Providing Education, Resources & Networking Since 1978 Kentucky’s premier investment club for landlords, rehabbers and wholesalers Meeting the 4th Thursday of every month (except November & December) KREIA.COM • facebook.com/groups/kreiaky • twitter.com/reiaky
Monthly Newsletter for KREIA Members
Vol 09-19 September 2019
L.O.T.S. Recap: Luke & Christina 17 Neubauer rehab J-town house as a flip or a rental
KREIA Members, This may be a big and bold statement, but I challenge anyone to provide the argument that these words are not 100 % true! “KREIA membership can provide a blueprint to participate in the greatest side hustle ever invented or imagined for the part-time generation of substantial wealth by the average person.” The KREIA organization provides educational programs and opportunities, access to real estate member experience and a pathway to participating in the greatest source of wealth in the world. Short of winning the lottery or making a large and early buy-and-hold position on Amazon, Google Chris McCarty or Microsoft, there is no part-time endeavor that comes even close to owning real estate long-term as a passive investment. What other investment is there where someone else pays your investment debt, as tenants do, by amortizing your mortgage slowly over time, all while giving you tax advantages as your investment likely increases in value? Not everyone can just quit their day job and become a fulltime investor, but part-time real estate investing allows great flexibility with each investor choosing their own level of side hustle involvement. It is commonplace for real estate investors to structure deals with little or no cash out of pocket and over time end up with huge returns and often in the millions of dollars. You choose if you prefer to be hands-on, saving expenses with your own sweat equity and perhaps even involving your family in the effort, or be completely hands-off on any physical involvement and manage the decisions and money that goes in and out of your business passively. With any approach you choose, proper diligence and providing a good product to your occupant are key. Way too often I have witnessed bad landlords attracting bad tenants, and too many bad tenants causing an eventual early, unsuccessful exit from the greatest side hustle ever! The greatest detractor to the greatest side hustle therefore is excessive turnovers and vacancies directly related to negligent landlords foregoing proper maintenance and professional behavior, which are the time-tested enemies of profit in property ownership. Many times in my years of KREIA involvement and witnessing my friends and fellow members, I have seen the successful, well-thought-out Side Hustle become the Main Hustle as real estate wealth surpasses the income provided by the J-O-B and the real estate investments have achieved the means to the end of a well-thought-out financial plan. Take action! The first step is often the most difficult. KREIA can help you! See you at the meeting!
Member Spotlight: Paul Cobb
24
Chris McCarty KREIA President
Got a Business? Upgrade your membership!
24
Government Affairs Roundup
28
Calendar of Events
32
President’s Letter
1
Paid Advertising Rates
2
Single-Family vs. Multifamily: Investor panel weighs in
3
Welcome, New Members!
4
KREIA Member Directory: Verify 4 your contact information Opt In: How to be included in the KREIA Yellow Pages
4
Mike Butler: Price does NOT always equal killer deals
6
Chris Judd & Pam Merritt: The 8 3 L’s of Property Lead Generation National REIA News Roundup
12
KREIA Photos
16
Copyright MMXIX Kentuckiana Real Estate Investors Association • P.O. Box 91225 • Louisville, KY• 40291 (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.