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 10-21 October 2021 President’s Letter
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Protect Your ASSets: Panel shows us how to keep our investments safe
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Welcome, New Members!
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Beginning Investors Workshop
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Mike Butler: Yes or No – would you borrow $1MM at 3% fixed for 30 years?
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Sharon Vornholt: Create 10 absentee owner letters that get a great response Jay Bowman: 10 things to know 16 about owning Airbnbs KREIA Photos
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L.O.T.S. Recap: Jacob Michal 19 profits on a ‘paint-and-carpet’ fixer Nina Musgrave: Foreclosures increase as moratorium is lifted
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National REIA News Briefs
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Government Affairs Links
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Calendar of Events
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Dear KREIA Members and Friends, October is one of the greatest months of the year for sports fans. The baseball playoffs are in full swing, college and professional football have kicked off, and basketball games are set to tip. In The Infinite Game, author Simon Sinek reminds us that all of these are Finite Games. We know who the opponents are, we know the rules, and we know how winners and Erik Hitzelberger losers are determined at the end of the game. Amongst other things, real estate investing is not a finite game. It is an infinite game. An infinite game is one in which 1) the rules evolve over time, 2) opponents can be known and unknown, 3) there is no time limit or end, and 4) the object is not to win but rather to stay in the game. The only real way to lose an infinite game is to lose the will to play and drop out. Consider a relationship. No one suddenly wins Best Spouse, Ultimate Parent, Greatest Partner or Friend of the Year. We decide every day who matters in our life and work to maintain and grow those connections. Real estate investing works in the same manner. We set goals and spend each day working toward them. Our success is largely a function of our ability to take consistent actions and our resolve not to give up when things become difficult. We measure ourselves not against our competitors but against our own metrics. With that in mind, October is also a critical month for investors. The start of the fourth quarter should be a period where we strive to finish the year strong so that we can meet or exceed our goals. Being able to see those results at the end of the year and know you did your best is critical to maintaining the mindset required to continue in the game. October is also the time when we should start to set goals for 2022. January is too late. We need to start preparing now. As we begin to acquire investments and have wins, our new goals should not only be focused on growth, but also on protecting what we have already accomplished. This month, KREIA is very pleased to present a panel of experts who will show you how to do just that. Jenny Fields, Eric Shadowens and Greg Nalley will cover best practices for avoiding legal, tax and insurance setbacks. Each of these areas presents a risk to your business and to your will to compete. Show up, take notes and implement the Continued on Page 4
Copyright MMXXI 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.