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 1-22 January 2022 President’s Letter
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Be the CEO of Your Real Estate 3 Business: Heidi Fore coaches us on goal-setting and business planning. Plus, workshop at Wildwood! Welcome, New Members!
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Mike Butler: Are you really ready 6 for changes and new trends in the real estate market? L.O.T.S. Year in Review: 2021’s 10 hosts reflect on their experiences
Hampton Scurlock: KREIA 16 Retreat is back Feb. 25th & 26th! Ed Melton Award: 2021's recip- 18 ient is announced KREIA Photos: Holiday Edition 20 John Jones: KREIA teams up with REIA Mastermind Group
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Vena Jones-Cox: Jan. 29th deal 24 analysis workshop on Zoom National REIA News Briefs
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2022 KREIA Directory: Help us finish it
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Dear KREIA Members and Friends, Happy New Year!!! I hope everyone had a wonderful holiday season with family and friends and is ready to make 2022 the best year yet. The simplest way to achieve this is to 1) know and believe that abundanceminded people like you need to be successful and 2) relentlessly focus on doing deals. Erik Hitzelberger I could write extensively on the first point (and I may in the future because I apparently have to keep writing these things), but I want to cover the second today. So, I’ll leave it at this. Money is a tool that magnifies your impact on the world. If you desire to leave a positive impact, you owe it to yourself and the rest of us to accumulate enough money to be as significant as possible. Stop making excuses and get it done! The second point comes down to understanding what is and what is not a deal. Too many people prevent themselves from achieving their goals because they confuse themselves on this point. Even experienced investors occasionally get hung up. A deal is an investment that helps you meet your investing goals The corollary to this is that anything that delays or prevents you achieving your goals is not a deal. One of your goals may be to spend a month in Italy. You may further decide that you want to learn a little of the language before you go. If you purchase the Chinese language Rosetta Stone package because it is half the cost of the Italian version, you did not get a deal. Similarly, imagine you work a 40- to 50-hour work week and spend 10 hours a week on your dream of being a financially-free real estate investor. Further imagine that you receive a job offer for $20,000 more per year, but you know the time commitment will be in the 60- to 70-hour per week range and you will have to travel. Taking the job has the same outcome as buying the course on learning Chinese. You prevent yourself from achieving your goal. Deals are created when the Price (what you pay) is less than the Value (what you get). The most common mistake new or struggling investors make is not properly assessing value. This is often because we forget what we are buying. Buy-and-Hold investors do not buy houses. We buy income streams and appreciating assets. Both are measured over time. If you have ever said anything close to “I can’t pay $150,000 for a house that’s Continued on Page 4
Ian Hooper: Products to donate 28 to Home of the Innocents this time Government Affairs Links
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Calendar of Events
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Copyright MMXXII 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.