Change Your Attitude — Create an Unstoppable...

Winner of the 2007 National REIA Honoring Excellence Award CFRI News July 2008 1

NEWSLETTERN e t w o r k i n g • E d u c a t i o n • I n t e g r i t y

July 2008

Change Your Attitude — Create an Unstoppable YouChuck is the author of our CFRI newsletter column “Attitudes of Wealth,” and will be

speaking at this month’s General Meeting on Changing Your Attitude to Create an Unstoppable You. Discussion will include thought patterns, attitudes, mindsets, believe structures, business plans, goals and goal settings, business lines of credit, getting out of the rat race, and building a totally successful real estate business.

Chuck is a native of Arkansas. Married to Nancy at a young age, Chuck started working to support his growing family while he attended college. Not completely satisfied with work and the outlook of the future, he joined the United States Air Force in 1979 with the dream of becoming a jet pilot.

After enlisting in the Air Force and finishing college, Chuck was selected for Officer

Candidate School and Flight School in 1982. After 20 years of duty around the world (he has been on every continent in the world except Antarctica), Chuck retired in 2000. He then flew for the airlines for about five years, but soon realized that was not the job for him or his family. Currently he is employed with General Dynamics as a Project Manager. Chuck and Nancy

moved to Florida in 2004, and now reside in Orlando. They have their own Real Estate business, Popcorn Properties, LLC.

Over time, Chuck realized wealth would not be achieved by working for someone else. As a result, in the mid-1990’s, he started to study real estate. He bought into the typical infomercial products like those from Dave Del Dotto and Carlton Sheets, and also joined the Robert Allen team and became a level five mastery student for the Robert Allen Enlightened Wealth Institute.

Even after learning techniques around the country and buying and selling properties, he still was not satisfied that he had tapped into true wealth. It was not until recently that he put two and two together and realized that true wealth lies in your attitude.

During one of our own CFRI monthly meetings he noticed many people were concentrating on all the negative things going on in our industry. And, none of the naysayers seemed to be buying property at this point. That concerned him! He thought, “This is the best market for all of us to create long term wealth and most likely will be the best market that we

may ever see in our lifetimes. Why are we all so negative?”

So, he dug out what he had learned from all the

motivational seminars and boot-camps he had attended and started re-learning the art of mindset motivation. Now realizing that our wealth is a direct reflection of our mindset, money blueprints, attitudes, and daily actions, Chuck’s goal is to share that knowledge with CFRI members so that we can all achieve true wealth in all senses of that word: financially, emotionally, physically, and spiritually. Remember, what you believe you can do – you can! What you believe that you cannot do – you cannot! Let’s all reprogram our mindset and become successful entrepreneurs!

Chuck will make sure our General Meeting will be a dynamic night with a lot of action, so come one, come all – let’s see if your blueprint is set for a million dollar real estate business. Or better yet, let’s see if we can help you set your blueprint for a multi-million (even billion) dollar real estate business? Who’s to say — what’s stopping you?

“True wealth lies in your attitude.”

by Colleen SharkeyCFRI Public Relations Director Randy Anderson who owns an investment bank in Winter Park was selected as the first to hold the Howard Phillips Eminent Scholar Chair in Real Estate. In this new capacity he will direct a research and education institute in the Dr. P. Phillips School of Real Estate within UCF’s College of Business Administration. The college, which began in 2006, has approximately 200 students majoring/minoring in an undergraduate real estate program.

Anderson’s qualifications for this position are stellar: a doctorate in finance from the University of Alabama, a Ryder Eminent

UCF Selects Randy Anderson to Lead New Real Estate School

Scholar Chair while at FIU, former chief economist for Marcus & Millichap, and former CNL Real Estate Advisor President.

Anderson has set a goal of building the UCF program “into a top 10 school of real estate” within 5 years. We recently met with Anderson to further explore how CFRI can assist with the growth of the program. In addition, CFRI hopes to collaborate with UCF in the future to help educate real estate investors. We at CFRI are proud to join in and wish Anderson the best as he begins this new program for UCF!!

2 CFRI News July 2008 Winner of the 2007 National REIA Honoring Excellence Award

Florida landlord network“Making Better Landlords”

(800) 809-1530 • www.Flalandlord.com


Columns Guest Speaker ..................................................................................................................................................... 1

Randy Anderson ............................................................................................................................................. 1

Leadership Thoughts ................................................................................................................................. 5

Attitudes of Wealth ...................................................................................................................................... 7

Tax Deed Investing ...................................................................................................................................... 9

Legislative Corner .......................................................................................................................................... 11

Perspective - How I Started In Real Estate ........................................................................ 13

Deals of the Month ...................................................................................................................................... 15

Inspector’s Corner ......................................................................................................................................... 17

How NOT to Be a Real Estate Investor .................................................................................. 18

Staging ........................................................................................................................................................................ 23

On the Down Low ......................................................................................................................................... 26

CFRI speCIal events

Million Dollar Attitude Seminar .................................................................................................... 6

Invest in Tax Deeds Seminar ............................................................................................................ 8

Leveraging Profits Seminar .............................................................................................................. 10

CFRI BulletIn Advertising Rates ............................................................................................................................................. 3

Board Members and Staff ..................................................................................................................... 4

Disclaimer .................................................................................................................................................................. 4

General Meeting Reminder ............................................................................................................... 4

Orientation Meeting Reminder .................................................................................................... 4

Membership Renewals for Free Offer .................................................................................. 14

Advertising Special Offer ..................................................................................................................... 21

Business Member Directory .............................................................................................................. 22

Upcoming Events ........................................................................................................................................... 24

Calendar ..................................................................................................................................................................... 26

adveRtIseR Index Alan’s Roofing, Inc. ........................................................................................................................................ 20

Florida Landlord Network .................................................................................................................... 2

Franklin Runs, LLC ......................................................................................................................................... 28

IRSFL ............................................................................................................................................................................... 20

IRSFL Member Discount ....................................................................................................................... 20

Investors Mortgage ...................................................................................................................................... 2

Mighty Realty ...................................................................................................................................................... 28

National City Mortgage .......................................................................................................................... 16

Premier Property Solutions .............................................................................................................. 12

Royal Press .............................................................................................................................................................. 20

Sand Dollar Realty Group, Inc .......................................................................................................... 24

Southeast Professional Title ............................................................................................................. 27

Volusia Asset Company, LLC............................................................................................................. 21

CFRI Advertising RatesReach more than 1700 active real estate investors every month!

Rate ScheduleSize Non-Member Member Business Memberfull page $350 $300 $2251/2 page $285 $235 $1751/4 page $180 $130 $1001/8 (Biz Card) $150 $ 75 $ 55

Two-color ad on glossy wrap is an additional 25% above posted rates. A 10% discount is given on ads pre-paid for 6-12 months. Any changes to a pre-paid ad will incur a minimum charge of $20. The deadline to submit ad copy is the 1st of each month. All ads must be prepaid. Email ad copy to [email protected]. Contact to verify ad format can be accepted, PDF preferred. There is an additional charge of $25 to typeset a business card or 1/4 page ad layout, $60 for a 1/2 page or full page lay-out. Ads can be submitted in color, but ads are printed in grayscale which affects clarity — choose your colors accordingly. Opportunities also exist for advertising on www.CFRI.net. Call 407-328-7773 for more information.

E-mail ad copy to [email protected]

Mail payment to:CFRI, 55 Skyline Drive Suite 2850 Lake Mary, FL 32746

Connecting more than 1700 Central Florida real estate investment professionals every month! Contents

Need to Rent Event Space?The CFRI Educational Center in Lake Mary can be rented for ½ day – full day for events not related to real estate investing. Call 407-328-7773 for more details.

SPECIAL PROMOTIONfor CFRI MEMBERS

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any General Meeting or County Subgroup Meeting

for only $10

REMEMBERRefer New Memberships

and Earn CFRI Bucks!


BOARD MEMBERSOFFICERSAdam Sleap, President ....................................................................(407) 766-1849 [email protected] Hefka, Vice President ........................................................(407) 697-7213 [email protected] Edmond, Secretary ..........................................................(407)310-4007 [email protected] Petty, Treasurer .....................................................................(321) 696-9312 [email protected] DIRECTORSMichael Heavener, Program .......................................................(407) 383-7796 [email protected] Allen, Membership ................................................................(321) 278-9916 [email protected] Sharkey, Public Relations ..........................................(407) 474-4891 [email protected] Byllott, Subgroups ..........................................................(407) 566-9361 [email protected] Bolton, Operations & Technology ................................(407) 678-4663 [email protected]

CFRI STAFFCheryl Kiser, Association Executive ......................................(407) 328-7773 [email protected] Bentley, Administrative Assistant ........................(407) 328-7773 [email protected] Campbell, Newsletter Editor ...........................................(407) 977-9264 [email protected] [email protected] ADvISORJoseph Seagle, Attorney at Law...............................................(407) 770-0100… ...................... [email protected]

LEgISLATIvE CHAIRSteve Flewelling ................................................................................................................................................. [email protected]

CFRI is a not-for-profit trade association, dedicated to promoting ethical real estate investing. We provide educational and networking opportunities to real estate investors at all levels.

CFRI does not exist to render and does not give legal, tax, economic or investment advice and disclaims all liability for the actions 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.

MISSION STATEMENT

LEgAL DISCLAIMER

CFRI general Meetingat The Plaza Theatre

Colonial Plaza Shopping Center425 N. Bumby Avenue, Orlando, FL 32803

407-228-1220

Wednesday, July 25:30 p.m.

Members FREEGuest fees : $20

If guests join within two days of the meeting, their guest fee will be applied to the membership fee with proof of payment.

CFRI New Member Orientationat the CFRI Educational Center55 Skyline Drive, Suite 2850Lake Mary, Florida 32746

Thursday, July 3CFRI General Members:6:30 p.m. to 7:15 p.m.

CFRI Business Members:6:00 p.m.- 7:15 p.m.(Required. Must arrive on time.)

Organizational Notes

CFRI BOaRd aNd staFF

MeMBeRs

CONTENT DISCLAIMER

The views and opinions expressed by authors of articles contributed to this newsletter do not necessarily reflect those of the association, the board of directors or the staff.


Leadership thoughtsby adam sleapCFRI presidentCFRI Business membersan Jose Investment Corp. of america

Winds of Change (Maybe)

As President of CFRI one of the most common questions I hear is “When is the real estate market going to improve?” I get this from investors, lenders, the press, and friends who know what I do for a living. Not being quite dumb enough to go on the hook, I quote MLS statistics and various statements from economists, which up to this point equated to a big fat “I’m not sure.” In the last thirty days though I have seen and heard enough positive statistics to make me believe there is a chance we may be seeing some improvement in sales. For you history buffs a great leader once said, “This may not be the beginning of the end, but it certainly, is the end of the beginning” (I will give a free CFRI t-shirt to the first person to tell me at the July General Meeting who said this).

You will be reading this in July, and by then, we should know if it is a false-start or a new trend; with the summer moving season upon us, I have high hopes. Everyone who has talked to me about this market knows I believe the mortgage industry must get better for sales to truly heal; people who want to buy houses must be able to get loans. I believe the demand for buying will be here before the mortgages to satisfy that demand will be available, but it is certainly a starting point. One more time, if you don’t know how to structure owner financing, learn now!

On another note, near the end of May the Governor signed HB 643 creating new foreclosure protection laws. This new bill can have a tremendous impact on investors. Rob Arnold, CFRI Legislative Committee Member, has written an article about this new statute on page 11 of this newsletter. Make sure you read it!

Lastly, there is an article in this month’s newsletter about a future collaborative relationship between

CFRI and the UCF College of Real Estate. We had a meeting with Randy Anderson, who will head up that college, and we spoke about the educational opportunities that will exist for both UCF students and CFRI members. I think there are good things to come with this collaboration, so when you see new, young faces at our events please share your knowledge, and be looking for

unique programs that we will promote on behalf of UCF. A combination of academic and real-world based education should be truly formidable in the marketplace.

Until next month – good investing.

“If you don’t know how to structure owner financing, learn NOW!”


Million Dollar Attitudes Seminar

Did you know that your thoughts, mindset, attitude, and the actions you take are a direct re�ection of your Wealth?

How many times have you heard “you can’t do that in this market” or “you can’t make money in real estate today?” That is hockey puck! This is the absolute best market for long term wealth that all of us will see in our life times. We must change our attitudes and thoughts to step outside of our comfort zone box. So, how do we change? Get the answer at our Million Dollar Attiudes Seminar

Million Dollar Attitudes = Million Dollar Business

Led by Chuck Petty

What you’ll learn:

Find out your “Why,” eliminate negative beliefs, and create passion for your business

4 Easy Ways to Register forPHONE: 407-328-7773 FAX : 407-328-4446 ONLINE www.cfri.net

MAIL : CFRI, 55 Skyline Dr, Suite 2850, Lake Mary, FL 32746 Full payment must be made at time of registration. No refunds will be given for cancellations received within 7 days of this event.

the Million Dollar Attitude Seminar: PHONE, FAX, MAIL or ONLINE

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#______Member Registrations $69 each thru 7/9, $89 after 7/9 #______Non-Member Registrations $89 each thru 7/9, $109 after 7/9

CFRI Members: $69 thru 7/9, $89 after 7/9 Non-Members: $89 thru 7/9, $109 after 7/9

Saturday, July 129:00 p.m. - 5:00 p.m.

CFRI Educational Center55 Skyline Dr, Suite 2850, Lake Mary

RSVP On l ine a t CFR I .ne t

Earn 3 PHP Credits in Management


by Chuck pettyCFRI treasurerCFRI Business memberpopcorn properties, llC

attitudes of Wealth

Dedicate Yourself to Adjusting the Way You Think

“Did you know your attitude toward success and money is already embedded in your mind?”

Welcome back! Have you been doing your exercises each month and reading the great books that have been recommended? If not, go back to article one printed in the March 2008 CFRI Newsletter and get caught up!

Did you know that 97% of the wealth in the world today is held by no more than 3% of the population! Is that unreal or what? Now, you may be telling yourself right now that you are going to be in that 3% -- right? Right! I agree with you and I too am saying the same thing – so, what is stopping us? Could it be a negative belief system deep rooted in our subconscious that we haven’t cleared yet? Maybe you and I are not looking at our commitment level to moving forward with our goals and plans? Are we committed to doing whatever it takes, as long as it takes, to accomplish our personal and business goals? Maybe, just maybe – you really don’t want to do whatever it is you’re not following through on?

T. Harv Eker writes in his book, “Secrets of the Millionaire Mind,” a wealth principle: “Give me five minutes, and I can predict your financial future for the rest of your life.” He states this because he can identify your money and success blueprint in a short conversation. Did you know that your attitude towards success and money is already embedded in your subconscious mind? Your financial blueprint is a combination of your thoughts, feelings, and actions in the arena of money. Your blueprint has been programmed by information from your parents, teachers, peers, friends, media, and your culture just to name a few.

In short, this means that what you focus on and how you react to information stimulus is how you set your money blueprint. If you consistently focus on negative information, you enhance your negative belief systems and honestly don’t stand a chance for true wealth and financial success. If you study how to change your verbal programming, let’s say everyday, you can recondition your mindset for total wealth success. Wealth is like a thermostat in your home or office. You set the temperature on 76 degrees, when the temperature in the area goes up to 78 degrees the air conditioning pops on and cools it back down to 76 degrees therefore keeping the room at 76

degrees. If your wealth attitude is set for a good education that produces a good job that produces XXX income, when you get above that amount in wealth, the wealth thermostat kicks in and you sabotage your wealth increase to get back to the norm (temperature of wealth) that your mind/subconscious is set for! Why do you think lottery winners after a few years seem to be back in the same financial position they were in before they won the lottery? Totally broke in all senses of being broke: financially, emotionally, physically, and spiritually

Being aware that you are conditioned with belief patterns that control your everyday thoughts, action, and success is half the battle and is a good start down the road to wealth. Once you are aware of what those beliefs are you can start to change those beliefs and start achieving the wealth and riches that you deserve. Take the following actions this month to start your path to success: 1. Take a day or two to analyze/assess your financial reality. Write down the

“WHYS” of why you are at this financial state in your life today (good or bad). Construct your money blueprint, just like a design blueprint for a house, on how you got to where you are at today. 2. Change your blueprint, design and choose

a path of action for the next logical step you must take to achieve wealth. 3. Fully engage yourself in the work necessary to complete your new path. Be sure and give yourself enough time to gauge your success. These actions will help you achieve a higher level of wealth and success.

I recommend that you read Secrets of the Millionaire Mind by T. Harv Eker and if you ever get a chance to attend Harv’s Millionaire Mind Intensive Seminar, drop everything you are doing and get to that seminar. It is a life changing event. Thought for the day: “If your motivation for acquiring money or success comes from a non-supportive root such as fear, anger, or the need to prove yourself, your money will never bring you happiness” – T. Harv Eker

Don’t forget! That new CFRI Focus group “Attitudes of Wealth” started in June. The monthly meeting will be held on the 1st or 2nd Monday of every month. Check the date and sign up for our July meeting at www.cfri.net. By the way, we are talking about mindsets, attitudes, books to read, book reviews, business goals, business lines of credit, board games, review of training programs, technology issues to enhance your business, and many more topics along this line of positive thinking. Hope to see everyone there!


“Some property owners delinquent on their taxes have sold us their property for $50 or less. ”

When I tell people that I sometimes invest in Tax Deeds, they give me a blank look followed by an inquisitive stare. That is because investing in Tax Deeds is an area of real estate that few people know much about, and as a result, many people have the wrong idea about Tax Deeds. That is one of the reasons I like investing in them and tax delinquent properties. There’s less competition and few people know how lucrative it can be!

There are several ways to make money when it comes to Tax Deeds and tax delinquent properties. One is to buy Tax Certificates, which is basically buying a lien on the property. The second method is my favorite and what I’ve been doing for about 4 years: buying tax delinquent properties before they go to sale or at the Tax Deed Auction.

Some property owners delinquent on their taxes have sold us their property for $50 or less. We later sold those lots for between $4,000-7,000 each. These were buildable lots, not swamp land. It’s actually a benefit to the owner to sell their property for the least amount of cash.

There have been times when I bought lots with homes on them for just the back taxes. The houses needed a ton of work. One of the homes had a tenant who was still paying rent to the previous owner for about 2 years after the owner lost the property! So, if the previous owner lost it for taxes, why didn’t the new owner collect the rent? There wasn’t a new owner, the property was in what you might call limbo; this

happens occasionally with some Tax Deed Properties. We purchased that home over the counter without having to bid for a Tax Deed nor a Certificate.

One of my partners purchased a Tax Deed commercial lot for $27,000. She resold that property for about $103,000 a

few months later. Tax Deeds can be lucrative but you have to know what you are doing so you don’t get in trouble.

In the past, I have been reluctant to share too much information on Tax Deeds, but on July 24th I will be teaching a seminar at CFRI on how to invest in Tax Deeds. You will learn what to look out for, how and where to get started with very little money, techniques to get these properties for 20-30% of the retail value, what to tell the owners to get the property for next to nothing along with creative ways to make a profit. You will also get a copy of a special letter that has successfully led to property owners

selling me their property for next to nothing.

Sandra Edmond has been a full time Investor for 4 years. She was most recently included in a front page article in the Orlando Business Journal due to her experience in the area of tax delinquent properties. Sandra is known primarily for buying and selling land as well as homes. Prior to Real Estate, she was a Television News Reporter and Fill in Anchor. She graduated from UCF and is currently on the CFRI Board of Directors where she serves as Secretary.

by sandra edmondCFRI secretaryCFRI Business member

Guest speaker

Tax Deed Investing

Tax Deed Sale is a public auction where property is sold to the highest bidder in order to recover delinquent property taxes. The highest bidder gets a Tax Deed and immediate possession of the property.


Wasn't it William Shakespeare who said, "How do you make money in real estate?...let me count the ways." Most people think the only way to make money with real estate is to buy it and then sell it for more than you paid for it. That's not the way it works for successful Transaction Engineers. There are multiple revenue streams in almost every transaction if you know where to look! Exit Strategies are what make some investors highly success-ful while others pull their hair out. Save your hair and sign up today!

• How Buying Affects our Profits• Using Creativity to Magnify Our Income• Finding Multiple Income Streams in Rental Property• Leveraging Financing• Using Intellectual Capital Instead of Cash or Credit

Here’s What You’ll Learn:

This will be an opportunity to change your thinking from the traditional to the creative. Learn to see the possibilities in transactions, not just the spread between the purchase price and the sales price. This is not to be missed.

4 Easy Ways to Register forPHONE: 407-328-7773 FAX : 407-328-4446 ONLINE

: www.cfri.net

MAIL : CFRI, 55 Skyline Dr, Suite 2850, Lake Mary, FL 32746 Full payment must be made at time of registration. No refunds will be given for cancellations received within 7 days of this event.

the Leveraging Profit Seminar: PHONE, FAX, MAIL or ONLINE

Name(s)____________________________________________________________________Phone__________________________________________

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#______Member Registrations $49 each thru 7/19, $69 after 7/19 #______Non-Member Registrations $69 each thru 7/19, $89 after 7/19

CFRI Members: $49 thru 7/19, $69 after 7/19 Non-Members: $69 thru 7/19, $89 after 7/19

Tuesday, July 226:30 p.m. - 9:30 p.m.

CFRI Educational Center55 Skyline Dr, Suite 2850, Lake Mary

Workbook IncludedEarn 3 PHP Credits in Management

RSVP On l ine a t CFR I .ne t

Led by Augie Byllott


FLORIDA’S NEW FORECLOSURE FRAUD LAW

Legislative Cornerby Rob arnoldCFRI legislative CommitteeCFRI Business membersand dollar Realty Group, Inc.

On October 1, 2008, a new law regarding “foreclosure fraud” will go into effect in the State of Florida. The law creates a new Florida Statute 501.1377 whose requirements and prohibitions I will attempt to summarize in this article. My first suggestion to everyone is to look up the law and read the full text. You can find a copy of it on the internet by going to www.myfloridahouse.gov and searching for House Bill 643 and read the “Enrolled” version. I recommend that you review this new law with your attorney prior to entering into any contracts with homeowners in foreclosure. While this article is a quick summary of the law, I am not an attorney so this analysis is from a layperson’s point-of-view.

The intent of this bill appears to be noble in that it gives many protections to people who are in foreclosure and thus are vulnerable to being take advantage of by others. However the bill is quite detailed and has broad-reaching affects that could get even well-intentioned, ethical investors into trouble if they do not follow the law carefully.

Basically the law applies to anyone who is purchasing a residential property with a recorded lis pendens, and to anyone who is being paid to assist the homeowner in stopping or curing the foreclosure, after the lis pendens has been filed. There are a few exemptions, but in general any purchaser, including investors and owner-occupants, must comply with this law.

There are two main action items: (1) a written agreement detailing the specifics of the transaction must be signed by the homeowner; and (2) no upfront payment can be made until all foreclosure services are performed or completed.

Specific requirements for the written agreement are detailed in the new law including 12-point uppercase type and exact details regarding services and fees. The homeowner has three business days to cancel and this “cooling off period” cannot be waived. The agreement must also contain specific language that informs the homeowner in big capital letters that they may be able to re-negotiate the terms of their loan with their lender free of charge. A copy of this agreement must be given to the homeowner at least one business day prior to signing it and then a signed copy within three hours after signing it.

The law requires another similar disclosure form if the homeowner retains any interest in the property after the closing. This includes a lease-back, repurchase agreement, lease option agreement, or a land trust beneficial interest. Also in those instances where the homeowner retains an interest, there is a prohibition against buying the property “subject to” the existing loan, a requirement to verify that the homeowner can afford the new purchase price and terms (a 60% back-end ratio), a restriction on how much the price can be marked up (no more than 17% per annum), and a presumption that the transaction is really a loan and not a sale.

There are two main concerns I have with this new law: (1) An investor or an owner-occupant may unintentionally violate this law by not verifying a lis pendens was recorded, not having the required forms signed with the proper wording, or not meeting the required time frames. This specifically can affect investors buying “subject to” or working short sales. (2) What happens if during a short sale (which may take many months) a lis pendens gets recorded without the knowledge of the purchaser?

The penalties can be up to $15,000 per violation. I would not be surprised to see attorneys advertising in upcoming years for homeowners to contact them if a real estate investor “stole” their house from them or caused them to lose their house to foreclosure. Remember this article is just a summary of the new law. The law is fourteen pages long. Please read it yourself. Legal disclaimer: CFRI does not exist to render and does not give legal, tax, economic or investment advice and disclaims all liability for the actions 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.


How I got Started in Real Estate

Perspectiveby T. Argerous FilosofosCFRI Business Member TAF Group LLC

I started investing in real estate in 1974 when I bought my first property. I was working as a carpenter, and myy life was to go to work, come home, shower, go out and play all night, get a couple of hours sleep and do it all over again.

One day it was raining so my boss said to take the day off. When I got home, someone knocked on the door. It was a lady who said she was the owner of the property. She said she had not seen the property in a number of years and wanted to know if she could look around. I invited her in and showed her the place.

I told her I liked living there and if she ever wanted to sell I would buy it from her. She had been living in Hawaii and she said she did want to sell the place. She was asking $22,000 and wanted to know how much I could put as a down payment. I told her I had 90 dollars left from my pay check I could give her. She asked if I had any credit at a bank, I told her, “No, I’ve got cash.”

She said she had a friend who was a loan officer at a local bank. We went and met him and she told him I wanted to buy her house for $22,000 and needed a loan. He asked me how much I coul put down and I told him I had $90 left over from my pay check. He said he needed 10% for a down payment and asked if I had a savings account or credit anywhere. I asked both of them: “What is this thing called credit? I have $90 cash. Isn’t that better than this credit thing?”

After explaining how credit worked, I agreed it sounded like a pretty neat deal. “Someday I will get credit,” I thought to myself. The banker told me I still needed 10% to put as a down payment. I said I only had $90, but I could give another $50-$60 when I got paid on Friday. Then he said to both me and the owner, “If someone gave Arg a gift, something that he would never have pay back, he could use that as a down payment.”

“Who would give me a gift like that? I don’t know anyone with that kind of money,” I told him. He said maybe someone could give you a gift for keeping the yard in good shape for instance. I told him I never even water the yard and the grass is dying just ask the owner she was just there.

At that point the owner handed me a check for $3000 and said that she was giving me a gift that I did not have to pay back as a thank you for keeping her home in such a neat manner. I told her I could not accept the check as I had not done anything for it and that in reality the place was a mess.

She insisted and the lender kept telling me to take it to use it as a down payment. After arguing for a long time and telling them I could not take the check, finally a light bulb went on and it all began to make sense. “So what your telling me is that I can take this check, give it to you as a down payment on the house and

then you give me a loan for $19,000. Is that how this works?”

Their reply was, “Not quite.” The owner said she would raise the price of the property from $22,000 to $25,000 to make it work.

“What?” I said. “Now you’re trying to take advantage of me, you’re raising the price just because you gave me a check? That’s just not right! I’m not stupid! I would rather buy it for $22,000 than $25,000!”

After 20 minutes explaining to me that I was buying it for $22,000, it finally made sense. So the lender wrote up the papers, I signed them and went home the proud owner of a new home.

I moved out of that house a few months later. I rented the property and sold it 29 years later for $226,000 after I had refinanced it three times and had collected rent for about 28 years. I can’t tell you how much

money I made on the deal over the years. I just know that I did.

The reason I rented it a few months later was I had learned how to buy a house and I went out and did it again. This time I bought a house from a new guy whose name was HUD from Washington, DC. They asked me that credit question again. I told them I had $90 left over from my paycheck. I sold that house in December of 2007 for $205,000, I don’t know how much I made on that deal either.

That’s how I started, and it’s kind of the way I still do business. If it works, stick with it. I have made some money and lost lots of money. But when times get tough and money get scarce I just tell people, I have $90 left from my last pay check.

“I have $90 cash. Isn’t that better than this credit thing?”


“In this association, the people that are most successful do not do it alone. ”

Look and Learn From CFRI Member Deals 3 Great new deals that discuss the structure, exit strategy and lessons learned

Here it is June 2008 and another month and three new deals. That’s 18 deals since the beginning of the year. Real Estate is an ever changing business, from supply and demand, to regulations and market conditions. When you attend the Deals of the Month segment of the General Meeting, you have the opportunity to learn what deals work in today’s market.

Deal #1 – Wes BentonSome deals you just can not make happen, right-a-way. Wes found a land deal from an out of-state owner through a letter campaign. The first contact with the seller was in early 2003 but it was not until October 2007 that the seller became motivated enough to make the deal. Comps showed the lot to be worth $25-30,000 but because Wes did some research, he was able to see that the lot was sub-dividable and therefore more valuable. Wes sold the lot on the high end of his estimate to a local builder through the strategic placement of bandit signs. Yeah, they do work!

By the Numbers: Buying Contract Closed 11-20-07 $10,000 Expenses Buyer Paid closing costs $ 475 Survey $ 300 Newspaper Ad $ 18 Comparative Mkt. Analysis $ 100 Signs $ 80 Total Transaction Costs $10,973 Selling Contract Closed 4-10-08 $31,000

Net To Seller, Buyer Paid All Transaction Costs NET PROCEEDS $20,027

Deal #2 – Foster Algier Ethan Tilton called with a property he found in the newspaper. The sellers were two sisters living out of

state. They first offered the property at $80,000. Foster, through his monitoring of the market, noticed that these sellers had recently tried to sell this property through other wholesalers. One had it for $85,000 then dropped to $73,000 with no success. This information becomes helpful when analyzing and negotiating with sellers.

Foster and Ethan did further market analysis and determined that at $58,000 the deal would make sense. The sisters agreed so Foster posted the offering to his accumulated e-mail client buyer’s list, but initially there was only a mediocre response. As a result, they went back to the sellers to renegotiate.

At this same time a long-time customer of Foster’s offered $50,000, so this then made negotiations easier. Knowing what one can sell it for helps determine what one can buy it for. So now it became hard ball time. The seller agreed to $48,000, but Foster was not done yet. He went back to the buyer and said, “Have some mercy on me, I need to make a little, Okay?.... will $54,000 work?” They agreed and the deal was done.

by Bruce Hefka CFRI vice-presidentCFRI Business membersignature Inspection services, llC

Deals of the Month

(See Deals of the Month, Page 21 )


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Inspector’s Corner

What’s In Your Carpet?

by Jon BotlonCFRI directorCFRI Business memberthe Inspectagator

Inspector’s Corner

“Old carpet . . . can become a dust mite and mold micro-factory. ”

Sometimes it’s necessary to state the obvious. Old carpet, especially if not maintained, can become a dust mite and mold micro-factory. Several web sites I found, including health specific web sites,gave the analogy that carpets (and area rugs) act like a giant filter for all kinds of contaminants.

Sounds kinda gross but in the same breath, tile, wood or vinyl are just the opposite and can allow for the spread of contaminants/dust/organisms that would otherwise be trapped in the carpet. Now if cats were previous occupants in the home, they may have claimed territory in multiple places in the

carpet as well. Considering just this, the type of carpet (natural or man made) does not seem to be a critical component to inhibiting health related issues even though arguments have been made both ways. Also,

there are multiple methods for cleaning carpet including powders, shampoos and vacuums.

Now I’m no cleaning guru but I’m not sold that cleaning alone is an elixir for a product that has been puked, pooped and peed on, saturated with spilled drinks, suffered water intrusion, mold, skin flakes, dust mites, hair and is usually never maintained properly in the first place. Graphic, yeah…intentional to emphasize a point, well yeah.

Hey if we’re talking about YOUR kids rollin’ around on the carpet, I don’t think we’ll get much argument for just cleaning will we? OK… when re-habbing a house, it’s a great idea to remove all old carpet just for health’s sake. It’s not a bad idea to vacuum your old carpet before you

tear it up to minimize the dustparticles that may be created by tearing up old carpet and pad. Also ventilate the room with open windows and wear protective gloves and a mask…everyone

thereafter who shakes your hand or kisses you will appreciate it.

Let’s also state the other obvious…when you sell a property, you’ve got to put your best foot forward. If your best foot has a tennis shoe with dog poop on it, it’ll turn everybody off except those that want a deep discount.

I’ve gotta mention the not so obvious, too…check out the infrared images. For the most part, this carpet didn’t appear to be “too bad” but the anomalies made visible with the infrared make ya wonder what the heck happened!

That’s my 2¢. Give me a holler with other questions or concerns. 407.678.HOME or [email protected] we all stick together, nobody gets burned or swept under the carpet!


When my husband and I needed to move from one side of town to the other in the early 1990’s, we decided to rent our house rather than sell it due to the market conditions. We were terrible landlords and had horrible tenants. The last tenants stayed 9 years and when they moved out it was time to dump the property. I swore I would never be a landlord again!

One day, I was in the library and saw Robert Allen’s book Multiple Streams of Income and checked it out. He had some interesting suggestions and not long after I finished the book he showed up in my living room on an infomercial. He was coming to town to tell everyone how to buy property with no money down. After the profit we made selling our rental property, I couldn’t resist. Of course, Robert Allen wasn’t really coming to town, one of his “protégé” talked to us. He told us about a three day boot camp where we could learn to buy houses without any of our own money or credit. I had to go. I made money on the sale of the rental house, I could do it again, right? So, I paid my $3000 and signed up for the seminar. The instructors gave us a lot of good information in those three days and then I signed up for the “mentoring” and software package (another $5000).

I couldn’t wait to do a deal, but I was working a full time job and didn’t have a lot of time to look for properties or do any marketing. A few months later, a guy I met in the class asked me to invest in some condo conversions with

him. Now by “with him” he meant, I put up all the money, take all the risk and he did next to nothing and wanted a 50/50 split. His job was to do all the marketing since he was a “full time investor,” but his idea of marketing was Craig’s List. I can’t tell you how important it is to know your partners and have expectations spelled out before

you get involved with someone else. Needless to say that was a very expensive lesson because we didn’t sell any of them and I lost all of my deposits. It was not investing, it was speculating.

Then, I invested in a beachside property with over $100,000 in equity, or so I thought. The appraisal was for a refinance.

I learned the hard way that those are a little inflated compared to an appraisal for a purchase. The market was rapidly declining and I was totally oblivious to it. We tried to wholesale the property to an investor that was using other buyer’s credit to purchase the property and they would then get cash back

at closing and strip all the equity out of the property. I guess I was lucky that at

the last minute the buyer’s credit was rejected by the mortgage company, because I’m pretty sure they were trying to commit mortgage fraud

and I probably would have ended up in an orange jumpsuit. I have been

informed since then by Dave Heine of PCS Title of the ins and outs of mortgage

fraud so that won’t happen again. Thanks Dave! After investing the time and money into rehabbing the property, it sat on the market for a year and I finally sold the house for a loss.

I’m not telling you all these tragic stories to keep you from investing in real estate, I’m telling you so you won’t make the same mistakes I made. I know you have all heard it a hundred times, but DON’T USE YOUR OWN MONEY OR CREDIT TO INVEST IN REAL ESTATE! The gurus and

experienced investors really know what they are talking about when they say these things. It pays to listen and become educated before you make your first investment. If you do it the correct way, you know you make your money when you buy and you will make sure you are

buying right! I am pleased to say that after being involved with CFRI for two years and learning the correct way to invest, I now have a home with a lease option tenant in it and I am closing on the sale of another house to make my official first profit.

How Not To Be A Real Estate Investor

the unknown InvestorCFRI member

Perspective

“It pays to listen and become educated before you make your first investment. ”


The Five Building Blocks of Staging (Part One)

Cherie vuongCFRI Business memberFranklin Run, llC

staging

“Money spent on staging brings around a

169% average return on your investment. ”

Of all the houses buyers will be touring, how can yours stand out and be remembered? Great staging, of course! You should keep in mind that money spent on staging brings around a 169% average return on your

investment, so it is well worth formulating a good plan to make the most of your home’s image.

First consider your price point and neighborhood. Is your home on the average working class side of the market or in a lavish gated community? Our general rule is: the more expensive the home, the more rooms should be staged and the more elaborate it should be.

There are several building blocks to really great staging:

1. Clean, clean, clean 2. Good lighting 3. Appropriately sized/placed furniture/accessories 4. Window treatments 5. Finishing touches

First, the house must look and smell fresh and new. For example, all hygiene and wet areas should be free of hard water stains, mildew, etc. All lighting fixtures must be free of debris and bugs. Windows must sparkle inside and out. Check inside all cabinets, as your buyers surely will. If you must keep cleaning items on hand, make sure they are neatly placed far back in the cabinet to show off how much room is left inside.

In addition, construction and remodeling leftovers such as dust, paint drips and tools must be removed. The idea is to sell a remodeled home as NEW. Evidence of the remodeling such as a brand new ceiling fan coated with construction dust screams that the home was refurbished.

Also an invasion of any type of pest will be noticed by the buyer immediately. Eradicate any evidence of pests and check on your property regularly to ensure no unwanted creatures have moved in before your buyer can.

Finally, the air in all rooms must be pleasantly fresh and free of humidity. Use the air conditioner! If the buyer is uncomfortable looking around while it’s ninety degrees and humid inside, they may be prompted to leave immediately. Spend money on electricity now, or spend it on holding costs while your property sits without being toured and no offers are made. Regular use of your central heat and air will also help ensure mold and mildew are kept at bay.

The next step in the staging process is lighting. All rooms must have good lighting both natural and artificial. Trim outside foliage as needed to allow light to come in from all windows. Any bedrooms or offices that never had light fixtures installed

probably have an outlet that is operated by a switch. Use a floor lamp on that outlet that is simple and bright.

The bathrooms must have lighting that fills the whole room, not just the vanity area. If you need more light near the tub or shower area, then have it professionally installed.

The kitchen also must be bright and sunny. Avoid anything, including curtains, covering the kitchen window if there is one. Also, consider using under cabinet lighting in upscale homes.

Furthermore, the living room should have lots of lamps and overhead light. Floor lamps, table lamps and a lighted ceiling fan or pretty light fixture complete the look.

Finally, the dining room should have a chandelier appropriate to the size of the room. Make sure to hang at appropriate ceiling height. The chandelier should be at about eye level when standing next to it. Also, make sure the finish matches other finishes in the room. Check for and replace burned out bulbs in all rooms, including closets, in a timely manner. Remember ALL lights should be on for ALL showings.

In part two, we will discuss the last three steps, including arranging furniture. The goal is to maximize your home’s potential by showing off features and benefits through good staging. Show the buyer how they can live there!


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As an investor doing an assignment of contract there was no real dollars invested in the deal but yet money was made. Be sure to have an equity interest in the property if you are going to do this type of investment lest you be accused of selling real estate without a license.

Deal #3 – Kimberlee FrankKimberlee is a resident short sale guru, an she and Hunter Paschal have made the best of this market. They have made some money and helped others make some as well. One of the things that I see over and over again in this association is the people that are most successful do not do it alone.

This deal came into their office from a bandit sign. The lead came in August 6, 2007 and it closed June 4, 2008. The “short” in short sales does not refer to time in getting the deal done. Here is the deal by the numbers on a short sale property in Clermont, Florida.

Balance owed to first mortgage Home Equity $179,000Balance owed to second mortgage Bank of America $ 58,000Total $237,000

Buyer is student’s brother for $155,000Contribution towards closing costs $ 9,300Payoff of 1st mortgage ($53,000 Disc.) $123,000Payoff of 2nd mortgage ($51,000 Disc.) $ 7,000Additional Closing Cost $ 5,000 =========Total Profit $ 10,700

Besides the profit made on this deal here is a bullet list of benefits to parties involved:

• The lender gets back to the business of lending and no longer has “reserves” issues• In this case both mortgage companies waived any deficiency judgment against the distressed homeowner -Total Discount $104,000.00• Seller saved from foreclosure

Short sales can be long and frustrating. The procedure has a number of specialized terms and nuances that can become road blocks if not maneuvered correctly. Get some training or partner on a few of these prior to doing them on your own. Helping others ultimately helps you! Congratulations to all participants; and until next month – Happy Investing!

Presenters receive the admiration of fellow members along with a presenter’s certificate, plus a gift card for Home Depot. I hope you enjoyed last month’s dealmakers! Next month is it your turn? Contact me so we can get you on the schedule as a presenter. Bruce Hefka at: [email protected] .

July - August - SeptemberSPECIAL

ADvERTISERS DOuBLE YOuR COvERAgE

Pre-pay for a ½ page or full page ad

for 3-6 months in the newsletter

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DEALS OF THE MONTH (continued from page 15)

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type of Business Company Name Phone Website Primary Contact

Business Member directory visit www.CFRI.net to learn about the benefits of membership

1031 exchanges vesta strategies 1031 exchange 877-335-1031 www.vestastrategies.com drew monaghan1031 exchanges Ipx1031 exchange 407-841-1641 www.Ipx1031.com Rich Behrleappraiser - Real estate sunbelt appraisals, Inc .407-574-7091 www.sunbeltappraisal.org alex olmoappraiser - Real estate J Rose appraisal Group 407-671-8860 www.jroseappraisal.com Joann tuttinappraiser - Real estate mark traugott 407-342-6586 mark traugottattorney anthony ortego, p.a. 407-215-1888 www.ortegolaw.com anthony ortegoattorney Robert lerner, attorney at law 407-767-0099 www.boblerner.com Bob lernerattorney Joseph e. seagle, pa 407-770-0100 www.seaglelaw.com Joseph seagleauctioneer priority auction, llC 407-782-3605 Beth Kellyauctioneer Jim Ferrell’s Fun live auctions 407-765-4682 www.JimFerrellauctions.com Jim Ferrellauctioneer tranzon driggers 407-682-1411 www.tranzon.com Kurt ChanaBank Regions Bank 407-365-4889 www.Regions.com deepak maharajaBank Bank of america 407-973-0023 John JohnsonBank Wamu 407-522-1326 www.wamu.com Karen noboaBuilding supplies & materials Contractors Best of daytona 386-761-2800 Jeff BohrBuilding supplies & materials Quality affordable Cabinets 407-427-0542 david BrockBuilding supplies & materials Contractor’s Best of orlando 407-291-7773 www.cborlando.com John sciandraCleaning services sparkle Cleaning & maid service 407-925-5383 errol KnightConsultant - Financial Commercial alliance Group, Inc. 407-330-3062 www.commercialalliancegroup.com paul GiovannettiConsultant - other pegasus Financing, Inc. 407-281-7822 www.pegasusfinancing.com larry RumboughContractor - air Conditioning Bowers enterprises, Inc. 407-682-1535 www.bowersent.com Chuck BowersContractor - General aR Construction & Realty, Inc. 407-324-8930 [email protected] andrew RolleContractor - General Weldon & associates, Inc. 386-873-0020 www.weldonassoc.com Christopher WeldonContractor - General mcCarthy design and Construction 407-761-5053 Jere mcCarthyContractor - General Ryka llC 407-709-4539 www.numberonehandyman.com eric powellContractor - General Big dawg Building Co., llC. 954-275-4786 John GallinaContractor - Roofing alan’s Roofing Inc. 407-645-1748 www.alansroofinginc.com david RogersContractor - Roofing shand’s Roofing 352-223-6763 www.shandsroofing.com Jeff maxsonContractor - sewer & septic Green’s environmental services, Inc. 407-673-8700 dominic BuhotCpa small Business Resources usa, Inc 407-298-4646 James duerr, CpaCpa Glickstein laval Carris pa 407-645-4775 shep Burr, CpaCredit Repair Credit Justice svcs - Consumer Credit Resolution llC 407-865-9862 www.ConsumerCreditResolution.com priscilla parkeFlooring pro source of orlando 407-293-2969 Robert KiserForeclosure Research service Information Resource services of Florida 407-234-4856 www.irsfl.com Gail GatesInspections mark’s Guaranteed Home Inspections 407-629-6640 www.marks3.com mark ormanInspections signature Inspection services, llC 407-697-7213 www.signature-inspections.com Bruce HefkaInspections the Inspectagator 407-678-4663 www.inspectagator.com Jon BoltonInspections - termites thee Inspector llC 407-402-6493 www.theeinspectorllc.citymax.com Craig JohnsonInsurance Igee, Inc. 407-574-3886 ernesto ReyesInsurance Florida Insurance specialists 407-805-0200 www.floridainsurancespecialists.net John tankersleyInsurance today’s Insurance solutions, p.a. 407-982-1200 www.todaysinsurancesolutions.com Brewa KennedyInsurance Family First Insurance 407-340-4324 Gary pierreInsurance - life & Health aFlaC 407-970-1719 adrienne Watkinslandscape services Bloomers llC 407-312-4495 Bekah Keyesmarketing Finance this Home.com 407-210-6509 www.financethishome.com paul mahanmarketing www.Yield-more.com 407-599-4446 www.yield-more.com Robin Butlermortgage Reduction united First Financial - Clark Investment Group 407-295-0961 www.yourmortgagesecret.com James Clarkmortgage Reduction united First Financial - michael antonio Inv Grp 407-254-5009 www.u1stfinancial.net/wealthvision michael lahrismortgage Reduction united First Financial - tpm & assoc. 352-357-9310 www.tpmassociates.com patrick talleymortgages suntrust mortgage 407-622-7741 www.suntrust.com/scohen stephanie Cohenmortgages British Home loans Florida Inc. 407-876-0055 Bill Cowiemortgages Gateway mortgage Group 407-321-4066 www.groupgateway.com Christopher erssonmortgages Capital mortgage Financial Group 407-694-3050 Jonathan Czarnymortgages ameriscott mortgage 877-898-2121 www.ameriscottmortgage.com Joe Garbaravagemortgages Residential Home loan Center 410-366-2200 www.3percentjumbo.com effrey Hinesmortgages Quid Quo mortgage 407-977-1287 www.quidquomortgage.com Joseph nemchikmortgages Countrywide Home loans 407 643 2900 WWW.findyourhomefree.com lynette Warrenmortgages nlC 352-536-9106 mark Fishermortgages Global equity lending 321-663-5055 www.wlgweb.com pat Glennmortgages Blue Chip mortgage Wholesale 561-547-6575 www.bluechiponline.com Richard mcmillanmortgages national City mortgage 800-329-5100 www.wearethelender.com tom ulbrichmortgages mortgage professionals of Central Florida 407-330-2855 http://www.mortgageFlorida.biz Fern Burrmortgages - Hard money affordable Home loan Corp 866-940-7283 www.floridamortgageanswers.com Ryck Hundredmarkmortgages - Hard money volusia asset Co, llC 407-869-7888 www.volusiaassetcompany.com Joy Zerivitzmortgages - Hard money summit Financial services, llC 407-629-2333 www.summitfinancialservices.com paul Williamsonmortgages - Hard money san Jose Investment Corp of america 407-766-1849 www.sanjoseinvestment.com adam sleapmortgages - Hard money nvestors mortgage 386-736-3511 www.investorsmtg.net pat Kiehlmortgages - Hard money Happy Home lending Corp. 305-362-0404 www.happyhomeflorida.com Ronnie Hernandezmortgages - Hard money Barksdale Financial associates llC 407-322-8912 www.barksdalefinancial.instantlender.com William Barksdalenote Buying/Brokering Hux 2 u Investments, Inc 407-267-3258 www.hux2uinvestments.com Brent Huxtablenote Buying/Brokering H&m note service Inc. 866-594-2676 www.cash4cashflows.com/kgough Kenneth Goughoffice space elite suites at veranda park 407-472-3901 www.elitesuitesvp.com victor Castellanosprinting/mailing services Royal press 407-332-8320 www.rp-printing.com luis Quiroz


Business Member directorytype of Business Company Name Phone Website Primary Contact

visit www.CFRI.net to learn about the benefits of membership

property management excel Realty 407 696 7300 Jerry RebelReal estate Brokerage the titan Group Inc 407-566-9495 www.quickclosebuyer.com Christian BohynReal estate Brokerage arthur Kowitz Realty 386-677-3913 www.invest-pros.com arthur KowitzReal estate Brokerage sand dollar Realty Group, Inc. 407-389-7318 www.sdRhouses.com Rob arnoldReal estate Brokerage exit Real estate Results 321-946-1004 www.modifyHomes.com Kelly JohnsonReal estate Brokerage Revalue properties Inc. 407-862-1140 www.revalueproperties.com stephen FlewellingReal estate Brokerage list Right Realty, Inc. 407-888-9484 www.marilynsinger.com marilyn singerReal estate Brokerage mighty Realty Inc. 407-403-6540 www.mightyrealty.com aaron mightyReal estate Brokerage Keller Williams - Karen arlick’s team 352-536-6133 www.Karenarlick.com Karen arlick, p.a.Real estate Brokerage sun Crest Florida properties 407-876-3615 www.suncrestfloridaproperties.com mary Cubelo-HintonReal estate Brokerage tCat Realty services 407-290-5633 www.tcatrealty.com Rick tresslerReal estate Brokerage Fern C. Burr, Realtor 407-330-2855 Fern C. Burr, RealtorReal estate Investments sunshine Home Investors 352-516-5235 trish pospisilReal estate Investments Florida discounted Homes 386-341-0280 Jennifer simpsonReal estate Investments orange Blossom land Company, Inc. 561-395-5688 larry morrisReal estate Investments H.p. Investment Group Inc. 407-834-1325 www.hpinvestment.com Hunter paschallReal estate Investments ReHaBlIst.com 407-222-7418 www.rehablist.com Gerald RogersReal estate Investments popcorn properties, llC 888-564-5350 www.chuckbuyshouses.com Chuck pettyReal estate Investments dreamQuest Home partners, llC. 407-260-1953 scott BantaReal estate Investments taF Group llC 407-399-4671 www.tafgroupllc.com argerous FilosofosReal estate Investments Central Florida property Group 407-579-0590 andrew mohrReal estate Investments Compass property development 407-996-2840 www.Compasspropertydevelopment.com Cleberto CopettiReal estate Investments Horak & lugar properties Inc. 386-295-4909 George HorakReal estate Investments ormond Beach Investments 386-235-6864 Jim dupreReal estate Investments Jlp Investment properties, Inc. 407.538.7012 www.homevestors.com Joe periReal estate Investments speedy acquisitions 407-383-0281 Jacob WrightReal estate Investments asap Investments 321-296-5176 www.asapinvestments.com Kimberlee FrankReal estate Investments Bella street properties 407-766-7116 www.bellastreetproperties.com linda streetmanReal estate Investments Catamount Investment Group 407-401-7004 www.therealestatecapitalist.com michael aubutReal estate Investments portfolio management Group 407-860-8873 www.portfoliomanagementgroup.net maritza diazReal estate Investments House Hunters, l.C. 407-695-5151 Rob BrodskyReal estate Investments Certified Homes llC 321-439-8784 www.certifiedhomesflorida.com Ralph estevesReal estate Investments RRm Investments 407-869-0256 Ronald GrayReal estate Investments letsgo land llC 561-623-5473 www.letsgollc.com tim GraceReal estate Investments Big apple International Realty 321-322-1100 www.bigappleinternational.com William peterseimReal estate Investments eck Financial & Investment Group 407-247-4811 www.eck-financial.com Gene ecklesRepair & Renovation Home Fixers orlando 407-929-0755 www.homefixers.com Greg ClarksonRepair & Renovation pioneer Construction 407-461-0404 daniel lunsfordselect Business type a-Z Reconstruction, Inc. 407-230-8225 sherry nagy-Hallself directed IRas entrust administration services, Inc. 407-367-3472 www.entrustfl.com Glen matherself directed IRas equity trust Company 440-323-5491 www.trustetc.com Jeff desichsigns east Coast signs & award 386-672-7018 www.eastcoastsignsandawards.com tom Ripplestaging Franklin Run, llC 407-443-4506 www.franklinrun.com tom vuongstaging simply staging, Inc 407-470-9799 www.simplystaginginc.com aubrey moultrystaging elite Concepts staging 321-946-1702 www.myeliteconcepts.com dawn montemayortenant screening Florida landlord network 904-371-9357 www.flalandlord.com paul Howardtitle Company park place title, Inc. 407-897-6999 www.parkplacetitleinc.com Barbara stewarttitle Company pCs title 407-447-9100 www.pcstitle.com dave Heinetitle Company Realty advantage title 407-629-7676 Kirsten Hendrickstitle Company summit title services 407-420-2190 www.summittitleservices.com lynne Crottytitle Company Florida title & abstract 407-869-6000 mark allentitle Company liberty title Insurance Group, Inc. 407-657-1117 www.libertygroupfl.com R.J. oropesatitle Company Bold title Group 877-907-5077 scott siegeltitle Company sunshine title of Central Florida 407-253-1127 www.sunshinetitle.org t.J. murvintitle Company Gateway title & escrow Group 407-321-4066 www.gatewaytitlegroup.org sue Registertitle Company southeast professional title 407-539-0781 www.southeastprofessionaltitle.com deborah Farnelltitle Company Cityline title of longwood 407-215-1888 anthony ortegoutility Company progress energy 800-254-8535 www.progress-energy.com Roderick pasteurWebsite/technology services Fountain Capital Group 407-671-4050 www.popbop.com Jim ReadWebsite/technology services Webout technologies 321-436-9518 www.floridawebouts.com George tsafoniasWholesale properties the Feol-Hinricher Companies 901-725-6825 www.fhcompanies.com Chip FernandezWholesale properties Reinvestorwarehouse.com 407-521-7392 www.reinvestorwarehouse.com Ron pruittWholesale properties premier property solutions 407-282-8546 www.dealsforsteals.com Ben YongeWholesale properties ReadyCashHomes.com 407-965-5022 www.readycashhomes.com anthony asenjoWholesale properties First alliance Capital 407-897-0911 www.firstalliancecap.com Foster algierWholesale properties mid florida investment properties llC 407-366-3106 michael CalvertWholesale properties new Beginningz Real estate Group 321-690-0744 www.nBHomedeals.net anthony KuskyWholesale properties allen properties of Central Fl, Inc. 352-536-9629 www.allenpropertiesInc.net Fred allenWholesale properties Realty1one of Central Florida, Inc. 407-520-3630 www.realtydebtsolved.com tony vargasWholesale properties Realty venture Capital angela Bier


* open to all CFRI member.s, provided there is available space. to participate in a Focus Group, login to www.CFRI.net and register for the meeting each month thorugh the online calendar. † open to advanced, investors only;, this group is currently full. CFRI member. Contact [email protected] if you are interested in leading a new advanced Investors Focus Group.

Upcoming eventskEY

seminars subgroups focus groups meetings

Register for Seminars and Focus Groups On-Line at www.CFRI.net

July 2 CENTRAL FLORIDA REALTY INVESTORS GENERAL MEETING Meets from 6:00 - 9:30 p.m. at the Plaza Theatre, 425 N. Bumby Ave., Orlando, FL 32803. See page 4 for details. Check-in starts at 5:30 p.m. (First Wednesday of each month)

July3 CFRI NEW MEMBER ORIENTATION MEETING New business members meet from 6:00 – 7:15 p.m. New general members meet from 6:30 – 7:15 p.m. at the CFRI Educational Center, 55 Skyline Dr, Suite 2850, Lake Mary, FL 32746. See page 4 for details

July 3 * TAX-DEFERRED REAL ESTATE INVESTMENTS (Focus Group) Primary focus is learning how to fully utilize self-directed IRA’s and 1031 exchanges. Meets in Altamonte Springs. Hosted by Ron Pruitt. (First Thursday of each month)

July 3, 10, † ADVANCED INVESTORS (Focus Group Full – Closed to New Applicants) Experienced investors meet for lunch weekly to network, buy, sell, and listen to speakers. Meets at noon at an Orlando restaurant. Hosted by Robin Daniels. (Every Thursday)

July 7 * ATTITUDES OF WEALTH (Focus Group) NEW GROUP Mindsets, attitudes, books to read, book review, business goals, business lines of credit, technology issues to enhance your business and more along this line of positive thinking! Meets first or second Monday of each Month at 6:30 p.m. at the CFRI Educational Center, 55 Skyline Dr, Suite 2850, Lake Mary. Hosted by Chuck Petty.

July 8 * QUICK-TURN REAL ESTATE (Focus Group) Buying and reselling properties quickly to generate fast cash. Advanced wholesaling and retailing. Meets at 6:30 p.m. in Lake Mary. Hosted by Scott Pavich. (Second Tuesday of each month)

July 9 CFRI LAKE COUNTY (Subgroup) Meets at 6:30 p.m. at The Holiday Inn Express, 1810 South US 27, Clermont. Hosted by Fred Allen, call 321-278-9916 or email [email protected] (Second Wednesday of each month)

July 9 * MONEY 101 (Focus Group) Identify and explore how alternative (non-bank) money can work for you; a “clearing house” for funding ideas. Meets at 6:30 p.m. in Lake Mary. Hosted by Patrick Talley and Nora Gregory. (Second Wednesday of each month)

July 10 CFRI SEMINOLE COUNTY (Subgroup) Meets at 6:30 p.m. at the CFRI Educational Center, 55 Skyline Dr, Suite 2850, Lake Mary. Hosted by Greg Clarkson, call 407-929-0755 or email [email protected] (Second Thursday of each month)

July 12 SEMINAR: MILLION DOLLAR ATTITUDE Seminar led by Chuck Petty. Earn 3 PHP credits in MANGEMENT. See page 6 for details or call 407-328-7773

July 14 CFRI BOARD MEETING Meets at 6:30 p.m. at the CFRI Educational Center, 55 Skyline Dr, Suite 2850, Lake Mary. Non-board members must RSVP to attend. Call 407-328-7773

July 14 CFRI OSCEOLA COUNTY (Subgroup) Meets at 6:30 p.m. at Ramada Orlando Celebration Resort (formerly The Orlando Sun Resort & Convention Center), 6375 W Irlo Bronson Hwy (aka US-192), Kissimmee. Hosted by Augie Byllott and Leroy Walwyn, email [email protected] (2nd Monday of each month)

July 14 * WOMEN INVESTORS (Focus Group) Discuss issues that women face in the real estate investment business and how to support each other. Meets for lunch at 11:30 a.m. in Orlando. Hosted by Cheryl Rainer, email [email protected] (2nd Monday of each month)

17, 24, 31


seminars subgroups focus groups meetings Upcoming events

Can’t find a group that fits your interests? Start a focus group of your own! Contact Audrey at [email protected] to learn more about the requirements for becoming a Focus Group Leader.

July 15 CFRI BREVARD COUNTY (Subgroup) Meets at 6:00 p.m. at The Veterans Memorial Center, 400 S Sykes Creek Pkwy, Merritt Island (behind Merritt Square Mall). Hosted by Charles Fischer, call 321-459-9998 or email [email protected] (Third Tuesday of each month)

July 16 CFRI ORANGE COUNTY (Subgroup) Meets at 6:30 p.m. at the Orlando Sentinel Building, 633 N. Orange Ave. Park your car in N. Orange Ave parking lot, and enter the building from the entrance facing Colonial. Hosted by Doug Mascio, email [email protected] or call CFRI at 407-328-7773 (Third Wednesday of each month)

July 17 * MARKETING FOR INVESTORS (Focus Group) SPECIAL MEETING DATE IN JULY. Explore a variety of marketing techniques that investors can use. Meets at 6:30 p.m. in Lake Mary. Hosted by Heather Pavich. (Third Thursday of each month)

July 19 * REAL ESTATE INVESTING 101 (Focus Group) SPECIAL MEETING DATE IN JUNE. WILL MEET WITH MARKETING GROUP. Created to help new investors explore the techniques and skills needed to invest in real estate. Meets at 6:30 p.m. in Lake Mary. Hosted by Audrey Byllott. (Usually the last Saturday of each month, subject to change)

July 21 * LATIN BEAT (Focus Group) This group explores ways to meet the needs of the Hispanic community, primarily focusing on Short Sales and REOs. Hosted by H. Iván Salvador. (Third Monday of each month)

July 22 SEMINAR: LEVERAGING PROFITS WITH EXIT STRATEGIES Seminar led by Augie Byllott. Earn 3 PHP credits in MANAGEMENT. See page 10 for details or call 407-328-7773

July 24 SEMINAR: INVEST IN TAX DEEDS Seminar led by Sandra Edmond. Earn 3 PHP credits in LOCAL REGULATIONS. See page 8 for details or call 407-328-7773

July 24 * PRIVATE MONEY (Focus Group) Discuss opportunities to lend and borrow money for real estate investing. Meets at 6:30 pm in Cocoa. Hosted by Ravi Shah. (Fourth Thursday of each month)

July 28 * REAL ESTATE INVESTMENT TECHNIQUES IN FOUR CORNERS (Focus Group) Meets at 6:30 p.m. in Davenport, NE Polk County, to explore utilizing different investment techniques in Davenport. Hosted by Augie Byllott, email [email protected] (Fourth Monday of each month)

July 29 * COMMERCIAL & LAND DEVELOPMENT (Focus Group) Explore land development and different aspects of commercial investing. Meets at 6:30 p.m. in Lake Mary. Hosted by Scott Banta. (Last Tuesday of each month)

July 30 * BUSINESS/TAX STRATEGIES FOR INVESTMENT PROPERTIES (Focus Group) Real estate investing with an emphasis on entity structuring and varying tax treatments. Meets at 6:30 p.m. in Orlando. Hosted by James K. Duerr, CPA, email [email protected] or call 407-298-4646. (Meets the last Wednesday of each month)

July 31 CFRI VOLUSIA COUNTY (Subgroup) Meets at 6:30 p.m. at the International Christian Centre, 101 Indigo Drive, Daytona Beach (behind The Holiday Inn Express. Last Thursday of each month)

QUICK START (SHORT TERM FOCUS GROUP) that normally meets after the New Member Orientation Meeting will not meet in July and August.


31 vOLuSIA COuNTY 6:30 p.m.

† ADv. INvESTORS

2gENERAL MEETINg 6:00 p.m.

3 ORIENTATION 6:00 p.m *TAX DEFERRED † ADv. INvESTORS

4 5

6 8*QuICk TuRN R.E. 6:30 p.m.

9Lake COuNTY 6:30 p.m.

* MONEY 101 6:30 p.m.

10 † ADv. INvESTORS

* SEMINOLE COuNTY 6:30 p.m.

11

12SEMINAR: MILLION DOLLAR ATTITuDE 9:00 a.m.

13

14WOMEN INvESTORS11:30 a.m.

CFRI BOARD MEETINg 6:30 p.m.

OSCEOLA CTY 6:30 p.m.

15BREvARD COuNTY 6:30 p.m.

20 21* LATIN BEAT 6:30 p.m.

22SEMINAR: LEvERAgINg PROFITS. 6:30 p.m.

23.

24 SEMINAR: INvEST IN TAX DEEDS. 6:30 p.m. † ADv. INvESTORS* PRIvATE MONEY 6:30 p.m.

25.

26

27 28R.E. INvESTMENT TECHNIQuES IN FOuR CORNERS 6:30 p.m.

29* COMMERCIAL & LAND DEvELOPMENT 6:30 p.m.

30 * BuSINESS/TAX STRATEgY 6:30 p.m

sunday monday tuesday wednesday thursday friday saturday

7 *ATTITuDES OF WEALTH 6:30 p.m.

1

On the Down Lowby Jon BotlonCFRI director

CFRI Business memberthe Inspectagator

Sticker on this Winter Park condensing

unit reads “IMPOTANT For most efficient

operation, keep unit cleared of ice and

snow.” How ironic!

Check UPCOMING eVeNts for more information July Calendar

16 ORANgE COuNTY 6:30 p.m.

17 † ADv. INvESTORS

* MARkETINg FOR INvESTORS 6:30 p.m.

18 19* RE INVESTING 101


Central Florida Realty Investors55 Skyline Drive, Suite 2850

Lake Mary, FL 32746www.CFRI.net

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PaIdMID-FL, FL

PERMIT NO. 737

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True wealth lies

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July 12

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