Tuesday, October 17, 2017

Stories and Advice from a Roanoke Landlord Icon

Hello Everyone,

We’ve got a great meeting lined up for this week! I’m pleased to announce that we will have our good friend Dick Dearing as our special guest speaker.  

Dick has been in the landlording business from what I understand back in the 1970’s and has a significant amount of valuable experience under his belt. He’s been involved in many forms of landlording including residential, commercial, warehousing, etc. I always learn something talking to him as he is full of good solid advice most often through fascinating stories he has accumulated through his time in the industry. 

It’s going to be a fantastic meeting so if you have other plans… change them.

We’ll see you there!

Monday, October 9, 2017

Analysis of Wholesale Deals This Week At Real Estate Investors of Virginia

Hello Everyone,

This week our guest speaker will be our friend and member, Frank Erhartic. Frank is going to lead a discussion on wholesale deals. We will do an analysis on these types of properties that you get from wholesalers to determine if it’s a good or bad deal. This meeting will also help new wholesalers determine what their sales price should be. 

We’re going to break it down in at least 2 categories. 

1. A rental could make a great rental at the right price but a terrible flip as it may not be in the right neighborhood. 

2. A flip that was intended to be a flip that didn’t sell and was turned into a rental as a plan B could be a very bad deal and not cash flow. Which is why we have different buying formulas depending on if you are using the property as a flip or a rental. 

Come on out... It will be an interesting meeting to learn the groups different perspectives on the topic. 

A primer on this topic is here: Don’t be a sucker and pay too much. That’s to both you investors and wholesalers. Wholesalers, if you are getting rich off some fool paying you too much for every deal, their empire will eventually collapse due to being over leveraged and you will have to continually find new buyers. Not a good way to do business by driving someone financially into the ground. You’re best off being on the up and up and treating your buyers well by using your negotiation tactics to get the right price so everyone can make a little money. 

We’ll see you there!

Tuesday, October 3, 2017

Melvin Hill For Commonwealth Attorney, This Week at Real Estate Investors of Virginia.

Hello Everyone,

Our special guest speaker this week will be attorney Melvin Hill who is running as the Democrat candidate for Roanoke Cities Commonwealth Attorney. Melvin will be up against Independent incumbent Donald Caldwell. 

We also will likely have a moderated group discussion about various topics pertaining to real estate. 

Come on out and spend some time with educated like minded people just like you! We’ll see you there...

Tuesday, September 26, 2017

New Roanoke City Manager, Bob Cowell, Speaks at REI of Virginia This Week

Hi Everyone,

We have a fantastic meeting lined up this week with the new city manager of Roanoke City, Bob Cowell. 

Our former city manager Chris Morrill resigned “for another job” right after creating a 4 million dollar budget shortfall for next year and adding several million in additional spending for the city during his short time as City Manager.  His solution to pay for deep pocket spending was to add several new taxes to the citizens such as a rain tax, garbage tax, higher collections of fines and fees, etc. These are all things he did when he was the Assistant City Manager for Savanna Georgia. 

Our new city manager is known, in the City of Amarillo Texas, as the City Manager who was involved in many of the cities most expensive projects.  From development for the city of Amarillo to a downtown facelift. From development of their transportation infrastructure to it’s water and waste water operations. These are some of the projects that Mr. Cowell has spearheaded. 

It will be great to talk with the new City Manager about what he has in store for Roanoke. What plans he will be implementing for our housing stock. To increase property values across the city. What types of things he will do to fight blight and if he is interested in working with REI of Virginia to develop working solutions to do so. Former City Manager, Chris Morrill, made it clear, that he will never hold tenants accountable for their own actions, even though the city code says they have the right to do so. His response to that was he should take that statement in the Code out. 

Residential Landlords in Roanoke City own 63% of all of the property. Many neighborhoods numbers are over 85%. Due to this, any workable plan must have involvement from our organization. 

It’s going to be a fun meeting. See you there!

Monday, September 11, 2017

High Return Investment Opportunity In Renewable Energy This Week

 ****Meeting below rescheduled to this week due to flight cancellations last week.

Hello Everyone,

This week we will have our friend, Private Wealth Manager Andy Ingram, with one of the company founders from Greenbacker Renewable Energy flying out to meet with us.  

These days it’s been tougher to find attractive cap rates in real estate. This renewable energy asset added to your portfolio averages an outstanding 12.5 - 14% return and sends you dividends every month. 

Buy 2030 it’s estimated that 70% of new power generation will come from renewable sources. Greenbacker buys power plants that obtain their energy from things like wind, sun, dams, geothermal, etc. 

More information about Greenbacker Renewable Energy Company:L

Bio of our speaker flying in to meet with us:

David Sher – Director, Greenbacker Renewable Energy Company
Mr. Sher has been a board member since our inception in December 2012. He has served as Chief Executive Officer and a Senior Managing Director of GCM and Greenbacker Group LLC since August 2012 (having previously served as a Managing Director of Greenbacker Group LLC since February 2011), as well as a member of GCM’s investment committee. He has also served as Chief Executive Officer and as a director of GREC since November 2011. 
Prior to joining our company, Mr. Sher was a senior adviser at Prospect Capital Corporation, a mezzanine debt and private equity firm that manages a publicly traded, closed-end, dividend-focused investment company, from June 2009 to January 2011. Prior to joining Prospect Capital, Mr. Sher was a serial entrepreneur founding a number of ventures in the financial services and brokerage industry. In 2002, Mr. Sher was a founder and Managing Director of ESP Technologies, a leading provider of financial software and services to institutional asset managers and hedge funds. In May of 2007, that company was sold to a group of investors. Prior to co-founding ESP, Mr. Sher was a founder and CEO of an online brokerage company, ElephantX dot com Inc. Additionally, in September 1997, he co-founded, developed and managed Lafayette Capital Management LLC, a statistical arbitrage hedge fund. Mr. Sher also spent six years at Bear Stearns where he developed trading ideas and strategies for correspondent clearing customers from 1991 to 1997. Mr. Sher holds a Masters of International Affairs from Columbia University and Bachelor of Arts in Political Science from Rutgers University.
Mr. Sher was selected to serve as a director because he is our advisor’s Chief Executive Officer and has over 20 years of executive experience in various areas, having previously served as founder and CEO of several companies, including two broker-dealers. He has substantial private equity and investing experience involving originated loan transactions, including serving as a senior adviser at Prospect Capital Corporation, a publicly traded business development company (NASDAQ: PSEC). He also has experience working in the renewable energy sector, including a transaction involving the proposed sale of a 28MW biomass power plant to a private equity firm.

It’s going to be a great meeting. Come on out and learn about this investment opportunity. See you there!

Monday, August 28, 2017

Council of Community Services This week at REI of Virginia

Hello Everyone,

This week our guest speakers will be Dan Merenda & Mat Crookshank from the Council of Community Services.

Dan & Matt will be talking with our group about the services they provide. I have had many interactions with them over the years as one of their specialties is homelessness prevention. They have stepped in on several occasions with my residents and given them a helping hand catching them up on rent so they could get a clean restart when times get tough. 

They also put together various planning and programs specializing in other areas other than homelessness such as community engagement, information and referral and HIV/AIDS. 

Come on out this week to learn more about their services and how they can potentially benefit you and or your residents.

See you there!

Tuesday, August 22, 2017

Eliminating Bad Potential Tenants This Week at REI

Hello Everyone,

Do you do background checks on your tenants? Though the free courts website only? Do you need to also do one through a paid company? Are you taking a risk that they are a professional evictee from another state?Or that they are a violent criminal and that violence will be turned towards you when you make them mad as a result of evicting them due to non payment?

We have an important meeting this week about doing background checks. And our guest speaker will be property manager Jason Roggensee, owner of The Grandin Agency. 

Be there or be square!

Tuesday, August 15, 2017

The Virginia Eviction Process This Week At REI

Hello Everyone,

This week we’re going to have a presentation on the Virginia eviction process. I can’t think of any part of this business that I dislike more than filing for eviction on non paying tenants that refuse to get out when you have already terminated the lease…..But it has to be done. And it has to be done in a timely manor. 

Those of us that have done hundreds of evictions over the years have all learned some hard lessons. The purpose of this meeting is to prevent you from having to be taught these same lessons. 

Regarding filling out the paperwork, if it’s not filled out correctly you could be leaving money on the table and even worse you could have the whole eviction overturned. There is also a process, that when used, you can get paid on at least half of all of the evictions you have to file. Without garnishments. 

Come on out this week to pick up some tips that will save you time and money when dealing with bad or non paying tenants. 

See you there!

BTW, check out the video in the link below. Lead Safe Roanoke has more funding now. Which means you can get new windows and doors on your properties that qualify. Marla makes things real easy so this is not a program with a lot of hoops to jump through. Just a few. I have used it several times already and once this year. 

Monday, July 31, 2017

Deal Or No Deal This Week at REI

Hello Everyone,

We’ve got a fun meeting lined up this week. Our CTO Frank Erhartic is going to lead a presentation that will show you how to determine if you have a real estate deal, or you don’t. 

There are many different formulas that can be used in this determination and I’m assuming that Frank will be discussing them for both deals on rentals and deals on flips. And I’m sure there will be plenty of audience input. 

Going to be a great meeting. Y’all come on out!

See you there!

Tuesday, July 18, 2017

New Laws For Landlords This Week At REI of Virginia

Hello Everyone,

We have a super important meeting this Tuesday. Every year we have a meeting shortly after July 1st when new laws go into effect. This year attorney Darren Delafield is going to be our guest speaker. Darren will go over all of the laws that passed that are going to effect landlords.

This one is real important to ensure that your company maintains compliance with the new laws. Reschedule any other plans you may have. 

See you there!

Monday, July 10, 2017

Open Forum This Week At Our Real Estate Investors of Virginia Meeting

Hello Everyone,

This week we do not have a scheduled speaker so we will be having an open forum. Those of you who have been to these know that these types of meetings can be a lot of fun. This is where we talk about what you want to talk about. We will have several topics of discussion. This type of meeting can be highly informative. 

BTW, Spanky Macher, author of the book Slumlord Millionaire, asked me to let everyone know that he will be bringing books with him and if you would like an autographed copy he will be there to sign it. He didn’t sign mine which is irritating. 

Come on down for the weekly entertainment and learn some tips and tricks to operate your business efficiently so you can keep your money in your pocket where it belongs. 

See you there!

Monday, July 3, 2017

No REI Reminder For This Tuesday Considering It Fell On Independence Day. Reminder Of Why We Care Below..


There will be no meeting this week due to our meeting falling on the day recognized back in 1776 that the United States became an Independent Nation by breaking free from England. Just 3 years prior we had our first big display of resistance at the docks in Boston (The Boston Tea Party) when we dumped their tea in the ocean. No taxation without representation. 

Interesting when you compare the amount of representation America had prior to the American Revolution to the amount of representation that landlords get today in Roanoke City. The entire city would fall apart if it wasn't for us. Property taxes pay a third of the entire city budget. Landlords own well over half of all property in the city. Many neighborhoods the number sets at approximately 85%. However the city does not send a representative to our meetings as they do to every tiny neighborhood association and the few business associations I know of. And when you ask them to do something for landlords as a whole they act like it’s a big deal and they don’t do it. One of many examples is a requested seat on the Water Authority Board by any landlord so we have representation. Representation Denied!

They themselves are the enemy of the city. A parasite holding it back from what it could be. Their actions have caused Roanoke City to skip across the bottom in the housing market since the 2008 housing crisis. Which in turn has hurt every single homeowner in the city. Including owner occupied homeowners. And jobs which are largely supported by the housing industry or something that supports the housing industry. They even hurt themselves by hurting us. When you drive investment dollars out of the city you lower the value of every single property in it. Lower supply of investors creates a high supply of homes for sale due to the limited number of buyers. Which drops the value as there are only X number of dollars that will be spent on X number of houses. It’s simple supply and demand economics. 

That same supply and demand economics has a trickle down effect. And when those houses skip along the bottom just above the 2009 bottom when most other places have already reached their 2008 bubble levels, they hurt themselves as well. Their treatment of investors in Roanoke City hurts their tax values. And their radical anti business philosophy has brought us to today with their several million dollar budget shortfall. It’s only going to get worse as I will bet you any amount of money that when they read this email they will not contact any officer in our group to ask if they can team up with us to Make Roanoke Great Again. Because they don’t care. They want to continue the corruption selling tax payer owned buildings to their friends for 10 bucks. Which they just did again a few more times.

May God bless America. May God bless Roanoke and the surrounding areas. Our founding fathers fought and died for our Liberty. Which includes your property rights. And all other God given rights that the government seems to think these days are privileges granted by them.  Sorry guys but no one made you God. You’re a measly politician. That’s all. A CIVIL SERVANT. We are not your servant. 

Don’t give your rights back to a power hungry government for any reason. Give them an inch and they take a mile every single time. Demand your freedom as you were not put on this earth by God to be under the thumb of any special group of people. Your Liberty is non negotiable. 

Molon Labe… 

Happy 4th to everyone! Except those who hate this country. You can leave. 

See you next week..

Tuesday, June 27, 2017

The Do's and Don'ts on a Rehab To Rental

Hello everyone,

This week we have our officer / good friend, Sue Brocker, as the guest speaker for the night. Sue is going to lead a discussion about the do’s and don'ts of fixing up properties for rental. 

We’re going to go over some of the start and mid way photos of the REI rental rehab and will talk about what we are doing, why we are doing it and how far we are taking it. Not quite to the degree of a flip, but quite a bit away from the bare minimum necessary to rent it. 

It’s going to be a fun meeting. 

See you there...

Tuesday, June 20, 2017

Highland landlord who says city violated his Fourth Amendment rights dismisses lawsuit

Roanoke City is guilty many times over doing illegal warantless inspections of properties. Going to be real bad for them when someone sues. Or they get a class action suit. They under no circumstance have any right to even ask a tenant if they can inspect a property when they have been told by the property owner they can't. State law clearly states an inspection warrant is required if either the tenant or the landlord denies access. No big deal for them to get it. But they have refused to do so and have broken the law repeatedly.


St. Louis County 'Rental License' Ordinance Is Unconstitutional, Judge Says


Bad governments with uneducated elected officials who swear to honor the United States Constitution but don't even know or understand what it says. Or even care enough to read it or take a class on it. Pure lazy ignorance.
One after another... Cities illegal actions getting judicially shut down nationwide.


City orders man to stop letting grill smoke cross his property line.


State Appellate Court Strikes Down Groton Law

Roanoke City actually tried to unconstitutionally do this to landlords. They paid squeaky wheels to go down to Raleigh NC and study their illegal "PROP PROGRAM". What stopped them wasn't that it was unconstitutional and illegal as they don't even know what the Constitution says. What stopped them was the Dillion Law that Virginia has preventing them from becoming a rogue city.

State Appellate Court Strikes Down Groton Law http://www.ithaca.com/news/state-appellate-court-strikes-down-groton-law/article_2cc25848-5203-11e7-8948-e73c9aab6d94.html?utm_medium=social&utm_source=facebook&utm_campaign=user-share

Monday, June 19, 2017

For-Profit / Non-Profit Partnership Real Real Estate Tax and Estate Planning Strategy

Hello everyone,

I was contacted by a guy who is new to the Real Estate speaking circuit who will be driving out to our meeting to give us an interesting presentation. 

Alan Bardwell, of Irvington Sweetwater LLC, will be talking to the group about a tax / estate planning strategy that he is an expert in putting together. This strategy is for sellers of assets that appreciated, such as real estate, who would like to avoid 99% of capital gains and have immediate access to 100% of the sale proceeds without having to do a 1031 exchange to do so. With this strategy you also have no deadline or requirement for a subsequent asset purchase as you would have with a 1031 exchange. 

This technique includes your for profit company partnering with a non profit company which he says will make you exempt from 99% of capital gains taxes. An added benefit is you will retain control of the assets and activities of the partnership within your family from generation to generation without incurring inheritance or estate taxes.

I’m wondering if Alan is taking about setting up a Foundation to do so. I have been told that Foundations are the tool of the wealthy as you can transfer several million dollars to a Foundation every year and not pay a dime of taxes on any of the money you use to do so. All a Foundation requires is that you use those assets some time during the year for a cause. Such as owning a mega yacht that you take disabled kids out once in a while on a fishing trip. Who knows... I’ve been looking forward to this upcoming presentation by Allen.

Cancel your plans if you have any as there just may be that nugget of information you need in this meeting to knock it out of the park. 

See you there!

Real Estate Investors of Virginia. Copyright 2009 All Rights Reserved