14 09 sept kreia newsletter

President’s Letterpage 1

Welcome New Members!page 5

“10 Keys To Get Paid Over 100% of Your Rents!”

page 3

Saturday Seminar! Screening Tenants In 15 minutes & Fill Your Vacant Unit Yesterday!

Page 5

Calendar of EventsPage 6

Landlord Bubble vs. Tenant Bubble

Page 7

Saturday Seminar with Tom Zeeb, Oct 25th

Page 9

Should You Partner with Other Investors?

1

Government Affairspage 13

Fuller Center Bell Awardpage 15

Copyright MMXIV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Presidents MessagePresidents Letter

Hello KREIAThanks to all who participated in last months Shark Tank. Everyone was talking about the deals after the meeting. Congratulation to the Lucky 4 investors who acted and are now participating in Frank’s Deal. Lots to learn and LOTS to EARN !!!!!!!!!!Did you know owning rental property is the #1 common denominator of millionaires? PRE-PAY Now for Thursday’s Meeting at www.KREIA.com and Sign Up Now for Saturday Workshop!This month, Mike Butler, author of #1 Best Seller Business Book “Landlording On Autopilot” reveals his simple, proven techniques to increase your cash flow and profit, reduce your time and effort, and keep great tenants for decades For More Profit, Less Work, and More Time for YOUR LIFE!Here’s What You Will Learn at KREIA’s September meeting:- How to Get 100% of Your Rents! Every month!- Get Your Tenant Moving Out to Make It Ready to Rent while paying rent!- 17 Brand New, Unique Strategies – more profit & saving your precious time- Get Tenants to Beg You for a 3 year + lease- Why You Must NEVER Call Yourself a Landlord- Brand New! Tenant Training 101 and Orientation- Secret Weapon gets Tenants to Gladly Pay for Chargeable Repairs- Screen tenants in 15 minutes or less, the same way, every time

- Finding Great Tenants is no different than “Shooting Ducks in Barrel” Mark Your Calendar Now! 5:30pm PRE-Meeting Come one come all. Get your brand new Membership card Loaded with DiscountsPower Luncheon on Thursday September 11 at Roosters. Turned out motivated investors. Last month was a 201 wholesaling mini seminar. We will see all interested parties next month!!!! Your President,Dennis Erhard

Quote of the month: "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ."Source: Warren Buffett

Vol 14-08 Monthly Newsletter for KREIA Members

Dennis Erhard

2Copyright MMXIV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

PresidentDennis Erhard

Vice PresidentFrank Miller

SecretaryDavid Thomas

TreasurerMike Grinnan CPA

Treasurer ElectWally Kallbreir

Board of Directors

Mike Butler

GeorgeForee

Eric George

JamieGreenwell

ErikHitzelberger

FredButler

TamaraWest

DuffyFord

Dan Jones

RueMcFarland

DemetriusDowdle

ParliamentarianHank Schildknecht

Past PresidentConnie Horsey

Your KREIA Leaders are involved and chair several committees to make KREIA happen every month for you and your fellow KREIA Members.Get involved with KREIA. You can help with the monthly meetings, L.O.T.S. Program, this newsletter, Saturday Workshops, Government Affairs, Social, Annual Picnic, Marketing, the new KREIA website and more PLUS You Get EXTRA KREIA Points for everything you do!Get phone and emails of all KREIA members with the new KREIA Online Member Directory.Reach out and tell them they are doing a great job! (It makes them do more for KREIA!)

KREIA Newsletterpublished monthly and serves both as a newsletter and a reminder notice of your upcoming monthly meeting.KREIA is a member only association focused on education, networking, and resources for today’s investor and to educate real estate investors from the basics to the complex. We are an excellent choice for all levels of investors. Whether you are just starting out in real estate investing, or are working on your hundredth deal, KREIA can help you learn more, earn more, and have more fun doing it.To Subscribe to the KREIA Newsletter is simple and easy. Go to KREIA.com and join the Kentuckiana Real Estate Investors Association.

Group Discounts are available. To Advertise in the KREIA NewsletterTo Advertise on KREIA.comTo Sponsor A Monthly MeetingTo Sponsor A LOTS ProgramPlease contact [email protected]

KREIA SponsorshipsDiamond: Full Page Ad + Table + Pre-Meeting Speaker Only $995 or $99 mo.

Gold: Half Page Ad + Table + Pre-Meeting Speaker Only $499

Silver: ¼ Page Ad Only $299

Business Card : Ad Only $149

Event Sponsor: Meeting, LOTS, Saturday Seminars, and more!-----------------------------------------------------Place Your Ad Now at KREIA.com---------------------------------------------”KREIA Advertising is by far, hands down, the absolute best advertising dollar ever spent for Borders & Borders!” Harry Borders, B&B Attorneys

KREIA SponsorshipsDiamond: Full Page Ad + Table + Pre-Meeting Speaker Only $995 or $99 mo.

Gold: Half Page Ad + Table + Pre-Meeting Speaker Only $499

Silver: ¼ Page Ad Only $299

Business Card : Ad Only $149

Event Sponsor: Meeting, LOTS, Saturday Seminars, and more!-----------------------------------------------------Place Your Ad Now at KREIA.com---------------------------------------------”KREIA Advertising is by far, hands down, the absolute best advertising dollar ever spent for Borders & Borders!” Harry Borders, B&B Attorneys

FredHelm


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Featured Speaker September 25th KREIA Meeting

For More Profit, Less Work, and More Time for YOUR LIFE!Mike Butler, author of #1 Best Seller Business Book “Landlording On AutoPilot” reveals his simple, proven techniques to increase your cash flow and profit, reduce your time and effort, and keep great tenants for decades!

Here’s What You Will Learn at KREIA’s September meeting: How to Get 100% of Your Rents! Every month! How to Get Your Moving Tenant to Get Your Unit Ready to Rent while paying rent! 17 Brand New, Unique Strategies – more profit while saving your precious time Get Tenants to Beg You for a 3 year + lease Why You Must NEVER Call Yourself a Landlord Brand New! Tenant Training 101 and Orientation Secret Weapon gets Tenants to Gladly Pay for Chargeable Repairs Screen tenants in 15 minutes or less, the same way, every time, every application Learn How to Find Great Tenants is no different than “Shooting Ducks in Barrel” when you know when

the barrel will be full. PLUS, Dozens of FREE tips, techniques, and resources ready and waiting for you to “Flip The Switch” for

extra income while saving your time.

For the "Been There, Done That" investor who says “Never Again will I have Tenants Ever,” just imagine what your life would be like with 20 nice rental houses paid for, with great tenants paying rent like clockwork! What would your life be like?

Mark Your Calendar Now! Did you know owning rental property is the #1 common denominator of millionaires?

PRE-PAY Now for Thursday’s Meeting at www.KREIA.com and Sign Up Now for Saturday Workshop!

5Copyright MMXIV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Bring One of Your Recently submitted Rental Applications and we will use them in your workshop to show you, and your fellow students, how to process your rental application in 15 minutes or less!

PLEASE Do NOT tell Mike if you approved them or rejected them… Mike will work through your applications showing you exactly how to do it. Do it right and in 15 minutes or less!

Mike Butler will show you how to PREVENT vacancies by getting them rented and filled BEFORE they become vacant. Just imagine how much money and time this will save you from lost rents, lawn service, utilities and more!

Discover How To NEVER Disqualify a Rental Application again!

How you can process most applications without a credit report!

Free Resources to give you invaluable information on each applicant.

The 6 point Scoring Matrix ensures you process every application the same way every time for every application.

How you can legally refuse to rent to folks who are not clean.

Marketing is a very critical part of your landlording business. Bring your BIG NOTEBOOK along with 2 or 3 ink pens to capture every money making, time saving, and money making morsel and tid bit from Mike Butler’s workshop.

includes workbook AND hot lunch buffet!

Register Now To Reserve Your Seat

(Class is limited to 50 seats due to room size)

SATURDAY SEMINARWith Mike Butler

EARLY BIRD DISCOUNT!

Members

Only $492 for $79

GuestsOnly $99

2 for $199---------------------------After Early Bird Expires

Members $129Guest $199

“How To Screen Tenants in 15 minutes or Less and…How to Fill Your Vacant Unit YESTERDAY!”

Mark Your Calendar now for Saturday, September 27th at WILDWOOD Country ClubJoin your fellow KREIA Members for this very unique, “roll up your sleeves,” Hands On Saturday Workshop with the nation’s leading expert on landlording – Mike Butler (author of #1 Best Seller business book on Amazon “Landlording On AutoPilot”)

No Member Spotlights were submittedPlease submit yourself or a fellow member

http://kreia.com/submit-member-spotlight


Welcome New KREIA Members!Darwin Newell Marcus AndersonMichael Frank John FerrinDon Rowe Rox-Anne RhodesRobert Rice Robert McKim


Master This and You Will Be Well On Your Way to Getting Over 100% of Your Rents Every Month

If you have rental property, does this sound familiar?

“I Can’t Believe My Tenant Did That!”

“Why Did They Do This?… I Thought They Were Good Tenants”

Don’t worry, it happened to me when I got started too.

Here’s Your Big Question: Why do Tenants act like they do not have any common sense?

ANSWER: Because their definition of “common sense” is totally different than yours! Try this on for size:

Back in high school, I got a job at Winn-Dixie grocerystore as a bag boy and buggy retriever. Do you think the manager tossed me an apron and said go up front and start bagging groceries?

That is what I expected, but it did not happen. In fact, he took me over to the employee lunch room where I had to watch at least 2 hours of Welcome to Winn-Dixie along with training videos on how to sack groceries properly.

That’s not all. Then I had to take a “test” using practice groceries to bag them properly using the paper bags with corners. (not plastic) Only after I passed my ‘bagging groceries test,’ did I receive my new green apron diploma to begin sacking groceries for customers along with rounding up buggies in the parking lot.

What does this have to do with my tenants? A lot! Chew on this for a moment. Odds are, if you have rental property and remember when you got started. How many times did you call your next new tenant, tell them they are approved, and to meet you at the house at 5pm today or tomorrow.

You show up and ask them if they have their money. You pull out your papers and rental agreement and instruct them to initial each page and then sign the last page and date it? Maybe this is done on the kitchen counter or the hood of your truck or in a fast food joint.

Then you count your money while they are initialing and signing. After you make sure you got your money, you gather up your originals and give them keys to your investment property.

Isn’t this the same as tossing a green apron to the next new hire? Yes, it is.

What kind of training did you give your new tenant?ZERO, nad-dah, zilch. And now you honestly want them and

expect them to behave like Aunt Bee in Mayberry?

We live in our own “Bubble” and Tenants live in their own “Bubble.”

Where do you and your family members shop? Probably the mall, a department store, or maybe even Wal-Mart.

Where do most tenants shop? Hold your breath on this one. Many tenants shop at pawn shops, rent-a-centers, etc.

WE Think This Is NUTS. Why? Because we live in our bubble and would never set foot in any of those places with over priced products with outrageous financing.

Here is the real world. Did you know Aaron’s Rent-A-Center is a very successful company that sponsors a NascarTeam or two? If they are making huge profits and we never set foot in those places, this means they do have a lot of customers, just none of us.

This is what I am talking about. This is normal in the Tenant’s Bubble.

We say things like shopping at pawn shops and rent-a-center is not the best way to shop. OK.This is our BUBBLE. We think folks who shop at those places are not real bright.

Tenants say things like “Landlords have deep rich pockets.” They do not have to shop at pawn shops and rent-a-centers.

What we think is normal is our “Bubble.” What tenants think is normal is their “Bubble.” This is what makes the world go round. They call us “weird” and we call them “weirder.” This will never change and the sooner you grasp this, the quicker your business is more successful.

After chewing on the above and “getting it,” let’s go back to the bag boy job. Why not have a new tenant training 101 and orientation with a “Welcome to Your Company” video (Rent Talk System DVD) along with detailing their responsibilities and consequences. Oh yes, included is a checklist they initial and date as they progress through your new tenant training. Lastly, signing your lease, counting money, and giving them keys to your investment property.

ALWAYS include a Welcome Package. It shows them you value them as your new residents.

To Your Continued $uccess!

Mike Butler

How You Can Make More Money When You Understand Your ‘Landlord Bubble’ compared to Your ‘Tenant’s Bubble’

Rick Wardlow, Joe Gribbins, Allee Harmon, Bill Dollinger, Frank Miller Call 502-489-5515

http://wardlowauc.com

8Copyright MMXIII Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Saturday, October 25th Workshop!


Mark Your Calendar Right Now and Pre-Pay Now for KREIA’s October MeetingIn this exciting and information-packed presentation Tom teaches 4 lessons:

Lesson #1: How to Generate Rapid Cash

Lesson #2: Where Wholesaling Fits In to the Real Estate Investing Process

Lesson #3: The Critical Numbers to Rapid Cash Generation

Lesson #4: Power Negotiation Strategies to Get Sellers Saying “Yes”

SATURDAY SEMINARWith Tom Zeeb

EARLY BIRD DISCOUNT!

Members

Only $492 for $79

GuestsOnly $99

2 for $199---------------------------After Early Bird Expires

Members $129Guest $199

“RAPID CASH GENERATION: HOW TOQUICKLY MAKE MONEY WITHOUT MONEY IN REAL ESTATE!”

October 23rd KREIA MEETING with TOM ZEEB

Rapid Cash Generator Workshop: How To Go From Spinning Your Wheels To Profitable Deals!" Class size is limited to 50 seats

When You Attend The Rapid Cash Generator Workshop Tom Will Show You: * How To Generate Rapid Cash* Dynamic Secrets To Quickly Flip Properties With No Cash, No Risk, No Tenants* How To Create A Monthly Income Of $10,000 Or More * How To Build A Marketing System That Finds Quality Motivated Sellers* Marketing Techniques To Get Your Phone Ringing Off The Hook with Sellers* How To Turn Luke-warm Leads Into Red-hot Deals * Power Negotiation Strategies To Get Sellers Saying "Yes"* How To Control A Deal To Ensure You Get Paid* How To Determine The Critical Numbers You Need For Rapid Cash Generation* How To Estimate Repairs Quickly And Accurately * How To Build Your Real Estate Business Fast * How To Build Your Dream Team To Get The Deals Done * Techniques That Work For Wholesaling, Rehabbing, Or Rentals* Strategies That Work In Today's Market* How To Do Deals Tax-free In Your IRA * How To Build A Lifestyle Business That Sets You Free* How To Maximize The 4 F's: Fun Time, Freedom, Finances, & Family* How To Build A Solid, Steady, And Consistent Income Stream. * How To Be Independent And To Be Your Own Boss. * How To Protect Your Family And Your Future, Retire In 5 To 8 Short Years, And Break Out Of The Rat Race So You Can Maximize The Real Estate Lifestyle To Its Fullest.

Doors Open: 8:30am – 4pm WILDWOOD Country Club5000 Bardstown Rd. Louisville, KY 40291

Includes Hot Lunch Buffet!

10Copyright MMXIV Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Eric George, Erik Hitzelberger, Dan Jones, Simone Mancuso, Mark Lechner, Dennis Erhard

KREIA’s Very Own SHARKS from the August SHARK TANK meeting

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By Tom ZeebAre two better than one? Is there strength in numbers? Should you do partnerships with other investors?The answer is: “it depends”. There are a lot of criteria to evaluate when considering if you should take on a partner in your business. In my experience and from my observations, partnerships of inexperienced investors tend to feel good for those partnering up, but don't succeed because there is no real balance of skills and knowledge. And there are quite often very different objectives as well that make the two parties incompatible as long term business partners. Inexperienced potential partners feel good together because both investors are struggling and afraid to get started. Therefore they feel comfortable with each other because they are in the same boat.However, two struggling people with no experience do not bring much to the table. It is a partnership without any true benefit to either party other than having someone to share the ride with. Intermediate to advanced investors also need to be cautious about partnerships. Once someone has done a few deals, they develop their own style and method for doing business. This may clash with another investor, especially as entrepreneurs tend to be very independent minded and strong willed. In the case of both the beginner and advanced investor, it is important to be sure that both sides see eye-to-eye on what their personal financial and business goals are. For example, if one partner is younger and broke and wants to wholesale everything for quick cash and the other partner is older and more interested in cash flow and appreciation and wants to buy and hold everything, then the partnership is going to have trouble. The same would be true if the partners had very different risk tolerances. If one partner wants to renovate everything for the “big bucks” but the other partner is scared of the time and money involved and just wants to wholesale for quick cash, then the partnership will have trouble.

At the end of the day, it is wise to remember that there is only one captain on a ship. It is a rare partnership that doesn’t have any serious friction. For those partnerships that do work, the partners have a good understanding of each other’s personalities and of their own strengths and weaknesses and well as their partner’s strengths and weaknesses. They also share very similar goals and expectations for what they want to get out of the business partnership. Partnerships can be out of balance because of overlapping strengths or both sides being weak in a certain area. Double weakness = problems externallyDouble strength = internal clashesDo not underestimate this. Recognize where these overlaps occur and work with your partner to ensure that you find a way to account for the problems that can occur. If you do find a good partner and decide to join up for long-term business purposes, be sure you legally construct an entity to protect yourselves from each other. Have an attorney draft up an operating agreement that clearly states what happens if the partnership dissolves. Decide on the details of how you would split up front when you are still on friendly terms. Trying to do that once the relationship has soured is not easy or pleasant. If you are just partnering up on an ad hoc basis for certain deals, use a Joint Venture (JV) arrangement. In all cases avoid the general partnership, as it provides no protection and actually makes you liable for the other party’s actions. The main questions to ask yourself when considering a partnership are: Is your partnership profitable? Do both sides bring something to the table? Will two be better than one?

Tom Zeeb has been featured by CNBC, The Washington Post, Kiplinger's Magazine, The Washington Examiner, Financial Lifeline Radio and National Real Estate Investors Association's Magazine among others. He is the President of Traction REIA, the Recipient of the National REIA "Honors of Merit" and the "Award of Excellence" for Best Real Estate Investor Association! Traction REIA serves the Greater Washington DC Metro Area.

Should You Do Partnerships With Other Investors?


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Saturday Seminar!Saturday, Sept 27th

Wildwood Country Club, 5000 Bardstown Rd.Doors Open 8:30am – 4pm

Includes WorkBook and Hot Lunch Buffet!Mike Butler’s

author of “Landlording On AutoPilot”

Landlording Workshop! How To Fill Your Vacant Unit Yesterday! How to Screen Tenants in 15 min or less!Bring one your recently submitted rental applications to use as a class project!

Early Bird Discount expires 1pm on Sept 26th

2 for $79Guest $99

Register Now at www.KREIA.com

Louisville Metro Government

1. Louisville Metro Planning staff has finished its review of round two of the Land Development Code proposed text amendments. The proposal is ready for the Planning Commission and public hearing. The Land Development Code (LDC) Round Two Text Amendments draft is published on the Planning & Design Services website.

The LM Planning Commission Public Hearing was on Monday August 11 from 1-5PM at the Old Jail building at the corner of Liberty and Sixth Streets. Representatives of GLAR were at the hearing and the Planning Commission passed all recommendations except for the changes to transportation and landscaping.

These two issues will be taken up at the September 4th public hearing at 1 PM at the Old Jail Building. Follow this link to view the full documents: http://www.louisvilleky.gov/PlanningDesign/Land+Development+Code+Improvement+Committee.htmwww.louisvilleky.gov/PlanningDesign/Land+Development+Code+Improvement+Committee.htm

2. The Jefferson County Public School Board

was considering raising property taxes nearly 3 percent to gain an extra $15.3 million, in part to help offset state-mandated pay raises.

The District proposed up to a 2.8 percent increase in the property tax rate – from the current rate of 71 cents - per $100 of assessed value - to 73 cents.

Under that rate, the owner of a house assessed at $100,000 would owe $730, $20 more than last year.

Superintendent Donna Hargens stated at the Board meeting that she recommended to not raise the rate. The school board followed her advice and did not raise the property tax rate this year.

Received Greater Louisville Association of REALTORS

From Rue McFarlandChairman Government Affairs Committee

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$250 Deposit Reserves Your Slot Now!And is fully refundable till October! RCCL Price Increase by $400 on August 31

4th Annual GreatInvestorCruise.comMake Your Family Vacation an Education Expense for Your Business!

9 Day Seminar At Sea for the Price of 7 Day Cruise on Royal Caribbean Cruise Line!Leaves/Returns Port Canaveral, FL – southern Caribbean ports

January 9th – 18th, 2015 Don’t Delay! Call 502-414-1135


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15Copyright MMXIII Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

.com

PO Box 91225Louisville, KY 40291Return Service Requested

KREIA’s Monthly Meeting! Thursday Sept 25th

5:30 EARLY MEETING - NEW KREIA MEMBER BENEFITS & WEBSITE

FEATURED SPEAKER – KREIA’S VERY OWN “MIKE BUTLER”

“10 PROVEN KEYS TO CONSISTENTLY GET PAID OVER 100% OF YOUR RENTS EVERY MONTH!”

SATURDAY WORKSHOP! SEPT 28TH AT WILDWOOD CCHow To Fill Your Vacant Unit Yesterday!...ANDHow To Screen Tenant in 15 minutes or Less!

KREIA Members: Only $49 or 2 for $79 and includes Hot Lunch Buffet!

14 09 sept kreia newsletter

Documents

motivated investors

great tenants

screening tenants

landlord brand new

precious time

particular deal

thursdays meeting

brand new membership