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 4-22 April 2022 President’s Letter
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Main Meeting: Eviction Do’s & Don’ts with real estate attorneys Michelle Rawn & John Benz
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Welcome, New Members!
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Mike Butler: Why you should never beat up on real estate agents
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KREIA Election: 2022 schedule 10 Government Affairs Links
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KREIA Photos
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L.O.T.S. Recap: Jim Young & 19 Matt Medley force appreciation in the East End National REIA News Briefs
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Ian Hooper: Requested donations 28 for the Home of the Innocents John Mays: Scared money don’t 32 make money
Dear KREIA Members and Friends, It’s hard to believe but within a few days of you receiving this newsletter, it will be Opening Night at Churchill Downs. The following week culminates with Louisville’s unique and majestic rite of passage into Spring. As the call to the post trumpets throughout Werby, Thurby, Oaks and Derby it is almost shocking to realize that Erik Hitzelberger the coming of the First Saturday in May also means that 1/3rd of the year is behind us.
As investors (and for that matter, as people) time is our most valuable asset. We can squander and lose money or resources yet make enough to recover all that was lost and more. However, even time well spent can never be regained. When I think of time, I am often reminded of a story that Mike Butler, former KREIA President and author of Landlording on Autopilot, likes to tell. Mike recounts a day he dedicated to getting a house painted. It needed to be done and he had the time and ability to knock it out. Plus, doing so would save him $1,000! Mike completed the task and returned home to a message from a motivated seller. Upon returning the call he discovered she had signed a contract with another investor, and the $1,000 he “saved” by painting the house not only cost him the entire day, but also a $20,000 deal. If I remember properly, Mike hasn’t painted a house since. The economic term for this is Opportunity Cost. Every moment we spend doing one thing is a moment we don’t have to do something else. Therefore, we need to make sure the things we do spend time on are more valuable than those we forgo. This is especially true for newer and/or part-time investors who only have a few hours a week to spend in the real estate arena. Continued on Page 10
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.