1212 KREIA.com Newsletter Nov/Dec 2012

Monthly Newsletter for KREIA Members

Vol 12-12

President’s Letter

President’s Letter page 1

Ed Melton Award

There has been a lot happening since last month’s newsletter both with Kreia and in the outside world. Most notably of course is the election. The results may not be what many of us wanted, but whatever your party affiliation, it’s time to put one foot in front of the other and move on. We still live in the greatest country in the world and I for one am keeping the faith that it will always be.

Kreia always has a slightly different agenda for the Holidays.

There is NO MEETING in November.

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KREIA will have a combined November/December meeting TUESDAY, December 11 onboard the CQ Princess at Captain’s Quarters Restaurants

NEW Member Benefit!

CBG

5700 Captains Quarters Road, Prospect, KY 40059

Boarding starts at 6:00 so don’t be late or you will literally “miss the boat!”

page 4

Message From Your Treasurer Elect Aru Tarr page 5

Member Spotlight Dick Vreeland Page 8

It is already sold out and even though it won’t be the educational agenda as KREIA usually strives for, there will be a lot of fun and networking and dancing to the Lamonte Gelispie Band, in addition to your annual presentation of the Ed Melton Award and Home of the Innocents presentation..

This is your last KREIA meeting of 2012 and you get to take a slight break from meetings and social events until after the first of the year. It is my sincere wish for everyone to enjoy the upcoming Holidays and relish the time with your families and friends and be truly thankful for all we have.

Happy and successful investing especially as we move into the next new year.

Govt Affairs Update page 11

Your President,

Connie Horsey P.S. Please take photos at KREIA with your cell phone and email to KreiaTreasurer@gmail.com - No photos were sent in last month.

Copyright MMXII Kentuckiana Real Estate Investors Association•P.O. Box 17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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

President Connie Horsey

Vice President Dennis Erhard

Secretary Treasurer Treasurer Elect Chris McCarty Mike Grinnan CPA Aru Tarr

Board of Directors

Mike Butler

George Foree

Linda Brun

Duffy Ford

Eric George

Dan Jones

Jean Hall

Jay Long

Mark Hass

Rue McFarland

Frank Miller

Dick Vreeland

KREIA Newsletter published 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 To Advertise on KREIA.com To Sponsor A Monthly Meeting To Sponsor A LOTS Program Please contact KreiaTreasurer@gmail.com

KREIA Sponsorships Diamond: Full Page Ad + Table + Pre-

Meeting Speaker Only $995 or $99 mo.

Gold: Half Page Ad + Table + PreMeeting Speaker Only $499

Silver: ¼ Page Ad Only $299 Parliamentarian Hank Schildknecht

Immediate Past President Mark 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!)

Business Card : Ad Only $149 Event Sponsor: Meeting, LOTS,

Saturday Seminars, and more!

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Place Your Ad Now at KREIA.com --------------------------------------------”KREIA Advertising is by far, hands down, the absolute best advertising dollar ever spent for Borders & Borders!”

Harry Borders, B&B Attorneys

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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December KREIA Meeting The ED MELTON Award The old timers in KREIA had the privilege to know Ed Melton, Sr. Ed was, without doubt, the greatest recruiter in the history of KREIA. Every person that Ed came in contact with regarding a real estate matter was told of the merits of the Kentuckiana Real Estate Investors Association and encouraged to join.

Ed was an active member on the KREIA Board of Directors on which he served for many years. He was also a dedicated mentor to many novice investors and enjoyed passing on his experience and wisdom.

I had the privilege to work with Ed for many years as his attorney. It was a unique learning experience for me to close Ed’s contracts and observe first hand his methods of insuring a true win-win situation for all parties involved in each transaction.

After his death in 1998, the Board of Directors created an award to be given in his name. The board established the following criteria to be used in selecting each recipient: 1. Contribution to membership education; 2. Development of fellowship; 3. Active recruitment of KREIA members; and 4. Active participation in the real estate industry.

The following individuals have received this most coveted award.

1998--Mark Lechner 1999--Rue McFarland 2000--Chris McCarty 2001--Hank Schildknecht 2002--Chris Dischinger 2003--Rosetta Melton 2004--Joe Hampton 2005--Mike Butler 2006--Jim Gardner

2007--George Foree 2008--Alan Johnson 2009--Dick Vreeland 2010--Connie Horsey 2011--Noble Roberts As you can see from reviewing the above named recipients of the award, each of them has been very active in KREIA and greatly contributed to its success.

On November 1, the prior recipients of the Ed Melton Award met for their annual reunion. The purpose of the gathering is to talk about the relationship that all of us has had with KREIA, remember and pay tribute to Ed Melton, and to select the person that will be honored this year.

As you can see from the attached photograph of the event, we had, as always, a great turnout. Only two could not attend, Rosetta Melton and Dick Vreeland. Unfortunately, we lost our first member this year with the passing of Alan Johnson.

I can assure you that each member of the selection committee has taken his or her mission very seriously in designating a deserving KREIA member to receive the award given in Ed’s memory.

This will be the 15th year that the award has been presented. It is one of the highlights of the year, and we look forward to honoring this year’s recipient at the December meeting.

Henry Schildknecht (502) 893-4494 phone (502) 893-4495 fax hankatty@gmail.com

Copyright MMXIII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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Brand New Benefit for KREIA Members.

Special thanks to Linda Brun, President Connie Horsey, and your board members in putting together another great member. As a current KREIA member, you get free membership. All others pay $99 year.

8 minute Overview Video http://kreia.com/cbg

Check out KREIA.com for more details soon along with a special presentation from Ben at Community Buying Group.

Community Buying Group now offers current KREIA Members the ability to buy like larger companies, allowing smaller companies to be more competitive.

Through relationships with our Premier Supplier Network, CBG offers special incentives and pricing on products that KREIA Members use every day.

In addition to improved customer service and pricing from our Supplier Network, KREIA Members also gain visibility with other CBG Members that may be able to use your Products or Services.

FREE Savings Calculator Simply Enter How Much $$$ You Spend on Paint, etc. to See Your Savings Now

Community Buying Group's membership is made up of Contractors, Property Owners, Investors, Landlords, Property Management Companies, and Real Estate Investor Groups that have the ability to network together.

Community Buying Group's mission is to help KREIA Members be more profitable, receive better Customer Service from their Suppliers and effectively communicate with other Members in their community to share knowledge and increase business opportunities.

Go to http://KREIA.com/cbg

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How Your KREIA Annual Dues Work Aru Tarr – Treasurer Elect Dear Kreia Members, Kreia is striving to make your dues renewal process run more efficiently, to minimize the work of all of our volunteers and to speed things up at the door. As Mike Butler presented at the last meeting, there is now a simple way for you to renew your dues online, rather than having to write a check at the door. You can do this by logging in to Kreia.com and clicking on the tab “Join Now.”

Effective January 1st, 2013 ALL DUES PAID BY CHECK WILL BE $119, even if you are renewing. If your membership dues are late by 3 months or more, there is an additional $20 re-activation fee. ALL Memberships paid through PayPal’s Annual Auto-Charge will cost $99 per year, except the first year for new members which is $119.

You can locate the date you are paid through on the first page as soon as you log in, next to “Dues Paid Through”.

NOTE: This date may not be accurate if you did not sign up . If it appears that you have expired even though you know you have paid, or if you are unsure when you paid, please email kreiatreasurer@gmail.com for help.

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Tenant Wins $3 Million when Tree Falls In Her Yard!

Attorneys for a tenant who was injured when a tree limb fell in the yard of her rental home have announced the tenant won a nearly $3 million verdict against the landlord.

A San Bernardino jury found the landlord negligent because he did not adequately inspect the property before the tenants, a family of five, moved in, according to the legal team of Bergener & Associates, which specializes in personal injury cases.

The woman sustained serious injuries when a branch fell on her legs and feet. Later investigation revealed that the tree was hollowed by rot.

In their blog, the Bergener firm explains that lawyers tried unsuccessfully to settle with Farmers Insurance, the landlord’s carrier, for the policy limit of $1 million but the insurer refused, and submitted counteroffers that did not cover the woman’s extensive medical bills. Attorneys then opted to take the case to trial.

Lawyers made the argument that the landlord should have known of the dangerous condition of trees on the property because he worked in construction and landscaping, and he failed in his duty to inspect the rental property for hazards before the family moved in.

The tenants also brought up the claim that fallen branches had caused damage to the property in the past, and others had been removed.

The jury concluded that the landlord was aware that the tree posed a risk to the safety of the tenants, and failed to remove that risk or warn the tenants of the danger.

The tenant was hospitalized for several months after her injuries, and continues to suffer limited mobility which interferes with her ability to care for her young children.

It’s important for a landlord to remain visible to their tenants, and also to get some feedback from time

to time.

One way to accomplish both is to survey current tenants — find out how they feel things are going. Are there repairs that haven’t been fixed? Are leasing employees responsive? Would they recommend the property to friends?

One easy way to get feedback is to go to SurveyMonkey.com and set up a survey – many options are free. Then, email the link to tenants. Leave space for comments so tenants can share any concerns they have or bring up issues you may not have considered.

Don’t fret over the results — negative comments merely signal areas that can be improved, so tenants remain happy and rentals remain profitable.

And it certainly doesn’t hurt to share positive feedback with prospective renters!

According to a report by the Multifamily Research Group of Freddie Mac, landlords can expect steady, slow economic growth with an additional 1.7 million new multifamily renter households between now and 2015.

In addition, the paper forecasts that the multifamily market and demand for rental housing will remain solid and healthy during the same period of time.

The forecast analyzes demographic trends, housing supply and economic data. The scenario-based approach explores rental market conditions under different economic environments: slow growth, no growth and accelerated growth.

Forecast Highlights Recent declines in homeownership related to economic stress and high foreclosures in the singlefamily housing market have benefited the multifamily market.

The homeownership rate will drop 1 to 2 percentage

Copyright MMXII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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TENANT WINS $3 Million continued from page 6 points if the current slow recovery continues.

The single-family rental market, a growing and distinct market from multifamily, has expanded 16 percent (about 3 million units) since 2007.

Multifamily market demand is expected to be strong through 2015 primarily due to demographic trends and a decreasing national homeownership rate.

Rental demand will continue to grow faster than historical averages.

Multifamily demand is likely to be 1.7 million new renter households between now and 2015 (slow growth prediction). If the economic recovery accelerates, demand will be in 1 million new renter range; and if no recovery, then in the 1.6 million range for new renters.

“The research supports the optimism that currently pervades the multifamily market,” explains David Brickman, senior vice president of Freddie Mac Multifamily. “It confirms that multifamily is a bright spot in in the real estate market and the economy more broadly, and it will likely continue to shine for quite some time.”

“The economic data indicates that current rental markets are very strong with low vacancy rates, rising rents and solid demographic trends,” Brickman continues. What this research demonstrates is that these conditions are likely to remain in place for several years to come.”

- Check out more articles like this one at http://kreia.com

Copyright MMXIII Kentuckiana Real Estate Investors Association• PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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Welcome NEW Members!

Welcome

NEW Members!

Dick Vreeland has been in KREIA for 32 years he is one of the more experienced investors that is in KREIA. Dick has spent several years running the lots program for the KREIA. In addition to his efforts as a KREIA board member he has severed on the social committee and the mentors program.

Dick is a licensed broker and a principle broker.

Before becoming a broker he was a realtor for 44 years. Dick has bought nearly 1,000 houses in the last 20 years; he has done a lot of flipping and still manages over 300 rentals. He started investing in 1963. Most of his property is in the South end. He likes the “Brick Ranch” and focuses most of his investment effort in middle income neighborhoods.

Dick has a real estate agency “Century 21” were he and his agents list and sell real estate for other home owners.

Kim Hunter Myles Stevenson Becky Burnett Gordon Jett Scott Stephens Carolyn Fitzgerald John Fielden Jason Middleton

Kevin Anderson Beth Butler Jeff Lewis Richard Keith John Conklin Jerome Hettich Vickie Talley Chris Vasquez

LOTS Program October 2012

In addition to investing Dick has also built many houses. He understands real estate from the consumer angle as well as from the investment angle. He does most of his own appraisals and loves to teach new investors when he has time. Dick has mentored many real estate professionals and nonprofessionals.

Dick has 7 kids and lots of grand children and loves life. - Dan Jones, Kreia’s Reporter in the field

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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.com DISCLAIMER: 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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Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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Government Affairs Update Louisville Metro Government The Ad Hoc Committee on Vacant Properties will hear testimony from the Kentucky Bankers Association regarding foreclosed and vacant properties during the next meeting scheduled for Monday, November 19th at 3:00 pm.

Recently, Councilman Rick Blackwell introduced an ordinance to create the Foreclosed and Vacant Properties Registry.

Rue McFarland 502.897.6060 ruemac@bellsouth.net

LOTS Program October 2012

The measure would require creditors to register with Louisville Metro Government when foreclosing on a home and pay a $75 fee to register.

Further, it would require that creditors determine if the home is vacant and provide a contact person that is responsible for maintaining the property.

The ordinance is aimed at preventing abandoned homes with boarded up windows and overgrown grass.

Representatives of the Greater Louisville Association of Realtors® will follow this matter as it advances (Louisville Metro Government).

Rue McFarland Government Affairs Committee Chair

Happy Hour Selena’s

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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PO Box 17592 Louisville, KY 40217 Return Service Requested

.com

KREIA’s Annual Holiday Meeting Dinner Cruise!

TUESDAY Dec.

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Ed Melton Award Annual Presentation to “Home of the Innocents” + Auctions

LIVE Music!

Lamont Gillespie and 100% Proof Band

Happy Holidays from KREIA

Welcome NEW Members!

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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KREIA Sponsorships New KREIA Sponsorships!

Sign Up Now! www.KREIA.com Here’s Your Opportunity to Get Your Business or Service In Front Of KREIA Members and In Front of THOUSANDS of Real Estate Investors Every Month on KREIA.com!

New KREIA Sponsorships!

New Lower Rates + Monthly Program

KREIA One Time EVENT Sponsorships Are Available Too! You Can Select Any KREIA Event to Sponsorship Get 10 minute Opportunity to Pitch Your Product / Service at event Sign Up Online Now at KREIA Events You Can Sponsor www.KREIA.com Table provided at the event, it's up to you to staff it.

Monthly Meeting Sponsor Only $499 Still Have Questions? Please Call Dennis Erhard 502.639.7496 L.O.T.S. Program Sponsor Only $199 Duffy Ford 502.992.2941 Saturday Seminars Sponsor when Scheduled by KREIA Only $199 Annual Golf Scramble Hole Sponsors $99 Event Golf Scramble MAIN Sponsor $995 PLUS More Individual Event Sponsors for Annual Picnic, Cruises, Social Events, Dances

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KREIA.com Stats

Did You Know?

KREIA.com is the #1 Website on GOOGLE when you search for “Real Estate Investor Associations Kentucky” out of 15.5 million websites?

1,647 Visitors to KREIA.com and they average over 5 minutes on the website!

1,647 Visitors to KREIA.com average viewing over 8 pages per visit!

41.29% of visitors are BRAND NEW Visitors meaning they are NOT Kreia members 13,372 Page views from visitors!

Here’s Your Opportunity to Get Your Business or Service In Front Of KREIA members and THOUSANDS of New Visitors on KREIA.com!

Copyright MMXIII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: 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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Great Gift of KREIA Membership!

Holidays Are HERE! Here is your opportunity to Give An Awesome and Unique Holiday Gift…

WARNING!

… Odds are, you know a fellow investor who probably needs some help…

ACTIVE Members Only!

Now you can be their Hero by purchasing a one year membership to KREIA just for them!

KREIA will send a Special Gift Card and Welcome Package To Your Recipient!

Pitch At Meetings Place Flyers On Table

Earn 100 KREIA Points - Renew Online at KREIA.com Give A Gift of Education and Fellowship!

Membership Application [ ] $119 New Member Application ($99 Dues & $20 Application Fee) [ ] $99 Renew My Annual Dues – I am an active member Name:_________________________________________ Phone: (_________)_____________________ Address: ___________________________________________ City, St, Zip: _____________________________________________________

Join Now!

Email: ____________________________________________ Referred By:____________________________ Please Charge My ___ Visa

___ MC

___ AE

___ Discover

Expires Month_____ / ______ Year

Card Number: ___________________________________________ Name On Card: ______________________________ I authorize Kentuckiana Real Estate Investors Association to charge my card $99 for renewing my dues or $119 for a New Member Application.

Signature: ________________________________ Date:___________________ FYI - KREIA highly recommended you to please renew your dues or apply online at www.KREIA.com to get your 100 KREIA points. You will get paid receipts emailed to you for your business records. KREIA has implemented a more efficient, effective, and streamlined automated online membership program allowing you to update and edit your contact information 24/7and immediate Member Access . All of your KREIA Leaders are volunteers and processing checks, forms, mail, etc, is labor intensive and allows opportunity for unintentional human delay and error. Should you still insist on using paper, you can 1.) FAX to any KREIA Board Member, 2.) EMAIL to any KREIA Board Member, 3.) SNAIL MAIL to KREIA, PO Box 17592, Louisville, KY 40217.

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