WPREIA Newsletter May 2016 - Pittsburgh REIA

1

WPREIA Newsletter – May 2016

Our next meeting is scheduled for Tuesday, May 17th

Greater Pittsburgh Masonic Center in Ross Twp

3579 Masonic Way, Pittsburgh, PA 15237

$10 at the Door

If your membership has expired and you aren’t ready to renew yet, or if you have visited the club

as a guest and are still deciding whether to join, you are welcome to join us for the monthly

meeting but you will be asked to pay $10 at the door. While an annual membership is cheaper

than paying $10 at each meeting, we understand that this pay-as-you-come option is a better fit

for some. Note that first-time guests are still free.

Main Meeting:

6:00 – 7:00 Pizza Networking – Informal networking opportunity before the meeting (let me

know by Noon on Tuesday if you are planning to attend, so enough pizza can be

ordered)

7:00 – 8:00 Club Announcements - I’m always working on something new, and if you miss the

meeting you won’t know what that is.

Legal Minute with attorney Rob Xides

Accounting Minute with attorney Marty Schwartz

Properties for sale – Members can present one property for sale. Bring your For Sale

properties to the meeting, setup flyers on our For Sale table, and make some money

while you learn.

Vendor Parade - Come and see our vendors. We have a great array of service

providers.

John Kostelac –Update on our lawsuit against the city

8:00 – 9:00 Panel of Local Experts – Discussing how to locate, evaluate, and negotiate real

estate deals

Logistics:

Properties for Sale Table – I love this table idea. I wish I could remember who I stole this idea

from so I could give them credit. I think it was RICH Club from Houston. Even if it wasn’t, they do

a lot of good things and deserve credit for something.


2

Vendor Tables – Vendors are encouraged to set up trade show style in our vendor area and to be

prepared to give a 30 second intro of your business to the group.

Sub-Group Table – Don’t forget to look at the sub group table. We have a bunch of sub groups

now and you are bound to be interested in at least one of them. These groups are designed to

supplement the main meetings.

Online Club Calendar – In case you missed it, we added a calendar to the PittsburghREIA.com

website. This way we can keep track of recurring sub-group meetings and club activities all in

one place. Find it under the Events tab.

Membership Renewals

If you need to renew your membership before the meeting then just follow this link

http://pittsburghreia.com/membership/membership_application_form.pdf then print out your application and

bring it in with your check. It is that simple.

…Below is newsletter content that was sent in advance, for those of you who

prefer to read smaller chunks of information more often. It’s being

included for those who missed it…

(May 13)

More Info from Pittsburgh REIA Well for starters we are a little over a month away from the most important meeting of the year. Robyn Thompson the "Queen of Rehab" will be in Pittsburgh and at our meeting on June 21st. Your life can change at that meeting, you really don't want to miss it. We are 4 days away from our main monthly meeting this coming Tuesday. This will be a very good meeting as we will be talking about how to find great real estate deals, how to evaluate if a property is a deal or not, and how to make offers. You don't want to miss this one either. So I expect to see you all this Tuesday with networking starting at 6pm. Next on the list, it wouldn't be a real newsletter unless we expanded our growing list of sub-groups. This newsletter I have 1.5 new sub-groups for you. Let's start with the 1/2 a group. That wasn't a typo. We are building upon the Lou Brown Trust sub-group and adding the Lou Brown credit repair warriors group. So now this group will have two education

http://pittsburghreia.com/membership/membership_application_form.pdf


3

goals. To teach you how to use trusts for asset protection. and how to generate wealth by helping other people repair their credit. HINT: you can also use credit repair to get better rent and sales prices for your houses. This really is a big deal Now for the full sub-group birth. The day after the main REIA meeting, will be the first meeting of the East Hills Sub-group this is for all of you who live in that scorched earth beyond the Squirrel Hill tunnel. --------------------------------------------------------------------------------------------------------- REIA Member Benefits There are a ton of benefits available to Pittsburgh REIA members, the list is too big to take in all at once, so I decided to share two of them with you today. Hertz car rental - Up to 40% off with a free Gold Plus card Build-A-Sign - 15% off and free delivery 4Imprint Promotional Products - 10% off Credit Repair - $87 per month ------------------------------------------------------------------------------------------- MARKETWATCH - MAY 2016 THE STRESSES OF THE SPRING SELLING SEASON When most people think of spring, they think of chirping birds, blooming flowers, spring break and warmer days. In real estate however, we think of bidding wars, tough negotiations and making sure our clients are well represented in the purchase, and/or sale, of their most important financial asset. This spring is no different. The National Association of Realtors® reports that pending home sales have maintained their momentum by increasing for the second consecutive month and have reached their highest level in nearly a year. It's a solid start to the spring selling season which is expected to continue to climb upwards. Rising rents across most of the country are fueling buyer demand. In a recent Gallup survey renters are more worried about housing costs than homeowners at all income levels. When one purchases a property, they know that their costs will stay relatively stable and increase slightly overtime due to insurance and property tax adjustments. Renters, on the other-hand, face many market variables and drastic rate increases over a shorter period of time when compared to homeowners. Low mortgage


4

rates, which are easing affordability crunches in some parts of the country, and a healthy labor market, are also enticing buyers to act right now. While demand is up, inventory remains stagnant, which only serve to drive-up prices, and strain the patience of homebuyers everywhere. There are several steps a buyer can take to ease the stress that naturally comes this time of year. Come prepared! Know your financial status and credit limitations. They will affect the terms of a mortgage, the interest rate you will pay and the types of mortgages you can qualify for. Get pre-approved for a loan. Being pre-approved gives you bargaining power that you'll need in this highly competitive environment. Plus, you'll know how much house you can afford before shopping. Have your list of must-haves in order. If you must have a walk-out basement, then walk away from that gorgeous 2 bedroom condo, even though it seems like a great deal. Think long-term as well. Are you planning to have a family in the next two years? Then you need to consider school location as well. Use a real estate agent. I can provide you with market status reports, similar to the ones here that provide inventory in the area, median price and more. I know how to use this information to your advantage, help you negotiate, keep you informed, and walk you through the entire purchasing process. It's a stressful market out there, but it doesn't have to be. Align yourself with a good real estate agent (hint they are also investors) and let them lead you through the process and minimize the stress for you.

(May 9)

Lots going on this week, don't miss out. Commercial Subgroup When Tue, May 10, 7pm – 9pm Where -- Kings Restaurant, 2100 Old Washington Pike, Carnegie, 15105 Description - For investors who are interested in commercial real estate. All WPREIA members are welcome. Landlord Subgroup When Wed, May 11, 6:30pm – 8:30pm Where - Eat n Park Restaurant meeting room Waterfront in Homestead


5

Description An informal and friendly landlord subgroup meeting that provides support and information for each other. All WPREIA members are welcome to attend. This month we will have James Culley of JSC Properties speak to us regarding services that his company can provide to us as landlords. Jim is a fountain of knowledge and I look forward to hearing from him! Our second speaker is Tera Geishauser of Green Home Solutions and I am very excited to have Tera present to our group about all the possibilities of going green in our rental properties as well as in our personal home and daily living! Thursday May 12 - 2 events #1

Webinar: Renting to Tenants with a Criminal History Date: Thursday, May 19, 2016 Time: 12:00 pm to 1:00 pm REGISTER HERE: https://www3.thedatabank.com/dpg/419/mtglistproc.asp?formid=LandlordEvent&caleventid=30140 Good landlords who rent to tenants with records can help the tenants stabilize their living situation, be better able to support their families, and live law-abiding lives in the community. Screening out tenants with a criminal history can strain community resources, threaten family security, and lead to homelessness and recidivism. However, many landlords are understandably concerned about liability and safety when renting to those with a history. The Rental Housing Work Group would like to share with all of our landlord partners in Southwestern PA the best practices for renting to tenants with a criminal record so the tenant, the landlord, and the neighbors are safe and thriving. This webinar is the 5th installment in a new series specifically designed to educate private market landlords on how current humanitarian efforts can grow your business while meeting the needs of your tenants. So please share far and wide The Presenters Are: • Peter Harvey, Allegheny County Department of Human Services • Ngina Thompson, Renewal Inc • Bruce Schmolke, Pennsylvania State Parole • Rob Thornton, Pennsylvania State Parole • Kamar Williams, Landlord


6

• Steve Super, Landlord • Kendall Griffith, Gateway Rehab Braddock • Michele Lee, Pittsburgh Mercy Health System • Monica Hawkins, US Department of Housing and Urban Development • Stacy Pethia, Housing Authority of the City of Pittsburgh To ensure all who register can get this vital information, the webinar will be recorded and sent to all registrants afterwards. For questions contact Gale Schwartz at [email protected] or 412-281-1137 • $25 for Non-Members • Housing Alliance Members Free Convened by the Southwestern Pennsylvania Housing Alliance, the Rental Housing Work Group is a coalition of organizations and individuals committed to expanding affordable quality rental options for individuals and families who face barriers to housing. Using collaboration, coordination, education and risk management, we bring nonprofits together with rental housing owners and managers to advance the goal of a home within reach of every southwestern Pennsylvanian. The Rental Housing Work Group was formed under the Southwestern Pennsylvania Housing Alliance Network, which is a broad-based venue for persons interested in the community development, affordable housing and homeless arenas to come together, discuss trends, share resources, and develop strategies to meeting the housing needs of our community. Gale Schwartz Project Specialist Housing Alliance of Pennsylvania 710 Fifth Avenue, Suite 1000 Pittsburgh, PA 15219 (p) 412.281.1137 www.housingalliancepa.org #2

Thursday May 12th for the 4th Annual Business Expo / Home Show. Hosted by Dicerbo Otis-Dicerbo Properties Real Estate & Landlord Association of Westmoreland County 5-8 pm 100 Colony Drive Irwin PA 15642 networking, food, prizes, raffles, and more


7

Come and meet service business that want to help you with your real estate business. I will be there and I will be collecting business cards from everyone I meet. Sunday 5/15 Kings Restaurant in Imperial/Oakdale 6-8PM Creative Finance group. meeting Bring your deals, and properties you are looking at. This is a very lively group, no theory only live deals. ------------------------------------------------------------------------------------------------ Homes 4 Sale 149 April Way, Braddock, Pa 15104 This property is a 3bd/1ba home. It was purchased from the bank slightly over a year ago, and has been sitting waiting for a smart investor to come along and restore it to its original beauty. This is a complete rehab; flooring, electrical, drywall, plumbing, as well as some roof work will be required. If you are interested in purchasing this home, the asking price is $7,500. OWNER FINANCING IS AVAILABLE on the home as well; $2,000 down, 150/month for 10 years. 7116 Doak St, Pittsburgh, Pa 15235 This property is a 3bd/1.5 ba home. It was also purchased from the bank, and would need a full rehab, this property DOES NOT need any work done to the roof however. If you are interested in purchasing this home, the asking price is $13,500. OWNER FINANCING IS AVAILABLE on this home; $4,500 down, $210/month for 10 years. Both of these homes are ideal for any investor looking to buy and hold!!! P.S. If you are interested in purchasing both homes at the same time, the asking price is $18,000. P.P.S. I can be reached via email at [email protected] or by phone at 267-607-3457.


8

(May 5)

Happy Mothers Day (no creative finance meeting today)

"If evolution really works, how come mothers only have two hands?" Milton Berle Today is Mother's Day, enjoy the day with your family and we will get back to real estate investing on Monday. The Creative finance group will not meet today because family is more important than money.

(April 25)

Vote Today, and some real estate updates of note VOTE Tomorrow Tomorrow is primary election day. This is the day where we are all required to chose our candidate for the many positions, most notably the President of the United States. It is very important that you vote if you are able. If for no other reason so that you can complain for the next 4 years, that your guy would have done a better job than the jerk who actually got elected. I don't believe that I have ever voted for a future president in the primary, not freaken once. Candidates should pay me to vote for their competition. Ok enough of that tirade. ---------------------------------------------------------------------------------------------------------- Credit Repair Update, I am getting a lot of questions about how to sign up. There are two ways to do this. You can either bring the application that we passed out at the last REIA meeting with you to the next REIA meeting on the 17th of May, or you can mail it in to us at. Pittsburgh REIA 1525 Park Manor Blvd, Suite 261 Pittsburgh PA 15205 If you don't have an application then you also have two options. You can follow this link for more information and then click the "career opportunity" tab on the left and fill in the blocks tionservices.com/Opportunity.aspx?rid=JCaldwell1 Or if you want to repair your own credit, or if you want to offer credit repair to your tenants without becoming a credit repair agent, then click this link. If you want to claim $75 for yourself, then email me after your tenant signs up, and when I get paid, you get paid.


9

https://www.financialeducationservices.com/cr_full.aspx?rid=JCaldwell1 Any questions, email me direct [email protected] to your success Josh ------------------------------------------------------------------------------------------------------------- Biggest news of the day Our East Hills Sub -Group, known on Facebook as the Pittsburgh REIA East Hills Sub Group will have its first meeting at the Panera in Penn Center Shopping Center on May 19 7-8:30. see you there! PS send me a PM if you need to be added to the facebook group -------------------------------------------------------------------------------------------------------------------- Are you free this weekend? This Saturday May 2nd 9:00 Am at 725 5st St Coraopolis, PA 15108 This is a sheriff sale of the contents of a kitchen and bath company which went out of business. On top of the regular office stuff, there is also kitchen cabinets, and bathroom tubs, sinks, etc. There could be some great bargains here. The reason that I am promoting this is because REIA members like to save money, and it was a REIA member who got ripped off by this company as they went out of business that forced the sale in the first place. Our own lawyer, Rob Xides is key in forcing this sale. Every dollar take in goes to pay back one of our REIA members. So if you need anything, go buy it cheap --------------------------------------------------------------------------------------------------------------- Also on the subject of auctions Came across something that might be interesting to REIA members... there


10

is an auction house named Paranzino Auctioneers that does Home Improvement & Building Material Auctions in surrounding states... you just sign up by giving them your email and they send reminders about where and when for the auctions... http://www.pbauctions.com/ --------------------------------------------------------------------------------------------------- I got some more clarification of the Fair Housing Act. Fair Housing Act: Criminal History-Based Practices and Policies APRIL 7, 2016 In the recently issued "Office of General Counsel Guidance on Application of Fair Housing Act Standards to the Use of Criminal Records by Providers of Housing and Real Estate-Related Transactions (link is external)", the U.S. Department of Housing and Urban Development ("HUD") urges housing providers to exercise caution when implementing criminal history policies or practices used to make housing decisions. For Sale sign in front of condosHUD's guidance comes on the heels of the Supreme Court's decision (link is external) last summer, which held disparate impact claims are cognizable under the Fair Housing Act.1 While persons with criminal records are not a protected class under the Act, HUD stresses that criminal history-based barriers to housing have a statistically disproportionate impact on minorities, which are a protected class under the Act, and as such, creating arbitrary or blanket criminal-based policies or restrictions could violate the Fair Housing Act ("FHA" or "Act"). To be clear, HUD's guidance does not preclude housing providers from crafting criminal history-based policies or practices, but the guidance makes evident that housing providers should create thoughtful policies and practices that are tailored to serve a substantial, legitimate, and nondiscriminatory interest of the housing provider, such as resident safety or the protection of property. HUD includes context for its guidance, and offers statistical evidence that the United States minority population experiences arrest and incarceration at rates disproportionate to their share of their population. For instance, HUD asserts that in 2014, African Americans were incarcerated at a rate nearly three times their proportion of the general population. In the context of criminal history policies or practices, disparate impact liability is determined using a burden-shifting framework that first requires a plaintiff or HUD to prove that the criminal history policy or practice has a discriminatory effect, meaning the policy or practice results in a disparate impact on a group of persons because of their race, national origin or other protected characteristic under the Act. In this step of the process, evidence must be provided that demonstrates that the criminal history policy or practice actually or predictably results in a disparate impact. If successful, the burden then shifts to the housing provider to show that the policy or practice in question is justified. Here, the housing provider must show that the policy or practice is necessary to achieve a substantial, legitimate, nondiscriminatory interest of the housing provider, and further, that the policy or practice actually achieves that interest.


11

Finally, if a housing provider is successful, the burden shifts back to the Plaintiff or HUD to prove that the housing provider's interest could be served by another practice that has a less discriminatory effect. The determination of whether a criminal history-based policy or practice has a disparate impact in violation of the Act is ultimately a fact and case-specific inquiry. However, HUD's guidance provides insight into how to create a legally defensible policy that does not violate or frustrate the FHA's prohibition on the discrimination in the sale, rental or financing of dwellings or in other housing-related activities. We recommend review of HUD's guidance, but have distilled that guidance to assist in reviewing existing criminal history-based policies or practices or in the creation of a new one: Criminal History-Based Housing Policies and Practices Do's and Don'ts Create tailored criminal history-based policies/practices. Don’t create arbitrary or overly-broad criminal history-based policies/practices. Be sure to have clear, specific reasoning for the criminal history-based policy/practice that can be supported by evidence. Don't maintain a policy/practice, or any portion thereof, that does not serve a substantial, legitimate, nondiscriminatory interest. Exclude individuals only based on criminal convictions that present a demonstrable risk to resident safety or property. Don’t create exclusions based on arrest records alone. Consider the nature and severity of an individual’s conviction before excluding the individual based on the conviction. Don't create a blanket exclusion of any person with any conviction record. Consider the amount of time that has passed since the criminal conduct occurred. Don't provide inconsistent explanations for the denial of a housing application. Consider criminal history uniformly, regardless of an individual’s inclusion in a protected class. Don't use criminal history as a pretext for unequal treatment of individuals of a protected class. Treat all applicants for housing equally, regardless of protected characteristics. Don't use comparable criminal history differently for individuals of protected classes.


12

Conduct individualized assessments that take into account mitigating factors, such as facts and circumstances surrounding the criminal conduct, age at the time of the conduct, evidence of good tenancy before/after conduct, and rehabilitative efforts. Don't make exceptions to a policy or practice for some individuals, but not make the same exception for another individual based on the individual’s inclusion in a protected class. Housing providers may exclude persons convicted of the illegal manufacture or distribution of a controlled substance. Don't include a blanket prohibition against individuals convicted of drug possession.

(April 22)

3 More Updates Going Into This Weekend I just wouldn't be a weekend without an update and today I have 3 for you. Enjoy your Friday and think about a life with no more Mondays The first is that we are adding another house to the rehab house tour this Saturday the 23rd. So the official house tour schedule will start at the first house at 10 am and then move from there. Here are the updated details Josh, If you can blast this out to the group !!! Rehab House tour in Pittsburgh We have a really great rehab house tour set up for Saturday the 23rd Rehab Tour number 2 is falling into place ,we are ready with five properties for April 23rd. Special thanks to Jim Culley and Brian Snyder for putting this together. This tour is FREE to all Pittsburgh REIA members. We will start out at 10 o'clock in the morning in Lawrenceville to our first house which is Brian Snyder's 400,000 flip. Then onto North Hills and Penn Hills ,quite a variety of different renovations. First up at 10 o'clock is also where we will meet, plenty of parking for us to get together. It would be a good idea to buddy up from there, parking at some of these stops is limited. 1) 152 47th St. 15201 Lawrenceville (meet here at 10:00) 2) 101 5th 15229 Ross TWP. 3) 1922 Bader Springhill 15212 4) 324 Whittier Penn Hills. 15235 5). 505 Lougeay Rd. Penn Hills 15235


13

I'll be posting also on Facebook also. See you all there! James Culley JSC Properties LLC P.O.Box 2036 Lower Burrell,Pa 15068 724-448-0562 Cell [email protected] www.jscproperties.net --------------------------------------------------------------------------------------------------- Update #2 involves the credit clean-up program As you know there are two ways for us as investors to make money with tenants who have bad or ugly credit. We can start our own credit clean up franchise for less than $300 and let the credit repair company do all the work of fixing peoples credit through their proprietary way of addressing negative credit info. With this method you make $150 per person plus you can make all sorts of residual income by sponsoring other people into the business. Lou Brown laid out the plan to make a $100,000 per year income just by talking to people with bad credit, you know, the people we used to get rid of because we didn’t want them as tenants!! Now they are gold. The other way to make money while helping people who need credit repair is to refer people for credit clean up to me. I can handle this for you. I will make this super easy for you. All you need to do is to send me an email with their name and contact info and I will send you $75 when they sign up and I get paid, is that simple enough? For more info on how you can make money as a credit repair agent, copy and paste the link below https://www.financialeducationservices.com/Opportunity.aspx?rid=JCaldwell1 For more info about the credit clean up process copy and paste the link below https://www.financialeducationservices.com/learn_more_uces.aspx?rid=JCaldwell1 if you have a perspective tenant or a friend who needs to clean up their credit, copy and paste this link. Actually you need to keep this link handy as we all run into people who need credit repair. Do you have an easier way to make money that sharing a link with someone who needs it?????? I sure dont.


14

https://www.financialeducationservices.com/cr_full.aspx?rid=JCaldwell1 ------------------------------------------------------------------------------------------------- Update 3 This one is the progress with our law suit against the City of Pittsburgh First off, the court ordered that all the suits against the City be consolidated, this means that the Realtors Association of Metropolitan Pittsburgh or RAMP will be joining our merry little band of litigants. Yay for our team. What this boils down to is that we now have one more group of lawyers working on our side for the purpose of discovery. In a not so related legal matter Judge Friedman issued a ruling that the court will not enforce any rental contract for residential housing with 3 or more unrelated individuals in a single family residence, due to the fact that the contract was illegal in the first place. For those of you who don't know about this, in PA it is illegal for 3 or more unrelated individuals to live in the same single family dwelling in the first place. This is an old anti-brothel law which is still on the book and mostly used to enforce student housing prohibitions. That is why multi-family and group home zoning is important if you want to house groups of individuals legally.

(April 21)

Pittsburgh Rehab House Tour this Saturday and More This is all leading up to our June 21st Rehabbers educational expo with the legendary Robyn Thompson. Mark that date on your calendar. We have a really great rehab house tour set up for Saturday the 23rd Rehab Tour number 2 is falling into place ,we are ready with five properties for April 23rd. Special thanks to Jim Culley and Brian Snyder for putting this together. I really can't say enough about the good work the Jim and Brian are doing. These guys aren't just two guys who volunteered to help educate other Pittsburgh rehabbers, these two guys are top professionals who make their living flipping houses. There is no vague theory here, you actually get to see how the pros are really doing it. DON'T miss this event. This tour is FREE to all Pittsburgh REIA members. If you aren't a member yet, then you can bring your completed application to the tour. Here is a link to the application. -


15

http://pittsburghreia.com/membership/membership_application_form.pdf We will start out at 10 o'clock in the morning in Lawrenceville to our first house which is Brian Snyder's 400,000 flip. Then onto North Hills and Penn Hills ,quite a variety of different renovations. First up at 10 o'clock is also where we will meet, plenty of parking for us to get together. It would be a good idea to buddy up from there, parking at some of these stops is limited. 1) 152 47th St. 15201 Lawrenceville (meet here at 10:00) 2) 101 5th 15229 Ross TWP. 3) 324 Whittier Penn Hills. 15235 4). 505 Lougeay Rd. Penn Hills 15235 ______________________________________________________________ Now for more good stuff I know a lot of you wanted to attend the credit repair presentation that Lou Brown gave on Tuesday. This is super sexy. Now we have a way to make piles of money by helping people with bad credit. We usually just tell them that they have failed the credit check and send them away. Now they are like little nuggets of GOLD for us. Send me your credit criminals, send me your losers, send me your deadbeats. I have a way to turn them into cash. Better yet, you can do this too. I am working with Lou Brown to create a webinar to explain the business end of this program. You need to keep a lookout for this and you need to be excited, I sure am. Lastly, those of you who were at the meeting, email me directly to get started in credit repair for yourself, as a credit repair agent (you own the business) or both. [email protected] To your success Josh


16

Our Business Partner Members


17


18


19


20


21


22


23


24

www.USAREMentoring.com

USA Real Estate Mentoring Group

“Your Highway to Success”

Mentoring is the key to your success in Real Estate Investing!

We are:

-Successful Investors Currently Investing in Today’s Real Estate Market

- Best Selling Authors

-Our Group of Mentors Have Personally Trained Over One Hundred Real Estate Investors

-We KNOW Pennsylvania, and How to Invest Legally in Pennsylvania!

-Access to Our Team Members and Systems

-We Meet Once Per Month in the Pittsburgh Area (Wexford)

-1st Meeting is Free

-Different Levels of Training and Pricing Available

Visit www.usarementoring.com for more info

Brian Snyder: 412-992-8884

http://www.usarementoring.com/

http://www.usarementoring.com/

WPREIA Newsletter May 2016 - Pittsburgh REIA

Documents

Transcript of WPREIA Newsletter May 2016 - Pittsburgh REIA