The Investment News is the monthly Newsletter for Mid-America Association of Real Estate Investors. This month, buy and hold real estate investment with Stewardship Properties and Andrew Syrios. And as always build your team with our Business Directory. Also grab our Free Bonuses on Buy and Hold and if you have never attended a meeting, grab a guest pass.

1. INVESTMENT NEWS
MEETING
LOCATION
Holiday Inn & Suites
Overland Park West
8787 Reeder Road
Overland Park, KS
Top Floor
Sunset Ballroom
6pm to 9pm
Details at MAREI.org
Real Estate Investor Meeting
On February 10th, 2015, at MAREI’s Monthly Meeting, Kansas City Single
Family Experts Andrew Syrios, Phillip Syrios and Bill Syrios with Stewarship
Properties will present “ Why & How to Invest in Buy and Hold.”
Buy and Hold Way to Build True Wealth
When lying on his deathbed, John Jacob Astor, the real estate mogul and first
multi-millionaire in American history was asked what he would have done different-
ly. He said he would have bought more!
Holding real estate is greatest method yet discovered for a person of modest
means to become independently wealthy. Indeed, it is the I.D.E.A.L. investment:
I: Income (Cash Flow from Rentals)
D: Depreciation (Tax Write Offs)
E: Equity Buildup (As the principle of a mortgage is paid off)
A: Appreciation (In the long run, real estate goes up in value)
L: Leverage (Use the power of OPM, Other People’s Money)
Discover why buying and holding real state is such a powerful way to grow wealth
as well as the ends and outs of how to get started in buy and hold!
Tuesday’s Meeting is FREE for member’s and has a cost of $25 at the door or
$15 if you preregister on the calendar of events at MAREI.org.
Mid-America Association of Real Estate Investors Newsletter February 2015
Buying or Selling Property? MAREI members post properties on their own free website.
Properties flow through to the MAREI website where they are sent out to the Member Data-
base and the MAREI Facebook pages. If you are buying, please check our website, if you
are selling, please join and market your property
FREE BONUS!
Build Wealth through Buy and Hold
a Preview of Special Reports on
the MAREI Facebook Page:
Direct Link: MAREI.org/FB

2. Member
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Vendors
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counts
 Social Media Pages
for Members to
Connect & Market
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Watch Keeps You
Informed and
Protects Our Industry
Membership
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Mission & Strategy
We’re inundated with “Flip This House” type TV shows which interject
enough drama to keep our interest. “Hold This House” just doesn’t cut it
for spell-binding television. So fix and flip has its advantages when it
comes to reality TV but does it hold (pun intended) such advantages
when it comes to reality itself?
I’ll admit bias. Our company, Stewardship Properties, built a relative for-
tune from buy and hold which would have never happened with a fix and
flip strategy. With this bias in mind, let’s look at the relative merits of both.
The Benefits of FIX and FLIP
Cash Now: When you get good at fix and flip (and, like any endeavor, it
takes work and experience to excel) you can make 10-30% of the proper-
ties’ original cost. Putting 10-30,000 or even more into your pocket two,
three, or more times a year adds up to a pretty great income and all the
time being your own boss. If you look at this as a game of getting the best
ROI (return on cash investment dollars) flipping can produce a high ROI.
Limited Risk: As recent historical experience has reminded us, real es-
tate does not always go up. Over time real estate follows inflation but if
you are in a down cycle, flipping properties protects you from the down-
side.
Less Financing Pressure: If you can find a source of cash and you are
successful at flipping, that cash can be “re-circulated” time and again with-
out the need to look for further cash sources. This allows you to focus on
finding and flipping for the highest returns.
No Property Management: There are no tenants, termites or toilets and
thus no need to find competent property management (no small task) or
to build a competent property management company yourself (no small
task). Management, maintenance and tenant-landlord legal issues can eat
up lots of time, energy and profits if not done well. Even when done well
you can sometimes end up with high turnover costs and unpaid damage
or rent. Again, consistent expert property management is no small feat,
but the only way to reliably extract income from your rental assets.
Focus on Good Deals: Flippers know that margins can be thin and that
any number of “soft costs” can eat into their profits. This often forces them
to get the best deals possible. So they are always looking for motivated
sellers, negotiating the best possible deal, keeping their hold times to a
minimum in order to maximize their profits and move on to the next flip.
The pressure is on from start to finish… and that’s a good thing.
Breadth of Market: There are higher-end homes and expensive locations
(e.g. San Francisco or Honolulu) that will never pencil for a buy and hold
strategy but conceivably you can flip any property in any location for a
WHY (& HOW)
YOU SHOULD BUY AND HOLD
REAL ESTATE
TUESDAY Feb 10th —

3. profit. Buy and hold investors who purchase such lower ROI properties may do so because they have plans for a
large value add or because they believe the property/location has a significant upside in appreciation value. But
normally higher end markets are not as conducive to a buy and hold strategy as they are to fix and flip.
The Benefits of BUY and HOLD
Holding properties has produced untold millionaires and billionaires. Real estate investment is flat out the aver-
age person’s best shot at creating serious wealth. If you flip you can make a profit, if you hold, you can make a
fortune. As such holding real estate is the…
I-D-E-A-L investment.
I-ncome: Residual income amounts to positive cash flow on automatic pilot, whether you put time into
hustling for the next deal or lying somewhere on a beach. This is the goal of the buy and hold strategy, to provide
you with a reliable stream of income that is not contingent on working. The challenge is to keep financing proper-
ties at 100% (or nearly 100%) and manage them so that the rental income exceeds the expenses. Obviously the
more properties producing positive cash flow in your portfolio, the greater your monthly income becomes. There
are many real estate buy/hold investors who would never have to work another day in their lives if they choose
not to.
D-epreciation: One of the cons of flipping is that it produces taxable income at ordinary rates whereas
holding can allow you to have an income via positive cash flow and yet show a tax loss from depreciation. When
a property is sold, its depreciation must be recaptured and then incur capital gains tax (often at a lower rate than
ordinary income). To avoid any such tax consequence, properties may be sold via a 1031 exchange or better,
yet, kept for a lifetime of wealth creation and passed on to heirs who receive them as if they have not been de-
preciated at all (at zero tax basis). Federal inheritance tax law allows five million dollars (or five million from each
spouse via a trust) to freely pass on to heirs. (State laws vary.)
Additionally, any time you refinance your properties, the capital you receive is a loan so those funds are not taxa-
ble at the time of receiving. Refinancing also can allow for a very high ROI or even an infinite ROI when all down
payment funds are received back in the refinance. Refinance can, in effect, leverage the leverage!
E-quity Build-Up: Unless the mortgage is interest-only, each payment made on the loan cuts down the principal
using rent to pay off the mortgage. Amortization tables are a thing of beauty to a buy and hold investor because
each and every month they get closer to owning their property debt-free. And if they chose to refinance along the
way, well, go back and read the previous paragraph! So, if you have a 120,000 property fully financed at 5.5%
interested over 30 years you would have paid off 9,047 in 5 years and 20,951 in 10 years.
A-ppreciation: If you look back in history, the real estate market has appreciated at a rate similar
to inflation which is calculated at 3.4% over the last 93 years and 2.5% over the last 10 years.
(CLICK HERE.) If we see a 3% appreciation rate going forward, a 120,000 property will be worth
139,113 in five years and 161,270 in ten years. Below is a map that shows appreciation state-by-
state since 1975. For more specifics on it, CLICK HERE.
(Continued on page 4)
INTRODUCING

4. Just taking equity build-up and appreciation on our hypothetical 120,000 property you have realized a gain of
28,160 in five years and 62,221 in ten years. Yes, the property required management over that period of time
and you had to put in some capital improvements (like a new roof/water heater/exterior paint job/etc.) but you
have also experienced a 6,222 per year gain over a ten year period of time as well.
L-everage: The reason that real estate is the only likely investment option that can make a person of average
means wealthy is because of the last word in I-D-E-A-L: leverage. When you use only a small portion of your
own funds: 25%, 15%, 5% or even less and you finance (use other people’s money) the remainder of your pur-
chase/upgrade, you have put in a relatively small percentage of your own capital (0-25%) and yet realized
100% of the profits and benefits. Those benefits—
I-income from positive cash flow,
D-epreciation from tax benefits,
E-quity Build-Up from mortgage pay off,
A-ppreciation over time, combined with the
L-everage of using other people’s money
—will substantially multiply your return and, over time, MAKE YOU WEALTHY!
We are buy and hold investors because we’ve found the way to overcome the challenges and to realize
the benefits… on a daily basis.
Question: Why would you EVER sell any property if
1) it cash flows,
2) you don’t need the money, and
3) it is well-managed?
Stewardship Properties has two objectives: CREATE WEALTH and OPPORTUNITIES.
To do this we look to form dynamic partnerships, creating win/win situations with our private and bank
lending partners in order to address the challenges of a buy/hold strategy so we can realize its bene-
fits. Please Visit our Website at StewardshipProperties.com

5. INTRODUCING
Bill Syrios began real estate investing in Portland, Oregon in 1980. Be-tween 1980 and 1986 he bought,
rehabbed and sold four houses. In 1989, Bill moved to Eugene and formed Stewardship Properties with a fo-
cus on buying, renovating and managing campus rental properties around the University of Oregon. He found
this niche to be a prime, value-add market that produced high rental income. In 1992 he moved into full-time
real estate investment and now owns 300 houses and apartment units in Oregon.
During the summers of 2005 and 2006 Bill put on an internship for 16 students from the University of Oregon
and Oregon State University who became involved in every aspect of his company: negotiating with sellers,
purchasing properties, overseeing rehab, property management, etc. His intention was to find the very best of
this group to join him as full-time real estate investors and, in 2007, he formed two partnerships that included
five of those students. During 2007-2010 these two partnerships flipped nearly 200 houses, most of which
were short sales and foreclosures in Eugene, Salem and Portland.
In 2009 Bill turned his attention to the Midwest and began purchasing properties there including apartment
complexes in Kansas City and Dallas. In January 2011 his son Andrew, and later in September 2011 his son
Phillip, moved to Kansas City to focus on buying, renovating and man-aging high cash-flow properties with a
buy and hold strategy. The company in Kansas City, Stewardship Investments, currently owns 185 houses,
duplexes and apartment units. He also, has a partner in Dallas, Texas, Greg Whitney. Together they have
purchased and renovated two multi-family complexes in the Dallas area that total 76 units.
Andrew Syrios began working as a real estate investor in 2005. He graduated from the University of
Oregon’s college of business in 2006 and became a full-time real estate investment partner with Bill and oth-
ers in 2007. Later, in 2011, he moved to Kansas City and headed up a new operation for Stewardship fo-
cused on purchasing, renovating and managing residential properties. He has extensive experience in evalu-
ating properties, negotiating with sellers, overseeing property rehab and working with real estate finance.
Phillip Syrios graduated from the University of Oregon’s business school in 2010. After a brief stint as
a professional poker player, he joined Andrew in September of 2011 in Kansas City. His focus has been to
oversee property management and build systems to help Stewardship’s office team run efficiently and effec-
tively.
CONNECT IN PERSON
 Office: 7215 Troost, Kansas City, MO
64131
 Phone: 816-333-RENT (7368)
 Bill: 541-221-4242
CONNECT ONLINE
 StewardshipProperties.com
 333Rent.com
 TheGoodStewards.com
 On Facebook & LinkedIn

6. Regular Pricing: $49 for member, plus $20 for guest. $69 for non-member, plus $20 for guest.
Special Price till the 11th: $29 for member, plus $10 for guest. $49 for non-member, plus $20 for guest
Add $99 for Annual Membership for 1 or $149 for Annual Membership for two. Total: _______________
Name: _____________________________ Second Person Name: ________________________________
Email: _____________________________ Second Person Email: _________________________________
Phone: _____________________________ Secondary Phone: ____________________________________
Address: __________________________________________________________________________________
Paid by Check: #__________ Paid by Credit Card: #_____________________________________________
Expire Date: __________ Security Code: ______________
Signature: _______________________________ Or register Online at MAREI.org or Phone at 913-815-01114
Saturday Feb 21st 8:30 to 4:30, Lunch Included, Career Education Systems, Top Floor Ward Pkwy, 8600 Ward Parkway, Kansas City MO
There has never been a better way yet discovered to be-
come independently wealthy than buying and holding real
estate. But looking at it from the outside can quickly be-
come overwhelming. After all, there are a lot of moving
parts that all have to fit together.
We will break down and fit the many pieces together. An-
swering questions about the four main areas of buy and
hold such as:
Acquisition:
 How to find and purchase real estate at a discount?
 What are the differences between looking at a property
to flip and looking at a property to hold?
 What different things should I look for in houses and
multifamily?
Rehab:
 How do you budget a rehab project?
 Should I hire contractors, employees or do the work
myself?
 How do I make sure a project stays on course?
Finance:
 What options are available for financing buy and hold
 How can I get into buy and hold properties for zero or
close to zero down?
 How can I make a property cash flow with a private
loan on it?
 Where should I look for private money?
Management:
 Should I hire a management company or manage my-
self?
 How do I deal with maintenance?
 What do I screen for?
 What if a tenant doesn’t pay? Or destroys the unit? Or
threatens another tenant?
We will answer all of these questions and clear up why buy
and hold is not only the best investment, but also some-
thing that is absolutely achievable for novices and pros
alike. If you want to get started in buy and hold or want to
grow your real estate empire even more, please join us on
Saturday February 21nd
At Career Education Systems!

7. BUSINESS
directory
Service Company Contact Phone Web
Auction Company Cates Auction Staff 816-781-1134 CatesAuction.com
Contractor Building Trades Robert Massey 816-868-1817
Contractor Discover Heating & Air Curt Whitlock 816-500-2970 Discover HVAC.net
Contractor Supply Home Depot Sharon Beck 913-313-8912 HomeDepot.com
Contractor Supply Odor Universe Mike Riddle 816-718-9136 OdorUniverse.com
Contractor Supply Sherwin Williams Mike Steiner 816-589-8506 SherwinWilliams.com
Hard Money Great Plains Funding George Hersch 913-735-6605 GreatPlainsFunding.com
Hard Money Investor Choice Funding Dave Williams 303-500-7088 InvestorsChoiceFunding.com
Hard Money Kansas City Investor Funding JJ Pawlowski 816-916-4593 KCInvestorFunding.com
Hard Money Longhorn Investments Mike Friedl 913-634-6386 LonghornInvestments.com
Home Buyer kcmoHomeBuyer Don Tucker 816-200-2198 kcmoHomeBuyer.com
Insurance Asset Protection Insurance Lisa Goodner 877-752-2742 APIAProtects.com
Investor 3B Real Estate Investments Bob Hult 913-940-0992 3BREI.com
Mortgage Pulaski Bank Beth Langston 816-234-8660 PulaskiBank.com
Realty Realty Resource Staff 816-523-4400 RealtyResourceKC.com
Realty & Management Arrow Realty Candace Davis 913-956-5003 ArrowRealtyKC.com
Realty & Management Executive Asset Realty Group Jim Goodwin 816-866-1159 ExecutiveAssetRealty.com
Realty & Management Home Rental Services Kandy Meehan 913-469-6633 Home4Rent.com
Realty & Management Jamieson Home Team Kevin Jamieson 913-384-8331 JaimesonHomeTeam.com
Security COPR Security Geoff Miles 816-398-4045 COPRcage.com
Title & Escrow Accurate Title David Green 913-338-0100 AccurateTitleCo.com
Title & Escrow Alpha Title Patsy Archer 913-498-8999 AlphaTitleLLC.net
Title & Escrow Continental Title Sharon Bower 913-744-7011 CTitle.com
Next Month: Wholesaling Houses
With Vena Jones Cox
See full details on all Business Associates at MAREI.org/Business-Directory/
Mid-America Association of Real Estate Investors does not render legal, tax, economic or investment advice. All pro-
grams, properties and services are provided with the understanding that Association is not engaged in rendering legal, tax,
or other professional services. If legal, tax or other expert assistance is required, the services of a competent professional
should be sought. Everyone should complete their own due diligence!

8. Contact Us
Learn more about
Mid-America Association
of Real Estate Investors
Chapter of National REIA
Kansas City Office
8014 State Line Rd,
Suite 210
Leawood, KS 66208
(913) 815-0111
info@MAREI.org
Visit us on the web at
www.MAREI.org
A Trade Association for
Real Estate Professionals
For landlords, wholesalers, rehabbers, note sellers, multifamily investors,
exchangers or anyone else who use real estate as a way to build
wealth. We welcome full time investors as well as those just getting start-
ed or people who provide a product or service to the industry.
With something for everyone from beginner to pro!
The experienced real estate professional will find the support they need stay in-
formed of the issues and tools to take action. The new investor will find the edu-
cation they need to get started and the products, services and connections to build
profitable businesses. The product or service provider that caters to the real es-
tate industry will find active professionals who need their services. And everyone
benefits from our community, from live meetings and events to our very vibrant
social media destinations. Please join us . . . .
Member
Discounts
Home Depot 2% Rebate
Sherwin Williams Discount Card
Office Depot Max Discount Card
Rentals.com 20% Off Reg Price
ISC Tenant Screening
More . . . .
Meeting Location
MAREI Meets every 2nd Tuesday at the Holiday Inn & Suites at 8787 Reeder
Road in Overland Park, KS. Conveniently located just off 69 & I35 Highways
at 87th Street.
Meeting Agenda
6:00 pm: Networking & Vendors
6:00 pm: Announcements & Introductions
7:30 pm: Why (& how) You Should Buy & Hold with Stewardship Properties
9:30 pm: Late Night Networking in the Lounge
February Meeting on 8th Floor in Sunset Ballroom