the re investment news - december 2017
TRANSCRIPT
REDECEMBER 2017
T H I S I S S U E Event Calendar
MAREI Member Benefits for 2018
Market Update
Business Directory
R E A L E S T A T E N E W S
New Director of CFPB
Bill to Repeal Dodd-Frank
Missouri & Jury Trial for Evictions
Missouri Advocacy Days
M A R E I . O R G
S P E E D N E T W O R K I N G & T O Y S F O R T O T SBRING BUSINESS CARDS & TOY DECEMBER 12TH
N EW S L E T T E R O F M I D - AM E 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
N E W S INVESTMENT
*Accounts must be registered/enrolled through the website above to receive rebate credit. Registration instructions to follow. **Rebate payments
follows outlined in enrollment guide. $1000 will be paid with The Home Depot Gift Cards. *** - gift cards are provided to participants by NREIA not Home
Depot **Exclusions Apply. We reserve the right to limit quantities to the amount reasonable for our regular customers. In the event of an error, we will
make every reasonable effort to accommodate our customers. Details on any product warranty available at store. See contract for guarantee details.
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Join the FREE Pro Xtra Program to receive: • 2% semi-annual rebate*
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• Volume Pricing on large orders across the store
• Dedicated national support team
• Bulk pricing discounts on thousands of items
• Flexible credit options with no annual fee
• Exclusive appliance program with custom
catalog for MAREI members
Sign up instructions in MAREI Member Benefit Guide.
You will find a list of other groups complete with links to details that
meet through out the Kansas City Metro area listed at
MAREI.org/Calendar/Other-Groups
DEC MTG
FROM OTHER GROUPS >
THE CALENDARMARE I . ORG / CA L ENDAR
SPEED NETWORKING TO BENEFIT TOYS FOR TOTS
JAN MTG P U T $ 2 0 K I N T H E B A N K E V E Y M O N T H
Bring your business cards, your elevator pitch and a new unwrapped toy or gift card and come prepared to network with roughly 30 others in attendance. We will have a quick 5 to 10-minute instruction as well as a way to connect with more online after the meeting.
Join us Tuesday, December 12th from 6 pm to 9 pm.
Monthly meetings are held at the Holiday Inn at 8787 Reeder Road, Overland Park, KS. The December MAREI meeting is free and open to the general public at no charge. We do ask that everyone pre-register at MAREI.org and bring a donation for Toys for Tots.
MASSIVE WEALTH - 2 DAY WORKSHOP WITH ROBYN
JAN WKSHP
Robyn Thompson is coming back to Kansas City on January 13th and 14th for a 2
Day Massive Income Workshop on Profiting with Rehab Flips Building Passive
Wealth with Keeper Properties. This workshop has special early bird pricing
through Sunday January 7th of $59 for members and $89 for Non-Members and
both can bring a family member or business partner for $30. Get Registered at
MAREI.org.
03RE INVESTMENT NEWS
Mailing Address:
6709 W 119th #332
Overland Park, KS 66209
Phone: 913-815-0111
Web: MAREI.org
Web: MAREIMember.com
Email: [email protected]
Views and advertising expressed in the
RE Investment News are not necessarily
endorsed by Mid-America Association of
Real Estate Investors. The information
contained within should not be
construed as a recommendation for any
course of action regarding financial,
legal, or accounting maters by Mid-
America Association of REal Estate
Investors.
Email to inquire about advertising
oportunties or membership.
We are very excited at MAREI to announce that Robyn Thompson, “The Queen of Rehab”, will be our special guest speaker on Tuesday, January 9th at 7:30 PM. Robyn has visited our group many times over the years and each time she delivers something very powerful and special. This meeting will introduce you to Robyn's way of investing in junker houses and bringing them back to their glory, to sell and make a profit.
Monthly meetings are held at the Holiday Inn at 8787 Reeder Road, Overland Park, KS. Meetings are FREE for Investor Members and First Time Guests who pre-register. all others will pay $25 at the door or $15 when they pre-register in advance. Register at MAREI.org.
04 RE INVESTMENT NEWS WWW.MAREI.ORG
BILL INTRODUCED TO REPEAL DODD-FRANK
real estate news
the Dodd-Frank Wall Street Reform and Consumer Protection Act. With nearly 20 co-sponsors on both sides of teh aisle, that is supported by the Mortgage Bakers Association, the Independent Community Bankers of America, and the National Association of Home Builders.
While this would roll back regulations from the industry, some experts see it as a dangerous step. The Center for Responsible Lending, the National Community Reinvestment Coalition and the National Consumer Law Center, announced opposition to the bill.
After Richard Cordray, the Consumer Financial Protection Bureau director since 2012, stepped down in Mid-November, President Trump announced the appointment of OMB director Mick Mulvaney (previous co-sponsor on the Seller Finance Enhancement Act) to become acting director of the agency on top of his duties with OMB. Subsequent to that President Trump’s announcement, then deputy director of the CFPB, Leandra English voiced her concern over the appointment.
There is a fight brewing over the ability of this appointment, but for now Mulvaney is the acting director and outspoken opponent of the CFPB,
NEW DIRECTOR OF CFPB
The Senant Banking Committee introduced Senate Bill 2155, the Economic Growth, Regulatory Relief and Consumer Protection Act, contains policies which would roll back or eliminate key parts from
ANNOUNCING: MISSOURI VACATION HOME ALLIANCE Short Term Rental Owners are already facing a fight. In places like Stone and Taney County our tax status is changing from Residential to Commercial in 2018 and your bottom line will be affected if you do nothing. In places like Marilyn Heights in the St Louis area a fight is waging to stop the complete banning of Vacation Rental properties. Municipal Officials all over our state are feeling bold by their
004RE INVESTMENT NEWS
ability to enact regulation that will continue to damage and discourage this industry.
If you own short term rentals or plan to in the state of Missouri we encourage you to get involved. Visit www.MoVacationHomeAlliance.com.
The Missouri Supreme Court on Tuesday saidparties in a landlord-tenant dispute have a right to a jury trial at the associate circuit level. The case stems from a lawsuit filed in 2015 by St. Louis apartment company Brainchild Holdings LLC alleging that a tenant, Stephanie Cameron, was behind in her rent and seeking to evict, the court denied Ms Camerons right to Jury Trial. ON appeal, the MO Sureme Court agreed with Ms Cameron in a 7-0 decision and remanded the case for trial by jury.
This is going to be a huge change for landlords, their attorneys and the courts. What those changes will actually be remains to be seen. It is reasonable to believe that costs will increase; it is reasonable to expect timing of setting cases for hearing to lengthen.
MISSOURI SUPREME COURT UPHOLDS TENANTS RIGHT TO JURY TRIAL
05
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landlords. If you are a member of any of these organizations you are also a member of Missouri POA. Not a member of one of these organizations you can join as an individual or bring your own association to join.
Missouri POA has scheduled it's Advoacy day where participating members will converge on the Capitol Building in Jefferson City and meet with legisaltors to share their support of Missouri POA's legislative agenda.
To become a member of Missouri POA, to learn more about membership or to volunteer to take part in the Advocacy Day, please visit www.MissouriPOA.org
Missouri POA's advoacy day conincides with the first day of the Missouri Realtors Capitol Conference and provides a great opportunity to meet with legislators and to get involved.
MISSOURI PROPERTY OWNERS ADVOCACY DAY SET
The Missouri Property Owners Association is seeking members and participants. Tasked with protecting the rights of property owners in the State of Missouri their legislative agenda for 2018 includes a bill to limit cities rights to require landlord licesning and interior insepctions as well as to stop city owned utility companies from charging the property owner with a rental tenants unpdaid bill. They are seeking individual and assoication members. Current Association members include: Landlords of Eastern Jackson County, Metro East REIA, MAREI and Butler County
SPEED NETWORKING HOW TO GET THE MOST OUT OF THE EVENT
by Kim Tucker
Speed networking evolved from speed dating. It is a model of meeting a lot of people in a short amount of time. The set up usually involves a bunch of people paired off and given 1 to 2 minutes to each share their elevator pitch and at then moving on to the next pairing. This gives you a very short amount of time to share what it is that you do, or need or have and it allows you in a little over an hour the opportunity to meet with about 30 to 40 people.
For the December 12th MAREI meeting, we expect about 120 people in attendance and we are have from 7pm to 9pm to not only have our introductions and instructions, but also a 10 minute mid-way break at about 7:50. That give us just under 90 minutes for our
remember your pitch of who you are, and what you want to share will keep you on task. Possibly have two or three pitches to test out depending on the person you are speaking.
Have Questions to Ask: Your potential partners may not have prepared as well as you or maybe shy, so having ready questions ready to go, will help you stand out. Things like “Where do you need help? What type of deal are you looking for?
Come Prepared. In a little under 5 minutes there is no way you can share your life story and work history. Bring a business card or flyer on your business to exchange. And bring a pen ready to take a few notes on the back of the business cards you receive.
speed networking. If we provide each person with a 60 second pitch we can talk with about 45 people and if we provide each person with 90 seconds, we can speak with 31 people.
Tips to Make Speed Networking Productive
RSVP for the Event: The promoters putting on the event have to make sure there is time and tables for everyone, so letting them know you are attending in advance will help them prepare.
Know Why You are There: Are you testing out new messaging. Looking for deals, funding, byers. Knowing what you hope to accomplish will help you stay focused.
Know What You Will Say. Having a short cheat sheet so you can
06 RE INVESTMENT NEWS WWW.MAREI.ORG
08
Follow Up. In the days that follow the event, follow up with your new connection. Send them a brief email telling them how good it was to have met. Follow up on any notes you may have taken at the event and continue to nurture the relationship into the future. You may find a hot prospect at the event or it may be that you need the services of the people you meet a bit into the future and vice versa.
Travel Light: It is important to remember you will be talking, a lot and that you will be moving a lot. We suggest leaving items that you just don’t need at home or in the car such as a backpack, briefcase or purse. You will need your business cards and a place to keep them, a place to put cards you
private lender in the future . . . a partner . . . mentoring?
I see you have done a lot of renovations on houses, do you ever have need of a contractor, flooring, . . . what ever service you offer?
I see you wholesale a lot of house, how can I get signed up on your list?
I see you buy a lot of houses, would you like to be added to my buyers list?
I am really new to investing, who is the best person you recommend here at MAREI for me to meet?
Would it be possible for me to follow up with you via email / phone later ?
collect, a small notepad and pen and we suggest a bottle of water.
Sample Speed Networking Questions to Ask
When you show a real interest in your partner at a speed networking event will help you form connections. By listening carefully to what they have to say and having a follow up question will show that you are listening and understanding.
You don’t have a lot of time, so having a few key questions you have reviewed and practiced in advance is helpful.
I am intrigued by the projects you have done, would you be interested in a
07RE INVESTMENT NEWS • PAGE
Toys for Tots DonationsOver 97% of your donations go to Toys for Tots mission of providing toys,
books, and other gifts to less fortunate children. Less than 3% is spent on
fundraising and overhead.
To donate we suggest any new unwrapped toy that you would buy for
your own child or grandchild. You can donate to any local
area drop off, we suggest the December 12th MAREI
Meeting.
If you would like to make a monetary donation, we will
be accepting cash at the meeting or you can donate
online right now at www.ToysforTots.org.
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09RE INVESTMENT NEWS • PAGE
MARKET UPDTATE October 2017
3,056homes sold
-0.6% Decrease from 2016
55average days on
market11.3 % Decrease from 2016
97.2% of asking price0.6% Increase over 2016
$13k$13,182 average
sale price
increase from
same time
last year (6.1%)
3,285pending sales13.7% Increase over 2016
7,665houses for sale 16.9% decrease
2.9 month supply
a 17.2% decrease
average: $228,700
median: $190,000
It has been several months since news cycles have touched upon housing in any sort of
sensationalistic headline grab that was common during the boom-and-bust atmosphere of a
decade ago. During that tumult, heady price increases gave way to a Great Recession and
foreclosure crisis. Then we entered into a period of healing and eventual recovery that we are
still enjoying. For residential real estate in 2017, fewer headlines have meant mostly good
news.
Although inventory levels are low in many markets, there has largely been enough listing and
building activity, or at least conversation about future activity, to keep prices from skyrocketing
toward another bubble. Low affordability has started to become a recent topic of conversation
and is definitely worth watching. But with a healthy economy, level of demand and
the national unemployment rate, sellers are going to be hard-pressed to lower prices.
For further detail see http://www.kcrar.com/statistics
New & Existing Combined
Data from
11RE INVESTMENT NEWS • PAGE
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