The RE Investment News is the newsletter for Mid-America Association of Real Estate Investors. This month funding and credit, next month rehabbing houses.
1. N E W S
Credit Resources
from Kim Tucker
N E W S L E T T E R F O R
M I D - A M E R I C A A S S O C I A T I O N O F
R E A L E S T A T E I N V E S T O R S
APRIL 2016
Elite Start
Real Estate
Investor
Training 2016
From VIP Financial
W A Y S T O F U N D
R E A L E S T A T E I N V E S T M E N T
10
PLUS
REINVESTMENT
Event Calendar
See what's coming up.
MAREI Business Directory
2. RESOURCES FOR
MONITORING CREDIT
KEEP AN EYE ON
YOUR CREDIT
Identity IQ
Credit monitoring
services allow you to
monitor the data that is
reported to each of the
3 bureaus. However,
these services do not
provide access to your
FICO score. Instead, these services usually
provide a consumer credit score. If you have
challenged credit or are in need of a
monitoring service, these are the services
you might consider..
Credit Check
Credit Check Total is an
alternative to Identity IQ.
It provides a 3 bureau
credit monitoring
service. If you have
challenged credit and
are in need of
CREDIT MONITORING: Services allow you to monitor the data that is
reported to each of the 3 bureaus. However, these services do not
provide access to your FICO score. Instead, these services usually
provide a consumer credit score. If you have challenged credit or are
in need of a monitoring service, these are the services you might
consider.
FICO CREDIT SCORES: Credit scores that are derived from the FICO
scoring model can only be obtained from FICO directly by the
consumer. If you have perfect credit or are looking to determine
which debt weapon you may qualify for, you’ll want to know your
FICO score.
FREE CREDIT REPORTS OR CONSUMER CREDIT SCORES – If you are
unsure of the standing of your report only or are unsure which of the
services above you many need, you may want to use one of these
sources first to obtain a free copy of your report. However, these
sources do not give you a true FICO score.
IDENTITY THEFT PROTECTION – Identity protection services provide
protection from and help in dealing with identity theft. These service
should be considered if you are in need of protection from identity
theft.
By VIP Financialmonitoring service to track the data as it
appears on your report, this product could
be useful. The cost is $1 for the 7-day trial
period. After the trial period, the cost is
$29.95 per month. However, the monthly
cost can be lowered.
Credit Report.com
Continue reading at next page >
Credit Report is an
alternative to Identity IQ.
It provides a 3 bureau
credit monitoring
service. If you have
challenged credit and
are in need of
monitoring service to track the data as it
appears on your report, this product could
be useful. The cost is $1 for the 7 day trial
period. After the trial period, the cost is
$19.95 per month.
VIP FINANCIAL
2 | M A R E I . O R G
3. RESOURCES FOR
MONITORING FICO
My FICO.com
My FICO is the only
resource that allows you
to pull and/or monitor
your true FICO score.
However, you may only
pull your EFX and TU
reports from this
resource. Additionally, MyFICO only allows
you to monitor the score for you EFX report.
When determining which debt weapons
you’ll qualify for, you’ll want to use this
service.
The cost for pulling your credit report and
score is $19.95 per bureau. The cost for
monitoring your Equifax score after the 10-
day free trial is $14.95 per month or
$149.95 per year.
VIP FINANCIAL
RESOURCES FOR
CREDIT REPORTS
Annual Credit
Report
Credit Karma
Credit Karma gives you
the ability to pull your
consumer credit score
for free. However, this
service does not provide
a report or an accurate
FICO score. It is merely a
tool that can be used to
obtain an approximate score for each of the
3 bureaus.
There is no cost for this service.
RESOURCES FOR
IDENTITY THEFT
LifeLock
Life Lock provides is
essentially a monitoring
service that offers help
in the event that identity
theft occurs.
The cost is $25 per .
FICO score. Instead, these services usually
provide a consumer credit score. If you have
challenged credit or are in need of a
monitoring service, these are the services
you might consider..
Identity Theft
Shield
remedies.
Available products and costs vary by state.
Normally, Identity Theft Shield costs $12.95
per month. However, the cost may vary
when combined with other products.
Annual Credit Report
gives you the ability to
pull your report only
without a score. If you
are unsure what your
credit profile looks like,
you’ll want to use this
resource first before obtaining any of the
above services.
There is no cost for this service. However,
you may only use this service once per year.
Identity Theft Shield
provides both
monitoring and legal
help with identity theft.
This service provides the
best form of identity
protection and
R E I N V E S T M E N T N E W S | 3
4. SUCCESS
TOP TEN WAYS TO FUND
REAL ESTATE INVESTMENT
by VIP Financial
Photos from
OneofthebiggestquestionsIreceive
fromnewrealestateinvestorsafterthey
getanideaofhowtheywanttoinvestis
whatisthebestwayformetofundmy
deal?
Whenstartingoutmostnewrealestate
investorswhohavethefundsmightuse
theirownfundstobuythatrental
propertyorflippropertyorwhatever,but
thenalltheirfundsaretiedupandwhen
anothergreatdealcomesalong,theyhave
topassitupbecausealltheircurrentfunds
aretiedup.
Forexample,Ihaveafriendrightnowthat
wasteamingupwithsomeoneelseandjust
whenoutonhisownforinvesting. Hefounda
greatrentalpropertyandusedhisownfundsto
purchasethispropertyandrenovate. Then
alongcomesanotherkillerdeal. Becausehis
modelistopaycash,hehastoscrambletofind
otherfundingtodothiskillerdealorpassitup.
Thenextmethodnewinvestorsusedependson
theirinvestingmodel. Thosewhoaregoingto
acquirebuyandholdrentals,usuallygotoalocal
smalltownbankandmakeadownpaymentand
purchasetherentalpropertywithamortgage.
Thisisactuallyagreatmodel,however
dependingontheinvestorscashfundsand
bankingrules,eventuallytheycan’tbuyany
4 | M A R E I . O R G
more. Thiscouldbebecausetheyrunoutof
cashforthe30%downpaymentorbecause
theyhitthelimitonthenumberofhomesabank
willmakeloansontoonepersonforinvestment
purposes.
Therearequiteafewotheroptionsthatwill
dependonthereasonforinvestingandthe
individualinvestorsresources Theyrangefrom
yourownliquidfunds,toyourownretirement
funds,yourowncredit,otherpeople’smoney,
otherpeople’screditandeventhedealitself.
ThisarticleistotakeaVERYBRIEFLOOKata
realestateinvestor'soptions.
6. ELITE START
TheDealItself: Therearealsowaysthatthe
dealitselfcouldprovidethefunding. For
examplewhenyougetintolargerapartments
orcommercialproperties,aloancanoftenbe
obtained,non-recoursemeaningtheonlything
thelendercandoiftheborrowerstopspaying
isforecloseonthehouse,andtheloanisbased
onthemeritsoftheinvestmentandthecash
flowfromtheinvestmentandnotbasedatall
ontheborrowerortheborrower’scredit.
However,whatwemostlyseewhenaDeal
fundsitselfiswhentheinvestorisbeing
creativewithahighlymotivatedanddesperate
sellerORwithasellerwhojustnolongerwants
thepropertyanddoesnotneedthecashup
front.
Forexampleifabuyandholdinvestorfindsa
rentalpropertyfromanotherinvestor,the
otherinvestormightfinancethedealforhim.
Oraretiringlandlordmightownerfinance
theirrentalpropertiestoanewperson. Ora
homeownerwhohasafreeandclearhouse,
hasalreadymovedtoFloridatoretire,wantsto
sellahouseherebutdoesnotneedthecash,
understandsinterestandhasarapportwith
theinvestorbuyer..thisownermightowner
finance. Orahomeownerwhocannolonger
affordtheirhomeandtheupkeepmightletan
investortakeovertheirmortgagepaymentson
thehome,justtogetoutfromunderthem.
Nomatterhowyougoaboutgettingyour
transactionfundedyouaregoingtowantto
takethetimetopresentyourselfandyour
transactiontomakesurethenumberswork.
Soforeachdealtaketimetonotewhyyou
wouldbeinvesting,yourstrategy,themoney
neededforpurchase,themoneyandtime
neededforrenovationsifany,themoneyand
timeneededtogetitrentedandpotential
profits. Iftherearerenovationsalsoworkouta
scopeofworkandabudget. Thenpresentyour
dealtoyourselftomakesureitworks. Then
makesureyouhavetheneededfundsor
reserves. ThenifyouaregoingtouseOPM,
youhaveafundingplantopresentthem.
accountthattheycouldcashoutformoneyfor
theirinvestment,butbecausetheyaredoing
shortterminvesting,theyopttogetalineof
creditusingtheseinvestmentfundsfor
collateralandbasicallyborrowingtheirown
moneyforafewpercentagepointsininterest
overwhateverthefundispaying. Sofor
exampletheyhave$100,000investedinaCD
atthebankpaying2%interest,theycouldgeta
lineofcreditofupto$80,000at4%fromthe
bank. Youcandothesamewithmost
brokerageaccountsaswell.
PrivatePartners: Mostnewinvestorsdonot
starthere,theyaspiretogettothispointwhere
theyinvestwithotherpeople’smoneyorcredit.
Thiscanbeassimpleasonepersonorcompany
lendingmoneytotheinvestorforaflatinterest
rate,interestandpoints(likethehardmoney
scenario),equityshareoracombinationoftwo
orallthree.
Usingprivatepartnersisalsoanentiretraining
classallbyitself,butwewillcoverjustabitright
here.
Firstaprivatepartnerissomeoneknowntothe
investor. Itcouldbeafamilymember,afriend,a
professionalacquaintanceorsomeoneyou
meetatthelocalrealestateinvestorassociation
(REIA. ) Typicallyasanewbieinvestor,youwill
havetoearnyourstripessotospeakanddoa
fewsuccessfuldealsbeforeanyonewillpartner
withyou. AndTypicallyifyouarepartnering
withsomeonefromthelocalREIAitisgoingto
costyoumorefrompointsandinterestto50%
ormoreofyourprofit,whileifyouare
partneringwithsomeoneoutsideofrealestate,
youcouldgetjustborrowforinterestonlyforas
littleas8to10%interest.
ThePrivatePartnersmayalsoborrowmoney
fromanyofthewayswehavejustmentioned
andthenlendtoyou. Orifyoumightbe
partneringonalongtermhold,theymightput
thecashdownandusetheirowncreditto
obtainalongtermloanontherentalandthe
investorfindsthedeal,rehabsthedeal,rentsit
outandthenmanagesthedealandsplitsthe
profitwiththeprivatepartner.
6 | M A R E I . O R G
Earn Up To
7% Back
On All
Purchases
Home Depot offers
up to 5% Rebate
Quarterly to Those
Registered with Home
Depot Pro Rewards.
MAREI Members can
register for an additional
2% Rebate BiAnnually
5% Rebate Varies based on total
spend in a year. 2% Rebate has a
minimum purchase of $3000 in 6
month period.
7. ONE YEAR OF LOCAL
REAL ESTATE
INVESTOR COACHING
SUMMARY OF
TRAINING
Weekly Training
Training will occur once
a week via webinar
through your own
device. Each training will
be recorded and made
available for replay.
Each training will have a structured topic to
be discussed and have time after that topic
is discussed to answer questions emailed in
by the students.
Answers to
Questions
Because real life rarely
matches a training
schedule we will have
room each week at the
end of the call for student
questions, however there
is a catch.
Local Real Estate Investor Kim Tucker and her team at KCInvest have
committed to a weekly Elite Investor Training to get the local new
investor off to the right start. Training will be held via internet each
Thursday night from 7:30 pm to approximately 9:00. You don't have
to worry about missing a webinar as each one will be recorded and
made available for replay.
Section 1: Starting with the Basics: Mistakes New Investors Make,
Types of Strategies, What is a Deal, Creative Financing, Where to Find
Deals, Buy and Hold Strategies, Wholesaling and Retailing.
Next Webinar: April 21st - Finding Deals
Section 2: What is a Deal: Where to find comparables, how to
inspect properties and estimate repairs, what to offer and a special
session on values of multi family properties.
Section 3: Finding Great Deals: MLS vs buying Directly from the
Seller, REOS and Short Sales, Marketing for Motivated Sellers and
Advanced Marketing Techniques.
Section 4: Funding all those Deals: Using Mortgages vs Private
Partners, Using Creative Financing plus IRA and 401K Investing.
Section 5: Putting those Deals Together: Talking with the Seller,
Managing Leads and Follow Up, Negotiation and Due Diligence,
Closing and the role of the Title Company.
Section 6: Exit Strategies: Building a Buyer's List, Rental: Tenants,
Management, & Budgets, Rehabbing Houses, Creative Selling,
Wholesaling and Retailing.
Section 7: Business Management: Asset Protection, Time
Management, Systems, Outsourcing, and Simple Bookkeeping.
To have your questions answered on the
call they must be emailed in at least 1 hour
prior to the call so the instructor has them
available for discussion. Student will be
given time to discuss with instructor.
Deal Analysis
Register Today >
MAREI.org/EliteStart
As a bonus, for everyone
who purchases the full
package of coaching at
$799 or $999, we will
include 1 Free Deal
Analysis.
To have a deal analyzed, you would need to
call and schedule with us a time to walk
through your deal and work through the
numbers with you. If not part of this
package, a deal analysis can be purchased
at MAREImember.com for $199 to $249.
ELITESTART
R E I N V E S T M E N T N E W S | 7
8. THE CALENDAR
Join us to learn from 3 LOCAL INVESTORS
as we interview them about REHABBING
AND RETAILING HOUSES.
May 10, 6 PM to 9:30 PM
GUESTPANEL
REHABBINGQ&A
MAY MEETINGFROM OTHER GROUPS>
How to Own Real Estate Without
Mortgages. At this meeting you
will learn to dominate the banks,
own multiple properties,
eliminate mortgages in ten years
and start with very little cash
flow.
Member's & First Time Guests No
Charge, Internet Members & all
others $25 at the door ($15 online)
DAVEVANHORN
APRIL MEETING
MAREI. ORG/ CALENDAR
1ST
SATURDAYS
NetworkingCoffee1stSaturdays
February6th
10amto12pm
PaneraBread
7070Martway, Mission
HostedbyJim& BethKasper
Tuesday April 12th
6 pm to 9 pm
Holiday Inn - Top Floor
8787 Reeder Road,
Overland Park
Pre-Register at www.MAREI.org
WINVESTORS
Wednesday Mornings at 9
Lucky Brewgrill
5401 Johnson Drive, Mission
Hosted by Brian & Michelle
Winberry,
1STTUESDAYS
WhiteboardDiscussionwith
JDAsbell
March1st- 9am
CrossroadsInvestmentLending
7759ShawneeMissionPkwy
OverlandPark, KS
HostedbyJDAsbell
8 | M A R E I . O R G
9. Access the #1 Software Platform for
Real Estate Investors and Generate
More leads, More Time, and More Money
The National Real Estate Investors Association is
pleased to announce an exciting new partnership with
Realeflow, the largest real estate investing software
company in the country. There are many benefits to
YOU, the member, including a FREE 30 Day Trial of
any version of Realeflow (Lite, Basic), a discount on
normal monthly pricing after the free trial period, and
version upgrades with more users, websites, and
leads.
LEADFLOW $49 Basic $99/ MO / MO
$7 $39 Per Month Per Month
1 NATIONWIDE Leadpipe
100 LEADS PER MONTH
from all other Lead Pipes
1 WEBSITE
DIRECT MAIL Engine
CRM
HAMMERPOINT Only
2 NATIONWIDE Leadpipe
100 LEADS PER MONTH
from all other Lead Pipes
2 WEBSITES
DIRECT MAIL Engine
CRM
ALL INVESTING TOOLS
LEADS : DIRECT MAIL : WEBSITES : QUICK ESTIMATES
COMP REPORTS : DEAL ANALYZER : MORE
HTTP://REALEFLOW.COM/REIA/MidAmerica
10. DIRECTORY
BUSINESS
ASSOCIATES
A C C U R A T E T I T L E
A Full Service Title Company
David Green
www.AccurateTitleCo.com
913-338-0100
A L P H A T I T L E
Full Service Title Company
Patsy Archer
www.AlphaTitleLLC.net
913-498-8999
A P I A
Asset Protection Insurance Agency
Lindsay Griffin
www.APIAProtects.com
877-752-2742
A Z U R E W A T E R F R O N T
Luxury Waterfront Property Investment
Brad Reddick
www.AzureWaterfront.com
800-240-3606
Find out more about each of these associates by visiting
their website.
Or go to MAREI.org and click on Business Directory.
CROSSROADS INVESTMENT LENDING
C O N T I N E N T A L T I T L E
Investor Lending
Britton Asbell and BarakTschirhart
www.KCLend.com
913-766-2900
A Full Service TitleCompany
Sharon Bower
www.CTitle.com
913-338-3232
1 0 | M A R E I . O R G
B R I D G E M A N A G E M E N T
A Turn Key Real Estate Experience
Nathan Brooks
www.BridgeEquity.com
913-695-8213
AZURE CARPET CLEANING
Carpet, Hardwoods & More
Jerry Myers & Tiffany Krout
www.AzureCarpetCleaning.com
816-668-0258
BOULEVARD CONSULTING
A Foreclosure Solutions Group
Danny Hammond
www.Fighting-Foreclosure.com
816-985-4950
D I S C O V E R H V A C
Heating & Airconditioning
Complete System for $2785
www.DiscoverHVAC.net
816-500-2900
11. DIRECTORY
INVESTORS CHOICE FUNDING
The Flexible Funding Solution
L. Scott Ficinus
www.InvestorsChoiceFunding.com
816-668-7223
J A M I E S O N H O M E T E A M
Realtor & Property Management
Kevin Jamieson
www.KevinJamieson.ReeceNichols.com
913-384-8331
K C I N V E S T
Investment Property Seller
Kim Tucker
www.KCInvest.com
913-735-0018
K C M O H O M E B U Y E R
Property Buyer
Don Tucker
www.kcmoHomeBuyer.com
816-200-2198
REAL PROTECT
Insurance for Investors
Brought to you by National REIA
www.RealProtect.com
1-800-579-0652
P R I D E P R O P E R T I E S
M E R C H A N T S M O R T G A G E
Real Estate Professionals
Marcus and Matt Bray
www.PrideProperties.com
913-213-5370
Real Estate Finance Company
Susan Aubin
www.MerchantsMtg.com
720-554-9480
H O M E R E N T A L S E R V I C E S
Kansas City Property Management
Sandy Fisher or Paul Branton
www.Home4Rent.com
913-469-6633
L O N G H O R N I I I I N V E S T M E N T S
Private Lending Partner
Lawrence Hopkins
www.LonghornInvestments.com
214-420-7329
R E I N V E S T M E N T N E W S | 1 1
REALTY RESOURCE
Real Estate Brokerage
Scott Tucker
www.RealtyResourceKC.com
816-406-0701
M I D - A T L A N T I C I R A
Self Directed IRA Services
www.MidAtlanticIRA.com
800-607-0145
G U A R A N T E E D R A T E
First Digital Mortgage
Beth Langston
www.GuaranteedRate/com/BethLangston
913-225-9323
12. memership
NETWORK
CONNECT
JOIN MAREI TODAY $99 Annually
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estate investments at our
Meetings, Training and other
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