1210 KREIA Newsletter
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Transcript of 1210 KREIA Newsletter
President’s Letterpage 1
Featured SpeakerPanel of Experts
Hidden Liabilities
for LandlordsBed Bugs, Lead, Radon, Abestos,
Mold, Critters and more
Great Article on Bed Bugs!page 3 and 5
5:30pm Pre-MeetingAttorney Hank Schildknecht
New Law Against Landlords
No.. Not My Dog!
Now It Is Your Dog!
L.O.T.S. ProgramTues. Oct 30th High Noon
WelcomeNEW KREIA Members
page 8
Member Spotlight!April Smith
Page 10
KREIA Surveypage 8
Govt Affairs Updatepage 11
Copyright MMXII Kentuckiana Real Estate Investors Association•P.O. Box 17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
President’s Letter
There are so many happenings to put on the calendar lately to be able to
network and get involved in your real estate investing club. I hope you are
taking advantage of all the great learning and networking opportunities. I know
I am. If you don’t know what I am talking about, be sure and visit the web site,
kreia.com for details. So far we have had a networking lunch at Corner Café,
Friday happy hour at Selena’s in their fabulous outside garden area, and a pot
luck picnic at Tom Sawyer Park. A great time was had by all who chose to
partake in these. Keep watching for new dates and places. Thank you Jean Hall
for putting all this together for us.
Coming up we have the Holiday party that will be on the CQ Princess this
year. It will take place on TUESDAY (not the usual Thursday) December 11. This
is a very different format for our November/December meeting. While we
continue with our traditions of the Ed Melton award and auction for the Home
of the Innocents presentation, we will especially have some fun dancing and
enjoying the sounds of Lamonte Gellispie band. Be sure to secure your tickets
on the web site in advance for $37.00 before they run out. If there are any left
after the next meeting on October 25, the price will be $50.00. Thanks to Dan
Jones and Dennis Erhard for putting this together. We are always trying to come
up with new ideas and this is one of them that is sure to be a lot of fun.
For the best in education, don’t forget the upcoming OREIA convention in
Cincinnati on November 8-11. Go to OREA.com for more details. This is 3 days
well spent for serious learning provided by the top experts in real estate
investing.
Lastly, one of the most important events coming up is the U.S. Presidential
election. I see so many people voicing passionate opinions on who the better
candidate is. Please get informed and vote. Your country is depending on you
and so is the real estate industry.
Happy and successful investing!
Your President,
Connie Horsey
P.S. Please take photos at KREIA with your cell phone and email to
[email protected] - No photos were sent in last month.
Vol 12-10 Monthly Newsletter for KREIA Members
2Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
Your KREIA Leaders
PresidentConnie Horsey
Vice PresidentDennis Erhard
SecretaryChris McCarty
TreasurerMike Grinnan CPA
Treasurer ElectAru Tarr
Board of Directors
Mike Butler
GeorgeForee
Eric George
JeanHall
MarkHass
Frank Miller
LindaBrun
DuffyFord
Dan Jones
JayLong
RueMcFarland
DickVreeland
ParliamentarianHank Schildknecht
Immediate Past PresidentMark Schaffer
Your KREIA Leaders are involved and chair several committees to make KREIA happen every month for you and your fellow KREIA Members.
Get involved with KREIA. You can help with the monthly meetings, L.O.T.S. Program, this newsletter, Saturday Workshops, Government Affairs, Social, Annual Picnic, Marketing, the new KREIA website and more PLUS You Get EXTRA KREIA Points for everything you do!
Get phone and emails of all KREIA members with the new KREIA Online Member Directory.
Reach out and tell them they are doing a great job! (It makes them do more for KREIA!)
KREIA Newsletterpublished monthly and serves both as a newsletter and a reminder notice of your upcoming monthly meeting.
KREIA is a member only association focused on education, networking, and resources for today’s investor. o educate real estate investors from the basics to the complex. We are an excellent choice for all levels of investors. Whether you are just starting out in real estate investing, or are working on your hundredth deal, KREIA can help you learn more, earn more, and have more fun doing it.
To Subscribe to the KREIA Newsletter is simple and easy. Go to KREIA.com and join the Kentuckiana Real Estate Investors Association.
Group Discounts are available.
To Advertise in the KREIA Newsletter
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To Sponsor A Monthly Meeting
To Sponsor A LOTS Program
Please contact [email protected]
KREIA SponsorshipsDiamond: Full Page Ad + Table + Pre-Meeting Speaker Only $995 or $99 mo.
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Your Featured Speaker!
Panel of Experts
Hidden Liabilities Of Landlording!
Copyright MMXI Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
Appearance: Bed bugs are flat, reddish brown, oval
and about 3/16 inches in length. They are swollen and
reddish after a blood meal.
Habit: Bed Bugs live in cracks and crevices, mattress
seams, sheets, furniture, headboards, baseboards,
and electrical outlets.
Diet: Feed on blood.
Reproduction: Females can deposit one to five eggs
a day, and may lay up to 500 eggs in a lifetime.
LIFESPAN: Under normal living conditions they can
live up to 300 days.
Bed Bugs 411: What's Eating Me?
� Have you noticed little red marks on after waking in
the morning?
� How about little bugs crawling around on your bed?
� If the answers to either or both these questions are
yes, you may now be asking...
"What's Eating Me?"
You may not like the answer, because you may have
bed bugs. Bed bugs are brown to reddish-brown after
a blood feeding with an oval and flattened top to
bottom shape. They are about the size of an apple
seed.
Bed bugs have a "stay-hidden" behavior, are active at
night, and venture out to feed on your blood.
Bed Bugs, Critters, Mold, Asbestos, LEAD Paint, Radon, EPA, & More!
BED BUGS! YUK!
These hearty little critters and
BED BUGS Live MORE Than A
Year Without Eating!
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Bed bugs do not result from poor sanitation or social
status, but are spread as we go about our various daily
concerns.
They are not limited to the bed or the bedroom, but
eventually move throughout your home.
Bed bugs will crawl considerable distances to obtain a
blood meal.
What to Look For
Bed bugs hide in small spaces, cracks, and crevices near
where you lounge, rest, and sleep. They can be found
behind baseboards, upholstery and in any kind of
furniture. You need to check wall-hangings, night stands,
stuffed furniture, floorboard cracks, behind loose
wallpaper, light switches, window treatments, and door
and window frames. If an infestation is heavy, bed bugs
may be found in wall voids, attics, and enclosed places.
The most effective inspections are conducted by your
certified pest management professional, especially
EnviroSafe Pest Control. They can see signs of a bed bug
infestation without actually seeing any bed bugs. Signs
of infestation include small reddish-brown fecal spots on
surfaces and sometimes a very sweet odor. Bug bites
may also be indicators. If you wake up each morning
with bites then you may have bed bugs. If you have bites
that occur at different times of the day and in various
locations such as at home, in your car, or at work, it is
much less likely the cause is bed bugs.
How Did The Bed Bugs Get Here?
� Bed bugs can enter your home inside used furniture
or from a visitor who has bed bugs in their home.
� Bed bugs can also stow away in suitcases, backpacks,
and shoes.
� Take a look at yourself and folks in your home, kids at
school, workplace, church, etc. Could any of the
places visited by people in your home have been the
cause of someone bringing Bed Bugs into your home.
� Also, what about guests who visit your home. Where
have they been? Yes, it is a horrible thought, and you
used to think lice was bad. (it still is and makes us
cringe too)
Bed Bugs can enter your from things you
purchase at retail stores - clothing, linens, and
more. YES, this is absolutely true, even though things
you buy that were made in China. They travel across the
ocean in their containers and packages and remember,
Bed Bugs can LIVE more than a year without eating!
� it does not matter if it is Wal-Mart, Target, K-Mart, a
Pawn Shop, Macy's or Nieman Marcus! Bed Bugs are
everywhere!
Bed bugs have NOT been proven to spread disease
through their bites.
An actual bed bug sighting or a sample of a bed bug or
egg is needed to be certain that you have an infestation
or activity. Bed bug bites or symptoms might be clues,
but cannot determine certainty of bed bug presence.
----� continued on page 6 >>>
BED BUGS! Yuk!
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Banks and bankers are easy targets these days. Almost
as easy as lawyers. But you almost have to feel sorry for the
predicament they are in under the conflicting policies under
the current administration in Washington.
One of the lead stories coming out of Washington D.C. this
month (other than the election and the ever changing spin of
the invasion of the U S embassy in Libya) is the lawsuit that
the Attorney General has brought against Wells Fargo Bank.
The charge – making reckless loans. That is, making loans
under the mandates that have been dictated to them from
Washington since the National Homeownership Strategy was
established in 1995.
Since 1996 annual goals were directed to Fannie Mae and
Freddie Mac to increase the proportion of mortgages made to
low and moderate income families. It began at 40% when
first established in 1996 and gradually rose each year until the
peak of 57% was reached in 2008, generally the year cited as
the time the deck of cards started collapsing.
Thus now Wells Fargo has been charged with making too
many loans that failed – loans that they were forced to make
to low-income people that could not be repaid – imagine that.
The politicians, yes the same ones that advocated the policies
that forced the banks to make these loans in the first place,
are currently demonizing the banks for making these risky
bets with other people’s money, and saying that we now need
more federal oversight to prevent this from ever happening
again.
So the Department of Justice is going after Wells Fargo Bank
for making these reckless loans. What if Wells Fargo had not
made all of these risky loans? Well, the Attorney General has
a complaint about that also.
Luther Burbank Savings is a small bank located in the state of
California. It had very strict and conservative loan
requirements. Loans were made to only those with high
credit scores and personal net worth, and it looked for a loan
to value ratio of about 67%. It kept its loans in house, and
nothing was sold on the secondary market. Thus its mortgage
practice was such that you were only allowed to borrow the
bank’s money if the lender really thought that you could pay it
back, and if for any reason you didn’t, the lender was
protected with the value of the underlying collateral. As a
result of these draconian practices it had a foreclosure rate of
only 1.75%.
With many banks failing throughout the country because of
their high delinquency rates, and the volume of foreclosures
at fifty year highs, one would think the bureaucrats in
Washington would award this bank with a blue ribbon for its
prudent lending policies and saving the FDIC millions of
dollars of taxpayers’ funds. However, Eric Holder’s response
was a lawsuit. (Eric Holder is the current U. S. Attorney
General appointed by you know who.)
The allegation was that since its foreclosure rate was a mere
1.75%, it was obviously not making enough risky loans. A
clear cut case of discrimination was evident, even though the
government could not find a single victim. As a result of this
legal action, Luther Burbank was forced to modify its lending
practices to now make risky and reckless loans.
My thoughts are there does need to be some federal
guidance on making loans. What is the happy medium
between making too many reckless loans (like Wells Fargo)
and not enough risky loans (like Luther Burbank).
We would all cringe if someone walks into our place of
business and announces “I’m from the federal government
and I’m here to help you.”
However, if I were a banker I would immediately dive under
my desk.
Henry Schildknecht
Attorney at Law
The views expressed in the above article do not (necessarily)
reflect the viewpoint of KREIA,
or any member of the Board.
Copyright MMXII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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Bed Bugs! Yuk!Your KREIA Calendar
Oct. 25th – KREIA Meeting Panel of Experts “Hidden Liabilities of Landlords”
5:30pm Pre-Meeting: Attorney Hank Attorney – “No More ‘Not My Dog’” New Law against Landlords explained.
Oct 26th – 12pm at Corner Café in Lyndon – Brainstorming Lunch
Oct 30th – L.O.T.S. Program 1035 E. Caldwell hosted by Eric George
Nov 2nd – Friday 5pm - ? Happy Hour at BrickHouse Tavern on Hurstbourne Pkwy
Nov. 6th – ELECTION DAY – VOTE!!
Nov 22nd – Thanksgiving NO MEETING
Dec 11th – Nov/Dec Meeting – KREIA Holiday Meeting Cruise on the CQ Princess – Ed Melton Award, Auctions to Benefit Home of the Innocents, LIVE Music with the Lamont Gallispie 100 Proof Band.
Dec 18th – L.O.T.S. Home of the Innocents
Have a SAFE and Happy Holiday Season!
Dec 25th – Christmas Day!
Jan 1st – New Year’s Day!
Jan 24th KREIA Meeting: Tax Updates with Mike Grinnan CPA
Jan 29th 12noon – L.O.T.S. Program
Call in the ProsIt may be possible to reduce bed bug populations in your home, but it is
virtually impossible to eliminate every bug without the services of a
pest management professional.
Even if one adult female survives, your home could become re-infested.
Sleeping in a different room or vacating your home is not a solution, and
can make the problem more difficult to eliminate.
There are many pests you may try and control on your own, but bed
bugs should not be one of them.
Call a professional pest management company. When working with a
pest management company that offers a guarantee, you should ask
what the guarantee covers. Are you guaranteed complete bed bug
elimination? How long is the guarantee? Most guarantees will be limited
to a period of time, or if a preventative program, will be ongoing with a
service agreement.
Now you have the bed bug basics, YESTERDAY is the time to get rid of
what's eating you.
Contact Johnny Ackerman at EnviroSafe today to arrange your
professional help for your units, including KREIA member discounted
“certified free of bed bugs” program.
John Ackerman
http://EnviroSafePC.com
502-425-8110
Get Your Tickets Now for KREIA Holiday Meeting
http://kreia.com/dec11
Copyright MMXII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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Your KREIA Calendar
Oct. 25th – KREIA Meeting Panel of Experts “Hidden Liabilities of Landlords”
5:30pm Pre-Meeting: Attorney Hank Attorney – “No More ‘Not My Dog’” New Law against Landlords explained.
Oct 30th – L.O.T.S. Program
Nov. 6th – ELECTION DAY – VOTE!!
Nov 22nd – Thanksgiving NO MEETING
Dec 11th – Nov/Dec Meeting – KREIA Holiday Meeting Cruise on the CQ Princess – Ed Melton Award, Auctions to Benefit Home of the Innocents, LIVE Music with the Lamont Gellispie 100 Proof Band.
Dec 18th – L.O.T.S. Home of the Innocents
Have a SAFE and Happy Holiday Season!
Dec 25th – Christmas Day!
Jan 1st – New Year’s Day! HAPPY NEW YEAR!
Jan 24th KREIA Meeting: Tax Updates with Mike Grinnan CPA
Jan 29th 12noon – L.O.T.S. Program
Holiday Meeting Dinner Cruise!Prizes! Auctions! Food! LIVE Music!
DATE: Tuesday, December 11, 2012
TIME: 6pm – 9pm
LOCATION: Captain’s Quarters Restaurant on board the CQ
Princess Dinner Cruise Ship
Admission: $50
Early Bird Registration - SAVE $13 Now!
Only $37use promo code "cq"expires midnight on October 25th
Ed Melton Award
LIVE Rick Wardlow Auctions to Benefit Home of the Innocents!
LIVE MusicLamont Gellispie & 100 Proof Band
KREIA’s Annual Campaign FundraiserPresentation to Home of the Innocents
YOU Are Invited!
http://kreia.com/dec11
Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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April Smith
April Smith joined KREIA almost years ago and has
been a real estate investor since joining.
April said she started investing out of necessity.
April moved to Louisville to be with her fiancé and
she had to turn her house into a rental because of
the market.
Now she has 2 single family rental houses and is
looking forward to adding more to her portfolio.
April is finishing up real estate school to become a
Kentucky licensed Sales Associate. (Real Estate
Agent)
Originally from Michigan; near Traverse City, April
was engaged and married in September.
April two biggest fans are her dogs, Cal and Kona.
Other than real estate she is a nanny for a family in
the highlands.
April also teaches life guarding, CPR and first aid.
She teaches these classes at the YMCA and for the
American Red Cross.
April Smith
Welcome NEW Members!Javan Montgomery
Osia Craig
Charlotte Hollkamp
Beth Butler
Robert Bell
Delmar Glenn
Brian Hudson
David Chandler
Matthew Festa
KREIA SURVEY30 second KREIA Member Survey at
http://KREIA.com/survey
You Can NOT Complain If You Do NOT Vote!
Remember To VOTE November 6th
L.O.T.S. ProgramTuesday , Oct 30
Will be announced at
Meeting
Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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Invite a Friend to KREIA!Attend Your Next KREIA Meeting for FREE!
By Mike Butler
Brand New “Invite A Friend To KREIA Program”
allows YOU to attend your next meeting for FREE!How It Works:
1. At your next KREIA Meeting, go to the membership table and ask for 10 KREIA Business Cards.
2. You must sign the sheet showing how many KREIA Cards have been signed out by You. Most members will sign out 10 cards at a time; however, if you have an office or you expect to run into many investors in your line of work, you may request to get 25 cards (max) to display in your lobby, on your desk, etc.
3. IMMEDIATELY, while at the Membership Table, legibly PRINT Your Name on the backside of each card in the “Referred By:” field.
4. Now you can begin using the KREIA Business Card Program to get your next meeting for free.
5. Simply hand out your KREIA Cards (with your name already pre-printed on the backside) to folks who you feel would or could benefit from joining KREIA. The KREIA Card you give them allows real true “guests,” not former members who let their membership lapse, to attend a meeting for Only $10 – thanks to you. They will submit their $10 Meeting Coupon at the door and their card already has your name on the back.
6. When your guest turns in your card, joins KREIA and becomes a member, you will get your next meeting absolutely Free. This is not ANY meeting, or meeting of your choice, but the next monthly meeting following the month your guest joins KREIA.
What Are You Waiting For? Get Going Now!
Sign Out at least 10 KREIA Business Cards on Thursday and let’s get KREIA to be THE MEETING of the Month for all local real estate investors!
Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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Rue McFarland
Government Affairs Update
Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.comDISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
October 8, 2012
Louisville Metro Government
An ordinance that was introduced in 2010 dealingwith maximum permitted density in C-1 zoning districts has resurfaced in the Metro Council.
Originally, the ordinance would reduce the maximum density allowed in C-1 zoning districts from 34.8 units per acre to 12.1 units per acre. When it first came up for consideration before the Metro Council, it was returned to the Planning, Zoning, Land Design and Development Committee for further review, as there were concerns from Metro Council members, constituent groups and the planning commission.
In December 2011, the committee voted to permanently table the ordinance. Councilmen James Peden and Rick Blackwell, who supported the ordinance, filed a discharge petition.
The discharge petition would force the ordinance out of the Planning, Zoning, Land Design and Development committee and require the full Metro Council to vote on the measure.
The measure was ultimately reassigned to the Ad Hoc Committee on the Land Development Code for further study. The committee members are working toward a compromise that was introduced in the form of an amendment.
The measure was discussed and the committee decided to table the ordinance, as there were still concerns with the amendment. Representatives of the Greater Louisville Association of Realtors® will provide updates as this progresses (Louisville Metro Council).
Rue McFarlandGovernment Affairs Committee Chair
502.897.6060
.com
PO Box 17592Louisville, KY 40217Return Service Requested
Oct 25th Monthly Meeting at Woodhaven Country Club
KREIA’s Panel of Local Experts
“Hidden Landlord Liabilities”Bed Bugs, LEAD, Radon, Asbestos, MOLD & More!
5:30 Pre-Meeting
NEW Anti-Landlord LawDid You Know YOU Are The Proud Owner of Their Animals?
Attorney Hank Schildknecht – Do NOT Miss This One!
KREIA Holiday Meeting Dinner Cruise DISCOUNT Expires Oct 25th
Register Online Now! http://kreia.com/dec11