The Investment News: October 2011

MID-AMERICA ASSOCIATION OF REAL ESTATE INVESTORS

Investment News
NETWORKING : EDUCATION : COMMUNITY October 2011

DO NOT PASS

GO!
the greatest
opportunity
to acquire wealth
our generation
may ever see!
Andy Heller
Is teaching
long term
wealth building
model
October 22nd

MAREI
Notes
Contact Information

PO Box 8685, Prairie Village KS, 66208

Phone: 913-815-0111 Fax: 816-523-4448

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.

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Of Merit 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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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 Dan Goodwin 913-642-5218 Shelda Goodwin
Meeting Ambassador Meeting Ambassador Meeting Ambassador
816-268-3849 DanGoodwin@kw.com SheldaGoodwin@kw.com

volunteers: Be sure to thank our volunteers who
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sist for a few hours in the business office, please email
info@MAREInet.com or call 913-815-0111.
Scott Tucker
Special Thanks to Marty Seiss and Melissa Wurtz for their Meeting Ambassador
STucker319@gmail.com
assistance this past month.

Investment News Page 5

m ar ei
BUSINESS MEMBERS
ADDRESSING THE NEEDS OF

Type Company Web Phone Contact

Attorney Wise / Anderson BobWiseLaw.com 816-942-5925 Bob Wise

Contractor Te-Tee Light MAREI Vendor 816-356-1870 George Bai

Insurance APIA REOIns.com 877-752-2742 Lisa Goodner

Lender Argentine Federal Savings ArgentineFed.com 913-402-1500 Ann Wilkinson

Prop Mgr Abraxas Prop Mgmt AbraxasMgmt.com 816-474-8800 Meka Cayce

Prop Mgr Jamieson Home Team JamiesonHomeTeam.com 816-503-4671 Kevin Jamieson

Prop Mgr Premier Leasing MyPremierLeasing.com 816-841-9500 Jeff Woods

Realtor Realty Resource RealtyResourceKC.com 816-523-4400 Kim Tucker

Security Devcon Security DevconSecurity.com 913-907-4942 Marian Collins

Supplier Canyon Stone Canyon-Stone.com 913-254-9301 Matt Puckett

Title Accurate Title Company AccurateTitleco.com 913-338-0100 Jackie White

Wholesale kcmoHomeBuyer kcmoHomebuyer.com 816-200-2198 Don Tucker

Real Estate Investors and Landlords depend on a well
rounded team of professionals. If you are building your
team or looking to make a trade, start your recruiting with
our Vendor Members and Business Associates. See a
complete list of suppliers and any discounts they may of-
fer to MAREI members by visiting, www.MAREInet.com.

http://mareinet.com/associates

Page 4 MAREInet.com

Contents
MAREI News
Speed Networking
In December In This Issue
MAREI Business Members 2
MAREI Meeting Staff 5
Notes from Director 6
Fraud in Real Estate 8
Real Estate: the Perfect Storm 10
Risk vs Reward: Protect Yourself as a 12
Landlord
Coalition for Sensible Housing Policy 14
Market Data: Investing Research 16
Top Tips for Landlords 20
MAREI Calendar of Events 22
Registering for MAREI Events 24
Classifieds 25
New & Renewing Members , Guests 26

Join the Conversation ‫׀‬
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KansasCityRealEstateInvesting

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groups/kcrei/

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Director’s Notes
I recently opened my mail box to find a next page. The trainers in these places might charge you
special invitation to a “Private Pre- $500 to $2000 for a home study course, maybe $1000 to
Auction Event”. “The invitation goes on $3000 for a bootcamp.
to say “smart investors are making mil-
What you need to realize is that these pitch people, who
lions from tax deed auctions, foreclosure
are bypassing your REIA group and going straight to your
flips, and pre-auction events.”
newspaper, TV, mailbox, or email in box, bypass your REIA
As I read through the invitation I can’t quite figure out what I group for a reason. If they came through the REIA group
am being invited too? Is it an pre-auction event in advance of (1) they probably would not get pass the REIA groups gate
a tax deed auction, where the speaker is going to train me on keeper because of the quality of their training and cost and
tax deed auctions. Hmm, those have already passed for (2) if they did get in to speak at your group, the REIA lead-
2011 here, so that can’t be it. They might be going to train ers would probably be telling you it was a big rip off. Myself
me, or sell me training on how to do a foreclosure flip before I have seen these pitch people offer a free 2 hour hype at a
an auction, but still when is the auction? There are no large local hotel on how easy it is to get rich. The sell you into a
auctions planned in Kansas City as those always end up in $300—$500 week-end with some books and a lot more
the Kansas City Star and in my email in box. So back to the hype on how easy it is. What I don’t get is that if it is so
invite. It also says we can make millions from attending this easy and if you can get so rich, why I need to spend an-
pre-auction events. But again I am stumped as to what this other $10,000, $20,000 or more to find out how to do it,
event is—is it how to make money or is it an auction. What why can’t I figure it out from the 3 day training I just at-
ever it is, I can go for free, it’s limited to 100 attendees, I tended and all the books and tapes they already sold me.
could win an I-pad, and it will be “eye opening.” These weekends sometimes have good material, and
sometimes don’t. But still you really need to spend another
Great, but what is it. So my next task was to check this event
$5,000, $10,000, $20,000, and more because you really
out a bit more. As we will talk about at the Tuesday Meeting
can’t get rich unless you invest money in your education.
we should check out everything before we spend, and I am
sure at this event, what ever it is, they will have a huge eye And I agree, you do need to invest in training, but why
on my credit card and check book. . . So let’s check this out spend $20,000 on something that really is basically the
and see what he is all about. same training you could buy from trainers vetted by your
REIA group for much less. It probably has a fancier pack-
So my next step was to head off to my good friend “Google”
age and comes with some highly trained sales people fol-
and see what it had to say about this event. After a few clicks
lowing up with you to tell you that you are going to be rich
I start seeing a lot of promos for this guy and others with simi-
in real estate, but you really need to spend another
lar events all across the country. Not really any positive feed-
$20,000 for this or than! To top it all off, many of these
back, but a lot of negative feedback. In fact on one webpage
pitch people don’t invest in real estate . . . Imagine that . . .
from this promoter, there is a notice that he is violating Cana-
And are just repackaging materials they bought from the
dian real estate laws by acting as a broker in a real estate
guy that spoke at your REIA last month.
transaction without a real estate license. Then I found a
blogger that described a past pre-auction event from last For example, this month MAREI has a training person com-
year. He said it really did not feature the guests speakers ing in to speak: Andy Heller. He will be offering real, valu-
promoted except via recorded video. That it was presented able training at the Saturday event and he will be selling his
by polished pitch people telling you how easy it is to get rich training course that he and his partner created. But know
in real estate and how much banks want to sell you their this, His course runs around $2000 according to his web-
houses. Now if you have a couple of hours to kill and want to site and I know he does not have a staff of phone sales
go get your free camera (and it looks like a free one in the people following up with you trying to sell you something
photo too) and a chance to win an I Pad, well great. But from else. He comes highly recommended from many REIA’s
what I am seeing you are not going to learn a whole lot and a and their members from across the country and he does in
few people are going to leave with less money in their pocket. fact invest in real estate. .

As a practicing real estate investor for almost 12 years now, I
am all for education: go buy a book, go to your local real
estate investment groups meetings and trainings, even buy a Kim Tucker
training course or a bootcamp, or check out MAREIU on the

Page 6 MAREInet.com

I U.com
www.MARE

IU.com
www.MARE


Fraud in Real Estate
Kansas City
The Kansas City Star reported on 10/4 that ―A wire fraud, and transferring funds obtained
former Lee’s Summit real estate agent will across state.
spend 20 months behind bars and must pay
The FBI found that a woman from California
more than $5.6 million in restitution for a mort-
and a man from Florida helped three people
gage fraud scheme that left banks holding bad
build false credit histories so they could obtain
loans and caused property values to plummet.‖
fraudulent loans. These were the straw buy-
The ―builder involved in the scam was sen- ers and all were sentenced for using false
tenced to 2 1/2 years in prison and ordered to numbers to artificially raise their credit scores,
pay restitution of more than $5 million for his allowing them to purchase six properties
role in the scheme including mortgage fraud, worth more than $2.7 million.

Don’t miss this event!

Monthly Meeting
October Monthly Meeting: Agenda
 Tuesday October, 2011, 6pm to 9pm 5:40 Premeeting—Market Report
 Career Education Systems, 6:00 Check in / Vendors / Networking
 FREE for members, Guests $25 at the door, $15 if you 7:00 Announcements / Q & A w/ Andy Heller
pre-register 7:30 Presentation

Page 8 MAREInet.com

Leawood Attorney pleads guilty property to see it, they are told
to participating in a conspiracy the house is not for rent and Due Diligence
to commit wire and mail fraud. they know nothing about the
Investors lent $52.5 Million to rental application.
this attorney and others through Considering a Transaction
You can search for stories
a Real Estate Ponzi scheme
about fraud in real estate and Considering doing business
where they thought they were with someone.
mortgages on the internet for
lending for legitimate real estate
hours and never run out of sto- Check them out First
development projects, but most
ries.
of the money was being kept or ————————
used to pay interest to other In an effort to educate our Check County Records for
lenders. Look up British Lend- members and guests, we have Ownership of Property
ing Program Online or BLP. invited in FBI Special Agent
Check Secretary of State Web-
Julia Jensen for her 3rd presen- site for Company Ownership
August 2010, Kansas City Kan-
tation at MAREI. Her first two
sas man sentenced to 145 Use ZabaSearch.com to match
were very informative and very
months in prison and ordered to names with phone numbers
well attended. As she has cut
pay more than $5.8 million in GOOGLE a Name
way back in her speaking en-
restitution for mortgage fraud.
gagements due to an increased See if they are on Facebook or
Plead guilty to mortgage fraud,
case load with her investiga- LinkedIn
wire fraud, money laundering,
tions, we are very lucky to have Check for people or company
and aggravated identity theft.
her join us for this meeting. WE names in CaseNet in Missouri
Conspirators obtained loans for
EXPECT A PACKED ROOM! or JocoCourts.com in KS
purchasing and refinancing
So get there early to reserve Check for licensing with State
properties by submitting fraudu-
your seat. Regulatory Boards: Realtors,
lent loan applications with false
Mortgage Brokers, Appraisers
statements, false sales con- We hope that you take away
tracts, and false appraisals by information from this presenta- Check with the State Attorney
Generals Office
unlawfully making use of the tion that will keep your name
identity of a licensed appraiser. out of the paper as a person Look on the FBI’s website to
taken in by a scam or the per- see if they have been in trouble
Scammers using Craigslist to
son going to jail for committing Don’t fill out online applications
target would be renters in an
fraud. We have seen numer- with companies or people you
Identity Theft Con. They steal don’t know.
ous people in trouble over the
another persons photos and
years with fraud schemes on Ask lots of questions and get
property information from a
both side of the scam due to answers that make sense.
house for sale to create a new
their lack of knowledge about Ask for references and check
rental ad on Craigslist with a
the situation. So we ask you to them out, don’t take them at
very attractive rent and ameni-
pay close attention, take notes, their word, especially if they use
ties. Then once a potential well known people’s names.
and if ever faced with anything
renter contacts them, they ask
you don’t understand, ask for
for them to fill out an application
help.
online. When they stop by the


Real Estate
The Perfect Storm!
Today: The “Perfect” Time to Invest even higher. The bubble burst on the stock market in
the early 2000s. Stock investment clubs closed and
By Andy Heller, Co-Founder, Regular Riches Invest-
interest in the stock market waned in response to the
ment System
declining values.
Should an investor swim or reach for a life preserver?
The end of the bull market and start of a bear market in
Just a few years ago, the number of real estate inves- the early 2000s sent many of these new stock investors
tors was growing by leaps and bounds; however, today to the sidelines, just as real estate investors attracted to
many investors that were attracted to real estate in the skyrocketing property values earlier this decade have
early part of this decade due to skyrocketing property also just recently retreated to the sidelines. As we
values have retreated to the sidelines. The market has asked above, are the retreating investors right? The
been cooling nationwide, and so it seems has the ap- answer is a resounding NO.
petite of many investors. The million dollar question is,
An astute stock market investor makes good money in
are they right? Should other investors follow their
both a bull market and a bear market. The same occurs
lead?
in the real estate market. There is a GREAT opportu-
To help answer this question, let’s look at a similar oc- nity for today’s real estate investor. Today’s investor is
currence that happened in the late 1990s in the stock unlikely to find and profit from skyrocketing prices that
market. Stocks began to appreciate rapidly in the mid dominated many real estate markets just a short time
1990s. In response, stock investment clubs popped up ago. Therefore, investors who plan only to profit from
all over the country. The increased interest in the stock property appreciation are right to retreat if that is their
market drew more attention to stocks from previously primary means to profit. But today’s market provides an
inactive and novice investors. This brought more even greater opportunity to real estate investors than
money into the stock market, which in turn drove prices years past. It is just a DIFFERENT, and very special,
investing opportunity. Large profits will not come from
only property appreciation but from other
sources.
We refer to the special opportunity that is just
starting to develop in Today’s real estate mar-
ket as a ―Perfect Storm.‖ The Perfect Storm is
the name of a movie staring George Clooney
and Mark Wahlberg that depicted the most
violent storm of our generation. This once-in-a
-generation storm occurred in the mid-1990s
and was caused by three separate and dis-
tinct weather patterns that occurred simultane-
ously. One happened a lot, two every couple
decades, and all three together was some-
thing seen once in a lifetime. This created
what was nicknamed ―The Storm of the Cen-
tury‖ or ―The Perfect Storm‖.
So what in the world does that have to do with
today’s real estate market?
Like the Perfect Storm, today we find three
things happening in this real estate market
that is the start of what is potentially a once-in-

Page 10 MAREInet.com

a-generation investing opportunity.
Three market developments that have
never occurred all at the same time: Maximize your profits in Today’s Perfect Storm
1. Record Foreclosures — With  Invest TODAY in establishing your network of realty contacts and property
foreclosures today at record num- sources.
bers and going even higher, this
in short means that the pool of  Seek a much greater investor discount upon acquisition than you would have
properties available for investors accepted a couple of years ago.
to purchase at a discount is IN-
 Secure an exit strategy that allows you to acquire cash out every now and
CREASING. Also, because many
then (such as a lease/purchase)
communities across the United
States are seeing added foreclo-  Do frequent rental analysis wherever you have rental property (i.e., don’t be
sures coming onto the market, so quick to ask for $1500 when today you might be able to get $1700 be-
this is forcing the average home- cause of the growing number of renters).
owner to also discount their home
in order to attract a buyer. Fore-  Consider locking in tenants to two, and even three, year leases (our shortest
closures are up all across the is three years). This gives you a chance to get rents up with annual in-
United States, with annual increases, and hold onto enough properties in anticipation of property values
creases of 100% in many parts of going up again (which they eventually will).
the country. In short, it is easier
today to get a huge discount on
 Seek out educational products (books, seminars, home study courses) that
teach investing strategies where the investor’s profits are not dependent
investment property that it has
solely upon property appreciation.
been in years.
2. Rising Rents — With loan stan-
dards tightening up the past given property, that same property How is this playing out today all
months, fewer people can qualify can be purchased in a softening mar- across the USA? I have been invest-
for home loans and therefore de- ket 40 percent or more below market. ing for approximately 20 years. In the
mand for rental property is in- early part of this decade, I admittedly
On the marketing end, investors who
creasing. In response to this ris- paid a bit more for properties than I
rent or lease/purchase will be able to
ing demand, landlords are able to would have liked, mainly due to the
achieve greater profits from less va-
rent their properties faster, keep intense competition due to so many
cancy periods and rising rents. For
their properties rented longer, and new investors competing for discount
those investors who try to flip can use
raise rental rates. So investors properties. Today, there are more
the huge discounts they obtained
who like to rent, lease/purchase, good opportunities to buy than I could
when they purchased their property to
or are unable to flip a property, have ever imagined just a few years
discount the property more than they
can take advantage of a rapidly ago. My world is a microcosm of the
could have a few years ago and at-
strengthening rental market. overall real estate investing market
tract an buyers quickly. If a buyer
does not purchase quickly, the inves- today. I can sum this up in 3 words:
tor can simply fall back on a rapidly Deals, Deals, Deals!
3. Less Competition — Without the
strengthening rental market and at-
attraction of profits from skyrock- Throw away the life preserver, dive in,
tract a quality tenant, and patiently
eting property values, fewer inves- and enjoy the best swimming an in-
wait for property values to head up
tors are active today. Fewer investor has had in decades.
again.
vestors means less competition
and even more opportunities for
big profits.
Andy Heller is co-author of the Fortune Magazine recommended book
How is today’s investor able to take
advantage of this Perfect ―Real Estate “Buy Low, Rent Smart, Sell High” and together with his partner, Scott
Investor’s‖ Storm? Frank, have approximately 40 years of combined real estate investing
Simple, on the purchasing end, an experience and have purchased, rented and sold approximately 100
investor today will be able to use the residential properties. For more on the Fair Lease/
increased supply of properties at a Purchase and other real estate investing tips go don’t
discount, and the lack of competition,
miss out on his workshop in Kansas City on the 22nd.
to achieve investor discounts that
were very hard to achieve before. Go to www.MAREInet.com/AndyHeller to sign up for the
Where two to three years ago an in-
event, and to register for some FREE Bonuses. Every
vestor may have been happy to se-
cure a discount of 10 percent on a person that Pre-registers for the event will receive a free
copy of Andy’s Book—Buy Even Lower.


Risk Vs Reward
Protect yourself as a Landlord
There are numerous ways to invest, but the more units setting empty any longer than is necessary,
you read and study, you will find that all routes to but you don’t want to be just inserting warm bodies
real wealth is through making a profit day in and into your properties that will flee in the night or
day out through rent payments. need to be evicted in a couple of months.
You may be a landlord and rent out houses, small The answer is to turn to tenant screening. This
multi family, apartments, or commercial proper- should not be something you learn and do it your-
ties. You might do a more advanced approach self, you want a formal process that works every
and look at lease options, contract for deed, or time and to do that you need a professional screen-
seller financing. All choices allow an investor to ing service.
make money in several ways. First when you buy While we can’t know with 100% accuracy that a
it under value, instant profit. Second, when you person will make a good tenant, but we can know
improve the property through renovations or rental with a percentage of accuracy if a person will have
increases. Third through rent income. And Fourth a higher likely hood of paying rent, not causing
trough appreciation. problems, and making you more money.
Now you may hear the old veterans talking about There are numerous screening services that you
different types of problems from tenants tearing up can turn to that do as little as a credit check, to an
their properties to not getting their rent on time. online screening, to a full blown background check.
But remember they are old veterans and are still Prices can vary greatly, but for a good screening
out there renting properties, so there must be for one person expect to pay between $25 and
something to this being a landlord or they would $35, which by the way can be an application fee
have thrown in the towel long ago. paid for by the prospective tenant. Which once
What these people know and that you need to upon a time, a burly old landlord told me was a
learn if you are new, is that whether you are a screening function in itself. If the tenant is not will-
landlord managing your own properties, or a land- ing to pay $25 to $35 per adult in the property for
lord who has hired a property manager, or you are screening, that tells you right there that they would
one of those people with a huge rental property not be a good tenant and you would not be receiv-
portfolio, you have less problems and make more ing a good report.
money when you know more about your tenant. So what should a good screening company pro-
You can learn how to spot a good property or hire vide? A lot more than a credit score as a credit
a realtor and property inspector to help you. You report is about the persons credit, but how much
can hire a contractor to do the repairs and main- does the way a person pays their visa bill have to
tain the property. You can even hire a property do with how well they will take care of your property
manager to manage the property. But to actually and pay rent and not set up a crack lab in your
learn more about your tenants, you have to find a basement.
way to screen them thoroughly and not discrimi- So be sure to look for a screening company that
nate against them at the same time. will look at all aspects of the tenant history and pro-
Risk in being a landlord is minimized by renting a vide you with:
property quickly and further keeping the good ten-
ants as long as possible. You don’t want your


 Credit History that is easy to tion. And statistically speaking, to be a step by step process ap-
read and understand so you is that enough income for the plied to each and every potential
can see what they pay and amount of rent you are charg- tenant. It needs to be objective
what they don’t. ing. and repeatable. And last you need
 Civil History and evictions from  Rental references from current to document your process and the
court records so you can see and prior residences so you objective results so you have a pa-
why they have been sued in- might find that the current land- per trail should a fair housing audit
cluding rent, damages, and lord who wants this person out or investigation come to light.
possession of property. gives you a glowing report and As we talk about formal, objective,
 Criminal History so you can see the three landlords before that and documented, all of these as-
what type of crimes they may tell you how bad they were. pects point to using a screening
have committed. The guy who Some screening companies might service to provide you the formality,
shoplifted 20 years ago might offer a risk rating factor to help you the yes and no answers, and a pa-
be ok, they guy who was con- in the process, but in the end you per trail to put in your tenant and
victed of dealing drugs or as a need to make sure you form a for- rejected application files.
sexual predator might not be. mal screening criteria you apply to One last item that you can use to
 Employment and Income Verifi- each and every potential tenant so protect yourself is rental payment
cation to make sure they do you do not find yourself in violation insurance to make sure you get
work where they say they do of any fair housing regulations. paid rent should the tenant skip
and in fact make what they re- Formal Screening Criteria means it before the lease expires or if you
ported to you on your applica- needs to be written down, it needs need to evict the tenant.

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816-436-0085


Coalition
For Sensible Housing Policy
You may have heard of Qualified Residential Mortgage Re-  For consumers, the QRM was intended to prove credit-
quirements, or QRM, which proposes rules that would in worthy borrowers access to well-underwritten products
essence require borrowers of higher risk loans to make a 10 at good prices. Although Congress intended for the
to 20% down payment. QRMs to be accessible to a broad range of borrowers,
In an effort to make sure the general public understands the regulators acknowledge that they crafted this rule
what QRM is and the drawbacks that it will cause, MAREI to make the QRM‖ a very narrow slice‖ of the market.
through it’s membership as a part of National EIA has joined Despite specific Congressional rejection of down pay-
forces with the Coalition for Sensible Housing Policy ment requirements in the QRM legislative provisions, a
(www.SensibleHousingPolicy.org) which is made up of 46 fact attested to by the QRM sponsors, the regulators
key associations across the country including: National As- have insisted upon a punitive down payment require-
sociation of Realtors, the National Association of Homebuild- ment, even when confronted with ample historical loan
ers, American Bankers Association, the Mortgage Bankers performance data that show low down payment loans
Association, the NAACP and other consumer groups, civil perform well provided the loan has been properly un-
rights groups, lender, real estate professionals, insurers and derwritten and has consumer-friendly features.
local governments. This coalition was established to combat  For the housing market, the statutory intent of the
the possible passage of the proposal by federal regulators QRM was to provide a framework for sound and re-
that would raise costs for creditworthy homebuyers, deny 25 sponsible liquidity provided by private capital that
million current homeowners the ability to refinance into lower would be broadly available to support a housing recov-
rates because they lack 25 percent equity, slow the eco- ery. However, the QRM definition in the proposed rule
nomic recovery by further stifling the housing market and will force the vast majority of both first-time and exist-
ensure a large government strangle hold of housing markets ing homeowners to face potentially significantly higher
for a very long time. interest rates, or to postpone purchases and refi-
While in the past the requirement of 10 percent to 20 per- nances.
cent down payments was very common, we have seen that
 For the structure of the housing finance market, the
well –underwritten, low down payment home loans have
QRM was intended to help shrink the government
been a significant and safe part of the mortgage finance
presence in the market, restore competition and miti-
system for decades. The proposed QRM exemption ignores
gate the potential for further consolidation of the mar-
historical data and imposes minimum down payments of 10
ket. Again, the proposed rule is likely to have the op-
to 20 percent and equity requirements for refinancing of 25
posite impact.
to 30 percent equity.
Coalition Recommendations
This would result in responsible consumers who have good
credit and seek good loan products to be forced into more Regulators should redesign a QRM that is consistent with
expensive mortgages under the new proposed rule just be- Congressional intent: encourage sound lending behavior
cause they do not have 10 to 20percent to put down. that supports a housing recovery, attract private capital and
reduce further defaults without punishing responsible bor-
These mortgages will be more expensive for consumers
rowers and lenders.
because the capital and other costs of retaining the risk will
be passed onto them, if the private lending market chooses For more information visit, www.SensibleHousingPolicy.org
to offer loans outside of the QRM standards at all. and for more information on MAREI’s Legislative Affairs go
to www.MAREInet.com and look under the Government
What are the proposed rules and their potential effects:
Tab.


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Market Data
Investing Research
In life as they say ―knowledge is power‖. The more you down compared to last year and that the inventory of exist-
know about market statistics in your given field of business ing homes is a little less than last month and about 10%
and the better able to interpret and apply the data, the better less than last year. If we look at the number of days it
business person you will be. takes to sell a house on Average, we see that in August
this was 110 days, which is just a bit better than last month,
Real Estate is no different than any business, you need to
but a little longer than it took last year. When we look at
gather data, study it and use it to plan your business. There
average sales prices, we again see a bit higher than last
are virtually 100’s of source of data for the real estate inves-
month, yet a bit lower than last year.
tor from the local MLS service, the local Real Estate Asso-
ciation, the Regional Federal Reserve Boards, the US Cen- Keep in mind that the numbers below are an overall photo
sus and others. We have just started tracking several differ- of all areas of the Kansas City Metro and all price ranges,
ent factors gleaned from all of these services and combined which can be a good snap shot. But if say for example you
them into a market data report that you will find on the Mem- are primarily concerned with first time home buyer houses
ber’s Only side of the MAREI website and that we will be between $100,000 and $200,000 in suburban Kansas City
looking at briefly at the October 11th PreMeeting from 5:40 Metro, you might want to look at raw data and factor out
to 6:00. high end homes and the 100’s of urban core, bank owned
properties that are selling for almost nothing and affecting
If you are like many real estate investors, knowing what you
the overall numbers.
are looking at is a bit tough, because if you were lucky
enough to have some sort of formal training on statistics it If you watch data like this over time you will be able to see
was a long time ago, and in many cases, you may have how rising and shrinking inventory will affect price and how
never had any training. So we are going to look at the chart quickly homes will sell.
below and see if we might be able to figure out what we are
Once you have mastered the basics of tracking your mar-
looking at. This data came from both the Hearland MLS and
ket specific to your investing needs you might want to add
KCRAR websies.
in other trends such as:
Below you will find three sets of information including Inven-
tory (how many houses are on the market), Days on Market  Employment or Unemployment Numbers more people
(the number of days properties have been formally listed for looking for jobs will create less of a demand, while a
sale), and the Average Sales Price as reported by the selling new business opening with 100’s of new jobs could
agent. It also is looking at residential properties only and create a demand in an area.
where possible breaks down New Construction Homes from  Rental Demand and Rental Rates: If there is a short-
Existing Resale Homes and then Combines the two. age of rental units, rental rates might be rising, while if
But looking at just these numbers we can see how much there are too many rentals, you might see rental rates
inventory is increasing and decreasing. Which when you go down and move in incentives go up.
are looking at just one particular point in time will not tell you
 Aging of the population, is very important to the inves-
a whole heck of a lot. But if you track it over time as we
tor because if your main population is older, you might
have shown in a spreadsheet below or in a full year chart, as
want to focus on properties for older tenants or buyers.
you will find in our Market Report, you will see trends that
Yet if you are in say a college town where you have an
can help you. So in this chart looking at August Numbers,
we see that number of new homes in inventory is going

Inventory Change Days on Market Average Sales Price
Mo/Mo Yr / Yr Mo/Mo Yr/Yr Mo/Mo Yr / Yr
Aug Invent. Change Change DOM Change Change Price Change Change
New 1312 0.46% -22.10% 307839 -0.51% 3.73%
Resale 15165 -3.46% -10.74% 146381 0.52% -3.71%
Total 16477 -3.14% -11.65% 110 -0.91% 10.0% 157372 0.32% -3.94%


unusually younger population, you may want to focus on housing for
college students or families with small children.
One chart to pay particular attention to is one that looks at numbers of accurate
homes sold by month over a several year period so you can note when
sales drop off and sales values go down. For example here in the Kansas
City metro, if you look at such a chart you will see values and sales drop Accurate Closings:
off from December to February. So as a person in the real estate busi-
ness you would need to plan for less sales and income during those Smooth, Timely, Professional.
months.
Some other great resources for real estate market trends:
Title Services Provided for:
 FSBO, Wholesale, & REO Transactions
 www.KCRAR.com
 New Construction Closings
 www.RealTrends.com  Commercial Purchases and Refinance
 www.Realtor.org  All Types of Loan Closings
 1031 Exchanges
 FHA, VA, USDA, Conventional Loans,
and Hard Money Loan Closings
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Start with MAREI
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2. Find Your Property
3. Manage your Investment
When investing in the Kansas City Metro
whether you live here or are out of state, start
your investing with Mid-America Association of
Real Estate Investors: Our members are from Property Management
all areas of the real estate industry and are
ready to help you plan your Real Estate Portfo- Section 8 Housing
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ww.MyPremierLeasing.com
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816-849500


(Continued from page 20) ments required are different in potential tenants: race, color, na-
each state, all states involve the tional heritage, religion, gender,
Stay capitalized. One of the most same general eviction process. disability, and familial status. While
serious problems small landlords The landlord or property manager that may sound simple on the sur-
face is lack of cash, as being a must serve the defaulting tenant face, consider that stating in a
landlord involves unexpected ex- with a particular notice, wait a rental listing "perfect for a single
penses. These range from tenants specified period of time, file in professional" is a violation of the
suddenly ceasing to pay their rent, court, attend a court hearing, Act (bias against familial status).
to unexpected repairs, to lawsuits, schedule a date for the actual evic- Advertising only in your church's
but the only predictable aspect to tion, and so on, and landlords are newsletter discriminates by relig-
these unexpected expenses is that well advised to understand this ion. What landlords can and
they will happen, and with some process before actually having to should use to evaluate potential
frequency. Set aside a hefty go through it, because it is ex- tenants is financial data, credit his-
amount of cash specifically for tremely expensive and takes far tories, and other background data.
rental expenses, and resist the longer than most landlords antici- Author Brian Davis is a seasoned
temptation to use it for anything pate. landlord and marketing profes-
else. Understand the Fair Housing Act sional. As Vice President of online
Understand the eviction process. and how it applies to your rental. company EZLandlordForms, Brian
Although many of us don’t wish to When advertising for a new tenant, Davis works to empower landlords
think about worse case scenarios, it is critical that landlords and prop- and property managers across the
it is important to become familiar erty managers understand and United States with valuable infor-
with the eviction process and be comply with the Fair Housing Act. mation and documents to support
ready to start the process immedi- The Fair Housing Act prohibits their work.
ately when a tenant violates the landlords from using any of the
lease. While the specific docu- following criteria when evaluating

BUILD
2011 National REIA Honors of Merit Winner

ON SUCCESS WITH

MAREI
Kansas City’s Premier Resource for Successful Real Estate Investing

JOIN NOW!  Education, Training & Support Call
 Networking for team & skill building 913-815-0111
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Top Tips
For New Landlords
Building a strong relationship with a new tenant and landlord may well be painting a rosy picture of the
protecting your real estate investment is of para- tenant in order to get rid of them.
mount importance when crafting a lease agreement. What a landlord should verify are the rental appli-
There are a multitude of considerations at this junc- cants' credit, employment/income (and historical
ture that are essential to understand. As a seasoned stability), criminal background, and eviction his-
landlord and top expert on landlord-tenant relation- tory. When landlords run these checks, not only
ships here are my top tips for new landlords as a can they determine the best rental applicant, but
helpful tool for navigating lease creation and the on- the landlord can defend against any discrimination
going considerations of managing a rental property. lawsuits by producing hard data used to choose
How to Build a Strong Lease & Relationship with Your one rental applicant over another.
Tenant Devise a Moving In and Moving Out procedure
Build an airtight lease agreement by knowing the and be sure it is clearly defined. One helpful tool is
laws that apply in your state through a state-specific a comprehensive walk-through checklist. This
lease. Each state has slightly different laws that im- document will be used for the landlord/manager to
pact a landlord-tenant relationship. Accordingly, use walk through the rental unit with the tenant and
a state-specific lease instead of a general lease to document the condition of the unit upon move-in
best protect your real estate investment. For exam- and move-out.
ple, California requires all lease agreements to in- Offer performance incentives: While most lease
clude clauses mandated by Megan's Law, and every agreements include a late fee, landlords can fur-
state has different limits on security deposits, late ther incentivize timely rent by offering a reward for
fees, etc. early rent payment, renewing for a longer term
While not an exhaustive list, other elements a lease period, and/or any other behavior you want to en-
agreement should clearly define include: Who is re- courage. Rewards can range from the simple,
sponsible for paying the utilities, which appliances such as rent discounts, to the complex, such as
are included and who is responsible for maintaining point systems where tenants earn points and ex-
them, whether the lease auto-renews and for what change them for rebates, gift cards, updates to the
term, details surrounding fees and deposits, and rental unit, etc.
whether is there an option to purchase - and if so Establish a relationship with at least two good
what are the terms? contractors. Landlords and property managers
Know your tenant by thoroughly screening each pro- need at the very least a licensed contractor who
spective renter to avoid problems down the road. can handle large jobs, and an inexpensive handy-
This can be accomplished by a few simple steps. man who can affordably fix minor issues. Don't
First, conduct a professional credit check to learn an wait until your tenants' heating system stops work-
applicant’s credit history and if they have been fis- ing in January, or the roof collapses, as the time
cally responsible in the past. Bad credit can serve as lost in trying to find a contractor by that time will
a red flag and you may wish to avoid such tenants. cost real money. Instead form these relationships
Next, ask for references from past landlords. How- before you actually need them, and then you will
ever, be on notice that while references from prior simply be able to make a phone call and have the
landlords are worth a quick phone call, they aren't problem resolved immediately.
particularly telling, because tenants can give fake
names and numbers, and even if they don't, the old (Continued on page 18)


More Information . . .
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info@canyon-stone.com


Oct 1st Networking Independence / Blue Springs: Panera Bread
40 Hwy & 291 4pm to 6pm: Debra Felderhoff

Oct 2nd Networking Lee’s Summit: Panera Bread on Chipman
Road in Lees Summit: Debra Felderhoff

CALENDAR Details, Times, Locations, Cost & Registration at www.MAREInet.com
Oct 5th

Oct 6th
Networking

Training
Weekly Wednesdays: 103rd & State Line 9
am to 11 am : Michelle Winberry

CESKC.com Creating Welath - 6pm-9pm,1
Credit PHP, 3 Hrs Realtor Contin. Ed

Oct 8th Networking Independence / Blue Springs: Panera Bread

Oct 9th Networking Lee’s Summit: Panera Bread on Chipman

Oct 10th Deadline Deadline to Reserve a Vendor Table for
Tuesday Meeting by Noon

Oct 11th Monthly Monthly Meeting: Career Education Systems
Meeting South East side of Ward Parkway 6pm-9pm

Oct 12th Networking Weekly Wednesdays: 103rd & State Line 9

Oct 12th Networking Commercial Sub Group: 103rd 7 State Line
5:30 to 7:30 : Larry Prato / Spencer Cullor



Oct 19th Education Crime Free: Fair Housing Seminar & Prem-
ise Liability Seminar www.KCCrimeFree.com


Oct 19th Deadline Last Day for Early Bird Pricing for the Buy
Low, Rent Smart, Sell High Seminar

Oct 22nd Education Buy Low, Rent Smart, Sell High Seminar—All
Day Training Workshop with Andy Heller

Oct 22nd Networking Independence / Blue Springs: Panera Bread


Oct 23rd Networking Lee’s Summit: Panera Bread on Chipman

Networking & Education

Oct 24th Training CESKC.com 1031 Exchanges - 1pm –4pm 1
PHP, 3 Hours Realtor C E

Oct 25th Training CESKC.com Commercial Leasing - 9am-
12pm1 Credit PHP, 3 Hrs Realtor Contin. Ed

Oct 25th Training CESKC.com Commercial Lawsuits - 1pm-

Details, Times, Locations, Cost & Registration at www.MAREInet.com
4pm 1 Credit PHP, 3 Hrs Realtor Contin. Ed



Oct 27th Training CESKC.com Credit Scores - 6pm-9pm 1
PHP, 3 Hours Realtor C E



OU!
THANK Y
Many thanks to our Volunteers
who sponsor a Networking. If
you need more networking and
interaction, please check out
Larry Prato Spencer Cullor
the Networking Group on the
Commercial Subgroup Commercial Subgroup Calendar. First Networking
event is free and does not re-
quire membership. After that if
you want to continue as a part
of the subgroup, we request
that you become a member of
MAREI to gain more knowledge
and access all the tools and
benefits of membership

Debra Felderhoff Michelle Winberry
BS, LS, Indep Subgroup Weekly Wednesdays


Register for
Events
To register for an event, first you need to log in using the instructions from page 4 of this guide, which as page 4 says,
lands you on the calendar of events.

Find the event you want to register for and click on it, in
this example, click on MAREI Monthly Meeting on the
14th. This lands you on the event page with the Mem-

ber Registration Button at the top.

Click on the member registration button.
And you end up with the registration op-
tions. Pick the one you want, which as a
member in this case would be the FREE

option using the drop down button, and click continue.

Continue clicking the Continue Buttons until you hit the
final screen below


See more details on each property in the Classifieds at www.MAREInet.com.

Offered As Address City Price Bed/Bath Contact Phone
Leased 2 Houses Lake Ozarks $58,000 Danny Hammond 816-985-4950
Turn Key 2 Houses South KCMo $76,00 varies Christoph Becker 816-419-1165
Fixer N 47th & Georgia Kansas City KS $18,000 2/1 Paul Redmond 913-626-2967
Fixer 2904 E 35th St Kansas City, MO 5/1.5 Christoph Becker 816-419-1165
propertyloca-
Fixer Waldo Kansas City, MO 3/1 Maggie Sheehan tors@yahoo.com
Rental 4132 Agnes Kansas City, MO $15,000 2/1 Christoph Becker 816-419-1165
Lease Option North of River 4/2 Laura Johnson 732-670-4940
Rehab 2327 NE 45th Place Kansas City, MO 3/1 Sue Robertson 816-589-0975
Turn Key 2005 E 58th St Kansas City, MO $23,000 3/1 Adrian Williams 816-616-2475
Fixer 701 E 70th St Kansas City, MO You Name 3/2 Bilal Hazziez 816-686-4805
Rehab 3509 Lexington Kansas City, MO $22,000 5/6 Joseph Grimm 913-489-9566
Turn Key 300 Kensington Kansas City, MO 25000 4/2.5 Joseph Grimm 913-489-9566
Wholesale 2510 Myrtle KCMO $13,500 3/2 Christoph Becker
Wholesale 310 E 81st ST KCMO $48,000 2/1 JD Asbell 913-583-1199
Wholesale 8701 N Troost KCMO $115,000 4/3 JD Asbell 913-583-1199
Wholesale 8413 E 85th Tr Raytown $48,000 4/2 JD Asbell 913-583-1199
Rehabbed 9436 Hakins Lenexa $85,000 2/1 JD Asbell 913-583-1199
Wholesale 5500 College KCMo $17,500 3/1 Christoph Becker 816-419-1165
Wholesale 5241 Olive KCMO $17,500 3/1 Christoph Becker 816-419-1165
Wholesale 5161 Hardesty KCMO $14,500 3/1 Christoph Becker 816-419-1165
Owner Fin Townhome Smithville Not priced 2 / 1.5 Rajeev Verma 913-735-5234
Wholesale 2904 E 35th St KCMO 14,999 5/ 1.5 Joey Kramer 816-510-4259
Renal 7411 Forest KCMO 39900 2/2 Scott Tucker, Realty Resource 913-620-7934
Turn Key 8516 W 69th Tr Overland Park 119,900 3/1.5 Don Tucker owner/ broker 913-208-3017
Fixer No address No city No price 3/2 Kevin Jamieson Reece & Nichols 816-686-2955
Rental 1811 S Cedar Independence No price NA Kevin Jamieson Reece & Nichols 816-686-2955


Welcome
We would like to welcome the New Members and
Guests from the past month and to thank our New
and Returning Members for being a vital part of this
association!

New Members Guests
 Noelle Bear: Bonner Springs, KS
 Dean Bammer
 Carol Cutler: Kansas City, MO
 Brandon Jackson
 Gregory Dorrel: Overland Park, KS
 Amanda Palomba
 Jason & Angela George: Oak Grove, MO
 Julie Schoemeht
 Joseph Grimm: Bonner Springs, KS
 Lisa & Mark Stang
 Bill Loftus: Kansas City, MO
 Ray Stuck
 Rod & Karen Messier: Independence, MO
 Chris Zembrenski
 Lauren Norwood: Grandview MO
 Paula Swenson: Overland Park, KS
 Eric Wayne: Pleasant Hill, MO
Returning Members

New Business
Glenn Davis: Lexington, SC
 Johanna Koppen: Kansas City, MO
 Mara Meade: Lee’s Summit, MO
 Premier Leasing: Lees Summit, MO  Ariel Moore: Overland Park, KS
 Marcus Painter: N Kansas City, MO
 Ben Rao: Lee’s Summit, MO
 Mike Reid: Shawnee, KS
 Scott Shore: Independence, MO
 Tim Stauffer: Kansas City, MO
 Luke Weber: Olathe, KS
 Roy Worley: Kansas City, MO


Wireless Security Systems
Keypad, 3 doors, 1 motion,
1 primary & 1 door siren
On Demand Training
One time Charge of $99 plus tax
30 Minute Segments Includes installation
Requires 36 month contract.
Top Investor Trainers Monthly Monitoring Fee $39.99

From the Comfort of Sell house
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$39.00 Training Courses DevconSecurity.com

REO & Lease Option Marian Collins: 913-907-4942
Creative Financing Gary Hartman: 913-991-1612
Automated Investments
Auctions & Foreclosures
Short Sales
Government Grant Money

www.MAREIU.com

―Recommended by Fortune Magazine!‖

On Saturday October 22nd, real estate expert Andy Heller will show you why
TODAY’S real estate market is the best time EVER for investors, and this win- Free Copy for all
dow of opportunity will be open only so long. Learn how to use Andy’s Fortune who register
Early—see calen-
Magazine recommended strategy. Andy will show you how to buy bank-owned dar on
properties directly from banks and REO Agents for pennies on the dollar BE- MAREInet.com
FORE the properties hit MLS, and how to cash in on today’s strengthening
rental market with his ―Rent Smart‖ lease/option program. The workshop will
include:

 Why today’s COOLING market is a  How the ―typical‖ lease options mini-
RED HOT opportunity for investor mize, not maximize, an investor’s profit
 Buying Low: Learn about the un-  How to make a fortune in real estate
tapped fortunes with bank-owned real AND help your tenants at the same time
estate  How to sell for top dollar WITHOUT
 What types of properties can you buy paying real estate commission
from banks  Achieve your REGULAR RICHES: Real
 How to buy REOs BEFORE they are estate fortunes for regular people . . . .
listed on MLS without the hassles.


informed MAREI targeted group
Professionals Of Clients
From Motivation to How To Optimization of Your

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.

Mid-America Crime Free Inc. Date: 10/19/2011
Proudly Presents! Time: 7AM to 5PM

FAIR HOUSING & PREMISE
LIABILITY SEMINAR
Seminar Schedule
08:00-09:30 Registration / Buffet Breakfast
(Fresh Fruit, Pastries, Eggs, Biscuits & Gravy)
09:30-11:45 Fair Housing w/ Robert J Wise
11:55-12:30 Foreclosure Issues w/ Wise & Anderson
12:30-1:30 Buffet Lunch
(Beef Brisket & Blackened Chicken)
01:30-02:30 Premise Liability w/ Julie Anderson
02:30-02:45 Afternoon Break (refreshments)
02:45-03:15 Bed Bugs w/ Det. Todd Butler
03:15-03:25 Break (refreshments)
03:25-05:00 Physical Security / Lighting Issues w/
P.O. Mike Betton
05:00 Seminar Concludes

This is YOUR chance to learn and discuss all the aspects of FAIR HOUSING in an
OPEN FORUM with landlord/eviction ATTORNEYS Robert J. Wise and Juli Anderson.
Also DISUCSS the ever changing ideas that surround PREMISE LIABILITY with AT-
TORNEY Julie Anderson. We also will have a presentation on the BED BUG infesta-
tion with Detective Todd Butler and then wrap it all up with updated information on
PHYSICAL SECURITY with P.O. Mike Betten. All of this great information, breakfast
and lunch for one GREAT PRICE of $99.00. Don’t miss out on this great SINGLE
DAY SEMINAR.

Location: Mid-America Crime Free Inc.
Holiday Inn Kansas City Metro Patrol Division
CoCo Key Water Resort 7601 Prospect Ave
9103 East 39th Street Kansas City, Mo 64130

To Register Go Online to
www.kcCrimeFree.com
If you have any questions please contact
P.O. Aaron McKie at 816-581-0723 or aaron.mckie@kcpd.org

The Investment News: October 2011

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