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 Vol 09-20 September 2020 President’s Letter
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Paid Advertising Rates
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Buying at Auctions: What you 3 need to know before making a bid Welcome, New Members!
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Monthly Newsletter for KREIA Members Dear KREIA Members and Friends, We hear a lot of discussion about the current and increasing Wealth Gap in the U.S. The discussion centers on the growing disparity of wealth and the increasing divide between the haves and have-nots. The American middle class is currently stable in size but shrinking and is losing ground financially to upper-income families, and the number of people living in poverty is increasing.
Chris McCarty
Can our nation continue to survive and prosper with such disparity? Mike Butler: How ’bout some good news for a change?
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Michelle Rawn: Courts update
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Help the Children: Raise money 10 for HOTI at your next closing Government Affairs Links
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National REIA News Roundup
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Remembering Hank: Friends pay tribute
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KREIA Photos
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It should be no secret to anyone reading this that a large percentage of Americans are badly under-prepared for basic needs or financial independence now or at retirement, when they may no longer be able to work but will have another twenty-plus years to live. The average U.S. monthly Social Security benefit is $1,400, and a great percentage of our seniors do not have much more than Social Security to depend on. Compare this to the average rental cost per month in the U.S. for housing at $1,231.
An easy conclusion is that the income from four or five paid-off rental houses far exceeds the average Social Security benefit.
Relief for Landlords: New $15 34 million fund helps tenants pay rent
Calendar of Events
The fear from many is that this disparity continues until the voters undo the America we know and change or try to equalize these differences with taxing and confiscatory policies aimed at the redistribution of wealth. If you do not believe this is happening already, listen to the politicians on all sides as they are on full display vying for the votes to implement these changes.
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People don’t plan to fail; they fail to plan as life and circumstance get in the way. The years click by until it is too late to make a dent in behavioral change, and we know the rest of the story. The U.S. has plenty of schools and universities teaching many subjects but often not much about the specifics of growing and building wealth. Continued on Page 4
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.