Member Jerry Fink’s Fix and Hold Purchase Price $52,169 Rehab Costs 24,540 Private Lender Mortgage 55,000 Monthly Cash Flow - 93 WHAT??? Come Learn Why!
October Workshop Junkers To Jewels: Estimation, Evaluation and Offer Making October 2017
October Meeting
Estimating Repairs Quickly and Accurately
Meet Your Community www.CincinnatiREIA.com
CONTENTS
IN THIS ISSUE
03 October Meeting Information 04 President’s Corner 5 October 14 and 15 Workshop 6 Legislation Matters 7 How to Gain Instant Authority, Credibility, Fame And Higher Income In Your Work Or Business 8 Why Lease Options Are Great For Beginners 11 4 Ways To Overhaul Your Outdated Rental Business
FEATURES | September 2017
14
Meet Your Community Felicia Bell
of 16 Calendar Events
15 What You Missed
ADVERTISERS DIRECTORY
4 McSwain Carpets 4 Benjamin Bauer 5 NRL 5 Berkshire Hathaway 6 Dayton Capital Partners 8 YouBuyHouses.com 9 Building Value 9 Renters Warehouse 10 Cleaning Logistics, LLC
10 American Insurnet 10 Cincinnati Home Improvement Company 13 Federle, Realtors 13 Criterium Cincinnati 13 ServiceLink 13 Ellsworth & Associates 15 Pease Warehouse 15 Exit Best Realty
NEW MEMBERS Cheryl Benner Ignacio Villarreal Daniel Pessell Andriy Ivasyutak Joanna Briggs Lou Hogan Nicholas Mastropaolo Cory Riazor
2 | www.CincinnatiREIA.com
Yiwen Stratton Donivan Wells Sheila Benson Cameron Russ Sr Chris Turner Gina Shouse Rene Cheatham Jr
OCTOBER 5 MEETING
7:30 PM Estimate Repair Costs Fast and Right with Mike Jacka
You can’t make smart offers until you can make smart repair cost estimates. And when you know how to do it FAST AND ACCURATELY, you’ll save valuable time, make more offers, and get more deals—not to mention the costly mistakes you’ll avoid! Mike Jacka is a long-time retailer and experienced wholesaler who’s developed a system for repair estimation for his own business that’s so easy that even his non-rehabber assistants can use it, and he’ll share it with us at this meeting. He’ll cover all the basics, including: • Which components of a property are “major” (expensive and potentially difficult to fix), which are “minor” (still in the budget but not likely to kill the budget)
• How to determine the cost of repairs within each category, and for individual items • How to develop the skill of getting this done in the time it usually takes to drink your morning coffee Mike is experienced, real-life, and has a severe allergy to hype, so if you’re looking for real advice from someone who really does this, here it is.
6:00 PM Early Meeting How To E-Myth Your Real Estate Business With Brady Melton (combined for active and new investors) Let’s face it: most real estate entrepreneurs have really highly paid jobs, NOT businesses. As long as you have to be the one to do every task and make every decision, you severely limit your free time, your potential income, and your life-work balance. So how do you change? You start thinking like a
business owner (with systems, checklists, and people to help you run them) instead of a hands-on (wholesaler, retailer, landlord, whatever). Investor and past REIAGC board member Brady Melton will share his ongoing journey toward the goal of having a real business at this 6 p.m. meeting.
MEETING AGENDA
CONTRACT OF THE MONTH:
Property Leads Sheet
5:30 FREE Dinner and Networking
6:00 - 7:00 Early Meeting - How To E-Myth Your Real Estate Business with Brady Melton
7:30 - 9:00 Main Meeting: Estimate Repair Costs Fast and Right with Mike Jacks
Since we will be talking about making smart repair cost estimates fast and accurately you will most certainly want to have a Property Leads Information Sheet to get you started. Mike Jacka has provided his favorite form…it is short but concise and will definitely help fuel the fire. It will sure make lead prospecting less frustrating and more productive.
9:00 “Meeting after the Meeting” at Tokyo Restaurant; all are welcome to attend
The form of the month is a benefit for folks who attend the meeting, so be sure to get there on time!
7:00 - 7:30 Member Deal Case Study
The Investor | 3
PRESIDENT’S CORNER
Fall is here, the summer months are now behind us, and the days are definitely getting shorter. The leaves are changing, the temperatures are cooler, and soon we’ll all “fall back” an hour. It’s a good time to begin thinking about all those repair projects you’ve been putting off but that need to be done, as you’ll want to do them before winter gets here. Really, where has this year gone? Before you know it, we will be in 2018! We have so many great things going on at Cincinnati REIA. Our new Focus Groups are in full swing, bringing us to a total of nine….yes, I did say 9….Focus Groups. Wow! Talk about having a LOT going on! And yes, we still have the Friday Morning Meetup on the 1st Friday of the month. So, we have a total of 10 groups and that’s IN ADDITION TO our two General Member meetings per month, an all-day Saturday session, and the weekly Wednesday Express Success webinars. REIAGC is by far one of THE most active REIA groups in the country! This month we have the return of the highly requested, highly anticipated Property Tour and Deal Analyzing Workshop with Mike Jacka and Jerry Fink. Last year we did a one-day Property Bus Tour, and decided that for this year we would have a full 2-day
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session for this which would include Deal Analyzing. There’s so much information to be shared and knowing what to look for and properly estimating repairs are skills that EVERY real estate investor needs. And they need this in order to be able to properly analyze deals and make offers. You couldn’t ask for better instructors, one of which is our own in-house expert for rehabs – Jerry Fink, who has done a number of rehabs over the years and has been requested to do this bus tour every year. You’ll also get a repair estimate sheet, detailing out all areas for inspection and current typical repair costs. This 2-day event will take place on Saturday October 14 and Sunday October 15. Finally, don’t forget that the largest real estate conference in the country is coming up in November, and once again it’s being held right here in the Cincinnati area. The National New Strategies Summit…. also known as the OREIA Conference…. will take place November 9-12 at the Great Wolf Lodge in Mason, OH. You’ll be hearing a lot more about the OREIA Conference as we get closer, and same as last year, we will be looking for lots of volunteers. To find out all about this year’s convention and to register, visit the OREIA convention website at www.OREIAconvention.com or call 1-888-996-7342 to register. Have a great October! Sincerely,
Anita Anita Johnson
Benjamin A. Bauer, Attorney at Law 10999 Reed Hartman Hwy., Suite 108A (513) 851-7600 ● ben@thebauerfirm.com -
Wills, Trusts, & Probate ● Real Estate ● Evictions LLCs ● Small Business Law ● Civil Litigation -
Licensed in Ohio, Kentucky, & Florida -
www.thebauerfirm.com
Junkers to Jewels: Estimation, Evaluation, and Offer-Making Extravaganza! With Jerry Fink and Mike Jacka
Saturday and Sunday, October 14th and 15th, Clarion North, 3855 Hauck Rd, Cincinnati 45241 There’s a LOT of Profit in Them Thar’ Junkers… And there’s literally no easier, more effective way to learn how than to look at real junker properties with real rehabbers, then spend time with those experts finding out how to evaluate them, negotiate them, and what to do with them to make money. In the most ambitiously-complete training on junker properties we’ve offered, we’re bringing you two experienced investors for TWO days to nail down your ability to make money in Mike Jacka ugly properties. You’ll: • • •
Tour real houses and learn to really valuate the condition and costs of repair How to use your estimates to negotiate with sellers and bring them around to your way of thinking How to determine exit strategies and use THAT information to construct multiple offers and just let the seller determine which one he likes.
Think about what just ONE new idea will earn you on your next rehab, turnover, or even Jerry Fink wholesale deal—and then ask yourself when you’ve EVER gotten the chance to get his hands -on with this many experts for this little money. And when you've come up with the answers "Lots, and Never", REGISTER, because this is a unique chance to get the inside scoop on all the challenges and opportunities in junkers today Due to the limitations on the size of the bus (and, let's face it, how many people we can effectively lead through a property), this event is STRICTLY LIMITED to just 50.
Pre-Registered Members Only $197 for 1, $297 for 2 Non-Members $247 for 1, $347 for 2 [ ]YES! I want to do more creative deals! Sign me up now, before seats run out!! Name: _____________________________________________________
Register by October 10th and get
Mailing Address: _____________________________________________ City: ____________________________ St: ______ Zip: ___________ Phone: __________________________ Email: ____________________ 2nd Attendee: _______________________________________________ Mailing Address: _____________________________________________
LUNCH FREE!!!
City: ____________________________ St: ______ Zip: ___________ Phone: __________________________ Email: ____________________ [ ]I am a member, I pay just $197 for 1 or $297 for 2 [ ]I am a non-member, I pay just $147 for 1 or $347 for 2 Method of Payment: [ ] Check #_____ (Made out to REIAGC) [ ] Credit Card #______________________________ Exp. date ____/____ CID #____________________ Signature:_____________________________________________________
Our 100% Satisfaction Guarantee— You’ll Agree that this Workshop was Worth 2x the Cost, or Your Money Back!
To Register, Call (513) 407-3137, Fax this form to: 513-297-0997 Or Mail to: COREE * 3707 Warsaw Ave. * Cincinnati, Ohio * 45205 Or Register at: CentralOhioREI A. co m
Just 50 can attend! Register NOW!
LEGISLATION MATTERS
This Bill Would Wipe Out Land Contracts in Ohio… If you have any question about whether your elected officials understand or care about housing, a proposed bill in Ohio should give you the answer: a resounding NO. Most real estate entrepreneurs are aware that Land Contracts (also called Land Installment Contracts or Contracts for Deed) are a form of financing, typically used between a buyer and seller of a property rather than by institutions, that allow buyers to secure the rights of ownership to a property while making installment payments. Land contracts are different than mortgages in that the seller retains the legal title to the property until the buyer makes the final payment. Under current Ohio law, this allows the seller to repossess the property more easily than in a foreclosure for the first 5 years of the Land Contract or until the buyer has paid off 20% of the initial balance. For this reason, they’re often used to give buyers with less-than-steller credit, or iffy payment histories, or marginal employment situations, a chance to purchase a home or rental property. They’re also a very common way of conveying properties to buyers when the property itself would be unlikely to qualify or traditional financing; for instance, homes with a value under $50,000, properties needing work, and the like. This proposed bill would amend the Ohio Revised Code to make it law that: 1. Payment of property taxes and hazard insurance, typically the responsibility of a buyer of ANY property, would become the responsibility of the seller 2. Repairs and maintenance would be the seller’s responsibility AND the seller would have to obtain a certificate of compliance from and inspector PRIOR to selling the property on land contract (and then maintain throughout the LC) 3. No property could be sold on land contract if it had an underlying mortgage on it 4. The maximum interest rate on a land contract would be 2% more than the T Bill rate for loans of the same maturity as the contract. For a 10year land contract today, that would be 4.2% interest—about the same as a highly-qualified conventional borrower with 10% down gets. 5. Damages for violations can include: attorney fees and costs, return of all moneys paid under LC, 2% of face value of LC, equity in the house, specific performance or injunction
6 | www.CincinnatiREIA.com
In other words, it removes practically every advantage of selling a property on land contract; it’s hard to imagine who would choose to take a chance on a lower-income buyer of a cheap house under these circumstances. Should this bill pass, it won’t be the investors who are hurt, of course: we have multiple strategies for selling properties that don’t involve land contracts. It would hurt the potential buyers of these properties, ESPECIALLY the large percentage of blue-collar buyers who are able to get houses at discounts AND with low down payments and monthly payments because of their ability to assure the seller that they can and will do the work the property needs. Of course, the Ohio Real Estate Investors Association has sprung into action to educate the lawmakers who support this bill. In fact, without OREIA, it’s unlikely we’d even know of its existence until it came out of committee and was ready for a full house vote. So if you’re looking for yet another reason to attend the 2017 OREIA Real Estate Investing Summit, here it is: every dime of OREIA’s profits from that event go back into protecting your business and, tangentially, that of every investor in the country. This is one of dozens of examples of bad laws proposed each and every year that YOU never have to deal with, because OREIA does it for you. We’ll see you at OREIAConvention.com on November 9-12, right?
NRL Lisa Chambers
(513) 607-4107 lisa.chambers@nrlmortgage.com
HOW TO GAIN INSTANT AUTHORITY, CREDIBILITY, FAME AND HIGHER INCOME IN YOUR WORK OR BUSINESS By Raymond Aaron
In a real estate market where competition from a zillion faceless “other investors” has become a real issue, many of us are looking to set ourselves apart. That’s why OREIA is bringing New York Times Bestselling Author AND REAL ESTATE INVESTOR Raymond Aaron to keynote the 2107 Summit on his favorite topic: how to brand yourself and get instant credibility. Not registered yet? See the enclosed flyer, or just go to www.OREIAConvention.com. The concept of “branding” is an elusive topic. Few small business people know the true definition. More important, even fewer know how to properly leverage their personal brand for greater results in business and life. Your brand is more than a logo. It’s who you are, your reputation in the market, how you are perceived. Your personal brand stands for something. It’s a positive, negative, or neutral feeling in your prospects or colleagues’ minds. A properly designed and delivered brand opens the doors to greater opportunities, earning a higher income, doing more deals, or positioning you as an expert in your field. We all have a brand whether we know it or not. In fact, not having a brand, IS a brand. Think, how are you being seen in the market. Are you being intentional with your brand, or is it a byproduct of how others perceive you? Here are 3 specific advance personal branding strategies you can employ starting today to grow your business. 1. Getting Your Brand Known. You are in control of your brand. Give it a name, a look, a feel. Start with your reputation. Then make your colleagues, business
associates, clients, customers, employers know your brand. In today’s market, social media plays a big role. Are you being conscious of your presence in social media – remember, your market is watching. 2. What you say DOESN’T count. It’s what your market says about you that counts. The roles today are reversed, and it’s so easy for your reputation to spread. The world today is much more skeptical and it is up to you to maintain a strong reliable position in the market. 3. Make Your Brand Shine. Become the leader in your field, even if you don’t feel like one. You can prove to your sellers and lenders that you’re better than your competition without actually being better. In today’s world, perception is everything. Consider: Writing a book that showcases your expertise, make videos to share your insights, or use social media to become known to the marketplace for the person and personal brand you want and deserve to be. The most startling thing to realize is people do business with your brand and chose to work with you from perception above all else. With a powerful personal brand your own reputation sells itself. The first step is making the decision of who you want to be in your market. Join me on November 11th at the giant OREIA Real Estate Summit, and I’ll show you how to enjoy increased visibility, increased credibility, and increased wealth. Imagine yourself as a superstar in your field with new opportunities, clients, customers, and sales coming to you!
The Investor | 7
WHY LEASE OPTIONS ARE GREAT FOR BEGINNERS By Jim Aydelotte
With increased confidence in the housing market (but still-limited financing available), lease/options and land contracts have come roaring back as and easy and profitable way to buy and sell properties. Jim Aydelotte is an expert in the latter, having completed deals on over $5 million in properties since retiring from his ‘real job’ in 2006. Best of all, he’s a full-time pastor and only works his lease/option business 3-5 hours a week. He’s another featured speaker at the 2017 OREIA Summit, so get there and learn more about his strategy! Sometimes I would love to go back in time, just to get a chance to do a few things differently than what I actually did…or didn’t do - of course, hind sight is 20/20 right?
That hindsight, and all the things I did BEFORE I discovered lease/options that I wish I’d just skipped, is why I now stress to everyone who wants to start making money in real estate to consider lease/options FIRST. Please understand that this is not a suggestion based on selfish motives, it is based purely on experience. And the reason why I believe, and am convicted of the fact, that lease option strategies are the absolute best strategies in all of real estate investing for every beginning and seasoned investor to get involved with, is because it takes no capital, very little time, and minimal training, to start getting paid quickly in real estate investing. If you were to purchase an average rental property, in a typical neighborhood (let’s say for example a 3 bed, 1.5 bath home rents for $1,200, with a cost of $80,000), and assuming you did not use a private lender (most beginning real estate students do not have those) the monthly payment with a bank using your own credit on a typical commercial loan will cost you about $575/
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Let’s face it, finding great deals to rent, lease/option, or retail is practically a full-time job for the active investor. At YouBuyHouses.com, we do the hard part for you! We find the deals, negotiate a rock-bottom price, sign the purchase contract, order the title work, set up the closing, and then pass the deal along to you to make the REAL profit. If you’re a serious, cash buyer who’s sick of dealing with wholesalers who misrepresent their deals, you’ll love our honesty, 40+ years of combined experience, and attention to every detail of your detail of your deal. Ask one of our DOZENS of satisfied customers, then go to YouBuyHouses.com to see available properties and join our buyer’s list.
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8 | www.CincinnatiREIA.com
month, plus, let’s say, $200/month for taxes and insurance is a total payout of $775/month. Now, that payment has to begin whether you have a tenant lined up or not! But for sake of our example, let’s just say that everything goes as perfectly as possible, and you have a tenant lined up right away. What’s your cash flow in this example? Rent at $1,200/mo - $800/mo in expenses = $400/ month profit (again, nothing breaks or requires repairs at all in this example). That is an annual profit of $4,800 the first 12 months you have a tenant. Ok, you get the picture - $4,800 in the first 12 months in profit in our example. Let me give you another example. Let’s learn how to locate, talk to, and put a property under contract to control a property. Now, finding a seller who is motivated is one thing, but finding a seller who is motivated and getting them full retail price for their property is another! This is the strategy we employ called a ‘Cooperative Lease Option’.
Putting a property under contract for full asking price, with no additional fees to the seller, while placing a tenant/buyer in the property will yield a typical payday of $5,000-$10,000 in the form of an option fee in a very short period of time. I have a student who had no background in sales, marketing, or real-estate for that matter, and when he followed the steps I gave him, was paid $6,000 from the day he found and talked to the seller, and 20 days later when the tenant/buyer was placed in the property – and this was starting from scratch with no experience – 20 days for a $6k payday! But let’s say you need more time to learn these strategies, and to find a property with a seller who is willing to sell their property on contract…and it took you 90 days. That’s still more profit, in a quarter of the time as the previous example, on a home you didn’t take title to, or use any money or credit to purchase, and did not have to take time to do any rehab on it. This is a strategy that anyone can utilize, and the profits can be so much better, with such little risk, and far less time than the type of real estate deal that most people are familiar with. Now you can see exactly why I believe lease options are the absolute best model that anyone can utilize, especially those who do not have the resources necessary to do a ‘traditional’ type of real estate model. I look forward to helping you get started and succeed at the OREIA Summit. I’ll share more about how these deals work and why you should have them in your real estate strategies toolbag there.
Renters Warehouse The Professional Landlords
Building Value LLC 4040 Spring Grove Ave. Cincinnati, OH 45223 (513) 475-6783 www.buildingvalue-cincy.org
Scott Adams ScottAdams@RentersWarehouse.com 513-334-4010 www.RentersWarehouse.com
The Investor | 9
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10 | www.CincinnatiREIA.com
4 WAYS TO OVERHAUL YOUR OUTDATED RENTAL BUSINESS By Al Williamson
Al Williamson is a Sacremento Landlord who began converting some of his rental units to shortterm corporate rentals for AirBnB a few years back, and now gets 3x the rent with less hassle than when he was renting them to market tenants. Catch his “How to Turn Your Rentals in AirBnBs” talk at the OREIA Real Estate Summit November 9-12 by registering NOW at OREIAConvention.com Yes, your Betamax cassette player still works! It was such a revolutionary product in 1979. Even today, your Betamax player can still record and play videos. But why bother with it? New technology has long since replaced it, and it’s better and faster all around. Your landlord business model might be working fine as well. Buying smart and charging little more than your expenses still makes sense. However, the model of yesterday pales in comparison to what you can do today. Are you overdue for an upgrade?
Here are four ways to bring your landlord business model into the digital age. 1. Serve a Niche, Not Craigslist Old thinking says that Landlords should strive to net $100-$150/mo per unit. You can easily double or triple this objective by positioning your rental towards serving a niche market. Niche communities benefit from living next to or with each other. Niching up allows you to rent rooms to professionals and international students or venture into the lucrative corporate housing space. You can easily net an additional 30% by creating a housing solution for a specific group and growing your reputation as the best option in town. Customize your color scheme, furnishings, design choices, lease terms, pet policy, air filtration and accessibility to solve their problems. You’ll have fewer vacancies and more demand — a better approach to landlording. 2. Tap Ancillary Income Opportunities Old-thinking landlords never think to tap the endowments within their rentals. They focus too much on acquiring more rentals and not enough on optimizing what they have. Buying more rentals only guarantees you’ll have more expenses. There is a less risky way to net an extra $100 per month. You can easily net 30% more by opening your eyes to the profit centers that surround you. Your existing rental may be perfectly suited to: • Broadcast or repeat a signal. Cell phone repeaters, wifi antennas, live cam feeds — there may be rooftop lease opportunities especially for you. The elevation of your rental’s rooftop and the views from that vantage point are assets. • Display political or non-profit banners. Check your rental’s fence lines; they are great places to hang banners. You may have the ability to hang advertisements outside of your tenants’ view but within the view of a busy highway. Deploy this underutilized space to increase your bottom line via “in-kind” tax deductions (continued on page 12) The Investor | 11
(continued from page 11)
or advertisement revenue. • Distribute U-Haul trucks. Your zoning and lot configuration may be perfect for a small, part-time U-Haul dealership. You can set one up for FREE. Just contact U-Haul for details. 3. Exercise Your Civic Leadership The Betamax Generation Landlords dismiss the neighborhoods surrounding their rentals. They classify civic leadership as a “charitable” activity best left to nonprofits and someone else. If you only serve a luxury market, then your civic leadership, from a landlord’s role, is not needed. However, if you’re a mid to lower end landlord and you’re dismissing civic leadership, then you’re squandering your income and equity-potential. Trading something of value (a little of your time) for something of much greater value (improved safety, visual impact, orderliness) is a fundamental investment principle. Why do so few landlords understand this? Organize a local email directory of property owners and landlords, “inspire” someone to keep your block litter-free, or sponsor an annual block party. These super simple things will lift the lid on your rents. Long-distance landlords, you have an opportunity here as well. If you can’t physically exert yourself, then financially support a local leader and/or organization that makes good things happen on your block. If you want a bigger harvest, add nutrients. 4. Experiment With One Unit Betamax-ing multifamily landlords operate each unit in the exact same way. It never occurs to them that they can mix and match. You don’t need to ask permission. Consider furnishing one unit and experimenting with Airbnb, vacation rentals or short stay housing. How about a boutique unit with high-end furnishings and some razzle-dazzle? Would that spike your income? Experiment with using RelayRides.com to rent a car to your short stay renters. Or use SpinLister.com to rent bicycles to them. You can create a unique experience that the big corporations can’t match. That’s a lucrative 12 | www.CincinnatiREIA.com
REIA Membership Comes with… A FREE WEBSITE!
Every real estate investor needs a website for their business. Why? Because tenants, sellers, buyers, and even money people go to the web to see if you’re real, and if not...they don’t do business with you. If you haven’t set up your FREE website (which also distributes your rentals and properties for sale to all REIA members, when you upload them), get it now by logging in to CincinnatiREIA.com When you’re logged in as a member, you’ll be led through the very simple process of setting up your site. Just one more benefit of being a REIA member! position to occupy. Be adventurous! You might find a sweet spot for your market that is 10x more profitable than your current way of operating. Parting Thoughts Come on, real estate family — it’s not 1979 anymore! Put away your L-830 video cassette tapes. You’ve got more (and less risky) options than just acquiring more rentals to grow your net. That Betamax way of thinking derails you from discovering the profitable potential of your current rental holdings. You as a manager of cash flow streams have the ability to create endless amounts of value — some of which can be converted into cash flow. But in order to venture out, you have to be brave and willing to leave your comfort zone. Niche up, tap your endowment, engage your community and explore furnished housing. I guarantee if you use one or all of these tactics, your rental will be 30% more profitable.
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Ellsworth & Associates 513-272-8400 9624 Cincinnati Columbus Road Suite 209 West Chester, OH 45241
MEET YOUR COMMUNITY: FELICIA BELL In real estate since: 2016
Last Real Job: Senior purchasing manager at P&G REIA member since: 2016 Ask her about: Buying or selling a home, working with contractors, rehabbing Meet her at: Most regular meetings, the Women in Real Estate (WIRE) focus group, which she co-leads, the Creative Finance Focus group How did you get started? I had left P&G, and was committed to doing a lot of networking and educational seminars. I knew that I didn’t want to just do something to pay the bills; I wanted to do something that I was passionate about. It wasn’t an intentional decision to do real estate at that time, but real estate is something I’ve always been interested in. I got an email inviting me to a real estate seminar and decided right there that I wanted to be an investor. I connected with a mentor who’d been in the business for over 10 years. He encouraged me to get my real estate license, which I did in May of 2016. I bought my first property in June and my second in July. I now have 5 projects and I’ve used a number of strategies: flipping, buy and hold, I bought a property subject to. Ultimately, I’d like to add wholesaling and notes to the mix. What’s your favorite type of deal right now? Rehabbing. I really enjoy the process of making houses pretty. I understand that rehabbing doesn’t actually MAKE money in itself, but I really do enjoy the process. If you could give your younger self advice, what would it be? Save more money, because more mon14 | www.CincinnatiREIA.com
ey creates more opportunities. With money in the bank, you approach everything from a more relaxed perspective. Everything is less stressful when you have cash to fall back on. Also, I’d tell her to surround herself with dreamers who have big goals and big plans for their lives, because their attitudes rub off on you. Finally, I’d say “trust yourself to take calculated risks”. What do you love about real estate? The opportunity to provide housing is something that really inspires me. Right now, it’s rentals and acting as an agent for homebuyers, but later I’d like to carry back financing for people who want to become homeowners. The world really doesn’t go around without real estate; it will always be there, and I feel like I’m touching and improving more lives with what I’m doing now than I was when I was working for a big company. What piece of advice would you give other REIA members? Just do it. People sit back and spend a lot of time deciding whether or not to jump in, when really the best way to learn is by doing. A lot of people, including me, learn by doing. The formal classroom education is important, but until you get out and start trying to make some deals, you don’t even know what questions to ask. There’s a balance to be struck, but I think most people wait far too long before they just go out and start making offers.
Max J. Arroyo, Jr. Vice President Investment Property Asset Manager Berkshire Hathaway Profesional Realty
Commercial Services First Circle Property Management
7311 Tyler’s Corner Place First Circle Property Management
West Chester, OH 45069 Direct: 513-772-5736 Leasing and Service: 1-888-288-5912 E-Mail: Marroyo@bhhspro.com www.firstcirclepm.com A member of the franchise system of BHH Afiliates, LLC
WHAT YOU MISSED
Vena Jones-Cox and Mike Jacka heading out to look for deals
Our very own Mr. Drew negotiating the sale
How deals get done‌Christina Carrey, Ben Bauer and Darren Carrey
The Regoddess capturing the attention of the entire room
Volunteers Linda Hull and Narendra Mundhe get the job done!
Janet Thole and Jim Thole enjoying the Main Meeting
Sign in dream team‌ Cheryl Long and Ropa Chambati
Knowledge transfer in the REIA community.
Tom Terlau, Donald O Neill and Carol Innskeep enjoying an early meeting.
The Investor | 15
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U.S.POSTAGE PAID
CINCINNATI, OH PERMIT NO. 777
10945 Reed Hartman Hwy, Suite 113 Cincinnati, OH 45242
Cincinnati REIA 3707 Warsaw Avenue Cincinnati, OH 45205
SUNDAY
1
2
8
9
MONDAY
REHABBER’S FOCUS GROUP 6:30 PM
TUESDAY
WEDNESDAY
THURSDAY
4
5
10
11 PASSIVE
12
13
14 PROPERTY
19
20
21
27
28
INVESTORS LUNCH FOCUS GROUP 11:30 AM
WHOLESALING FOCUS GROUP 6:30 PM
MAIN MEETING: ESTMATE REPAIR COSTS FAST AND ES WEBINAR: GET- RIGHT AND HOW TING MONEY FROM TO E-MYTH YOUR PRIVATE LENDERS REAL ESTATE BUSINESS, 5:30 PM 8:00 PM INVESTING FOCUS GROUP, 6:30 PM ES WEBINAR: USING CASH AND CREDIT PARTNERS 8:00 PM
15 PROPERTY 16
17
18
22
23
24
25 ES WEBINAR: 26 NOTHING
29
30
31
TOUR AND ADVANCED ESTIMATING, 9:00 AM
LANDLORDING FOCUS GROUP 6:30 PM
NORTHERN CREATIVE FINANCE KENTUCKY FOCUS FOCUS GROUP GROUP 6:30 PM 6:30 PM
FRIDAY MORNING MEETUP 9:00 AM
ES WEBINAR: ALTERNATIVE SOURCES OF MONEY 8:00 PM WORKING WITH AGENTS 8:00 PM
MAIN MEETING 5:30 PM
BUT NOTES FOCUS GROUP 6:30 PM
october
7
SATURDAY
3
W.I.R.E. WOMEN IN REAL ESTATE FOCUS GROUP 6:30 PM
6
FRIDAY
TOUR AND ADVANCED ESTIMATING, 9:00 AM
For more information and locations, visit www.CincinnatiREIA.com