis-         you are not comfortable leasing        their lease. Otherwise, a jury
conception is that they have to         to them, you may use the Man-          could easily infer a motive of re-
treat everyone the same. While          agement Discretion category as         taliation. You would have a diffi-
is it a good idea to be consistent      the basis for rejecting the appli-     cult time proving that the reason
in your treatment of all tenants        cation. In addition, include notes     for not renewing the lease was
and prospective tenants, you do         of the specific conduct that you       based solely on the tenant's con-
not have to treat everyone the          found to be offensive as well as       duct and was unrelated to their
same.                                   the basis for your decision.           exercising their legal rights.
However, if you deny an appli-          If you reject an applicant based       Life is too short to have to put up
cant just because you don't like        on the applicant's obnoxious be-       with certain people as tenants.
them, you run a greater risk of a       havior, be sure that their behav-      As long as your reason for not
discrimination claim if they are in     ior is not due to a mental disabil-    leasing to a person has nothing
the protected class. For example,       ity. The applicant may be in the       to do with their race, color, relig-
say you deny the application of a       "protected class" and you may be       ion, national origin, sex, familial
Hispanic female who is in a             inadvertently denying their appli-     status or handicap, you don't
wheelchair and has three minor          cation based on a mental disabil-      have to.
children because she is obnox-          ity, which is reason for their unac-
ious and rude to you and your                                                  Charles Brown is an attorney
                                        ceptable behavior.
staff. A jury could more easily in-                                            who invests in real estate in the
fer that your denial was based on       The same question arises in            Austin, Texas area. He is Board
some other reason (i.e. her dis-        lease renewals. Sometimes you
                                                                               Certified in Residential and Com-
ability, her race, her familial         lease to people who make life
                                        difficult for themselves and eve-      mercial Real Estate Law by the
status) than the fact that you did
                                        ryone around them and you wish         Texas Board of Legal Specializa-
not like her behavior.
                                        you had never leased to them.          tion. He can be reached at 512-
Be consistent in enforcing the          While their behavior may not           476-8942.
policies, otherwise, it may be          warrant an eviction, you may de-
hard to prove that you did not          cide to refuse to renew their
discriminate against someone in

  Investment News                                                                                         Page 9
Article from Shawn Mccadden at
ShawnMcCadden.com




             New Lead Paint Law
                                         Does it apply to me?
         Being a landlord brings with it many le-      fication requirements. These require-
        gal responsibilities related to lead paint     ments must be met when working in a
        that, if not followed, can certainly eat       tenant’s unit and or if work is to be done
        away at any potential profits. There are       in common areas on or in the rental prop-
        many rules to consider and be aware of,        erty. The rule requires that tenants be
        the most common being the lead disclo-         made aware of the work to be done and
        sure rules. Federal rules are one thing,       where it will be done in advance of start-
        but different rules in different states and    ing the work.
        different cities can make it quite difficult
        for landlords to be confident they are         When work is done inside their units, ten-
        complying. Ignorance of the rules is not       ants must be given an EPA published
        an excuse.                                     pamphlet titled “Renovate Right”. The
                                                       pamphlet explains the dangers of lead
        Lead disclosure related rules effecting        and what is required to protect their and
        landlords have been around for some            their family’s health and safety when
        time now. Still, many landlords are not        work is being done at the property where
        aware of them and even many who are            they live. If work is to be done in com-
        aware have been getting away with ig-          mon areas, the pamphlet can either be
        noring them. The EPA typically only pro-       given to tenants, or, notices can be
        actively audits “bigger fish”, like large      posted telling tenants how they can re-
        apartment complex owners, rather than          ceive the pamphlet at no cost to
        landlords with fewer properties. How-          them. Tenants must also be given or
        ever, when tenants complain about or           made aware how they can request a
        sue a landlord, their lawyers will often       document titled the “Renovation Check-
        also use lead disclosure compliance as an      list”. The checklist documents the work
        additional weapon in their arsenal. Now        done and the lead safe work practices
        there is a new weapon tenants and their        used to do the work. Under the rule the
        lawyers can use as well.                       landlord must maintain documentation
                                                       proving these and other requirements
        Many landlords are not aware of the new        were met.
        RRP Lead rule which must be followed
        when repairs, renovations, painting and        If the landlord does his own work on the
        or maintenance is done on their rental         rental property and or uses his/her own
        properties. In addition to certain re-         employees to do so, the landlord must
        quired lead-safe work practices, the RRP       also become an EPA Certified RRP firm
        rule also includes building occupant noti-                                   (Continued on page 11)




Page 10                                                                         MAREInet.com
and only use trained and certified workers to do the work. If you are a landlord doing your
own work, see the list of documentation required to be kept listed on page 11. If the landlord
hires a contractor to do the work, the landlord does not need to be certified, but the contractor
doing the work does. If a contractor does the work, the landlord is responsible to obtain from
the contractor and store all documentation required under the rule. For violations of the RRP
rules landlords can be fined up to $37,500 per day, per violation.

***Keep in mind that the RRP fines will be in addition to any fines related to disclo-
sure rules.
Depending on the work performed, who sold it and who did the work, some or all of
the following may be required:

   Copy of the Certified Firm and Certified Renovator(s) certifications
   Non certified worker training documentation
   Proof of notification and or pre-education of owners, tenants, and or the parents of children
    attending child occupied facilities.
 Designation of Certified Renovator to the job
 Information on and results of the use of EPA-recognized test kits provided by a Certified
    Renovator who acted as a representative on the Certified Firm at the job site and who con-
    ducted testing for the presence of lead-based paint
    on surfaces to be affected by the renovation
 Lead based paint inspection reports provided by a
    Certified Lead Inspector or Certified Lead Risk Asses-
    sor, if applicable
 Any other signed and dated documents form the
    owner(s) and/or residents regarding conduct of the
    renovation and requirements in the EPA RRP Rule
All reports required from the Certified Firm and Certified
Renovator by the EPA RRP Rule


       Are You CERTIFIED?
                Your FIRM?
            Get CERTIFIED
     APRIL 9th -                See pg 21

    Investment News                                                                     Page 11
Why are KCRAR
            Contracts so Long?
      One would hope that through a bit of       Let’s take a quick look at items that
      negotiations a buyer and seller could      should be in every contract:
      come to an agreement on a sales price      The Subject Property: this must be
      and terms of the agreement and then        identified at a minimum by property
      take it to a successful closing. But un-   address, the one the post office uses.
      fortunately, this does not always hap-     We should further identify it by the le-
      pen.                                       gal description and possibly the tax
      This is one of the main reasons the        identification number. Double check
      KCRAR (Kansas City Regional Associa-       that you have it right and that what
      tion of Realtors) contracts seem to add    the title or attorney writes up on the
      2 to 3 pages every year. Because           closing documents match, if not, you
      someone somewhere had an issue that        might be buying the wrong property.
      just was not covered in the contract.      Price: Just how much is being paid
      So in an effort to make sure that every    for the property. By writing it down
      issue and contingency that could arise     we have an exact figure that can’t be
      to derail the transaction are written      disputed.
      down up front and to make sure the         Earnest Money: How much is the
      Realtors involved, the lenders in-         buyer putting down, who is going to
      volved, and the title company also un-     hold this money till closing, and what
      derstand what they are supposed to         happens to it if the buyer does not
      be doing, the contracts keep growing.      close. The disposition of the earnest
      As a part of the MAREI’s training pro-     money is such a big deal that there
      gram and the National Professional         are rules, regulations, and laws about
      Housing Provider (NaPHP) certification     it.
      we have been creating a few new
                                                 Dates: When is it closing, when will
      classes on contracts. The first work-      earnest money be paid and then de-
      shop: Contracts Part 1: takes a look       posited, when will inspections be com-
      at the basic contracts we see most of-     pleted and when does the buyer have
      ten when we buy and sell residential       to have loan approval are just some of
      real estate in the Kansas City Metro.      the more common dates.
      This workshop is planned for Friday        Contingencies: Most often used as a
      March 11th from 3pm to 4:30.               way out of the contract, these are
                                                                              (Continued on page 13)




Page 12                                                                 MAREInet.com
written agreements that if x        before 1978.                   as well as the forms that
happens, then y will follow.                                       come into play when we are
                                    Seller’s Disclosure: Asks
They are usually written in                                        writing contracts on homes
                                    the seller a bunch of ques-
order to allow a buyer time                                        that are potential short
                                    tions about their property
to perform the proper due                                          sales. Offered 03/23/2011
                                    to make sure they disclose
diligence: that the property        all material facts about the   Part 3 will take a look at
is in the condition we think        property to the potential      additional forms and con-
it is, that it adheres to the       buyer.                         tracts we will utilize in the
use we want to put it to,                                          course of our investment
and that the buyer can in-          There are several other
                                                                   career: Options, Owner Fi-
deed get the proposed fi-           forms that we may find that
                                                                   nancing, Subject to,
nancing and that the prop-          deal with contingencies we
                                                                   Leases, Lease Options, and
erty will qualify for the fi-       are seeing more often these
                                                                   Developing your own Con-
nancing. Most often we see          days such as testing of air
                                                                   tracts.
the contingency that the            conditioning in cold
home will pass several in-          weather, testing for Radon     While we will start in Part 1
spections before the buyer          and the negotiation of a       with forms and contracts
finally agrees to buy, if they      short sale.                    from KCRAR, by Part 3 we
don’t, the buyer can back                                          will be reviewing contracts.
                                    We are going to look at the
out or renegotiate.                 main contracts in depth in     This class will be taught by
Financing: Another form             this workshop and then the     10 year Realtor Kim Tucker
that takes up 3 or 4 pages          odd forms that we see on       with Realty Resource who
that has a bunch of contin-         occasion.                      has also been investing in
gencies that outlines in                                           Kansas City for the same
                                    This workshop is part of a 3
specific the terms of financ-                                      time period.
                                    part series.
ing that need to be and                                            Realtors note that Kim re-
when the due diligence              Part 2 takes a look at the
                                                                   cently completed a state of
must be completed on the            forms and contracts used in
                                                                   Missouri Real Estate Audit,
part of the financing.              addition to or instead of
                                                                   so we will be covering the
                                    KCRAR contracts when we
Lead Based Paint Disclo-                                           proper way to fill out these
                                    are buying Bank Owned
sure: An EPA mandated                                              forms.
                                    Homes and HUD Properties
form on all properties built




Be sure to use your discount
card for savings of up to 40%
                                    2% Rebate, Get Registered.
off regular pricing in all stores
                                    Instructions in the member
nationwide. This is all part of
                                    area of MAREInet.com. Log
a NATIONAL Contractor Ac-
                                    in, click on Member Library
count for awesome price sav-
                                    and look for Home Depot in
ings! Card is in your mem-                                           MAREIandCC.info
                                    the Benefits Section.
bership package!


 Investment News                                                                        Page 13
Professional
                     Housing Provider
      Mission: Enable…members to expand their           ignation, and should recognize that having a
      education and knowledge via courses as            basic education in the topics outlined will
      valuable tools to attain successful goals and     increase his or her ability to reach their
      present a professional image to the public        goals in real estate investing. Further, as
      and government.                                   MAREI and National REIA works to make
      What is the PHP?                                  the National PHP designation more recog-
      PHP stands for the Professional Housing           nizable, it is hoped that the PHP holders will
      Provider program.                                 have an advantage in dealing with legal and
      What is the PHP designation?                      governmental bodies when a “my word
                                                        against his” situation occurs. It will also aid
      The PHP designation is a metrowide, educa-        in encouraging legislators to think of edu-
      tion-based certification program designed to      cated investors as a larger group for political
      recognize the high level of knowledge and         action. Other tangible benefits, including
      professionalism among the designation             discounts on courses and educational mate-
      holder. It is sponsored and overseen by the       rials, may be added as the program devel-
      Mid-America Association of Real Estate In-        ops.
      vestors (MAREI).                                  Benefits
      Why obtain the PHP designation?                       Professionalism – This level of high es-
      Only persons completing the educational re-            teem for Graduates is perceived by
      quirements on the Course of Studywill be               peers, the local media and local govern-
      permitted to hold themselves out to the public         ment officials.
      as a Professional Housing Provider. The des-       Accreditation – Graduates qualify to use
      ignee will be recognized in the form of an             the PHP title and/or initials on their busi-
      award certificate and the right to use the des-        ness cards, for rent signs, name badges,
                                                             etc.
                                                         Awards – Personal certificate awarded to
                                                             each graduate.
                                                         National PHP – Graduates from states
                                                             with identical programs automatically
                                                             qualify for the National Professional
                                                             Housing Provider Award.
                                                        Keeping Track of Hours/Credits – Paper-

                                PHP                     work
                                                        It is the responsibility of the individual candi-
                                                        date to keep track of his/her own attendance
                                                        certificates.


Page 14                                                                             MAREInet.com
 MAREI to certify that you
have completed the required                                                  accurate
courses.
How Will I Obtain Credits?
The hours may be obtained                                      Accurate Closings:
through local association meet-                            Smooth, Timely, Professional.
ings and seminars, or through
                                                         Title Services Provided for:
accredited courses taught out-
                                                          FSBO, Wholesale, & REO Transactions
side of the local association. All
                                                          New Construction Closings
outside courses and seminars
                                                          Commercial Purchases and Refinance
must meet the following re-
                                                          All Types of Loan Closings
quirements: they must be
taught live; they must be pre-          MAREI             1031 Exchanges
                                                          FHA, VA, USDA, Conventional Loans,
                                     Internships
approved by the PHP commit-
tee, and they must provide a                                 and Hard Money Loan Closings
                                                          Refinance & Reverse Mortgages
certificate of attendance accept-      Managing           Doc Prep, Prelim HUDS, Curing Issues
able to the PHP Committee.
Attendance
                                        Websites          Short Sale Closing & Assistance
                                                          100 Years of Combined Service!
In order to receive credit for any      Booking
meeting, the candidate must be           Events                  www.AccurateTitleCo.com
in attendance for at least 90%                                     913-338-0100 phone
of the meeting. NO credit will be        Selling
given for partial attendance. All      Advertising
candidates must have their at-                                    PRIVATE LENDER
tendance form stamped or ini-           Graphic
tialed at the beginning of the           Design                  Locally Owned & Operated
event and at the end of the                                        Private Money Lender
event.                                    Email
                                                                   We are a Direct Lender,
Sometimes there are a number         info@MAREInet.com                  not a Broker
of investors who typically stand
outside chatting for the majority                               Rehab Loans up to 100% of Costs
of the lecture. This does not                                   Up to 65% of the ARV
count as attendance at the                                      Terms from 30 Days to 1 Year
meeting. Remember this certifi-
                                                                Rates from 12 to 16% Interest
cation reflects a high level of
                                                                Points from 6 to 10
education among the gradu-
                                                                Appraisals Required
ates.
                                                                Draw Requests on Wed.
Find out more and
download the Course of                                                RockStarInvestor.com
Study and Master Record                                                   Jeff Basler
Sheet on the MAREI web-
site. Look under Education.
                                                                         913-221-9080



 Investment News                                                                             Page 15
December 2010

            www.KCRAR.com




                                   Economic
                                       Update
     January 2011 Housing Statistics                        time when there were 1,841new homes on the mar-
     Average Sales Price: The average new home price        ket. Existing inventory this month of 13,558 is also
     this month ($328,459) is 3% higher than the same       1% lower compared to 13,713 one month ago. The
     month last year ($318,686). There were price in-       existing inventory this month is 7% higher than it
     creases in three counties. The average existing home   was a year ago when the existing inventory was
     price this month ($129,560) is 6% lower than one       12,620. New & existing inventory combined of
     year ago ($137,738).Three counties (Jackson,           15,065 this month compared to 15,238 last month
     Leavenworth and Miami) experienced increases in        represents a 1% decrease in the past month. One
     average sales price for existing homes from the same   year ago the inventory was 14,461 which represents
     month last year. The average price for combined new    a 4% increase in total inventory over the past year.
     and existing homes in the region this month was        Kansas City Region Supply of Homes on the
     $143,626, which was 9% lower than the average          Market The Supply calculation is determined by tak-
     sales price of $157,833 for combined sales prices in   ing the “Inventory” and dividing it by the “12 month
     January 2010. Jackson, Miami and Platte counties       average of the number of Sales.” Generally speak-
     each experienced increases in the average sales        ing, a 5-6 month supply of homes on the market
     price for new & existing combined from the same        equates to a “balanced” market. When the supply
     month last year.                                       exceeds 6 months, the market begins to favor buy-
     Home Sales: New home sales this month of 91            ers, and when the supply is less than 5 months the
     represents a 13 % decrease from one year ago when      market tends to favor sellers. Supply for combined
     there were 104 new home sales in January. New          new and existing homes was 7.9 months of supply in
     home sales decreased this month by 28% from the        January which is slightly lower than December’s 8
     past month when there were 126 new home sales.         months of supply. The existing home supply was 7.7
     However, the good news is that existing home sales     months for January which reflects little change from
     in January increased 6% from one year ago when         7.8 months for December; the fourth month in a row
     there were 1,075 sales, but were down 28% from last    for decreases in supply of existing homes. The new
     month’s sales of 1,588 compared to this month’s        homes supply in January 2011 was 9.5 months,
     sales of 1,140. Combined home sales of existing and    hardly moving from December’s total of 9.6 months.
     new homes were 1,231 for January, which is also        New home supply has continued to remain relatively
     down 28% from the total of 1,714 sales from a month    constant since January 2010; hovering around the 8
     ago. This month’s combined total sales were 4% from    ½ - 9 ½ month supply for the past year. There is a
     one year ago when there were 1,180 sales.              slight buyer’s edge present in the new home market,
                                                            the existing home and combined markets.
     Inventory: New home inventory this month of 1,508
     is down 1% compared to 1,525 new homes on the          See charts online at www.KCRAR.com, look under
                                                            resources.
     market last month. The new home inventory for the
     region is 18% lower than it was a year ago at this


Page 16                                                                                    MAREInet.com
$8,000 Discount
                           Month of March
                                                                      “Flexible rehab options
                                                                     and purchase financing for
                          WHAT IS NSP?                                  qualified investors!
                                                                            Ann Wilkinson
                                                                            Vice President
In response to the recent foreclosure crisis, the                      Mortgage Loan Production
federal government is providing Kansas City with                           12501 Antioch Rd
$7.3 million through the Neighborhood Stabi-                           Overland Park, KS 66213
                                                                             Ph: (913) 402-1500
lization Program (NSP) to purchase and rehab                             Fax: (913) 402-0673
vacant, foreclosed homes in the urban core and                         AnnW@ArgentineFed.com
                                                                        www.ArgentineFed.com




                                                                  TE-TEE LIGHT
                                                            ELECTRICAL SERVICES
                                                             Keeping you “In-Powered” with
The governments in the Kansas City region are cur-            Superior Electrical Service!
rently conducting a study to identify barriers to hous-
ing choice, including discriminatory activities, in the    FREE Estimates
metropolitan area. The study will investigate many         FREE Consultations on Non-Emergency
different types of impediments to housing choice,          24-hour Same Day Emergency Service
such as lack of affordable housing, zoning impedi-
ments, etc., and develop a plan for the region to ad-          Licensed, Insured, Bonded
dress the identified barriers.                                 Serving Kansas & Missouri
In order for this study to be successful, they need in-
put from those involved in any aspect of the housing      George Z. Bai, Sr. - Owner
industry. BBC Research and Consulting, the firm con-        Office (816) 356-1870
tracted with to conduct the study, will hold four com-
munity meetings on Thursday, March 10 at four sites          Cell (816) 210-4710
in the area (see calendar for details). You are invited    TeTeeLight@gmail.com
to attend any one of these meetings. If you're unable
to attend a meeting, you can still fill out the survey.
See Calendar of Events.


 Investment News                                                                             Page 17
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!

Page 18                                                           MAREInet.com
For Investors By Investors                       More Information . . .
In this market, you want an agent on your            More Confidence
 side that has the knowledge, the ability,
             the EXPERIENCE,
       and the resources to help you!




                                                             More Profits
                                                      Tenant Screening
                                                      Pre Employment Screening
                                                      Contractor Screening
                                                      Collection Services
                    Realty Resource

                    115 E Gregory, KCMO            Discounts for MAREI Members
                    816-523-4400                                  www.AAAScreening.com
    www.RealtyResourceKC.com                                      816-436-0085




         On Demand Training
         30 Minute Segments
         Top Investor Trainers                   Do the math.
                                                 Your vacancy is costing you every day.
         From the Comfort of                     Fill your vacancy faster and save money
                                                 with Rentals.com!
    Your own Internet Connection
           Get Started Today                 Discounts for MAREI Members:
                                                  Receive 20% off all Regular
   www.MAREIU.com                                 Priced Advertising. Log into
                                                  Member’s Area, click on Member
                 Take a FREE Trial                Discounts and look for MAREI’s
                  With Andy Heller                Discount code!

              REO’s & Lease Options


Investment News                                                                  Page 18
TRAINING
                                      Check the Calendar
                                     www.MAREInet.com
                                     5 Webinars in March




                                                             Date & Time:

                                                               Saturday
                                                               March 11,2011
                                                               3:00 pm to 4:30 pm
                                                             Location:

                                                               Tucker One Prop. Bldg
          PHP Workshop: Contracts Part 1                       115 E Gregory
                                                               Kansas City, MO
          Buying or selling, this is for you:
                                                             Cost:
             Standard Contracts & Assign ability
                                                                Members: $25.00
             Buying in an Entity or Your Own Name
                                                                Non Member: $35.
             Closing Costs & Contingencies
                                                                Register On Calen-
             Appraisals & Inspections
                                                                dar of Events Online
             Disclosures                 Part 2: March 23      at
             Much More                   Part 3: March 31      www.MAREInet.com



Page 20                                                              MAREInet.com
EVENTS
                                   Avoid Fines! Avoid                           Date & Time:

                                                                                   Saturday
                                   Prison! Get Certified!                          April 9th, 2011
                           Now is the time to become an EPA-certified reno-     Location:

                           vator and follow the specific work practices that
                                                                                  Sylvester Powell Jr
                           prevent lead contamination. MAREI is proud to
                           offer this full day seminar where you will receive
                                                                                  Community Center
                           your personal RRP Training Certificate.                6200 Martway, Mission
                           The new federal Lead-Based Paint Renovation,         Cost:
                           Repair and Painting (RRP) Requirement applies to
                           anyone who performs work that disturbs paint on a       Public: $250
                           house built prior to 1978. This includes Contrac-
                                                                                   Members: $225
                           tors, Landlords, Property Managers, Apartment
                           Managers, Painters, Electricians, Plumbers, Win-        Members: $199
                           dow Installers, Pressure Washers, Realtors, Home        Early Price
                           Renovators and many more!
                                                                                   Register On Calendar
                                 Presented by MAREI & Kachina
                                                                                   of Events Online at




                                                                                Date & Time:
         Self Storage Investing Webinar
                                                                                 Wed: 3/9 12:00 pm
Did you miss the 1 day workshop? Here’s your last chance to
                                                                                 Sat: 3/12 10:00 am
get your introduction to Self Storage Investing. Join us at one
                                                                                Cost:
of two webinars to get the low down on self storage and how
                                                                                 FREE to all, But limited
you can get in on this Residual Income Producing Business.                       Phone Lines
                                                                                 Register On Calendar
              Visit the MAREI Calendar of Events
                                                                                 of Events Online at
                  For more info & to Register                                    www.MAREInet.com.
Investment News                                                                                   Page 21
March 5    PHP          Credit Scores from Career Education Sys-
                                                                                           Workshop     tems 1.5 PHP and 3 Hours Continuing Ed
                                                                                March 7    Deadline     Reserve a Vendor Table for Monthly Meeting,
                                                                                                        special price $25 for MAREI Members
                                                                                March 8    Outside      Crime Free Housing from the Independence

CALENDAR   Details, Times, Locations, Cost & Registration at www.MAREInet.com
                                                                                March 8
                                                                                           Workshop
                                                                                           Monthly
                                                                                           Meeting
                                                                                                        Police Department
                                                                                                        Fair Housing with Bob Wise and Julie Ander-
                                                                                                        son - offering 1.5 PHP
                                                                                March 9    Webinar      Self Storage Investing: Follow up webinar
                                                                                                        2 days to choose from
                                                                                March 11   PHP          Contracts Part 1: Basic Contracts covering
                                                                                           Workshop     KCRAR forms generally utilized 1.5 PHP
                                                                                March 12   Networking   Lee’s Summit Investors Networking Breakfast


                                                                                March 12   Webinar      Self Storage Investing: Follow up webinar


                                                                                March 14   Networking   Advanced Investors Focus Group: By Invita-
                                                                                                        tion or Application Only
                                                                                March 15   Webinar      New Investor Member Orientation, Find out
                                                                                                        what the benefits are at MAREI
                                                                                March 16   Networking   MAREI Commercial Investors Networking
                                                                                                        Group:
                                                                                March 22   PHP          Credit Scores from Career Education Sys-
                                                                                           Workshop     tems 1.5 PHP and 3 Hours Continuing Ed
                                                                                March 23   PHP          Contracts Part 2: Covering forms used in
                                                                                           Workshop     REO, HUD and Short Sales 1.5 PHP
                                                                                March 29   Committee    Government Affairs Committee Meeting


                                                                                March 30   Webinar      How to Win in the Generosity Generation


                                                                                March 30   Webinar      Click 2 Mail & Mailing List Interface on Pur-
                                                                                                        chasing Mailing Lists
                                                                                March 30   Networking   MAREI Commercial Investors Networking
                                                                                                        Group:
                                                                                March 31   Webinar      Click 2 Mail and Using Mail Merge in Direct
                                                                                                        Mail Marketing
                                                                                March 31   PHP          Contracts Part 3: Advanced Forms and Cre-
                                                                                                        ating Your Own.




Page 22                                                                                                                           MAREInet.com
Monthly
                                                                       Meeting
Sylvester Powell Jr
Community Center
6200 Martway, Mission KS
913-722-8200

Tuesday March 8                        5:30 Set Up
Doors open at 5:30
                                       5:40 Q & A Session till 6:00
Members: FREE
Guest Fees: $25 at door . .            6:00 Industry Partner Expo
       Pre-register online for $15                                           Guest Speaker
                                       6:00 Member Networking

If guests join with in two days of     7:00    Haves & Wants (Bring
the meeting, their guest fee will be           your Deals)                     Bob Wise
applied to the membership fee with
                                       7:30    Presentation –               Eviction Attorney
proof of payment.
                                               Fair Housing                www.BobWiseLaw.com
                                       9:00    New Member                         MO
                                               Registration
             Location
                                               PHP Certification             Julie Anderson
          6200 Martway

        Mission, KS 66210
                                                                            Eviction Attorney
                                                                        www.JulieAndersonLaw.com

                                                Park in North Lot             KS, MO & NE
 North of Shawnee Mission Pkwy

       South of Johnson Dr                    2nd from the Building

          East of Lamar                       Less Kids & Door Dings




  Investment News                                                                          Page 23
Classifieds
                         Complete listings online: www.MAREInet.com

Offered As   Address            City            Price         Bed/      Contact          Phone
                                                              Bath
Wholesale    7724 Washington    Kansas City, MO $39,900 obo   3/1       Rick Zeitun      913-461-8560

Wholesale    3806 Wayne Ave     Kansas City, MO $8,500        3/1       Christoph Becker 816-419-1165

Listing      9220 Oakland       Kansas City, MO $45,000       3/1       Kim Tucker       816-523-4400

Wholesale    405 W Dartmouth    Kansas City, MO $180,000 obo 5 / 3      Joe Reece        816-507-4203

Turn Key     4030 Vineyard Rd Kansas City, MO $55,000         4/2       Laura Johnson    732-670-4940

Wholesale    4123 Virginia Av   Kansas City, MO $7,500        3/1       Christoph Becker 816-419-1165

Wholesale    4322 Lister Ave    Kansas City, MO $16,500 obo   3/1       Christoph Becker 816-419-1165

Listing      10 Turn Key        Kansas City, MO $344,000      Varies    Eric Deeter      913-579-3354

Wholesale    3800 Chestnut      Kansas City, MO $33,000       4 / 1.5   Makeba Hart      816-665-0491

Wholesale    4737 Norton Cir    Kansas City, MO $24,500       3/1       Christoph Becker 816-419-1165

Wholesale    4522 Forest Ave    Kansas City, MO $13,750       3/1       Christoph Becker 816-419-1165

Wholesale    4501 Cypress Ave Kansas City, MO $6,500          2/1       Christoph Becker 816-419-1165

L /O         Fairway Hills      Kansas City, MO $125,000      3/2       Ryan Walls       219-864-1788

Wholesale    2500 E 69th St     Kansas City, MO $8,500        3/1       Christoph Becker 816-419-1165

Wholesale    Wanted             KCMO                          3+        Ben Souchek      Not listed

Wholesale    9517 Newton        Kansas City, MO $59,900       3/1       David Ono        816-399-4994

Listing      5 Package          Kansas City, MO Varies        Varies    JJ Pawlowski     816-877-8230

TFSBO        19 SF Houses       Kansas City, MO $695,000      Varies    Sunil Jain       913-526-1904



Page 24                                                                                MAREInet.com
Wholesalers, submit your properties at:

                                            kcmoHomeBuyer.com




       Market your                   Looking for Investment Properties
          FSBO                                         Looking for REO homes?
                                                     Visit my site to sign up for the
       TURNKEY                                Most current list of REO properties available!

      WHOLESALE                              Real Estate Investor / Agent with experience in
                                             Bank Owned, Short Sale, and Rental Properties
       PAKCAGES
        LISTINGS
                                                           Eric Deeter
                                                     Realty Resource of KC
       Must Own,                                      www.EricDeeter.com
                                                          Call (913) 579-3354
Have Ownership Interest,
  Or Listing Agreement


 You must be able to sell
                                               Home Depot
    List in the MAREI
                                   2 % Bi-Annual Rebate for MAREI members
       Classifieds                Volume Discount Pricing

                               Call me to find out how you can save
FREE Service for Members
                               on your next home renovation!
     MAREInet.com
                                     Roger Holyfield
                                     (816) 510-9199
                            Roger_L_Holyfield@HomeDepot.com




Investment News                                                                      Page 25
Do You                                                                                            ?
                       FREE Tools
      Microsoft ads tout “to the cloud” but com-
      petitor Google probably has the most tools        that can shut down some older computers,
      to do your computing in the cloud.                just email a link to the web site.
      When you have a computer and an internet          Want to collect contact information on a web
      connection you can access all of your files       page. Using Google Forms you can ask
      that are stored in the various online files or    questions and get answers that are saved
      “clouds”. Rather than emailing files back         on a master spreadsheet and receive an
      and forth between others in your office when      email notification. Great tool for collecting
      collaborating on a project. Gone are the          buyer or seller information.
      days of needing to carry around all your files
      on a flash drive or even harder, carrying         Need to make an appointment, but you left
      your computer with you. Just store them on        you day planner on the kitchen table. Pull
      the cloud and access from your home com-          up your Google Calendar on your smart
      puter, your work computer, your iPad, or          phone and make the appointment.
      your smart phone.                                 Ever have an issue with a website not work-
      To start your own online cloud or company         ing on internet explorer or Firefox? Maybe
      intranet, check out the following on Google:      your Facebook page just does not want to
      Docs, Presentations, Spreadsheets, Gmail,         work today? Try it in the Google Chrome
      Picasa, and You Tube.                             Browser.
      Need a cheap, even free phone business            Let’s say you accidentally open some online
      phone number. One option with Google is           file or answer yes when you should say no,
      running your cell phone through their service     your computer now will not work correctly
      or you can obtain a totally new number. Al-       and you don’t have the time to go buy an
      though to get a new number you may have           antivirus software and install it, try the Anti-
      to check in every day for several weeks until     virus Products in the Google Pack.
      one becomes available, but it’s worth it.         Want to see when someone mentions you
      Imagine a totally free phone number that of-      or your product online? How about when
      fers caller id, call screening, transcriptions,   someone post the key word “motivated
      emailed to you or texted to you.                  seller” and “Kansas city” on “craigslist”? Set
      Need to market a package of properties?           up a Google Alert.
      Create a Website with Google Sites and            Have a seller call with an address and want
      load up Spreadsheets and Proformas of the         to see where the house is, well look it up on
      property, add in a ton of photos from Picasa,     Google Maps, look at the property view and
      add a video tour from YouTube. Then
                                                                                          (Continued on page 27)
      rather than emailing a pile of attachments


Page 26                                                                             MAREInet.com
ask them if it is the beige or the   or smart phone, search for it on   and movies and virtual tours all
brown house and blow their           Google Gadgets.                    for free and then use them to
mind.                                                                   market on all the Social Media
                                     Every once in a while, take a
                                                                        Sites. You can also upload to
Oh yes, don’t forget if you want     look at Google Labs and see
                                                                        YouTube. Likewise you can
to find just about anything          what they are testing out. To-
                                                                        create and do basic video edit-
search for it on Google . Have       day I see they have
                                                                        ing for video email, virtual tours,
a property owner you need to         App Investor for Android to al-    and quick PR bits. All free, all
find? How about some strange         low you to create your own mo-     online, and accessible from
phone number that keeps com-         bile applications. This sounds     anywhere you can get the inter-
ing up on your caller id? Need       really cool.                       net.
to check out a Guru Speaker?
Use the original Google Search       And rather than wasting com-
Tool Bar and 9 times out of 10       puter file space consider creat-
you will find the answer.            ing online photo albums and
                                     sharing them through Google
Need a tool for your computer        Picasa. You can create albums


                                       Your Complete Website (including hosting) is just
              Email                                    $39.90 per month
            Calendar                       plus a one-time initial setup fee of $39.90
              Voice
           Documents
         Spreadsheets
       Photos on Picasa
       Video on YouTube
         Forms & Sties
                                             www.FREETrialWebsite.info
              Alerts
          Google Apps                       Risk Free - No Obligation - No Credit Card Required!




 Investment News                                                                                Page 27
informed MAREI                                           targeted group
      Professionals                                                Of Clients
 From Motivation to How To                                  Optimization of Your
    Our Members Excel                                        Marketing Dollars
MAREI members are above the                          MAREI sets the standard for real
crowd. They enjoy a informative                      estate investor networking and
newsletter, blog, and social me-                     education, drawing the type of
dia experience. They connect,                        client you want to do business
ask questions, and share oppor-                      with. Our meetings and online
tunities through the Member’s                        presence gathers targets the
Message Board. And they save                         qualified leads your business
$100 using the many member                           needs. But there is only one way
discounts.                                           to get in front of them . . become
                                                     a Business Member today!


         $99.00 / year                                      $499.00 / year
         Additional Member $50                                  Includes Advertising




               INVESTOR                                             BUSINESS
              MEMBERSHIP                                           MEMBERSHIP
  See the Membership Benefits tab under Membership    See the Business Benefits tab under Membership on
  on our web site at www.MAREInet.com for more        our website at www.MAREInet.com for more info or
  info and look for our orientation webinar on the    call the office at 913-815-0111 .
  calendar of events.

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The Investment News: March 2011

  • 1. MID-AMERICA ASSOCIATION OF REAL ESTATE INVESTORS Investment News NETWORKING : EDUCATION : COMMUNITY March 2011
  • 2. March 8th Monthly Meeting "Fair Housing Compliance" It's Not an Option. It's the Law! Bob Wise & Julie Anderson Attorneys at Law Do you know the severe penalties for Non-Compliance? What you don't know can hurt you!! Renting Houses? Selling Houses? Selling Lease to Own? Are you a Realtor? Making Loans? Doing Appraisals? Our focus with be on the Landlord Tenant Aspect, but . . . These rules apply to everyone! Whether we are renting, selling, or selling with lease-options or owner financing, one thing remains constant: we are all subject to compliance with Federal Fair Housing Law, and severe penalties for non-compliance. Wouldn't it be a horrible thing to make a mistake, omission, or misunderstood statement in an ad or to a prospect on the telephone, and face the possibility of being fined thousands to tens of thousands of dollars? Find out the Law! Get Informed! And Stay in Compliance in 2011! See page 23—1 hour PHP credit on Fair Housing Page 2 MAREInet.com
  • 3. Contents MAREI News In This Issue March Meeting 2 MAREI Staff 5 Notes from Director 6 Member Pics 7 Do I have to lease to this Jerk? 8 Lead Paint Laws: Do they Apply to me? 10 Why are KCRAR Contracts so Long? 12 Professional Housing Provider 14 Economic Update 16 Squeeze Your Membership 18 Live Workshops 20 Calendar 22 Investment Opportunities 24 Lead Paint Laws 26 Features ‫ ׀‬March 2011 Did you know New Lead Advertiser’s Directory Fair Housing Paint Laws Sherwin Williams 13 Realty Resource 19 Applies to went into ef- fect April 22, Home Depot 13 AAA Screening 19 everyone. But 2010. Find 8 don’t let it limit you in 26 out if they ap- ply to YOU. Constant Contact Accurate Title 13 15 MAREI University Rentals.com 19 19 sound busi- RockStar Investor 15 kcmoHomeBuyer.com 25 ness deci- sions. Argentine Federal 17 Eric Deeter 25 Te-Tee Light Electric 17 Home Depot 25 Investment News Page 3
  • 4. MAREI Notes Contact Information PO Box 8685, Prairie Village KS, 66208 Phone: 913-815-0111 Fax: 816-523-4440 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. Advertise in the Investment News Rate Schedule Size Non-Member Member Business Associate Full Page $175 $140 $115 1/2 Page $145 $105 $85 1/4 Page $75 $65 $50 1/8 Page $55 $35 $25 A 10% discount is given on ads pre-paid for 6-12 months. Any changes to a pre-paid ad will incur a minimum charge of $20. The deadline to submit ad copy is the 1st of each month. All ads must be prepaid. Contact to verify ad format can be accepted. PDF preferred. There is an additional charge of $25 to typeset a business card ad or 1/4 page ad layout, $60 for a 1/2 page or full page lay-out. Opportunities also exist for advertising on www.MAREInet.com. Call 913-815-0111 for more information. Email ad copy to info@MAREInet.com. Mail payment to MAREI, PO Box 8685, Prairie Vil- lage, KS 66208 or request an online payment for to use credit or debit card. Page 4 MAREInet.com
  • 5. 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 Investment News Page 5
  • 6. Director’s Notes “Ok Kim, tell me how you are going to tie Basketball Second, I watched the coaches. The coaches have into real estate investing!” a game plan with the players they have on their team. The players have been coached on what to do At my house there are two things that we talk about and how to reach their goal of victory. They have non-stop, real estate and any sport that involved a practiced working together as a team and every ball. In March that sport is Basketball. player knows where they fit in and what they are sup- posed to do to accomplish the team’s goal. A few weeks ago I was watching KU thoroughly de- stroy some other team and I was struck how much Real Estate is no different. You need to sit down and basketball was like real estate investing. figure out your game plan and strategy. Then you need to recruit the best players to your team. As a First the KU team is made up of a bunch of excep- coach you oversee what your team players are doing tional players and each and every one of them re- and make sure they are doing what you need to have members that it is a team sport. No one player alone done. You must practice as a team, and have meet- on the team is going to make the team successful, ings to re-evaluate the results. Have a few backup but when they all work together in unison, toward the players warming the bench so when you have an same goal, they win as a team. injury, or you need to make a change or add a team player, you don’t have to look far from your bench. Real Estate is much the same way, it is a team business. I am struck So be sure to network at all the live events: MAREI every day when we are trying to get meetings, sub-group meetings, educational events, everything completed, that we can’t and outside MAREI events to find those key players do it alone or with 2 or 3 star play- for your team: Realtors, Lenders, Contractors, Ac- ers. You need a well rounded team countants, Attorneys, Home Stagers, Clean Out of players in your investing busi- Guys, Insurance People . . . ness: some that are great at re- So have a great March and enjoy the Madness. Oh bounds, some that are good with free yes and go Cat’s (I graduated from K-State) throws, some that can drive it down the lane, someone who can sink those 3 pointers, and someone who is really tall! Kim Tucker Director of MAREI You need a deep bench so when you need that guy or gal who can make that “buzzer beater shot”, you have them on your team. A few weeks ago I was watching KU thoroughly de- stroy some other team and I was struck much it was like real estate investing. Page 6 MAREInet.com
  • 7. Get Involved We are looking for a volunteer to help us with taking photographs at the monthly meetings. If you have a digital camera and can attend the monthly meetings regularly, this would be a great way to get to know the members. Volunteers receive discounts on Membership and or Outside Training Events. For more information on becoming a volunteer, Contact Kim Tucker, Director, At info@MAREInet.com or call 913-208-3544 Investment News Page 7
  • 8. Charles Brown has quite a few articles on fair housing on the internet. You can search for his name or “Do I Have to Lease to this Jerk” to find more of his articles. No website for him. Do I have to lease to This As an attorney, I represent property manage- ment companies and provide legal advice to Me: No. apartment managers. Periodically, I have a Manager: I don't? Isn't that discrimination? conversation with a client that goes something Don't I have to treat everyone the same? like this: Me: Not necessarily. As long as your reason Manager: This guy came in this week and ap- for not leasing to this person has nothing to do plied for an apartment. He is really obnoxious with this person's race, color, religion, national and I get "bad vibes" from him. Do I have to origin, sex, familial status or handicap, (the lease to him? "protected classes" under the Fair Housing Me: Why does he give you "bad vibes"? Acts), you don't have to lease to them. Manager: He has called every two hours to Manager: If he is in the "protected class" don't see if his application has been approved. I have to lease to him anyway? Then, he puts me on hold every time he gets Me: No. You do not have to rent to him just another call on his call waiting. He yelled at because he is in the "protected class". Your me when I told him that we would not be able decision to deny the application is not based to process his application without a copy of his on this applicant's race, color, religion, na- driver's license. He has asked to see the tional origin, sex, familial status or handicap. same two apartments every day for the last You may deny the application for another rea- week. He told my assistant manager that our son. For example, the applicant could be in staff was incompetent because we could not the "protected class", but if he refuses to fill tell him how many cubic inches the refrigerator out the application completely, you could re- freezers have. He wants to see the resumes fuse to lease to him based on that reason. It's of the maintenance staff. He made one of my all right as long as you would have rejected leasing agents cry. This guy is obnoxious and someone in the non-protected class for the rude. same reason. However, you might want to Me: Did he complete his application? document in your file the reason you rejected someone because you may have to defend Manager: Yes. Good credit, no criminal his- the decision in the future. tory, sufficient income. I verified the informa- tion on the application. He is qualified to be a Manager: You mean we can have a "No Jerks" tenant here. policy? Me: Do you have a written policy that outlines Me: Yes. Just as you may have a policy that your admission criteria? rejects applicants who have a criminal record, who do not have sufficient income, who have Manager: Yes, and he meets all of the criteria, bad hygiene or who have bad credit history. but I can't imagine dealing with this guy for the The legal test is whether your decision is be- next year. Do I have to lease to him? cause of the applicant's race, color, religion, Page 8 MAREInet.com
  • 9. national origin, sex, familial the "protected class" illegally. lease. As long as decision to status or handicap. If your deci- The problem with a "No Jerk's" deny the lease renewal is not be- sion is for some other reason, policy is that it may be viewed by cause of this tenant's race, color, you are not violating the law. a jury as a pretext for discrimina- religion, national origin, sex, fa- Manager: What do I tell him tion. In other words, a jury might milial status or handicap, you do about why I'm denying his appli- think that your rejection of some- not have to re-new their lease. cation? Don't I have to give him a one based on their offensive be- Like lease applications, you do reason why we will not lease to havior is just an excuse that you not have to tell the tenant why him? are using to discriminate against you did not renew their lease. them for some unlawful reason Another factor comes into play in Me: No. As long as the reason is such as their race, color, religion, not based on his credit report lease renewals. You may not re- national origin, sex, familial fuse to renew a lease in retalia- you do not have to give a reason. status or handicap. I do recommend that you confirm tion for a tenant exercising his all disapproved applications with You should have a written policy rights. Here, you must make the a polite letter confirming their dis- that outlines your admission cri- distinction between a tenant who approval but it is not required. In teria for tenants. You may want is rude and obnoxious in making this situation, you do not have to to modify the written policy to in- legitimate demands and assert- state the reason for the disap- clude a category for ing their legal rights and the ten- proval in the letter if you send "Management Discretion". Your ant that is just rude and obnox- one. file should have some documen- ious without merit. If a tenant has tation that the basis for your de- been obnoxious and pushy but in Managers are often surprised to nial was in accordance with your the context of asserting their le- hear that they do not have to policy. If someone otherwise gal rights such as requesting re- lease to people who otherwise meets your admission criteria but pairs, you should probably renew qualify to be tenants. The mis- you are not comfortable leasing their lease. Otherwise, a jury conception is that they have to to them, you may use the Man- could easily infer a motive of re- treat everyone the same. While agement Discretion category as taliation. You would have a diffi- is it a good idea to be consistent the basis for rejecting the appli- cult time proving that the reason in your treatment of all tenants cation. In addition, include notes for not renewing the lease was and prospective tenants, you do of the specific conduct that you based solely on the tenant's con- not have to treat everyone the found to be offensive as well as duct and was unrelated to their same. the basis for your decision. exercising their legal rights. However, if you deny an appli- If you reject an applicant based Life is too short to have to put up cant just because you don't like on the applicant's obnoxious be- with certain people as tenants. them, you run a greater risk of a havior, be sure that their behav- As long as your reason for not discrimination claim if they are in ior is not due to a mental disabil- leasing to a person has nothing the protected class. For example, ity. The applicant may be in the to do with their race, color, relig- say you deny the application of a "protected class" and you may be ion, national origin, sex, familial Hispanic female who is in a inadvertently denying their appli- status or handicap, you don't wheelchair and has three minor cation based on a mental disabil- have to. children because she is obnox- ity, which is reason for their unac- ious and rude to you and your Charles Brown is an attorney ceptable behavior. staff. A jury could more easily in- who invests in real estate in the fer that your denial was based on The same question arises in Austin, Texas area. He is Board some other reason (i.e. her dis- lease renewals. Sometimes you Certified in Residential and Com- ability, her race, her familial lease to people who make life difficult for themselves and eve- mercial Real Estate Law by the status) than the fact that you did ryone around them and you wish Texas Board of Legal Specializa- not like her behavior. you had never leased to them. tion. He can be reached at 512- Be consistent in enforcing the While their behavior may not 476-8942. policies, otherwise, it may be warrant an eviction, you may de- hard to prove that you did not cide to refuse to renew their discriminate against someone in Investment News Page 9
  • 10. Article from Shawn Mccadden at ShawnMcCadden.com New Lead Paint Law Does it apply to me? Being a landlord brings with it many le- fication requirements. These require- gal responsibilities related to lead paint ments must be met when working in a that, if not followed, can certainly eat tenant’s unit and or if work is to be done away at any potential profits. There are in common areas on or in the rental prop- many rules to consider and be aware of, erty. The rule requires that tenants be the most common being the lead disclo- made aware of the work to be done and sure rules. Federal rules are one thing, where it will be done in advance of start- but different rules in different states and ing the work. different cities can make it quite difficult for landlords to be confident they are When work is done inside their units, ten- complying. Ignorance of the rules is not ants must be given an EPA published an excuse. pamphlet titled “Renovate Right”. The pamphlet explains the dangers of lead Lead disclosure related rules effecting and what is required to protect their and landlords have been around for some their family’s health and safety when time now. Still, many landlords are not work is being done at the property where aware of them and even many who are they live. If work is to be done in com- aware have been getting away with ig- mon areas, the pamphlet can either be noring them. The EPA typically only pro- given to tenants, or, notices can be actively audits “bigger fish”, like large posted telling tenants how they can re- apartment complex owners, rather than ceive the pamphlet at no cost to landlords with fewer properties. How- them. Tenants must also be given or ever, when tenants complain about or made aware how they can request a sue a landlord, their lawyers will often document titled the “Renovation Check- also use lead disclosure compliance as an list”. The checklist documents the work additional weapon in their arsenal. Now done and the lead safe work practices there is a new weapon tenants and their used to do the work. Under the rule the lawyers can use as well. landlord must maintain documentation proving these and other requirements Many landlords are not aware of the new were met. RRP Lead rule which must be followed when repairs, renovations, painting and If the landlord does his own work on the or maintenance is done on their rental rental property and or uses his/her own properties. In addition to certain re- employees to do so, the landlord must quired lead-safe work practices, the RRP also become an EPA Certified RRP firm rule also includes building occupant noti- (Continued on page 11) Page 10 MAREInet.com
  • 11. and only use trained and certified workers to do the work. If you are a landlord doing your own work, see the list of documentation required to be kept listed on page 11. If the landlord hires a contractor to do the work, the landlord does not need to be certified, but the contractor doing the work does. If a contractor does the work, the landlord is responsible to obtain from the contractor and store all documentation required under the rule. For violations of the RRP rules landlords can be fined up to $37,500 per day, per violation. ***Keep in mind that the RRP fines will be in addition to any fines related to disclo- sure rules. Depending on the work performed, who sold it and who did the work, some or all of the following may be required:  Copy of the Certified Firm and Certified Renovator(s) certifications  Non certified worker training documentation  Proof of notification and or pre-education of owners, tenants, and or the parents of children attending child occupied facilities.  Designation of Certified Renovator to the job  Information on and results of the use of EPA-recognized test kits provided by a Certified Renovator who acted as a representative on the Certified Firm at the job site and who con- ducted testing for the presence of lead-based paint on surfaces to be affected by the renovation  Lead based paint inspection reports provided by a Certified Lead Inspector or Certified Lead Risk Asses- sor, if applicable  Any other signed and dated documents form the owner(s) and/or residents regarding conduct of the renovation and requirements in the EPA RRP Rule All reports required from the Certified Firm and Certified Renovator by the EPA RRP Rule Are You CERTIFIED? Your FIRM? Get CERTIFIED APRIL 9th - See pg 21 Investment News Page 11
  • 12. Why are KCRAR Contracts so Long? One would hope that through a bit of Let’s take a quick look at items that negotiations a buyer and seller could should be in every contract: come to an agreement on a sales price The Subject Property: this must be and terms of the agreement and then identified at a minimum by property take it to a successful closing. But un- address, the one the post office uses. fortunately, this does not always hap- We should further identify it by the le- pen. gal description and possibly the tax This is one of the main reasons the identification number. Double check KCRAR (Kansas City Regional Associa- that you have it right and that what tion of Realtors) contracts seem to add the title or attorney writes up on the 2 to 3 pages every year. Because closing documents match, if not, you someone somewhere had an issue that might be buying the wrong property. just was not covered in the contract. Price: Just how much is being paid So in an effort to make sure that every for the property. By writing it down issue and contingency that could arise we have an exact figure that can’t be to derail the transaction are written disputed. down up front and to make sure the Earnest Money: How much is the Realtors involved, the lenders in- buyer putting down, who is going to volved, and the title company also un- hold this money till closing, and what derstand what they are supposed to happens to it if the buyer does not be doing, the contracts keep growing. close. The disposition of the earnest As a part of the MAREI’s training pro- money is such a big deal that there gram and the National Professional are rules, regulations, and laws about Housing Provider (NaPHP) certification it. we have been creating a few new Dates: When is it closing, when will classes on contracts. The first work- earnest money be paid and then de- shop: Contracts Part 1: takes a look posited, when will inspections be com- at the basic contracts we see most of- pleted and when does the buyer have ten when we buy and sell residential to have loan approval are just some of real estate in the Kansas City Metro. the more common dates. This workshop is planned for Friday Contingencies: Most often used as a March 11th from 3pm to 4:30. way out of the contract, these are (Continued on page 13) Page 12 MAREInet.com
  • 13. written agreements that if x before 1978. as well as the forms that happens, then y will follow. come into play when we are Seller’s Disclosure: Asks They are usually written in writing contracts on homes the seller a bunch of ques- order to allow a buyer time that are potential short tions about their property to perform the proper due sales. Offered 03/23/2011 to make sure they disclose diligence: that the property all material facts about the Part 3 will take a look at is in the condition we think property to the potential additional forms and con- it is, that it adheres to the buyer. tracts we will utilize in the use we want to put it to, course of our investment and that the buyer can in- There are several other career: Options, Owner Fi- deed get the proposed fi- forms that we may find that nancing, Subject to, nancing and that the prop- deal with contingencies we Leases, Lease Options, and erty will qualify for the fi- are seeing more often these Developing your own Con- nancing. Most often we see days such as testing of air tracts. the contingency that the conditioning in cold home will pass several in- weather, testing for Radon While we will start in Part 1 spections before the buyer and the negotiation of a with forms and contracts finally agrees to buy, if they short sale. from KCRAR, by Part 3 we don’t, the buyer can back will be reviewing contracts. We are going to look at the out or renegotiate. main contracts in depth in This class will be taught by Financing: Another form this workshop and then the 10 year Realtor Kim Tucker that takes up 3 or 4 pages odd forms that we see on with Realty Resource who that has a bunch of contin- occasion. has also been investing in gencies that outlines in Kansas City for the same This workshop is part of a 3 specific the terms of financ- time period. part series. ing that need to be and Realtors note that Kim re- when the due diligence Part 2 takes a look at the cently completed a state of must be completed on the forms and contracts used in Missouri Real Estate Audit, part of the financing. addition to or instead of so we will be covering the KCRAR contracts when we Lead Based Paint Disclo- proper way to fill out these are buying Bank Owned sure: An EPA mandated forms. Homes and HUD Properties form on all properties built Be sure to use your discount card for savings of up to 40% 2% Rebate, Get Registered. off regular pricing in all stores Instructions in the member nationwide. This is all part of area of MAREInet.com. Log a NATIONAL Contractor Ac- in, click on Member Library count for awesome price sav- and look for Home Depot in ings! Card is in your mem- MAREIandCC.info the Benefits Section. bership package! Investment News Page 13
  • 14. Professional Housing Provider Mission: Enable…members to expand their ignation, and should recognize that having a education and knowledge via courses as basic education in the topics outlined will valuable tools to attain successful goals and increase his or her ability to reach their present a professional image to the public goals in real estate investing. Further, as and government. MAREI and National REIA works to make What is the PHP? the National PHP designation more recog- PHP stands for the Professional Housing nizable, it is hoped that the PHP holders will Provider program. have an advantage in dealing with legal and What is the PHP designation? governmental bodies when a “my word against his” situation occurs. It will also aid The PHP designation is a metrowide, educa- in encouraging legislators to think of edu- tion-based certification program designed to cated investors as a larger group for political recognize the high level of knowledge and action. Other tangible benefits, including professionalism among the designation discounts on courses and educational mate- holder. It is sponsored and overseen by the rials, may be added as the program devel- Mid-America Association of Real Estate In- ops. vestors (MAREI). Benefits Why obtain the PHP designation?  Professionalism – This level of high es- Only persons completing the educational re- teem for Graduates is perceived by quirements on the Course of Studywill be peers, the local media and local govern- permitted to hold themselves out to the public ment officials. as a Professional Housing Provider. The des-  Accreditation – Graduates qualify to use ignee will be recognized in the form of an the PHP title and/or initials on their busi- award certificate and the right to use the des- ness cards, for rent signs, name badges, etc.  Awards – Personal certificate awarded to each graduate.  National PHP – Graduates from states with identical programs automatically qualify for the National Professional Housing Provider Award. Keeping Track of Hours/Credits – Paper- PHP work It is the responsibility of the individual candi- date to keep track of his/her own attendance certificates. Page 14 MAREInet.com
  • 15.  MAREI to certify that you have completed the required accurate courses. How Will I Obtain Credits? The hours may be obtained Accurate Closings: through local association meet- Smooth, Timely, Professional. ings and seminars, or through Title Services Provided for: accredited courses taught out-  FSBO, Wholesale, & REO Transactions side of the local association. All  New Construction Closings outside courses and seminars  Commercial Purchases and Refinance must meet the following re-  All Types of Loan Closings quirements: they must be taught live; they must be pre- MAREI  1031 Exchanges  FHA, VA, USDA, Conventional Loans, Internships approved by the PHP commit- tee, and they must provide a and Hard Money Loan Closings  Refinance & Reverse Mortgages certificate of attendance accept- Managing  Doc Prep, Prelim HUDS, Curing Issues able to the PHP Committee. Attendance Websites  Short Sale Closing & Assistance  100 Years of Combined Service! In order to receive credit for any Booking meeting, the candidate must be Events www.AccurateTitleCo.com in attendance for at least 90% 913-338-0100 phone of the meeting. NO credit will be Selling given for partial attendance. All Advertising candidates must have their at- PRIVATE LENDER tendance form stamped or ini- Graphic tialed at the beginning of the Design Locally Owned & Operated event and at the end of the Private Money Lender event. Email We are a Direct Lender, Sometimes there are a number info@MAREInet.com not a Broker of investors who typically stand outside chatting for the majority  Rehab Loans up to 100% of Costs of the lecture. This does not  Up to 65% of the ARV count as attendance at the  Terms from 30 Days to 1 Year meeting. Remember this certifi-  Rates from 12 to 16% Interest cation reflects a high level of  Points from 6 to 10 education among the gradu-  Appraisals Required ates.  Draw Requests on Wed. Find out more and download the Course of RockStarInvestor.com Study and Master Record Jeff Basler Sheet on the MAREI web- site. Look under Education. 913-221-9080 Investment News Page 15
  • 16. December 2010 www.KCRAR.com Economic Update January 2011 Housing Statistics time when there were 1,841new homes on the mar- Average Sales Price: The average new home price ket. Existing inventory this month of 13,558 is also this month ($328,459) is 3% higher than the same 1% lower compared to 13,713 one month ago. The month last year ($318,686). There were price in- existing inventory this month is 7% higher than it creases in three counties. The average existing home was a year ago when the existing inventory was price this month ($129,560) is 6% lower than one 12,620. New & existing inventory combined of year ago ($137,738).Three counties (Jackson, 15,065 this month compared to 15,238 last month Leavenworth and Miami) experienced increases in represents a 1% decrease in the past month. One average sales price for existing homes from the same year ago the inventory was 14,461 which represents month last year. The average price for combined new a 4% increase in total inventory over the past year. and existing homes in the region this month was Kansas City Region Supply of Homes on the $143,626, which was 9% lower than the average Market The Supply calculation is determined by tak- sales price of $157,833 for combined sales prices in ing the “Inventory” and dividing it by the “12 month January 2010. Jackson, Miami and Platte counties average of the number of Sales.” Generally speak- each experienced increases in the average sales ing, a 5-6 month supply of homes on the market price for new & existing combined from the same equates to a “balanced” market. When the supply month last year. exceeds 6 months, the market begins to favor buy- Home Sales: New home sales this month of 91 ers, and when the supply is less than 5 months the represents a 13 % decrease from one year ago when market tends to favor sellers. Supply for combined there were 104 new home sales in January. New new and existing homes was 7.9 months of supply in home sales decreased this month by 28% from the January which is slightly lower than December’s 8 past month when there were 126 new home sales. months of supply. The existing home supply was 7.7 However, the good news is that existing home sales months for January which reflects little change from in January increased 6% from one year ago when 7.8 months for December; the fourth month in a row there were 1,075 sales, but were down 28% from last for decreases in supply of existing homes. The new month’s sales of 1,588 compared to this month’s homes supply in January 2011 was 9.5 months, sales of 1,140. Combined home sales of existing and hardly moving from December’s total of 9.6 months. new homes were 1,231 for January, which is also New home supply has continued to remain relatively down 28% from the total of 1,714 sales from a month constant since January 2010; hovering around the 8 ago. This month’s combined total sales were 4% from ½ - 9 ½ month supply for the past year. There is a one year ago when there were 1,180 sales. slight buyer’s edge present in the new home market, the existing home and combined markets. Inventory: New home inventory this month of 1,508 is down 1% compared to 1,525 new homes on the See charts online at www.KCRAR.com, look under resources. market last month. The new home inventory for the region is 18% lower than it was a year ago at this Page 16 MAREInet.com
  • 17. $8,000 Discount Month of March “Flexible rehab options and purchase financing for WHAT IS NSP? qualified investors! Ann Wilkinson Vice President In response to the recent foreclosure crisis, the Mortgage Loan Production federal government is providing Kansas City with 12501 Antioch Rd $7.3 million through the Neighborhood Stabi- Overland Park, KS 66213 Ph: (913) 402-1500 lization Program (NSP) to purchase and rehab Fax: (913) 402-0673 vacant, foreclosed homes in the urban core and AnnW@ArgentineFed.com www.ArgentineFed.com TE-TEE LIGHT ELECTRICAL SERVICES Keeping you “In-Powered” with The governments in the Kansas City region are cur- Superior Electrical Service! rently conducting a study to identify barriers to hous- ing choice, including discriminatory activities, in the  FREE Estimates metropolitan area. The study will investigate many  FREE Consultations on Non-Emergency different types of impediments to housing choice,  24-hour Same Day Emergency Service such as lack of affordable housing, zoning impedi- ments, etc., and develop a plan for the region to ad- Licensed, Insured, Bonded dress the identified barriers. Serving Kansas & Missouri In order for this study to be successful, they need in- put from those involved in any aspect of the housing George Z. Bai, Sr. - Owner industry. BBC Research and Consulting, the firm con- Office (816) 356-1870 tracted with to conduct the study, will hold four com- munity meetings on Thursday, March 10 at four sites Cell (816) 210-4710 in the area (see calendar for details). You are invited TeTeeLight@gmail.com to attend any one of these meetings. If you're unable to attend a meeting, you can still fill out the survey. See Calendar of Events. Investment News Page 17
  • 18. 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! Page 18 MAREInet.com
  • 19. For Investors By Investors More Information . . . In this market, you want an agent on your More Confidence side that has the knowledge, the ability, the EXPERIENCE, and the resources to help you! More Profits Tenant Screening Pre Employment Screening Contractor Screening Collection Services Realty Resource 115 E Gregory, KCMO Discounts for MAREI Members 816-523-4400 www.AAAScreening.com www.RealtyResourceKC.com 816-436-0085 On Demand Training 30 Minute Segments Top Investor Trainers Do the math. Your vacancy is costing you every day. From the Comfort of Fill your vacancy faster and save money with Rentals.com! Your own Internet Connection Get Started Today Discounts for MAREI Members: Receive 20% off all Regular www.MAREIU.com Priced Advertising. Log into Member’s Area, click on Member Take a FREE Trial Discounts and look for MAREI’s With Andy Heller Discount code! REO’s & Lease Options Investment News Page 18
  • 20. TRAINING Check the Calendar www.MAREInet.com 5 Webinars in March Date & Time: Saturday March 11,2011 3:00 pm to 4:30 pm Location: Tucker One Prop. Bldg PHP Workshop: Contracts Part 1 115 E Gregory Kansas City, MO Buying or selling, this is for you: Cost:  Standard Contracts & Assign ability Members: $25.00  Buying in an Entity or Your Own Name Non Member: $35.  Closing Costs & Contingencies Register On Calen-  Appraisals & Inspections dar of Events Online  Disclosures Part 2: March 23 at  Much More Part 3: March 31 www.MAREInet.com Page 20 MAREInet.com
  • 21. EVENTS Avoid Fines! Avoid Date & Time: Saturday Prison! Get Certified! April 9th, 2011 Now is the time to become an EPA-certified reno- Location: vator and follow the specific work practices that Sylvester Powell Jr prevent lead contamination. MAREI is proud to offer this full day seminar where you will receive Community Center your personal RRP Training Certificate. 6200 Martway, Mission The new federal Lead-Based Paint Renovation, Cost: Repair and Painting (RRP) Requirement applies to anyone who performs work that disturbs paint on a Public: $250 house built prior to 1978. This includes Contrac- Members: $225 tors, Landlords, Property Managers, Apartment Managers, Painters, Electricians, Plumbers, Win- Members: $199 dow Installers, Pressure Washers, Realtors, Home Early Price Renovators and many more! Register On Calendar Presented by MAREI & Kachina of Events Online at Date & Time: Self Storage Investing Webinar Wed: 3/9 12:00 pm Did you miss the 1 day workshop? Here’s your last chance to Sat: 3/12 10:00 am get your introduction to Self Storage Investing. Join us at one Cost: of two webinars to get the low down on self storage and how FREE to all, But limited you can get in on this Residual Income Producing Business. Phone Lines Register On Calendar Visit the MAREI Calendar of Events of Events Online at For more info & to Register www.MAREInet.com. Investment News Page 21
  • 22. March 5 PHP Credit Scores from Career Education Sys- Workshop tems 1.5 PHP and 3 Hours Continuing Ed March 7 Deadline Reserve a Vendor Table for Monthly Meeting, special price $25 for MAREI Members March 8 Outside Crime Free Housing from the Independence CALENDAR Details, Times, Locations, Cost & Registration at www.MAREInet.com March 8 Workshop Monthly Meeting Police Department Fair Housing with Bob Wise and Julie Ander- son - offering 1.5 PHP March 9 Webinar Self Storage Investing: Follow up webinar 2 days to choose from March 11 PHP Contracts Part 1: Basic Contracts covering Workshop KCRAR forms generally utilized 1.5 PHP March 12 Networking Lee’s Summit Investors Networking Breakfast March 12 Webinar Self Storage Investing: Follow up webinar March 14 Networking Advanced Investors Focus Group: By Invita- tion or Application Only March 15 Webinar New Investor Member Orientation, Find out what the benefits are at MAREI March 16 Networking MAREI Commercial Investors Networking Group: March 22 PHP Credit Scores from Career Education Sys- Workshop tems 1.5 PHP and 3 Hours Continuing Ed March 23 PHP Contracts Part 2: Covering forms used in Workshop REO, HUD and Short Sales 1.5 PHP March 29 Committee Government Affairs Committee Meeting March 30 Webinar How to Win in the Generosity Generation March 30 Webinar Click 2 Mail & Mailing List Interface on Pur- chasing Mailing Lists March 30 Networking MAREI Commercial Investors Networking Group: March 31 Webinar Click 2 Mail and Using Mail Merge in Direct Mail Marketing March 31 PHP Contracts Part 3: Advanced Forms and Cre- ating Your Own. Page 22 MAREInet.com
  • 23. Monthly Meeting Sylvester Powell Jr Community Center 6200 Martway, Mission KS 913-722-8200 Tuesday March 8 5:30 Set Up Doors open at 5:30 5:40 Q & A Session till 6:00 Members: FREE Guest Fees: $25 at door . . 6:00 Industry Partner Expo Pre-register online for $15 Guest Speaker 6:00 Member Networking If guests join with in two days of 7:00 Haves & Wants (Bring the meeting, their guest fee will be your Deals) Bob Wise applied to the membership fee with 7:30 Presentation – Eviction Attorney proof of payment. Fair Housing www.BobWiseLaw.com 9:00 New Member MO Registration Location PHP Certification Julie Anderson 6200 Martway Mission, KS 66210 Eviction Attorney www.JulieAndersonLaw.com Park in North Lot KS, MO & NE North of Shawnee Mission Pkwy South of Johnson Dr 2nd from the Building East of Lamar Less Kids & Door Dings Investment News Page 23
  • 24. Classifieds Complete listings online: www.MAREInet.com Offered As Address City Price Bed/ Contact Phone Bath Wholesale 7724 Washington Kansas City, MO $39,900 obo 3/1 Rick Zeitun 913-461-8560 Wholesale 3806 Wayne Ave Kansas City, MO $8,500 3/1 Christoph Becker 816-419-1165 Listing 9220 Oakland Kansas City, MO $45,000 3/1 Kim Tucker 816-523-4400 Wholesale 405 W Dartmouth Kansas City, MO $180,000 obo 5 / 3 Joe Reece 816-507-4203 Turn Key 4030 Vineyard Rd Kansas City, MO $55,000 4/2 Laura Johnson 732-670-4940 Wholesale 4123 Virginia Av Kansas City, MO $7,500 3/1 Christoph Becker 816-419-1165 Wholesale 4322 Lister Ave Kansas City, MO $16,500 obo 3/1 Christoph Becker 816-419-1165 Listing 10 Turn Key Kansas City, MO $344,000 Varies Eric Deeter 913-579-3354 Wholesale 3800 Chestnut Kansas City, MO $33,000 4 / 1.5 Makeba Hart 816-665-0491 Wholesale 4737 Norton Cir Kansas City, MO $24,500 3/1 Christoph Becker 816-419-1165 Wholesale 4522 Forest Ave Kansas City, MO $13,750 3/1 Christoph Becker 816-419-1165 Wholesale 4501 Cypress Ave Kansas City, MO $6,500 2/1 Christoph Becker 816-419-1165 L /O Fairway Hills Kansas City, MO $125,000 3/2 Ryan Walls 219-864-1788 Wholesale 2500 E 69th St Kansas City, MO $8,500 3/1 Christoph Becker 816-419-1165 Wholesale Wanted KCMO 3+ Ben Souchek Not listed Wholesale 9517 Newton Kansas City, MO $59,900 3/1 David Ono 816-399-4994 Listing 5 Package Kansas City, MO Varies Varies JJ Pawlowski 816-877-8230 TFSBO 19 SF Houses Kansas City, MO $695,000 Varies Sunil Jain 913-526-1904 Page 24 MAREInet.com
  • 25. Wholesalers, submit your properties at: kcmoHomeBuyer.com Market your Looking for Investment Properties FSBO Looking for REO homes? Visit my site to sign up for the TURNKEY Most current list of REO properties available! WHOLESALE Real Estate Investor / Agent with experience in Bank Owned, Short Sale, and Rental Properties PAKCAGES LISTINGS Eric Deeter Realty Resource of KC Must Own, www.EricDeeter.com Call (913) 579-3354 Have Ownership Interest, Or Listing Agreement You must be able to sell Home Depot List in the MAREI  2 % Bi-Annual Rebate for MAREI members Classifieds  Volume Discount Pricing Call me to find out how you can save FREE Service for Members on your next home renovation! MAREInet.com Roger Holyfield (816) 510-9199 Roger_L_Holyfield@HomeDepot.com Investment News Page 25
  • 26. Do You ? FREE Tools Microsoft ads tout “to the cloud” but com- petitor Google probably has the most tools that can shut down some older computers, to do your computing in the cloud. just email a link to the web site. When you have a computer and an internet Want to collect contact information on a web connection you can access all of your files page. Using Google Forms you can ask that are stored in the various online files or questions and get answers that are saved “clouds”. Rather than emailing files back on a master spreadsheet and receive an and forth between others in your office when email notification. Great tool for collecting collaborating on a project. Gone are the buyer or seller information. days of needing to carry around all your files on a flash drive or even harder, carrying Need to make an appointment, but you left your computer with you. Just store them on you day planner on the kitchen table. Pull the cloud and access from your home com- up your Google Calendar on your smart puter, your work computer, your iPad, or phone and make the appointment. your smart phone. Ever have an issue with a website not work- To start your own online cloud or company ing on internet explorer or Firefox? Maybe intranet, check out the following on Google: your Facebook page just does not want to Docs, Presentations, Spreadsheets, Gmail, work today? Try it in the Google Chrome Picasa, and You Tube. Browser. Need a cheap, even free phone business Let’s say you accidentally open some online phone number. One option with Google is file or answer yes when you should say no, running your cell phone through their service your computer now will not work correctly or you can obtain a totally new number. Al- and you don’t have the time to go buy an though to get a new number you may have antivirus software and install it, try the Anti- to check in every day for several weeks until virus Products in the Google Pack. one becomes available, but it’s worth it. Want to see when someone mentions you Imagine a totally free phone number that of- or your product online? How about when fers caller id, call screening, transcriptions, someone post the key word “motivated emailed to you or texted to you. seller” and “Kansas city” on “craigslist”? Set Need to market a package of properties? up a Google Alert. Create a Website with Google Sites and Have a seller call with an address and want load up Spreadsheets and Proformas of the to see where the house is, well look it up on property, add in a ton of photos from Picasa, Google Maps, look at the property view and add a video tour from YouTube. Then (Continued on page 27) rather than emailing a pile of attachments Page 26 MAREInet.com
  • 27. ask them if it is the beige or the or smart phone, search for it on and movies and virtual tours all brown house and blow their Google Gadgets. for free and then use them to mind. market on all the Social Media Every once in a while, take a Sites. You can also upload to Oh yes, don’t forget if you want look at Google Labs and see YouTube. Likewise you can to find just about anything what they are testing out. To- create and do basic video edit- search for it on Google . Have day I see they have ing for video email, virtual tours, a property owner you need to App Investor for Android to al- and quick PR bits. All free, all find? How about some strange low you to create your own mo- online, and accessible from phone number that keeps com- bile applications. This sounds anywhere you can get the inter- ing up on your caller id? Need really cool. net. to check out a Guru Speaker? Use the original Google Search And rather than wasting com- Tool Bar and 9 times out of 10 puter file space consider creat- you will find the answer. ing online photo albums and sharing them through Google Need a tool for your computer Picasa. You can create albums Your Complete Website (including hosting) is just Email $39.90 per month Calendar plus a one-time initial setup fee of $39.90 Voice Documents Spreadsheets Photos on Picasa Video on YouTube Forms & Sties www.FREETrialWebsite.info Alerts Google Apps Risk Free - No Obligation - No Credit Card Required! Investment News Page 27
  • 28. informed MAREI targeted group Professionals Of Clients From Motivation to How To Optimization of Your Our Members Excel Marketing Dollars MAREI members are above the MAREI sets the standard for real crowd. They enjoy a informative estate investor networking and newsletter, blog, and social me- education, drawing the type of dia experience. They connect, client you want to do business ask questions, and share oppor- with. Our meetings and online tunities through the Member’s presence gathers targets the Message Board. And they save qualified leads your business $100 using the many member needs. But there is only one way discounts. to get in front of them . . become a Business Member today! $99.00 / year $499.00 / year Additional Member $50 Includes Advertising INVESTOR BUSINESS MEMBERSHIP MEMBERSHIP See the Membership Benefits tab under Membership See the Business Benefits tab under Membership on on our web site at www.MAREInet.com for more our website at www.MAREInet.com for more info or info and look for our orientation webinar on the call the office at 913-815-0111 . calendar of events.