RE N E W S

INVESTMENT

NEWSLETTER FOR
MID-AMERICA ASSOCIATION OF
REAL ESTATE INVESTORS

March 2016

PILLARS OF
BUILDING WEALTH
from Dave Van Horn

ReCapitalize

PLUS

Timelines

Elite Start
Real Estate
Investor
Training 2016

On a Note Invesment

When rehabbing houses to flip.

Important Rental Protection!

SUCCESS

THE FIVE PILLARS OF

BUILDING WEALTH
by Dave Van Horn
Photos from Canva.com

As an investor, like many of you reading

this, I always have plenty of irons in the
fire. Sure I do notes and invest in hard
Real Estate, but I also utilize things like
insurance contracts as well as own and
run several businesses. The one thing I
recommend for all investors or
potential investors is not to simply
invest in any one of these avenues I
listed above but to invest in ones self.
One of my recent projects has been the
formation of an accredited investor
group called Strategic Investor Alliance
(SIA). Now like my note business that
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MAREI.ORG

originated with a focus on 2nd liens (a

marketplace that was barely in existence when
we began), I helped to start SIA because a group
that my fellow board members and I envisioned
didnt exist. By that I mean a group of likeminded individuals interested in one thing the
pursuit of building and preserving wealth.
Now, although thats a broad topic, we try to
tackle it with focus towards different aspects
and strategies at each bi-monthly meeting and
at our annual one-day event. For example, last
month we dedicated our entire meeting to The
Seven Stages of Retirement. The idea behind
the group is to not only to enrich others with
what you know but to also build credible

more isn't
always the best
path to building
wealth

relationships with those who know investment,

tax, and estate planning strategies that you may
not even be aware.
To really preserve wealth, one needs to have
wealth so part of our groups focus and my main
goal as an educator is to teach how to build
wealth. As an active investor and business
owner, I spent much of my career in
accumulation mode finding the next property,

SUCCESS

the next note deal, always moving and

accumulating more and more investments.
Now as Ive become more passive and started
planning my future as I get closer to
retirement age, Ive come to realize that
more isnt always the best path toward
building wealth. Ive found there are really
five ways to create wealth using synergies
between two or more of the following ways is
what I think is the key to exponentially do so.
#1. Real Estate
Obviously, real estate is the cornerstone for
passive income and wealth building. Between
the tax advantages and write-offs, as well as
the depreciation and appreciation, it has
some investing characteristics that are
second to none. Now, how we build this pillar
in our portfolio of passive income may vary
based on our strategy.
For example, some types of real estate are
easier to manage than others (e.g. Garages
may be easier to manage than houses,
commercial real estate may be easier than
residential, etc). Real estate is also the easiest
of asset classes to leverage. Its easier to
borrow money for real estate than it is for a
business or paper assets.
Now there are many out there who are
understandably conservative with their
properties, paying off their real estate so as
to have little to no debt, especially by
retirement. Personally, as long as my real
estate has positive cash flow and I have
earned income, the debt doesnt really
bother me especially if Im re-leveraging my
properties to purchase other types of
investments with equally favorable returns.
Is owning fewer properties that are all paid
off better than owning a lot more homes that
are carrying debt in retirement? The answer
is, it depends. Risk tolerance, comfort level,
and the amount of passivity you want in your
investment career really are the things that
dictate that answer.
#2. Insurance Contracts
Now, insurance contracts are often
overlooked, but theyre a valuable tool when
trying to build and protect your wealth.

MARCH 2016

Although there are many different types of

insurance, as well as varying strategies
depending on how youre trying to protect
loss of income or utilize contracts for
retirement income or legacy planning. It
rarely can ever lose money, since it has a
guaranteed yield regardless of the market,
and it throws off tax-free retirement
income, as you are able to access the cash
value through loans. Keep in mind, these
are long-term investment vehicles, but they
are very safe and predictable.
Can you beat the yield elsewhere?
Absolutely, which is why it is only one of the
pillars.
Two other nice features of insurance
contracts are that they have built-in asset
protection, and money borrowed out
doesnt count as income when youre filing
out a tax-return, applying for social
security, etc.
#3. Notes
Now Im certainly partial to notes because
they are my business but I can you tell you
why, its really because there are very few
investments like it. Notes are usually
purchased at a discount, and they tend to
offer a similar net yield to Real Estate and
are backed by collateral (actual properties).
With notes, your money can start to work
as hard as or harder than you do.
For example, sometimes a note bought at a
discount, due to partial equity in the
property backing it, could suddenly become
more valuable if equity were to come back
into the market place. Many times, a note
purchased at a discount can be sold a few
years later for almost the same asking price
that its currently at today, either due to the
bulk of the monthly payment being mostly
interest, or due to the improved track
record of a longer pay history.
#4. IRA Accounts
Self-directed IRA accounts are a great
vehicle to build tax-free or tax deferred
income by retirement age. For example, I

once purchased a house for $40,000 in my

Roth IRA and flipped it for $80,000. So in
that instance I made a $40,000 profit that
was entirely tax-free. Ive also purchased
many notes in my IRA account, and besides
the tax-free passive income, theres nothing
like the high yield when cashed out with an
early payoff.
#5 Business Equity
Business Equity can be a fifth pillar for
some, but for business owners it may not
always be all that passive. Many business
owners, including myself in the past, are
guilty of working in the business instead of
on the business. Businesses can also the
toughest asset class to own, develop, and
maintain depending on the type of industry
your business is in. But its also important to
remember that they are also the asset class
that has the potential to offer the highest of
all returns on investments, in fact it is the
investment of choice for nearly all of the
worlds wealthiest people. So creating a
saleable business or one that can continue
on by employees or family generating
passive income is usually the end goal by
retirement age. And in the meantime, one of
the best wealth building strategies is to
sweep some of the money out of your every
day business and into the other pillars
above.
Utilizing many of these pillars, especially
synergistically, can really ramp up any one
investments revenue stream and be the
key to building true wealth. So whether you
have a day job or a business generating
income that can be put towards investing,
you can use that money to capitalize on a
mixture of any or all of the 5 pillars above.
Ideally, you could purchase real estate for
the tax breaks (on your earned income), the
notes for the little to no hassle revenue
stream that is earned passively, place some
money in some insurance contracts so as to
keep some of your capital in a safe bucket
that can pass favorably to heirs, and if any
of these strategies are done in your IRA
account, all of this builds tax free! So as you
can see, any one of these pillars is fine by
themselves, but when put together you
really can learn how to harness their
greatest attributes to build wealth.

RE INVESTMENT NEWS

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3 Ways to Quickly
Recapitalize on a
Note Investment
1. example) or through the property
(foreclosure, deed in lieu, etc.).
If you decide that you want to
recapitalize sooner rather than later,
you can implement more of a velocity
model, either by selling the note,
selling a partial note, or creating a
collateral assignment of note and
mortgage.
1. Selling or Flipping the Note
An asset can always be sold, whether
re-performing or non-performing.
Note buyers can be found almost
anywhere. Some of the best places to
start are local REIA meetings or real
estate and note meetup groups. You
can even try websites like FCI
Exchange, Loan MLS, Bigger Pockets,
and a variety of LinkedIn groups.

becomes, how quickly can I

make money?

Of course, the best buyer is the one

who is already a customer, so some
of the best ways to proactively
continue sales could be to provide
reps and warrants with notes to give
buyers more security, as well as
offering them quality collateral and
follow-up service.

Oftentimes, if you buy real

estate notes that are in default,
the money is made either by
exiting through the borrower
(like by using a modified
payment plan or short sale for

Another option is to flip the note,

essentially buying it for one price and
selling it for another. For example, if
you went through the work of
purchasing a note wholesale, you can
sell it at retail value either as is or

Photograph by GrapicStock.com

From the Dave Van Horn

Recently, a fellow investor asked
me how they could make money
by investing in notes. This is a
very broad question, and the
truth is that there are an infinite
number of ways to make money
by investing in notes, just as there
are by investing real estate.
So, the real question then
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MAREI.ORG

you can modify it.

If you purchased a nonperforming note and you are able
to get it re-performing, as the
asset brings in payments each
month it becomes more and more
valuable. So, you could sell it for a
higher price based on the length
of pay history.
2. Selling a Partial Note
Another strategy to recapitalize is
that you, as the note owner, could
sell part of the note to
another investor.
For example, if you had purchased
a 15 year note, you could sell the
first 10 years of monthly payments
to an investor. By doing so, you
could reclaim your initial note
investment, while still remaining
entitled to the last 5 years of
payments. You would have less
risk in that particular note deal.
And, you are free to re-invest your
capital into another opportunity.

3. Collateral Assignment of
Note and Mortgage
Lastly, theres the unique
strategy of utilizing a Collateral
Assignment of Note and
Mortgage. This would
enable you (the note owner) to
borrow money from an
investor and use the promissory
note as collateral.
This is really where the velocity
factor comes in, especially if you
use the borrowed capital to
purchase more notes, again
utilizing leverage, creating
exponential growth. Also, its a
great way to recapitalize taxfree because its a loan, just like
a real estate investor
refinancing a rental property.
So, if youre looking to
recapitalize quickly on a note
investment, or if youre at all
concerned about liquidity, one
of these strategies could help.

Dave Van Horn serves as President of

PPR, a Note Company, managing several
funds that buy, sell, and hold residential
mortgages nationwide. Daves expertise
is derived from over 30 years of
residential and commercial real estate
experience as a licensed realtor and a
previously licensed life and annuity
insurance agent, before moving on to
raising capital for commercial real estate
deals. He is an avid investor in notes and
mortgages, as well as a long-term holder
of multiple investment properties. In
addition to facilitating education through
PPR Note Academy,
Dave sits on the board of Strategic
Investor Alliance (SIA) as well as traveling
to many RE meetings and networking
events as a national speaker on
delinquent notes and mortgages.

PPRNoteCo.com

RE INVESTMENT NEWS

ELITESTART

ONE YEAR OF LOCAL

REAL ESTATE
INVESTOR COACHING
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.
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.

SUMMARY OF
TRAINING
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.
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.

Deal Analysis
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.

Register Today >

MAREI.org/EliteStart

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.

MAREI.ORG/CALENDAR

THE C A LEND A R
FROM OTHER GROUPS>

MARCH

LIFEONAIRE 3 DAY
GET A LIFE RETREAT

WINVESTORS
Wednesday Mornings at 9
Lucky Brewgrill
5401 Johnson Drive, Mission
Hosted by Brian & Michelle
Winberry,

Three Day Lifeonaire Retreat - join us to and

learn how to take your life back.
March 3rd, 4th & 5th
Kansas City - must be preregistered

1ST
SATURDAYS
Networking Coffee 1st Saturdays
February 6th
10 am to 12 pm
Panera Bread
7070 Martway, Mission
Hosted by Jim & Beth Kasper

1ST TUESDAYS
Whiteboard Discussion with
JD Asbell
March 1st - 9 am
Crossroads Investment Lending
7759 Shawnee Mission Pkwy
Overland Park, KS
Hosted by JD Asbell

WIRE
Women in Real Estate.
Networking & Support
Join us at: February 23rd, 7pm
Panera Bread
10606 Shawnee Mission Pkwy
Shawnee Mission, KS
Hosted by Polly Jones

MEETING >

DAVE VAN HORN

If you dont inherit money, marry
money or win the lottery, you
usually become wealthy by
becoming a high income earner,
or you become wealthy through
the acquisition of assets or some
combination of all the above."
Join us to learn how Notes can fit
into your wealth plan.
"

Tuesday March 8th

6 pm to 9 pm
Holiday Inn - Top Floor
8787 Reeder Road, Overland Park
Pre-Register at www.MAREI.org
Special Bonus for all attendees "Intro to Note Investing"

RE INVESTMENT NEWS

BUY AND HOLD

Important
Rental
Protection

What you learn goes something like

this: your tenant has two dogs, a
small one a large one. Yesterday, the
smaller dog found his way to the
home of Rose, the elderly woman
who lives next door to your property.
She loves dogs, and wants to be a
good neighbor, so she decides to
return the dog to its home. After
scooping up the animal and knocking
on the door, she is surprised when
the tenants daughter opens the door
and the larger dog comes barreling
out knocking Rose to the ground
and breaking a leg in the process.
While you process all of this, the
question coming from the attorney is
simple: Who are you insured with,
and how much is your liability limit?

Addalittlebitofbodytext

If you had the foresight to demand

every tenant obtain a renters liability
policy before theyve moved in, and
show you proof that theyve done so,
the answer is simple: Call the tenant
and ask him!

FromInvestigativeScreening&Consulting
PhotosfromCanva.com

A strong lease and a thorough

investigative background check,
performed and verified by a live
person, are your first and best
lines of defense against losses as
an investment property owner.
But even with those safeguards
in place, there may be an
important layer of protection
that youre missing

10

MAREI.ORG

To understand why, imagine for

a moment that youre sitting at
your desk. The phone rings, and
when you answer the voice on
the other end of the line is
introduced as a lawyer. You can
already assume this isnt going
to be a pleasant conversation,
so you simply close your eyes
and wonder, What the heck is
happening now

Having your tenants buy their liability

policies grants you protection from
many incidents that can occur on or
in your property. In fact, this may be
your only way to protect yourself,
your assets, and your investments
against the unforeseen. Its human
nature to think these kinds of things
wont happen to me, but why take
the chance? Incidents like the one Ive
described in this article take place
every day. The one thing they all have
in common is that no one saw them
coming.
Additionally, the policy your renters
take out can also help protect you
against tenant-caused damage. The
losses from candles, smoking,
unattended cooking fires, and other
calamities can be bigger than you
think. If your tenant has a renters
insurance policy, and are liable for
damage to your property, then you

as the landlord have the ability to

recover those damages (and outof-pocket expenses, including
deductibles) from their insurance
company.
There are many, many good
reasons to insist that your renters
take out insurance policies, and no
good reasons why they shouldnt.
Thats especially true when you
consider that such a requirement
costs you nothing, and is incredibly
inexpensive for your tenants.
Through our partners at Real
Protect, ISC is able to offer tenant
liability policies for under five
dollars per month. If your tenants
want to add protection for their
own personal property, they can
sign up for that coverage for small
additional charge. Best of all,
having tenants register through our
portal takes less than a minute, and
requires nothing from you so long
as you already have your property
set up in our system. You will even
be notified in the event that your
tenant tries to cancel their policy
for any reason.
You cant ever predict what kinds of
crazy things might happen in the
future, but you can take the steps
to be protected against the
unforeseen. Insist that everyone
who rents from you take out a
liability policy at a minimum. Then,
when the phone rings and its a
lawyer you werent expecting to
hear from, youll know youre
protected.
For specific questions on renters
insurance offered by ISC, call us
today at 480-305-1350.

RE INVESTMENT NEWS

11

REHABBING

Timelines
When you are rehabbing houses to flip, you need
to be aware of several time lines.
Yes your order might be a bit
different and you might rearrange
a bit due to weather.
Next is list it for sale, right and then
you have a whole new set of
timelines.

by Kim Tucker
When you set out to buy a property, renovate that property and then sell
it there are quite a few things you need to be aware as you plan your
timelines.
Of course you are going to set down and write out your checklist of
1) Secure the Property, Order Dumpsters and Switch Utilities
2) Order all items that take time to arrive
3) Clean out the house and Start Demo
3) Replace Roof and Make Sure there are no leaks.
4) Replace windows and or Siding
5) All Exterior Repairs Completed & Looking Good on the Outside
6) Replace HVAC and any system repairs
7) Interior Painting
8) Install cabinets
9) Tile Work Complete
10) Refinish Hardwood Floors
11) Install Light Fixtures & Hardware & Blinds
12) Good Construction Clean
13) Install Carpets
14) Final Clean & Punchlist
12

MAREI.ORG

1) Stage the House

2) Take Lots of Photos
3) List on MLS
4) Blitz the Internet with marketing
5) Hold an Open House
6) Get an Offer
7) Negotiate a Contract
8) Buyer Inspections
9) Buyer Appraisal
10) Go to Closing
11) Get a Check
Or at least something like the above,
however we are missing some very
key dates that you need to know
about.
First, in the State of Missouri there is
this little rule called a notice of intent
to sell. Designed to protect
contractors from not getting paid, it
requires the filing of a form stating
you are going to sell the property. So
when you sell a property that has had
major and in some cases minor
renovations, you need to have filed
this form 45 days prior to closing.
We advise that you file this form the
day you buy it and put everyone on
notice that in 45 days or more you
will be offering this home for sale.

Is there a way around this rule?

The answer of course is "It
Depends." In some cases a few
title companies may still close the
transaction for you, but require
lien waivers from every contractor
that you have in fact paid them.
It's much easier to just file the form
when you buy the property, or if
it's a property you have owned for
a while then file the form as soon
as you decide to start renovating
the property to sell.
The second major time line
involves the sale of your newly
renovated property to a buyer who
is getting FHA financing. This rule
has changed almost annually for
the past 10 years or more.
This rule was created by some
person or persons who think that
Real Estate Investors are
scamming everyone and that if we
buy a house today and then sell it
for more money, then we have to
be taking advantage of someone.

So while this rule was waived

during the downturn and no one
seemed to be able to get
financing, today if you have an
FHA buyer, you as the seller must
have owned this home for a
minimum of 90 days.
Period . . . but that is NOT the end
of the story.
Further if you have owned for less
than 6 months, you can sell the
property to your FHA financed
buyer, however as we assume you
are buying a house to renovate
and sell for more, you will
probably be required to pony up
for a 2nd appraisal.
This second appraisal is usually
required if you are selling the
house for 100% higher than what
you paid. For example, you buy a
house for $40,000 and you invest
$20,000 in repairs and are now
selling it for $80,000. You have
too much of profit to be
believable, so you will need to pay
for a 2nd appraisal.

Your buyer will pay for the first

appraisal, and at closing the second
appraisal will be a closing cost for
you. So figure this into your rehab
costs from the start.
You may also be required to provide
receipts showing all the repairs you
made to increase the value of the
home, so be sure to get those and
save them for a report to show
either the lender or the appraiser.
Also be prepared for more repairs as
usually once the buyer has an
inspection, the lender is not going to
approve the loan until you as the
seller can prove that all of those
items called out in the inspection
have been repaired. For this reason
alone, just plan on fixing everything
from the start so you don't have
delays on down the road at the final
closing.
You have several options when you
are dealing with your resale. The first
is to make note on your listing and
marketing that in the first 90 days,
you will not be able to finance any
buyer using FHA financing.
Specifically note the buyer will need
conventional financing and then
once you hit day 91, you can then
open it up to buyers using FHA.
Next, once you have a buyer, be it
FHA, VA or conventional a nice
phone call to the loan officer and the
buyer's agent, plus probably a
couple of follow up emails to make
sure everyone knows how long you
have owned the property and the
need to having 2 appraisals. Some
lenders wait till the 1st one comes
back to order the 2nd, and other
lenders totally space it off until the
day before closing and their
underwriter stops the closing asking
for the 2nd appraisal. You make the
big bucks, so make sure your lender
knows what's going on so you have
no delays in closing.

RE INVESTMENT NEWS

13

DIRECTORY

AZURE CARPET CLEANING

BUSINESS
ASSOCIATES
Find out more about each of these associates by visiting
their website.
Or go to MAREI.org and click on Business Directory.

A Foreclosure Solutions Group

Danny Hammond
www.Fighting-Foreclosure.com
816-985-4950

BRIDGE MANAGEMENT

A Full Service Title Company

David Green
www.AccurateTitleCo.com
913-338-0100

A Turn Key Real Estate Experience

Nathan Brooks
www.BridgeEquity.com
913-695-8213

ALPHA TITLE

CONTINENTAL TITLE

Full Service Title Company

Patsy Archer
www.AlphaTitleLLC.net
913-498-8999

A Full Service TitleCompany

Sharon Bower
www.CTitle.com
913-338-3232

APIA

CROSSROADS INVESTMENT LENDING

Asset Protection Insurance Agency

Lindsay Griffin
www.APIAProtects.com
877-752-2742

Investor Lending
Britton Asbell and BarakTschirhart
www.KCLend.com
913-766-2900

Luxury Waterfront Property Investment

Brad Reddick
www.AzureWaterfront.com
800-240-3606

BOULEVARD CONSULTING

ACCURATE TITLE

AZURE WATERFRONT

14

Carpet, Hardwoods & More

Jerry Myers & Tiffany Krout
www.AzureCarpetCleaning.com
816-668-0258

MAREI.ORG

DIRECTORY

DISCOVER HVAC
Heating & Airconditioning
Complete System for $2785
www.DiscoverHVAC.net
816-500-2900

HOME RENTAL SERVICES

LONGHORN III INVESTMENTS

Private Lending Partner
Lawrence Hopkins
www.LonghornInvestments.com
214-420-7329

MERCHANTS MORTGAGE

Kansas City Property Management

Sandy Fisher or Paul Branton
www.Home4Rent.com
913-469-6633

Real Estate Finance Company

Susan Aubin
www.MerchantsMtg.com
720-554-9480

INVESTORS CHOICE FUNDING

PRIDE PROPERTIES

The Flexible Funding Solution

L. Scott Ficinus
www.InvestorsChoiceFunding.com
816-668-7223

Real Estate Professionals

Marcus and Matt Bray
www.PrideProperties.com
913-213-5370

JAMIESON HOME TEAM

REAL E FLOW

Realtor & Property Management

Kevin Jamieson
www.KevinJamieson.ReeceNichols.com
913-384-8331

Contact Management, Investor Websites,

Deal Flow, Marketing, Leads
FREE Trial & Discounted Fees
www.MAREI.org/RealeFlow

KC INVEST

REAL PROTECT

Investment Property Seller

Kim Tucker
www.KCInvest.com
913-735-0018

Insurance for Investors

Brought to you by National REIA
www.RealProtect.com
1-800-579-0652

KCMO HOME BUYER

REALTY RESOURCE

Property Buyer
Don Tucker
www.kcmoHomeBuyer.com
816-200-2198

Real Estate Brokerage

Scott Tucker
www.RealtyResourceKC.com
816-406-0701

RE INVESTMENT NEWS

15

memership
JOIN MAREI TODAY $99 Annually

NETWORK
CONNECT
Meet and discuss real
estate investments at our
Meetings, Training and other
Events just for the Real Estate
Investment Industry

LEARN
SHARE
Establish and Perfect your
investing techniques and
share your knowledge.

SAVE
PROTECT
Save with our money saving
discounts with industry
providers and help protect
our industry.