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Newsletter January 2009

Newsletter January 2009

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Published by Kim in Kansas City
Newsletter of Mid-America Association of Real Estate Investing
Newsletter of Mid-America Association of Real Estate Investing

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Published by: Kim in Kansas City on Aug 02, 2009
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Newsletter of Mid-America Association of Real Estate Investors
January 2009
Investment News
to find buyers and help buyers find financing, Then the sub-primemortgage market popped up and it became very easy to sell ahouse because virtually anyone could get a loan with a subprimemortgage. But no more! Now we need to learn new ways if youwere not around before subprime or relearn some things that youmay have forgot.In reading the January 2009 copy of Realtor magazine fromRealtor.org I found quite a few ideas that may be of help in our business in 2009 and beyond.1. Michael J Russer suggest we learn how to effectivelyutilize social networking sites like Facebook, MySpace,LinkedIn, ActiveRain, or RealTown. Learn how to cre-ate an effective profile and then reach out and meetnew people, not to shove your real estate down their throat, but to just meet new people. Then when itcomes up, which is usually does, tellthem what you do when they ask.This was not around 5 to 10 yearsago and we will see more and moreof this in our business in 2009 andbeyond.2. Melissa DittmannTracey, talks about the problemsof selling a vacant house, fromhaving to heat and cool anempty home, not being able toinsure a home vacant for morethan 30 days, and the potentialfor vandalism when a home isunoccupied. She suggesthiring a house sitter that willpay a small fee to “rent thehouse” possibly and also takecare of utilities and lawnmaintenance. Just be sure to check out your homesitting service. A quick search on google turned upwww.HouseCarers.com as a place to start. This mightbe a service that agents may want to offer up to their clients to help them defray the cost of having vacanthomes and protect the house from vandalism.3. Robert Freeman discussed selling houses by the bus-load. An Atlanta area realtor loads up 12 buyers on abus to tour 8 to 10 houses in a particular neighborhood.These are all buyers looking in the area, but they savetime and gas by all going together on the mini bus andeducates the buyers in a much quicker fashion.
(Continued on page 10)
As I sit here today on January 1, I have to say good-bye and goodriddance to 2008. It has not been a good year for many peopleacross the real estate investing community, the country, or theworld. But it has set us up for a very good 2009 if we can figureout how to take advantage of the opportunities, with 100’s of bar-gain homes across the metro and the country.About a month ago, KCRAR (the Kansas City Regional Associa-tion of Realtors) hosted a Broker breakfast with local economistFrank Lenk, Director of Research Services for the Mid-AmericaRegional Council. He gave us a quick look at his best guess for how the economy, at least in the Kansas City area would look. Hehad 3 models. The first of which has our area seeing recoveryabout the 4
th
Quarter of 2008, which he had already thrown out.The second had the economy making a quick recovery in theearly part of 2009, which he though highly unlikely. His third thathe though was the most viable was to seeeconomic recovery start in the first and sec-ond quarters of 2009, but just a start with avery slow improvement throughout 2009 andinto 2010.So it seems we are in for a long hard road,but Kansas City does have a lot of thingsgoing for it. We don’t have an entire metroarea depending on one industry. Becausewe have such a diverse city with a very lowcost of living, many different industrieshave made the Kansas City area home.Secondly we have very mild propertyvaluation swings, so while we have seen adrop in real estate sales and price, wedidn’t see a huge up swing in both like thecoasts, so we didn’t have so far to fallwhen our prices started going down.And personally I see this as a bright spotfor the next two years: all the science industries that are looking tothe Kansas City Metro and surrounding areas as their potentialnew places to build new businesses meaning new jobs, more peo-ple, and people who need places to live.So as a Real Estate Investor, I am very glad to be in an area likeours as I think we have some of the best opportunities in our area.Just do a little research online and you will see that a lot of buyersfrom other areas agree. I am seeing buyers from California, Ari-zona, Washington, South Carolina, Florida, and many other statesfrom far away. These buyers see the opportunity here, so weshould not overlook the opportunities in our own back yard.We will need to go back to actually working to sell or rent a prop-erty, like we did when I first got into real estate. We had to work
2009 : What Might Happen
 
———— Investment News ————— 
Page 2www.MAREInet.com
MAREI
Mid-America AssociationOf Real Estate Investors
Mid-America Association of Real EstateInvestors (MAREI) is one of the largestreal estate investor associations in themid-west. MAREI members consistof full and part-time investors, beginninginvestors, real estate brokers and agents,attorneys, contractors, accountants,property managers, renovation specialists,appraisers, bankers - people who wantto enjoy the many benefits of real estate investing.MAREI was established in 2003 andpromotes networking and educationalopportunities to its membership.MAREI services members inKansas, Missouri and Nebraska.
MISSION STATEMENT
To provide education, discussion andnetworking opportunities to help realestate entrepreneurs & investors reachtheir financial goals using sound,honest business practices.
BADGE POLICY
All members of Mid-America Associationof Real Estate Investors and guestsmust wear a name badge to all GeneralMeetings. There will be no exceptions.
Mid-America Association of Real Estate InvestorsPO BOX 8685Prairie Village, KS 66208Phone: 816-523-4400Fax: 816-523-4448www.MAREInet.comInfo@MAREInet.com
INVESTMENT NEWS © 2009 by Mid-America Association of Real Estate Investors(MAREI), a Real Estate Trade Association. Published monthly by MAREI and in-cluded as benefit for our members. Quotations and reprints are permitted with fullcredit given to author, plus “The Investment News: Newsletter of Mid-America As-sociation of Real Estate Investors.Subscriptions are $59 per year or are includedwith membership.
MEMBERSHIP
Twelve month individual membership is $99, 2 Person Membership is $149. GuestFee is $25.Articles must be received by the 1st of the month two months prior to issue date tobe considered for publication. To be considered for a specific issue, it is recom-mended you contact the Editor at least three months prior to issue date. All submis-sions are at the discretion of the editor and are subject to editing.
Advertising space deadline is the 1st of the month one month prior to publica-tion. All camera-ready artwork and materials for non-camera ready ads aredue by that date. Please see www.MAREInet.com for more information.
The information contained herein is believed to be accurate; however, it is not guar-anteed or warranted in any manner and is subject to change without notice. Writers’ and speakers’ opinions are not necessarily those of MAREI. You are advised toseek professional advice.
 Mid-America Association of Real Estate Investorsis a Member of the National Real Estate Investors AssociationAnd the National Association of ResponsibleHomebuilders & Remodelers
Investment News
CODE OF ETHICSMAREI members are expected to be civic minded and willing to operate with high standards of honesty and integrity.It is our duty to conduct ourselves with the highest principles of the free enterprise system. We strive for MAREI to besynonymous with competence and fairness. As MAREI members, we hereby bind ourselves to this code of ethics:1. We shall not discriminate against any person with regard to race, color, religion, age, national origin, sex, handi-cap or familial status as defined by current Kansas, Missouri, or Nebraska law.2. We shall recognize that real estate is a service related industry.3. We shall refrain from engaging in any illegal practices, or defrauding any member, customer, or association, withthe aim of always conducting business in a professional manner.4. We shall endeavor to stay informed and updated on matters affecting housing in our communities, and adhere tolocal, state and federal laws.5. We are individually responsible for our own due diligence and continuing education. Members are expected toverify any and all assumptions regarding business decisions to prevent falling victim to fraud, misrepresentationsand illegal practices.Further, if any allegations of conduct considered detrimental to the purposes and interest of MAREI are received inwritten and signed communication to the management, we will consider the matter. Should a decision to take further action be made, a furnished copy of said allegation (s) to the accused, who shall be given adequate time to reply.Thereafter, management shall take such further action as it may deem property and in accordance to this code of ethics.
 
———— Investment News ————— 
www.MAREInet.comPage 3
They then discuss how to set up and implement a PrivateLending program in your business and what they do on adaily basis to set one up and keep it running in their business.They talk about creating your program and marketing piecesand your 30 second elevator speech, just in case you are onan elevator with Bill Gates or someone else who could be apotential lender.They talk about then taking your program and your elevator speech and talking to people you know about what you doand over the course of time, many of the people you knowwill come around to you. Courtney gave an example of afamily member she had who acted like they were broke andhad no idea how they would pay for their next meal. In thecourse of conversation one day she was talking about whatshe did in investing, how she borrowed money from privateindividuals, and the kind of return these people were gettingon their money. Her penniless family member it turns out hadsubstantial funds to lend and wanted to get in on the actionand do a deal or two with her. So don’t rule anyone out, theymay have funds available or they may know someone who
(Continued on page 12)
While working on my New Year’s Resolution to actually utilizethe treadmill in the extra bedroom for something other than adust collector, I decided it was time to kill 2 birds with onestone so to speak. I have been collecting more and more realestate training teleconference calls but have not had time tolisten to them. I also have not been able to find time to actu-ally exercise, so here’s the plan. Set aside 30 minutes 2 or 3times a week to listen to a teleconference while taking a walkon the treadmill. So won’t you join me in getting more exerciseon your own treadmill and listening to some training teleconfer-ences at the same time.On this particular day I was listening to the call in our pastTeleSeminar / Webinar Replays from Mike Moulton and Court-ney Jones. If you have not had a chance to listen to one of our teleconference calls, this might be the one you should startwith in 2009. MAREI members can log into the member areaat www.MAREInet.com to gain access to our Teleseminar Ar-chives.I was very impressed with the call as they had some greatideas for people looking for funding for their real estate invest-ing business, especially in this time of very tight lending prac-tices from traditional lending institutions. Everyone shouldtake the time to cultivate several private lenders both for shortterm loans and long term holds.Think about it! What if you had a very close friend, familymember, or business associate who had $100,000 sitting inthe bank. They did have $200,000 but when the stock markettanked, their investments went south and they pulled out at$100,000 and dropped it into the bank in a CD making 4%interest. What if you further had a great duplex that you couldbuy for $100,000 if you only had the money. You could go tothe bank to get a loan, but sorry you already have 4 loans inyour name so you can’t get any more plus as you are self em-ployed and write off all your expenses, your tax return lookspretty bad. But if you had $100,000 you could buy a greatduplex with great cash flow. What if you could get together with your friend with $100,000, they could lend it to you, se-cured by real estate, and earn 6%, 8% , 10% on their money,what ever you decide.Much better than their 4% interest, you could buy the propertyand start cash flowing now, and then in 2 or 3 years whenlending loosens up you could refinance and pay your friendback with a balloon payment. Or maybe they might be happygetting 6 to 10% interest for a full 30 years, who knows.You never know until you ask, and that is one of the things thatMike and Courtney talk about, getting over asking for money.Many people feel like they are begging for money, but they(Mike & Courtney) advise us to think more along the lines of we are helping people by telling them of an alternative place of investing their money.
Private Lending

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