Investment News MI D - A ME R I C A A S S O C I A T I O N O F R E A L E S T A T E I N V E S T O R S

October 2011 NETWORKING : EDUCATION : COMMUNITY

DO NOT PASS

GO!

the greatest

opportunity to acquire wealth

our generation may ever see!

Andy Heller Is teaching long term

wealth building model

October 22nd

Honors

Of Merit

2011

Electronic

Communication

&

Membership

Development

Page 2 MAREInet.com

MAREI Notes

Contact Information

PO Box 8685, Prairie Village KS, 66208

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

Our Mission Statement Mid-America Association of Real Estate Investors is dedicated to promoting ethical real estate in-

vesting and to protect and promote the best interest of our membership through educational and

networking opportunities as well as community, legislative and public relations.

Legal Disclaimer MAREI does not exist to render and does not give legal, tax, economic or investment advice and

disclaims all liability for the action or inaction taken or not as a result of communications from or to

its members, officers, directors, employees and contractors. Each individual should consult his/her

own counsel, accountant and other advisors as to legal, tax, economic, investment and related

matters concerning real estate and other investments.

Content Disclaimer The views and opinions expressed by authors of articles contributed to this newsletter do not neces-

sarily reflect those of the association, the board of directors or the staff.

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Investment News Page 5

MAREI Staff

Kim Tucker 816-523-4400

Director

Kim@MAREInet.com

Don Tucker 816-523-4400

President

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Steve Burns

Audio Visual

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Scott Tucker

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STucker319@gmail.com

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info@MAREInet.com or call 913-815-0111.

Special Thanks to Marty Seiss and Melissa Wurtz for their

assistance this past month.

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BUSINESS MEMBERS

ADDRESSING THE NEEDS OF

marei

Real Estate Investors and Landlords depend on a well

rounded team of professionals. If you are building your

team or looking to make a trade, start your recruiting with

our Vendor Members and Business Associates. See a

complete list of suppliers and any discounts they may of-

fer to MAREI members by visiting, www.MAREInet.com.

http://mareinet.com/associates

Type Company Web Phone Contact

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

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

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

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

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

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

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

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

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

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

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

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

Investment News Page 3

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In This Issue

MAREI Business Members 2

MAREI Meeting Staff 5

Notes from Director 6

Fraud in Real Estate 8

Real Estate: the Perfect Storm 10

Risk vs Reward: Protect Yourself as a

Landlord

12

Coalition for Sensible Housing Policy 14

Market Data: Investing Research 16

Top Tips for Landlords 20

MAREI Calendar of Events 22

Registering for MAREI Events 24

Classifieds 25

New & Renewing Members , Guests 26

Contents MAREI News

Speed Networking

In December

next page. The trainers in these places might charge you

$500 to $2000 for a home study course, maybe $1000 to

$3000 for a bootcamp.

What you need to realize is that these pitch people, who

are bypassing your REIA group and going straight to your

newspaper, TV, mailbox, or email in box, bypass your REIA

group for a reason. If they came through the REIA group

(1) they probably would not get pass the REIA groups gate

keeper because of the quality of their training and cost and

(2) if they did get in to speak at your group, the REIA lead-

ers would probably be telling you it was a big rip off. Myself

I have seen these pitch people offer a free 2 hour hype at a

local hotel on how easy it is to get rich. The sell you into a

$300—$500 week-end with some books and a lot more

hype on how easy it is. What I don’t get is that if it is so

easy and if you can get so rich, why I need to spend an-

other $10,000, $20,000 or more to find out how to do it,

why can’t I figure it out from the 3 day training I just at-

tended and all the books and tapes they already sold me.

These weekends sometimes have good material, and

sometimes don’t. But still you really need to spend another

$5,000, $10,000, $20,000, and more because you really

can’t get rich unless you invest money in your education.

And I agree, you do need to invest in training, but why

spend $20,000 on something that really is basically the

same training you could buy from trainers vetted by your

REIA group for much less. It probably has a fancier pack-

age and comes with some highly trained sales people fol-

lowing up with you to tell you that you are going to be rich

in real estate, but you really need to spend another

$20,000 for this or than! To top it all off, many of these

pitch people don’t invest in real estate . . . Imagine that . . .

And are just repackaging materials they bought from the

guy that spoke at your REIA last month.

For example, this month MAREI has a training person com-

ing in to speak: Andy Heller. He will be offering real, valu-

able training at the Saturday event and he will be selling his

training course that he and his partner created. But know

this, His course runs around $2000 according to his web-

site and I know he does not have a staff of phone sales

people following up with you trying to sell you something

else. He comes highly recommended from many REIA’s

and their members from across the country and he does in

fact invest in real estate. .

Kim Tucker

I recently opened my mail box to find a

special invitation to a “Private Pre-

Auction Event”. “The invitation goes on

to say “smart investors are making mil-

lions from tax deed auctions, foreclosure

flips, and pre-auction events.”

As I read through the invitation I can’t quite figure out what I

am being invited too? Is it an pre-auction event in advance of

a tax deed auction, where the speaker is going to train me on

tax deed auctions. Hmm, those have already passed for

2011 here, so that can’t be it. They might be going to train

me, or sell me training on how to do a foreclosure flip before

an auction, but still when is the auction? There are no large

auctions planned in Kansas City as those always end up in

the Kansas City Star and in my email in box. So back to the

invite. It also says we can make millions from attending this

pre-auction events. But again I am stumped as to what this

event is—is it how to make money or is it an auction. What

ever it is, I can go for free, it’s limited to 100 attendees, I

could win an I-pad, and it will be “eye opening.”

Great, but what is it. So my next task was to check this event

out a bit more. As we will talk about at the Tuesday Meeting

we should check out everything before we spend, and I am

sure at this event, what ever it is, they will have a huge eye

on my credit card and check book. . . So let’s check this out

and see what he is all about.

So my next step was to head off to my good friend “Google”

and see what it had to say about this event. After a few clicks

I start seeing a lot of promos for this guy and others with simi-

lar events all across the country. Not really any positive feed-

back, but a lot of negative feedback. In fact on one webpage

from this promoter, there is a notice that he is violating Cana-

dian real estate laws by acting as a broker in a real estate

transaction without a real estate license. Then I found a

blogger that described a past pre-auction event from last

year. He said it really did not feature the guests speakers

promoted except via recorded video. That it was presented

by polished pitch people telling you how easy it is to get rich

in real estate and how much banks want to sell you their

houses. Now if you have a couple of hours to kill and want to

go get your free camera (and it looks like a free one in the

photo too) and a chance to win an I Pad, well great. But from

what I am seeing you are not going to learn a whole lot and a

few people are going to leave with less money in their pocket.

As a practicing real estate investor for almost 12 years now, I

am all for education: go buy a book, go to your local real

estate investment groups meetings and trainings, even buy a

training course or a bootcamp, or check out MAREIU on the

Director’s Notes

Page 6 MAREInet.com

Investment News Page 7

www.MAREIU.com

www.MAREIU.com

Page 8 MAREInet.com

Fraud in Real Estate

Kansas City

The Kansas City Star reported on 10/4 that ―A

former Lee’s Summit real estate agent will

spend 20 months behind bars and must pay

more than $5.6 million in restitution for a mort-

gage fraud scheme that left banks holding bad

loans and caused property values to plummet.‖

The ―builder involved in the scam was sen-

tenced to 2 1/2 years in prison and ordered to

pay restitution of more than $5 million for his

role in the scheme including mortgage fraud,

wire fraud, and transferring funds obtained

across state.

The FBI found that a woman from California

and a man from Florida helped three people

build false credit histories so they could obtain

fraudulent loans. These were the straw buy-

ers and all were sentenced for using false

numbers to artificially raise their credit scores,

allowing them to purchase six properties

worth more than $2.7 million.

October Monthly Meeting:

Tuesday October, 2011, 6pm to 9pm

Career Education Systems,

FREE for members, Guests $25 at the door, $15 if you

pre-register

Don’t miss this event!

Monthly Meeting

Agenda

5:40 Premeeting—Market Report

6:00 Check in / Vendors / Networking

7:00 Announcements / Q & A w/ Andy Heller

7:30 Presentation

Investment News Page 9

Due Diligence

Considering a Transaction

Considering doing business with someone.

Check them out First

————————

Check County Records for Ownership of Property

Check Secretary of State Web-site for Company Ownership

Use ZabaSearch.com to match names with phone numbers

GOOGLE a Name

See if they are on Facebook or LinkedIn

Check for people or company names in CaseNet in Missouri

or JocoCourts.com in KS

Check for licensing with State Regulatory Boards: Realtors, Mortgage Brokers, Appraisers

Check with the State Attorney Generals Office

Look on the FBI’s website to see if they have been in trouble

Don’t fill out online applications with companies or people you

don’t know.

Ask lots of questions and get answers that make sense.

Ask for references and check them out, don’t take them at

their word, especially if they use well known people’s names.

Leawood Attorney pleads guilty

to participating in a conspiracy

to commit wire and mail fraud.

Investors lent $52.5 Million to

this attorney and others through

a Real Estate Ponzi scheme

where they thought they were

lending for legitimate real estate

development projects, but most

of the money was being kept or

used to pay interest to other

lenders. Look up British Lend-

ing Program Online or BLP.

August 2010, Kansas City Kan-

sas man sentenced to 145

months in prison and ordered to

pay more than $5.8 million in

restitution for mortgage fraud.

Plead guilty to mortgage fraud,

wire fraud, money laundering,

and aggravated identity theft.

Conspirators obtained loans for

purchasing and refinancing

properties by submitting fraudu-

lent loan applications with false

statements, false sales con-

tracts, and false appraisals by

unlawfully making use of the

identity of a licensed appraiser.

Scammers using Craigslist to

target would be renters in an

Identity Theft Con. They steal

another persons photos and

property information from a

house for sale to create a new

rental ad on Craigslist with a

very attractive rent and ameni-

ties. Then once a potential

renter contacts them, they ask

for them to fill out an application

online. When they stop by the

property to see it, they are told

the house is not for rent and

they know nothing about the

rental application.

You can search for stories

about fraud in real estate and

mortgages on the internet for

hours and never run out of sto-

ries.

In an effort to educate our

members and guests, we have

invited in FBI Special Agent

Julia Jensen for her 3rd presen-

tation at MAREI. Her first two

were very informative and very

well attended. As she has cut

way back in her speaking en-

gagements due to an increased

case load with her investiga-

tions, we are very lucky to have

her join us for this meeting. WE

EXPECT A PACKED ROOM!

So get there early to reserve

your seat.

We hope that you take away

information from this presenta-

tion that will keep your name

out of the paper as a person

taken in by a scam or the per-

son going to jail for committing

fraud. We have seen numer-

ous people in trouble over the

years with fraud schemes on

both side of the scam due to

their lack of knowledge about

the situation. So we ask you to

pay close attention, take notes,

and if ever faced with anything

you don’t understand, ask for

help.

Today: The “Perfect” Time to Invest

By Andy Heller, Co-Founder, Regular Riches Invest-ment System

Should an investor swim or reach for a life preserver?

Just a few years ago, the number of real estate inves-tors was growing by leaps and bounds; however, today many investors that were attracted to real estate in the early part of this decade due to skyrocketing property values have retreated to the sidelines. The market has been cooling nationwide, and so it seems has the ap-petite of many investors. The million dollar question is, are they right? Should other investors follow their lead?

To help answer this question, let’s look at a similar oc-currence that happened in the late 1990s in the stock market. Stocks began to appreciate rapidly in the mid 1990s. In response, stock investment clubs popped up all over the country. The increased interest in the stock market drew more attention to stocks from previously inactive and novice investors. This brought more money into the stock market, which in turn drove prices

even higher. The bubble burst on the stock market in the early 2000s. Stock investment clubs closed and interest in the stock market waned in response to the declining values.

The end of the bull market and start of a bear market in the early 2000s sent many of these new stock investors to the sidelines, just as real estate investors attracted to skyrocketing property values earlier this decade have also just recently retreated to the sidelines. As we asked above, are the retreating investors right? The

answer is a resounding NO.

An astute stock market investor makes good money in both a bull market and a bear market. The same occurs in the real estate market. There is a GREAT opportu-nity for today’s real estate investor. Today’s investor is unlikely to find and profit from skyrocketing prices that dominated many real estate markets just a short time ago. Therefore, investors who plan only to profit from property appreciation are right to retreat if that is their primary means to profit. But today’s market provides an even greater opportunity to real estate investors than years past. It is just a DIFFERENT, and very special, investing opportunity. Large profits will not come from

only property appreciation but from other sources.

We refer to the special opportunity that is just starting to develop in Today’s real estate mar-ket as a ―Perfect Storm.‖ The Perfect Storm is the name of a movie staring George Clooney and Mark Wahlberg that depicted the most violent storm of our generation. This once-in-a-generation storm occurred in the mid-1990s and was caused by three separate and dis-tinct weather patterns that occurred simultane-ously. One happened a lot, two every couple decades, and all three together was some-thing seen once in a lifetime. This created what was nicknamed ―The Storm of the Cen-tury‖ or ―The Perfect Storm‖.

So what in the world does that have to do with today’s real estate market?

Like the Perfect Storm, today we find three things happening in this real estate market that is the start of what is potentially a once-in-

Real Estate

The Perfect Storm!

Page 10 MAREInet.com

a-generation investing opportunity. Three market developments that have never occurred all at the same time:

1. Record Foreclosures — With foreclosures today at record num-bers and going even higher, this in short means that the pool of properties available for investors to purchase at a discount is IN-CREASING. Also, because many communities across the United States are seeing added foreclo-sures coming onto the market, this is forcing the average home-owner to also discount their home in order to attract a buyer. Fore-closures are up all across the United States, with annual in-creases of 100% in many parts of the country. In short, it is easier today to get a huge discount on investment property that it has been in years.

2. Rising Rents — With loan stan-dards tightening up the past months, fewer people can qualify for home loans and therefore de-mand for rental property is in-creasing. In response to this ris-ing demand, landlords are able to rent their properties faster, keep their properties rented longer, and raise rental rates. So investors who like to rent, lease/purchase, or are unable to flip a property, can take advantage of a rapidly strengthening rental market.

3. Less Competition — Without the attraction of profits from skyrock-eting property values, fewer inves-tors are active today. Fewer in-vestors means less competition and even more opportunities for big profits.

How is today’s investor able to take advantage of this Perfect ―Real Estate Investor’s‖ Storm?

Simple, on the purchasing end, an investor today will be able to use the increased supply of properties at a discount, and the lack of competition, to achieve investor discounts that were very hard to achieve before. Where two to three years ago an in-vestor may have been happy to se-cure a discount of 10 percent on a

Investment News Page 11

Maximize your profits in Today’s Perfect Storm

Invest TODAY in establishing your network of realty contacts and property

sources.

Seek a much greater investor discount upon acquisition than you would have

accepted a couple of years ago.

Secure an exit strategy that allows you to acquire cash out every now and

then (such as a lease/purchase)

Do frequent rental analysis wherever you have rental property (i.e., don’t be

so quick to ask for $1500 when today you might be able to get $1700 be-cause of the growing number of renters).

Consider locking in tenants to two, and even three, year leases (our shortest

is three years). This gives you a chance to get rents up with annual in-creases, and hold onto enough properties in anticipation of property values going up again (which they eventually will).

Seek out educational products (books, seminars, home study courses) that

teach investing strategies where the investor’s profits are not dependent solely upon property appreciation.

Andy Heller is co-author of the Fortune Magazine recommended book

“Buy Low, Rent Smart, Sell High” and together with his partner, Scott

Frank, have approximately 40 years of combined real estate investing

experience and have purchased, rented and sold approximately 100

residential properties. For more on the Fair Lease/

Purchase and other real estate investing tips go don’t

miss out on his workshop in Kansas City on the 22nd.

Go to www.MAREInet.com/AndyHeller to sign up for the

event, and to register for some FREE Bonuses. Every

person that Pre-registers for the event will receive a free

copy of Andy’s Book—Buy Even Lower.

given property, that same property can be purchased in a softening mar-ket 40 percent or more below market.

On the marketing end, investors who rent or lease/purchase will be able to achieve greater profits from less va-cancy periods and rising rents. For those investors who try to flip can use the huge discounts they obtained when they purchased their property to discount the property more than they could have a few years ago and at-tract an buyers quickly. If a buyer does not purchase quickly, the inves-tor can simply fall back on a rapidly strengthening rental market and at-tract a quality tenant, and patiently wait for property values to head up again.

How is this playing out today all across the USA? I have been invest-ing for approximately 20 years. In the early part of this decade, I admittedly paid a bit more for properties than I would have liked, mainly due to the intense competition due to so many new investors competing for discount properties. Today, there are more good opportunities to buy than I could have ever imagined just a few years ago. My world is a microcosm of the overall real estate investing market today. I can sum this up in 3 words:

Deals, Deals, Deals!

Throw away the life preserver, dive in, and enjoy the best swimming an in-vestor has had in decades.

Page 12 MAREInet.com

units setting empty any longer than is necessary, but you don’t want to be just inserting warm bodies into your properties that will flee in the night or need to be evicted in a couple of months.

The answer is to turn to tenant screening. This should not be something you learn and do it your-self, you want a formal process that works every time and to do that you need a professional screen-ing service.

While we can’t know with 100% accuracy that a person will make a good tenant, but we can know with a percentage of accuracy if a person will have a higher likely hood of paying rent, not causing problems, and making you more money.

There are numerous screening services that you can turn to that do as little as a credit check, to an online screening, to a full blown background check. Prices can vary greatly, but for a good screening for one person expect to pay between $25 and $35, which by the way can be an application fee paid for by the prospective tenant. Which once upon a time, a burly old landlord told me was a screening function in itself. If the tenant is not will-ing to pay $25 to $35 per adult in the property for screening, that tells you right there that they would not be a good tenant and you would not be receiv-ing a good report.

So what should a good screening company pro-vide? A lot more than a credit score as a credit report is about the persons credit, but how much does the way a person pays their visa bill have to do with how well they will take care of your property and pay rent and not set up a crack lab in your basement.

So be sure to look for a screening company that will look at all aspects of the tenant history and pro-vide you with:

There are numerous ways to invest, but the more you read and study, you will find that all routes to real wealth is through making a profit day in and day out through rent payments.

You may be a landlord and rent out houses, small multi family, apartments, or commercial proper-ties. You might do a more advanced approach and look at lease options, contract for deed, or seller financing. All choices allow an investor to make money in several ways. First when you buy it under value, instant profit. Second, when you improve the property through renovations or rental increases. Third through rent income. And Fourth trough appreciation.

Now you may hear the old veterans talking about different types of problems from tenants tearing up their properties to not getting their rent on time. But remember they are old veterans and are still out there renting properties, so there must be something to this being a landlord or they would have thrown in the towel long ago.

What these people know and that you need to learn if you are new, is that whether you are a landlord managing your own properties, or a land-lord who has hired a property manager, or you are one of those people with a huge rental property portfolio, you have less problems and make more money when you know more about your tenant.

You can learn how to spot a good property or hire a realtor and property inspector to help you. You can hire a contractor to do the repairs and main-tain the property. You can even hire a property manager to manage the property. But to actually learn more about your tenants, you have to find a way to screen them thoroughly and not discrimi-nate against them at the same time.

Risk in being a landlord is minimized by renting a property quickly and further keeping the good ten-ants as long as possible. You don’t want your

Risk Vs Reward

Protect yourself as a Landlord

Investment News Page 13

Credit History that is easy to read and understand so you can see what they pay and what they don’t.

Civil History and evictions from court records so you can see why they have been sued in-cluding rent, damages, and possession of property.

Criminal History so you can see what type of crimes they may have committed. The guy who shoplifted 20 years ago might be ok, they guy who was con-victed of dealing drugs or as a sexual predator might not be.

Employment and Income Verifi-cation to make sure they do work where they say they do and in fact make what they re-ported to you on your applica-

tion. And statistically speaking, is that enough income for the amount of rent you are charg-ing.

Rental references from current and prior residences so you might find that the current land-lord who wants this person out gives you a glowing report and the three landlords before that tell you how bad they were.

Some screening companies might offer a risk rating factor to help you in the process, but in the end you need to make sure you form a for-mal screening criteria you apply to each and every potential tenant so you do not find yourself in violation of any fair housing regulations.

Formal Screening Criteria means it needs to be written down, it needs

to be a step by step process ap-plied to each and every potential tenant. It needs to be objective and repeatable. And last you need to document your process and the objective results so you have a pa-per trail should a fair housing audit or investigation come to light.

As we talk about formal, objective, and documented, all of these as-pects point to using a screening service to provide you the formality, the yes and no answers, and a pa-per trail to put in your tenant and rejected application files.

One last item that you can use to protect yourself is rental payment insurance to make sure you get paid rent should the tenant skip before the lease expires or if you need to evict the tenant.

More Profits

More Information . . .

More Confidence

Tenant Screening

Pre Employment Screening

Contractor Screening

Collection Services

www.AAAScreening.com

816-436-0085

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Page 14 MAREInet.com

REALTORS® Win on MARS

Rule

The Federal Trade Commission an-nounced last week that it would no longer enforce most provisions of the Mortgage Assistance Relief Services Rule (known as MARS) against real estate profession-als who assist financially distressed homeowners in obtaining short sales from their lenders or servicers. The decision was the culmination of several talks be-tween the National Association of REAL-TORS® (NAR) and the FTC. Some, but not many, KCRAR members had begun implementing the MARS rule, which required real estate agents to make several disclosures related to the sale of short sales. If you created and used these disclosure forms (KCRAR does not have this form), you no longer are required by law to do so. However, always check with your broker before making any change in your practice with regard to short sales to ensure you comply with your office poli-cies.

You may have heard of Qualified Residential Mortgage Re-

quirements, or QRM, which proposes rules that would in

essence require borrowers of higher risk loans to make a 10

to 20% down payment.

In an effort to make sure the general public understands

what QRM is and the drawbacks that it will cause, MAREI

through it’s membership as a part of National EIA has joined

forces with the Coalition for Sensible Housing Policy

(www.SensibleHousingPolicy.org) which is made up of 46

key associations across the country including: National As-

sociation of Realtors, the National Association of Homebuild-

ers, American Bankers Association, the Mortgage Bankers

Association, the NAACP and other consumer groups, civil

rights groups, lender, real estate professionals, insurers and

local governments. This coalition was established to combat

the possible passage of the proposal by federal regulators

that would raise costs for creditworthy homebuyers, deny 25

million current homeowners the ability to refinance into lower

rates because they lack 25 percent equity, slow the eco-

nomic recovery by further stifling the housing market and

ensure a large government strangle hold of housing markets

for a very long time.

While in the past the requirement of 10 percent to 20 per-

cent down payments was very common, we have seen that

well –underwritten, low down payment home loans have

been a significant and safe part of the mortgage finance

system for decades. The proposed QRM exemption ignores

historical data and imposes minimum down payments of 10

to 20 percent and equity requirements for refinancing of 25

to 30 percent equity.

This would result in responsible consumers who have good

credit and seek good loan products to be forced into more

expensive mortgages under the new proposed rule just be-

cause they do not have 10 to 20percent to put down.

These mortgages will be more expensive for consumers

because the capital and other costs of retaining the risk will

be passed onto them, if the private lending market chooses

to offer loans outside of the QRM standards at all.

What are the proposed rules and their potential effects:

For consumers, the QRM was intended to prove credit-

worthy borrowers access to well-underwritten products

at good prices. Although Congress intended for the

QRMs to be accessible to a broad range of borrowers,

the regulators acknowledge that they crafted this rule

to make the QRM‖ a very narrow slice‖ of the market.

Despite specific Congressional rejection of down pay-

ment requirements in the QRM legislative provisions, a

fact attested to by the QRM sponsors, the regulators

have insisted upon a punitive down payment require-

ment, even when confronted with ample historical loan

performance data that show low down payment loans

perform well provided the loan has been properly un-

derwritten and has consumer-friendly features.

For the housing market, the statutory intent of the

QRM was to provide a framework for sound and re-

sponsible liquidity provided by private capital that

would be broadly available to support a housing recov-

ery. However, the QRM definition in the proposed rule

will force the vast majority of both first-time and exist-

ing homeowners to face potentially significantly higher

interest rates, or to postpone purchases and refi-

nances.

For the structure of the housing finance market, the

QRM was intended to help shrink the government

presence in the market, restore competition and miti-

gate the potential for further consolidation of the mar-

ket. Again, the proposed rule is likely to have the op-

posite impact.

Coalition Recommendations

Regulators should redesign a QRM that is consistent with

Congressional intent: encourage sound lending behavior

that supports a housing recovery, attract private capital and

reduce further defaults without punishing responsible bor-

rowers and lenders.

For more information visit, www.SensibleHousingPolicy.org

and for more information on MAREI’s Legislative Affairs go

to www.MAREInet.com and look under the Government

Tab.

Coalition

For Sensible Housing Policy

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In life as they say ―knowledge is power‖. The more you know about market statistics in your given field of business and the better able to interpret and apply the data, the better business person you will be.

Real Estate is no different than any business, you need to gather data, study it and use it to plan your business. There are virtually 100’s of source of data for the real estate inves-tor from the local MLS service, the local Real Estate Asso-ciation, the Regional Federal Reserve Boards, the US Cen-sus and others. We have just started tracking several differ-ent factors gleaned from all of these services and combined them into a market data report that you will find on the Mem-ber’s Only side of the MAREI website and that we will be looking at briefly at the October 11th PreMeeting from 5:40 to 6:00.

If you are like many real estate investors, knowing what you are looking at is a bit tough, because if you were lucky enough to have some sort of formal training on statistics it was a long time ago, and in many cases, you may have never had any training. So we are going to look at the chart below and see if we might be able to figure out what we are looking at. This data came from both the Hearland MLS and KCRAR websies.

Below you will find three sets of information including Inven-tory (how many houses are on the market), Days on Market (the number of days properties have been formally listed for sale), and the Average Sales Price as reported by the selling agent. It also is looking at residential properties only and where possible breaks down New Construction Homes from Existing Resale Homes and then Combines the two.

But looking at just these numbers we can see how much inventory is increasing and decreasing. Which when you are looking at just one particular point in time will not tell you a whole heck of a lot. But if you track it over time as we have shown in a spreadsheet below or in a full year chart, as you will find in our Market Report, you will see trends that can help you. So in this chart looking at August Numbers, we see that number of new homes in inventory is going

down compared to last year and that the inventory of exist-ing homes is a little less than last month and about 10% less than last year. If we look at the number of days it takes to sell a house on Average, we see that in August this was 110 days, which is just a bit better than last month, but a little longer than it took last year. When we look at average sales prices, we again see a bit higher than last month, yet a bit lower than last year.

Keep in mind that the numbers below are an overall photo of all areas of the Kansas City Metro and all price ranges, which can be a good snap shot. But if say for example you are primarily concerned with first time home buyer houses between $100,000 and $200,000 in suburban Kansas City Metro, you might want to look at raw data and factor out high end homes and the 100’s of urban core, bank owned properties that are selling for almost nothing and affecting the overall numbers.

If you watch data like this over time you will be able to see how rising and shrinking inventory will affect price and how quickly homes will sell.

Once you have mastered the basics of tracking your mar-ket specific to your investing needs you might want to add in other trends such as:

Employment or Unemployment Numbers more people

looking for jobs will create less of a demand, while a new business opening with 100’s of new jobs could create a demand in an area.

Rental Demand and Rental Rates: If there is a short-

age of rental units, rental rates might be rising, while if there are too many rentals, you might see rental rates go down and move in incentives go up.

Aging of the population, is very important to the inves-

tor because if your main population is older, you might want to focus on properties for older tenants or buyers. Yet if you are in say a college town where you have an

Market Data

Investing Research

Aug Invent.

Mo/Mo

Change

Yr / Yr

Change DOM

Mo/Mo

Change

Yr/Yr

Change Price

Mo/Mo

Change

Yr / Yr

Change

New 1312 0.46% -22.10% 307839 -0.51% 3.73%

Resale 15165 -3.46% -10.74% 146381 0.52% -3.71%

Total 16477 -3.14% -11.65% 110 -0.91% 10.0% 157372 0.32% -3.94%

Inventory Change Days on Market Average Sales Price

Page 16 MAREInet.com

unusually younger population, you may want to focus on housing for college students or families with small children.

One chart to pay particular attention to is one that looks at numbers of homes sold by month over a several year period so you can note when sales drop off and sales values go down. For example here in the Kansas City metro, if you look at such a chart you will see values and sales drop off from December to February. So as a person in the real estate busi-ness you would need to plan for less sales and income during those months.

Some other great resources for real estate market trends:

www.KCRAR.com

www.RealTrends.com

www.Realtor.org

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Section 8 Housing

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Aug Invent.

Mo/Mo

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Yr / Yr

Change DOM

Mo/Mo

Change

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Change Price

Mo/Mo

Change

Yr / Yr

Change

New 1312 0.46% -22.10% 307839 -0.51% 3.73%

Resale 15165 -3.46% -10.74% 146381 0.52% -3.71%

Total 16477 -3.14% -11.65% 110 -0.91% 10.0% 157372 0.32% -3.94%

Inventory Change Days on Market Average Sales Price

Are you building a

Kansas City Area

Real Estate Portfolio?

Start with MAREI

1. Build your Team

2. Find Your Property

3. Manage your Investment

www.MAREInet.com

Investment News Page 17

When investing in the Kansas City Metro whether you live here or are out of state, start your investing with Mid-America Association of Real Estate Investors: Our members are from all areas of the real estate industry and are ready to help you plan your Real Estate Portfo-lio, find the perfect property, do all the neces-sary repairs, and manage those purchases for maximum performance over time. Before you invest your time and money, start with MAREI and connect with our members!

Page 18 MAREInet.com

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Stay capitalized. One of the most serious problems small landlords face is lack of cash, as being a landlord involves unexpected ex-penses. These range from tenants suddenly ceasing to pay their rent, to unexpected repairs, to lawsuits, but the only predictable aspect to these unexpected expenses is that they will happen, and with some frequency. Set aside a hefty amount of cash specifically for rental expenses, and resist the temptation to use it for anything else.

Understand the eviction process. Although many of us don’t wish to think about worse case scenarios, it is important to become familiar with the eviction process and be ready to start the process immedi-ately when a tenant violates the lease. While the specific docu-

(Continued from page 20) ments required are different in each state, all states involve the same general eviction process. The landlord or property manager must serve the defaulting tenant with a particular notice, wait a specified period of time, file in court, attend a court hearing, schedule a date for the actual evic-tion, and so on, and landlords are well advised to understand this process before actually having to go through it, because it is ex-tremely expensive and takes far longer than most landlords antici-pate.

Understand the Fair Housing Act and how it applies to your rental. When advertising for a new tenant, it is critical that landlords and prop-erty managers understand and comply with the Fair Housing Act. The Fair Housing Act prohibits landlords from using any of the following criteria when evaluating

potential tenants: race, color, na-tional heritage, religion, gender, disability, and familial status. While that may sound simple on the sur-face, consider that stating in a rental listing "perfect for a single professional" is a violation of the Act (bias against familial status). Advertising only in your church's newsletter discriminates by relig-ion. What landlords can and should use to evaluate potential tenants is financial data, credit his-tories, and other background data.

Author Brian Davis is a seasoned landlord and marketing profes-sional. As Vice President of online company EZLandlordForms, Brian Davis works to empower landlords and property managers across the United States with valuable infor-mation and documents to support their work.

Investment News Page 19

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Overland Park, KS 66213 Ph: (913) 402-1500

Fax: (913) 402-0673 AnnW@ArgentineFed.com

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Asset Protection

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Page 20 MAREInet.com

Building a strong relationship with a new tenant and protecting your real estate investment is of para-mount importance when crafting a lease agreement. There are a multitude of considerations at this junc-ture that are essential to understand. As a seasoned landlord and top expert on landlord-tenant relation-ships here are my top tips for new landlords as a helpful tool for navigating lease creation and the on-going considerations of managing a rental property.

How to Build a Strong Lease & Relationship with Your

Tenant

Build an airtight lease agreement by knowing the laws that apply in your state through a state-specific lease. Each state has slightly different laws that im-pact a landlord-tenant relationship. Accordingly, use a state-specific lease instead of a general lease to best protect your real estate investment. For exam-ple, California requires all lease agreements to in-clude clauses mandated by Megan's Law, and every state has different limits on security deposits, late fees, etc.

While not an exhaustive list, other elements a lease agreement should clearly define include: Who is re-sponsible for paying the utilities, which appliances are included and who is responsible for maintaining them, whether the lease auto-renews and for what term, details surrounding fees and deposits, and whether is there an option to purchase - and if so what are the terms?

Know your tenant by thoroughly screening each pro-spective renter to avoid problems down the road. This can be accomplished by a few simple steps. First, conduct a professional credit check to learn an applicant’s credit history and if they have been fis-cally responsible in the past. Bad credit can serve as a red flag and you may wish to avoid such tenants.

Next, ask for references from past landlords. How-ever, be on notice that while references from prior landlords are worth a quick phone call, they aren't particularly telling, because tenants can give fake names and numbers, and even if they don't, the old

landlord may well be painting a rosy picture of the tenant in order to get rid of them.

What a landlord should verify are the rental appli-cants' credit, employment/income (and historical stability), criminal background, and eviction his-tory. When landlords run these checks, not only can they determine the best rental applicant, but the landlord can defend against any discrimination lawsuits by producing hard data used to choose one rental applicant over another.

Devise a Moving In and Moving Out procedure and be sure it is clearly defined. One helpful tool is a comprehensive walk-through checklist. This document will be used for the landlord/manager to walk through the rental unit with the tenant and document the condition of the unit upon move-in and move-out.

Offer performance incentives: While most lease agreements include a late fee, landlords can fur-ther incentivize timely rent by offering a reward for early rent payment, renewing for a longer term period, and/or any other behavior you want to en-courage. Rewards can range from the simple, such as rent discounts, to the complex, such as point systems where tenants earn points and ex-change them for rebates, gift cards, updates to the rental unit, etc.

Establish a relationship with at least two good contractors. Landlords and property managers need at the very least a licensed contractor who can handle large jobs, and an inexpensive handy-man who can affordably fix minor issues. Don't wait until your tenants' heating system stops work-ing in January, or the roof collapses, as the time lost in trying to find a contractor by that time will cost real money. Instead form these relationships before you actually need them, and then you will simply be able to make a phone call and have the problem resolved immediately.

(Continued on page 18)

Top Tips

For New Landlords

Investment News Page 21

More Profits

More Information . . .

More Confidence

Tenant Screening

Pre Employment Screening

Contractor Screening

Collection Services

www.AAAScreening.com

816-436-0085

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Phone: (913) 254-9300

Fax: (913) 254-9301

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Property Management

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Kansas City Metro

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Kevin Jamieson

816-503-4671

Page 22 MAREInet.com

CA

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ND

AR

D

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oca

tio

ns, C

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Re

gis

tra

tio

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t w

ww

.MA

RE

Ine

t.co

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Oct 1st Networking Independence / Blue Springs: Panera Bread

40 Hwy & 291 4pm to 6pm: Debra Felderhoff

Oct 2nd Networking Lee’s Summit: Panera Bread on Chipman

Road in Lees Summit: Debra Felderhoff

Oct 5th Networking Weekly Wednesdays: 103rd & State Line 9

am to 11 am : Michelle Winberry

Oct 6th Training CESKC.com Creating Welath - 6pm-9pm,1

Credit PHP, 3 Hrs Realtor Contin. Ed

Oct 8th Networking Independence / Blue Springs: Panera Bread

40 Hwy & 291 4pm to 6pm: Debra Felderhoff

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

Road in Lees Summit: Debra Felderhoff

Oct 10th Deadline Deadline to Reserve a Vendor Table for

Tuesday Meeting by Noon

Oct 11th Monthly

Meeting

Monthly Meeting: Career Education Systems

South East side of Ward Parkway 6pm-9pm

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

am to 11 am : Michelle Winberry

Oct 12th Networking Commercial Sub Group: 103rd 7 State Line

5:30 to 7:30 : Larry Prato / Spencer Cullor

Oct 15th Networking Independence / Blue Springs: Panera Bread

40 Hwy & 291 4pm to 6pm: Debra Felderhoff

Oct 16th Networking Lee’s Summit: Panera Bread on Chipman

Road in Lees Summit: Debra Felderhoff

Oct 19th Education Crime Free: Fair Housing Seminar & Prem-

ise Liability Seminar www.KCCrimeFree.com

Oct 19th Networking Weekly Wednesdays: 103rd & State Line 9

am to 11 am : Michelle Winberry

Oct 19th Deadline Last Day for Early Bird Pricing for the Buy

Low, Rent Smart, Sell High Seminar

Oct 22nd Education Buy Low, Rent Smart, Sell High Seminar—All

Day Training Workshop with Andy Heller

Oct 22nd Networking Independence / Blue Springs: Panera Bread

40 Hwy & 291 4pm to 6pm: Debra Felderhoff

Investment News Page 23

Larry Prato

Commercial Subgroup

Spencer Cullor

Commercial Subgroup

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

Road in Lees Summit: Debra Felderhoff

Oct 24th Training CESKC.com 1031 Exchanges - 1pm –4pm 1

PHP, 3 Hours Realtor C E

Oct 25th Training CESKC.com Commercial Leasing - 9am-

12pm1 Credit PHP, 3 Hrs Realtor Contin. Ed

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

4pm 1 Credit PHP, 3 Hrs Realtor Contin. Ed

Oct 26th Networking Weekly Wednesdays: 103rd & State Line 9

am to 11 am : Michelle Winberry

Oct 26th Networking Weekly Wednesdays: 103rd & State Line 9

am to 11 am : Michelle Winberry

Oct 27th Training CESKC.com Credit Scores - 6pm-9pm 1

PHP, 3 Hours Realtor C E

Oct 29th Networking Independence / Blue Springs: Panera Bread

40 Hwy & 291 4pm to 6pm: Debra Felderhoff

Oct 30th Networking Lee’s Summit: Panera Bread on Chipman

Road in Lees Summit: Debra Felderhoff

Ne

tw

ork

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, Tim

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Michelle Winberry

Weekly Wednesdays

Many thanks to our Volunteers

who sponsor a Networking. If

you need more networking and

interaction, please check out

the Networking Group on the

Calendar. First Networking

event is free and does not re-

quire membership. After that if

you want to continue as a part

of the subgroup, we request

that you become a member of

MAREI to gain more knowledge

and access all the tools and

benefits of membership

THANK YOU!

Debra Felderhoff

BS, LS, Indep Subgroup

Page 24 MAREInet.com

To register for an event, first you need to log in using the instructions from page 4 of this guide, which as page 4 says,

lands you on the calendar of events.

Find the event you want to register for and click on it, in

this example, click on MAREI Monthly Meeting on the

14th. This lands you on the event page with the Mem-

ber Registration Button at the top.

Click on the member registration button.

And you end up with the registration op-

tions. Pick the one you want, which as a

member in this case would be the FREE

option using the drop down button, and click continue.

Continue clicking the Continue Buttons until you hit the

final screen below

Events

Register for

Investment News Page 25

Offered As Address City Price Bed/Bath Contact Phone

Leased 2 Houses Lake Ozarks $58,000 Danny Hammond 816-985-4950

Turn Key 2 Houses South KCMo $76,00 varies Christoph Becker 816-419-1165

Fixer N 47th & Georgia Kansas City KS $18,000 2/1 Paul Redmond 913-626-2967

Fixer 2904 E 35th St Kansas City, MO 5/1.5 Christoph Becker 816-419-1165

Fixer Waldo Kansas City, MO 3/1 Maggie Sheehan propertyloca-tors@yahoo.com

Rental 4132 Agnes Kansas City, MO $15,000 2/1 Christoph Becker 816-419-1165

Lease Option North of River 4/2 Laura Johnson 732-670-4940

Rehab 2327 NE 45th Place Kansas City, MO 3/1 Sue Robertson 816-589-0975

Turn Key 2005 E 58th St Kansas City, MO $23,000 3/1 Adrian Williams 816-616-2475

Fixer 701 E 70th St Kansas City, MO You Name 3/2 Bilal Hazziez 816-686-4805

Rehab 3509 Lexington Kansas City, MO $22,000 5/6 Joseph Grimm 913-489-9566

Turn Key 300 Kensington Kansas City, MO 25000 4/2.5 Joseph Grimm 913-489-9566

Wholesale 2510 Myrtle KCMO $13,500 3/2 Christoph Becker

Wholesale 310 E 81st ST KCMO $48,000 2/1 JD Asbell 913-583-1199

Wholesale 8701 N Troost KCMO $115,000 4/3 JD Asbell 913-583-1199

Wholesale 8413 E 85th Tr Raytown $48,000 4/2 JD Asbell 913-583-1199

Rehabbed 9436 Hakins Lenexa $85,000 2/1 JD Asbell 913-583-1199

Wholesale 5500 College KCMo $17,500 3/1 Christoph Becker 816-419-1165

Wholesale 5241 Olive KCMO $17,500 3/1 Christoph Becker 816-419-1165

Wholesale 5161 Hardesty KCMO $14,500 3/1 Christoph Becker 816-419-1165

Owner Fin Townhome Smithville Not priced 2 / 1.5 Rajeev Verma 913-735-5234

Wholesale 2904 E 35th St KCMO 14,999 5/ 1.5 Joey Kramer 816-510-4259

Renal 7411 Forest KCMO 39900 2/2 Scott Tucker, Realty Resource 913-620-7934

Turn Key 8516 W 69th Tr Overland Park 119,900 3/1.5 Don Tucker owner/ broker 913-208-3017

Fixer No address No city No price 3/2 Kevin Jamieson Reece & Nichols 816-686-2955

Rental 1811 S Cedar Independence No price NA Kevin Jamieson Reece & Nichols 816-686-2955

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

Page 26 MAREInet.com

Welcome

Dean Bammer

Brandon Jackson

Amanda Palomba

Julie Schoemeht

Lisa & Mark Stang

Ray Stuck

Chris Zembrenski

Noelle Bear: Bonner Springs, KS

Carol Cutler: Kansas City, MO

Gregory Dorrel: Overland Park, KS

Jason & Angela George: Oak Grove, MO

Joseph Grimm: Bonner Springs, KS

Bill Loftus: Kansas City, MO

Rod & Karen Messier: Independence, MO

Lauren Norwood: Grandview MO

Paula Swenson: Overland Park, KS

Eric Wayne: Pleasant Hill, MO

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

New Members Guests

Glenn Davis: Lexington, SC

Johanna Koppen: Kansas City, MO

Mara Meade: Lee’s Summit, MO

Ariel Moore: Overland Park, KS

Marcus Painter: N Kansas City, MO

Ben Rao: Lee’s Summit, MO

Mike Reid: Shawnee, KS

Scott Shore: Independence, MO

Tim Stauffer: Kansas City, MO

Luke Weber: Olathe, KS

Roy Worley: Kansas City, MO

Returning Members

New Business

Premier Leasing: Lees Summit, MO

Investment News Page 27

On Demand Training

30 Minute Segments

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Government Grant Money

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Wireless Security Systems

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Marian Collins: 913-907-4942

Gary Hartman: 913-991-1612

―Recommended by Fortune Magazine!‖

On Saturday October 22nd, real estate expert Andy Heller will show you why

TODAY’S real estate market is the best time EVER for investors, and this win-

dow of opportunity will be open only so long. Learn how to use Andy’s Fortune

Magazine recommended strategy. Andy will show you how to buy bank-owned

properties directly from banks and REO Agents for pennies on the dollar BE-

FORE the properties hit MLS, and how to cash in on today’s strengthening

rental market with his ―Rent Smart‖ lease/option program. The workshop will

include:

Why today’s COOLING market is a

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Buying Low: Learn about the un-

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What types of properties can you buy

from banks

How to buy REOs BEFORE they are

listed on MLS

How the ―typical‖ lease options mini-

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How to make a fortune in real estate

AND help your tenants at the same time

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MAREInet.com

INVESTOR

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BUSINESS

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informed MAREI

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ask questions, and share oppor-

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MAREI sets the standard for real

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on our web site at www.MAREInet.com for more

info and look for our orientation webinar on the

calendar of events.

See the Business Benefits tab under Membership on

our website at www.MAREInet.com for more info or

call the office at 913-815-0111 .

Mid-America Crime Free Inc.

Proudly Presents!

Date: 10/19/2011

Time: 7AM to 5PM

FAIR HOUSING & PREMISE

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Seminar Schedule

08:00-09:30 Registration / Buffet Breakfast

(Fresh Fruit, Pastries, Eggs, Biscuits & Gravy)

09:30-11:45 Fair Housing w/ Robert J Wise

11:55-12:30 Foreclosure Issues w/ Wise & Anderson

12:30-1:30 Buffet Lunch

(Beef Brisket & Blackened Chicken)

01:30-02:30 Premise Liability w/ Julie Anderson

02:30-02:45 Afternoon Break (refreshments)

02:45-03:15 Bed Bugs w/ Det. Todd Butler

03:15-03:25 Break (refreshments)

03:25-05:00 Physical Security / Lighting Issues w/

P.O. Mike Betton

05:00 Seminar Concludes

This is YOUR chance to learn and discuss all the aspects of FAIR HOUSING in an

OPEN FORUM with landlord/eviction ATTORNEYS Robert J. Wise and Juli Anderson.

Also DISUCSS the ever changing ideas that surround PREMISE LIABILITY with AT-

TORNEY Julie Anderson. We also will have a presentation on the BED BUG infesta-

tion with Detective Todd Butler and then wrap it all up with updated information on

PHYSICAL SECURITY with P.O. Mike Betten. All of this great information, breakfast

and lunch for one GREAT PRICE of $99.00. Don’t miss out on this great SINGLE

DAY SEMINAR.

Location:

Holiday Inn Kansas City

CoCo Key Water Resort

9103 East 39th Street

Mid-America Crime Free Inc.

Metro Patrol Division

7601 Prospect Ave

Kansas City, Mo 64130

To Register Go Online to

www.kcCrimeFree.com

If you have any questions please contact

P.O. Aaron McKie at 816-581-0723 or aaron.mckie@kcpd.org