Tuesday, May 24, 2016

Strange Landlords Website & Are You Getting Ready To Get Bit Or Licked?

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1. Interesting article by the Roanoke Times about a Floyd landlord, Mr. Amour Kasongo… who came from Rwanda and settled in Roanoke. He now owns 6 houses and set up a website called Yardstick that is supposed to be better than Craigslist as it doesn’t have the scammers. He says he only posts verified rentals to cut back on the scams where a person posts your house for rent using your ad and photos and charges several people deposits on it before they disappear.

He also said he is considering offering a years worth of rental payments for a tenant allowing them to repay Yardstick with interest. The idea is the landlord knocks off the last month of rent to get the guaranteed 11 months of payment upfront and he makes money from the one month you knocked off and interest.

I have plenty of 11 month deals for Mr Kasongo. The only Yardstick website I was able to find is https://angel.co/yardstick 

I don’t think the Roanoke Times did their homework. This looks like they are promoting a Nigerian scammer with a bunk website. Interesting how his last name is different on the website than it is in the article. Does the Roanoke Times check anything they write?

Here’s the original article from the rag.


Click Here!!!

2. Feds charge landlord for not allowing tenant to have a dog for emotional support. 
 Ladies and gentlemen. There has been an ongoing battle since legislation passed a couple years ago requiring landlords to allow pets for handicapped people without a pet deposit, pet rent, or pet fee of any kind. Even if you don’t allow pets in that property. The laws that our congressmen passed were very vague. So they left them open for interpretation. And what does the government do when you give them an inch? Yes, that’s right, they take a mile.

We all know that these laws weren’t initially intended to allow anyone that wants to, to scam their pet into a landlords house that doesn’t allow pets via a fake disability. They were intended for real disabilities and we all know that. All of us except the enforcers of the law. They are the only ones that don’t seem to get it.

Doctors are writing prescriptions to tenants for emotional pets like it’s going out of style. They don’t understand the implications of what they are doing. They don’t understand that their emotional pitbull isn’t allowed by your insurance company. And when their emotional pitbull bites someone, the person that got bit is going to get emotional and sue the landlord for everything they have.

People… I don’t have any problems with pitbulls so don’t get me wrong. I love all dogs. Any dog that is raised right can be man’s, or woman’s best friend. But your insurance company doesn’t trust them as well as several other breeds. And that causes a problem for you as a landlord. Especially when you can’t require, the supposed handicapped tenant trying to skirt your fees, to cary any special insurance or anything like that.

Any doctor that gives someone a prescription for a medical pet should require that that pet is certified for whatever particular medical purpose. That will end this problem for the most part. And we need laws in place that allow landlords to require special insurance on a pet that is not insured by their insurance company. It’s just common sense. Lets start thinking a little before passing bills in congress. Maybe we will be better off not passing any more bills at all and start working on eliminating bills.

Read the interesting article of typical government overreach below.
Click Here!!!

Understanding money this week at REI.... Debt, leveraging, financing, etc.

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This week at REI our special guest speaker will be Matthew Philmore of VIP Financial Education.

VIP teaches real estate investors how to accomplish the following:
Accelerating the payoff of all mortgage and non-mortgage related debt.
Maximizing monthly cash flow.
Increasing access to capital.
Accelerating the acquisition of investment real estate.
Increasing credit scores organically.
Unique and more effective budgeting.
Building Emergency reserves.

Matthew Philmore has studied under the founders of the FICO credit scoring system. He speaks nationally on the topics of credit scoring, debt elimination, fiscal responsibility and proper budget management.

He will be teaching the fundamentals of money, leveraging, taxes, and financing that are often not taught in schools. A good understanding of how all of this works together allows you to pay the least in taxes as a result of owning a business, create multiple residual income streams, own real estate free and clear faster than typical strategies, etc.

They are promising lots of good free information and techniques they call debt weapons that you can use at our upcoming seminar. We’ll see you there!

Monday, May 16, 2016

Know And Understand What Is Happening Politically To Position Your Investments So You Win!

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So, have you been thinking about buying some “safe guaranteed” government bonds or treasuries? How about some nice “safe” mutual fund that invests in bonds or treasuries? Lets look into the United States Debt and determine what you should NOT have your money invested in as we are in the middle of a government bubble. Smart investors never invest in a bubble. They buy at the bottom of the market after its popped.

US Debt and what it consists of:


It seems that most people I talk to know we have this massive 20 trillion dollar debt that Obama created but most don't know who owns it. Which helps in determining how it gets paid off, what gets negotiated, etc.

People act like China owns all of our debt but that simply isn't true. China did help cause our debt though. Their devaluing of their currency over the years helped create the debt along with reckless government spending and entitlement programs that aren't sustainable.

Over 5 trillion of the debt is owed to 230 federal agencies. This is Federal Debt to the Federal Government. These federal agencies bought US Treasuries. And the largest of all is Social Security at 2.8 trillion. You also have the military retirement fund, office of personal management, medicare, other federal government retirement funds, etc. Yes they do still have pensions set up for government employees and they will fight to keep their pensions rather than let them go into bankruptcy.

The rest of the debt is owned by the public. Of which 5 trillion is foreign public debt. Which mainly includes China and Japan. China's owed roughly 14% of the total debt and Japan 13% of the debt. 2.5 trillion of this public debt is owed to the Federal Reserve. I personally don't care about that. With their mismanagement of our economy they deserve to lose money. Especially when they are the ones that can print these notes out of thin air and require the US to pay them back interest on everything they print. As you probably know the Federal Reserve is a private business that is owned by the 12 largest banks in the US with insane powers no private business should have. So who cares about their debt. Besides the fact that their debt is interest we haven't paid them on money they printed. Federal Reserve "Note". They print and we pay them back the value of the currency plus interest. But they CREATED that currency out of thin air. How would you like the ability to print dollars whenever you want money. Then charge the people you give them to interest on what you printed. A huge scam.

Then we have 1 trillion that was bought by mutual funds. That would be the idiots that bought mutual funds that bought the debt. Would you buy government debt right now? If you would you deserve to lose your money. I don't care about their losses. I don't think we should guarantee anyone's bad investment. Maybe the day when the public starts guaranteeing my real estate investments is the day we guarantee peoples stock market investments. What kind of idiot guarantees someones bad investment?

Also in public debt there is local and state government pension funds. I also am not overly concerned about that. But I'm sure you are if you work for the government. You people need to stop this crap and set up 401K plans. What company these days still has pensions but the government? That total debt is 803 Billion.

Then you have banks that own 515 billion of public debt.

Insurance companies with 293 Billion

US savings bonds 174 Billion

Other (individuals, government-sponsored enterprises, brokers and dealers, bank personal trusts and estates, corporate and non-corporate businesses, and other investors) - $1.198 trillion

And that's the debt and who owns it. Now lets see what we want to guarantee and what we will negotiate. I personally think paying the people back for the government robbing them of their social security is important. Then government officials that bought treasuries with social security need to go to jail. Or better yet get on a payment plan to pay back what they spent. What do you think is important? And what isn't. I told you what I think isn't.

You Now HAVE TO Rent To Violent Criminal Offenders Or You Are In Violation Of The Fair Housing Laws.

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Several years ago we were ankles deep in police state type control of the people. We are now much deeper. More like waist deep. And it’s getting deeper by the year. The government has found that the more they push you the less you fight back. The people feel weak and hopeless. Like they can’t make a difference. That’s because the government no longer listens to the Will of the people. There was a day when government officials thought of themselves as civil servants. That they worked for the people. But today they are more like mini dictators that’s primary objective is to control the people.

They know better than you do how to run your life. Don’t you know that? The people are too afraid to fight back or do anything about it so on almost every occasion the government wins. In Virginia, they have now decided to issue a dictate stating that if you don’t rent to violent criminals, rapists and child molesters you can be charged with violations to the Fair Housing Act. And if you do you can be sued by the neighbors for your negligence. You should have never put a child molester next door to a child that got raped by them.

The world is crazy right now. The government on local, state and federal levels is operating with absolutely no since of reason or logic. For the past 8 years they have been pushing as hard as they can to take away your rights and now we are in the wake of some very serious damage to this country which is potentially beyond repair.

See below the details of the new government mandate that Virginia has dictated. Do you agree with it? I can’t think of a single landlord who would. I’m 100% on board with the existing protected classes that we have but adding criminals to the protected classes is shocking. I do not see a huge problem that has lead to all criminals having to live on the streets as a result of landlords not renting to them. They always seem to end up not having a tremendous amount of difficulty finding a place to live. There are plenty of landlords that don’t care.

The free market system should be allowed to operate without this type of government involvement. You as a landlord should not be FORCED to rent to a criminal if you don’t want to. It’s similar to the news where they were trying to force the cake decorator business to make a gay cake. If he doesn’t want to make one than go to another cake decorator and spread the word around that that’s a bad business. Then one of two things will happen. Either the general public will agree and not support his business or they will disagree and continue to do business there. In the end it should be the public that chooses, not the government.

We had some laws in the Virginia General Assembly that were an attempt to force landlords to rent to people with a different gender identity. The law added to the list of protected classes. I personally didn’t know of some major problem that existed with landlords not wanting to rent to transexuals. I actually don’t know a single landlord who would care. I personally love my gay tenants. As a whole they are typically very clean people and they take great care of my place.

Government intervention where it is not needed. It’s time that they government backed out of our lives and stopped this intense pressure of new regulation where regulation isn’t needed.
http://www.thenewamerican.com/reviews/opinion/item/23127-partisan-fairness

Landlord Entitlement Program That Will Make You Money This Week At REI of VA

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It’s nice to every once in a while be able to get back some of that hard earned money you give away to the government all year. It isn’t really an entitlement program but it sure feels like one. It’s very strange having the government actually put money back in your pocket. I’m so used to it being taken out. You will get the knowledge of how to take advantage of this program at this week’s REI meeting.

This week at REI of Virginia we are going to have our good friend Marla Robertson of Lead Safe Roanoke at our meeting. Lead Safe Roanoke is a Roanoke City government program that was set up by Marla and Ann Weaver.  These ladies apply for grant money which pays for lead abatement and encapsulation when the house has children in it 5 years of age or under, or if a pregnant female lives there. Right now they have funding again.

If you have lead paint on the walls or on a metal roof they will paint over to encapsulate it. They will also test the dirt around the house and if it has lead they will remove and replace it with several inches of mulch. If you have old windows or doors that have lead on them they will replace them as well. Painting over windows and door trim does not solve the problem. They have to be replaced. They are continually opened and closed which will rub the paint off and get back down to the lead paint again.

I have used this program several times and every single time the windows needed to be replaced and dirt had to be excavated around the house.

Come on out to our meeting this week to learn about this program so you can take advantage of it. There is only so much funding for this each year so you have to jump on it before it runs out.

See you there!

Tuesday, May 10, 2016

Roanoke City Election Results

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What a tight election that was. The votes were counted and recounted several times. John Garland and Trish White-Boyd were neck and neck. It turns out that REI of Virginia played a very important roll in this election.

This is a lesson to be remembered for all future candidates. You can not blow off the REI meeting if you are not the incumbent. We have 715 members in our organization. At least 1/3rd live within the city limits. It is a very bad idea to blow off the REI Small Business debate. If you don’t already have major support form being in office for several years, you may lose the election from not showing up to our debate. The proof is in the pudding below.

For Mayor the winner is:
Sherman Lea who got 82 %. Sherman was running unopposed. 17.8% of the public wrote in a different candidate. Surprisingly large number of people.

For City Council:
Anita Price               4,214 votes
Michelle Dykstra     4,143 votes
John Garland           3,534 votes - Showed up at REI Small Business Debate
Trish White-Boyd      3,487 votes - Wow that’s close - Blew off REI Debate
Freeda Cathcart          2,913 votes
Duane Howard           758    votes

REI of Virginia would like to congratulate the winners of the City Council and Mayor positions. Sherman Lea, Anita Price, Michelle Dykstra and John Garland. We know it was a long hard road for you. Now we hope that you will always act in the best interest of both the citizens and businesses. Creative thinkers are what we need. Relationship builders. A good relationship between local government, real estate investors & small business owners could make this city the Shining Star in the Valley again. 

How To Course on Airbnb ~ Limited Residential Lodging Act of Virginia

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Hello everyone,

This week we’re going to have an in’s and out’s meeting about airbnb. For those of you who don’t know, airbnb its similar to VBRO (vacation rental by owner). But it’s much larger. Airbnb is a website where people can stay in someones house rather than a hotel when they travel. It’s the home version of Uber. With airbnb you can rent out rooms in your own house for a night or for a few days, whatever you wish.

What a great way for someone to make a few extra bucks. Several people across the country are using airbnb to avoid foreclosure when times get tight. Or to have money to buy a new car or whatever. It’s a fantastic survival tool just like the Uber concept where you use your own car as a taxi and drive for a while when you’re bored or need some extra cash. My tenants can even make money to pay me their rent with this fabulous new tool.

Our officer, Sue Brocker, has been an airbnb host in one of her properties for a while now and she is making some good extra money doing so.

Roanoke City was trying to control the citizens by making them jump through hoops and pay several hundred dollars to file a legal notice as well as a non refundable fee to plead before the board of zoning appeals for them to graciously allow you to let people to come stay in your own personal home. As if any government official has the right to prevent you from having people over at your house.

Boy… were some of the city council members mad when the state made it a RIGHT for you to do this rather than a privilege in this years general assembly meeting.  I personally spoke with one of the currant councilmen and he was hot. I was essentially told this.… (How dare they do this to us. Airbnb loved Roanoke City and how we created an avenue for the citizens to be able to rent rooms out of their homes…. We were even contacted by them…. We are one of the few progressive cities to do this.… It’s not fair to everyone who thought they were moving to a quiet neighborhood and the next thing they know there is a lot of traffic coming and going from their neighbors house…. This is why the board of zoning appeals process is important.… It allows neighbors to have a place where they can go to stop things like this…. Dallas do you know the calls I’m going to get when people call me and tell me that they can’t stand all of the traffic coming out of that house next door? What am I going to tell them Dallas? I guess all I can say is what I so frequently have to say….. our state politicians decided that you neighbor has the right to have people over at their house and I can do nothing about it. It’s too bad for these people that I can’t help them anymore.)

All I can say is WOW. Isn’t that the perfect demonstration of how a fringe leftist thinks? That they actually have the right to be able to strip your property rights and your liberty away from you if they wish. Or if your stuffy neighbor wishes. Control is the name of the game for the far left guys. It’s all about keeping people under their thumb. And they do this under the guise of political correctness. They develop reasons why the government needs to govern. Why they need to control the people. To protect the victims… Don’t get me wrong, Republicans do this as well. Just not as much. The only political organization that is not focused on stripping your liberty away from you are libertarians.

These types of progressives are often very self important. I have been told by this city councilman, on several occasions, as we wrap up a conversation, in a jokingly way, to “stay out of trouble”. Haha, that’s real funny. Shouldn’t I be telling them that? I am the one that’s the law abiding citizen. He’s the one that better stay out of trouble. This $10 dollar buildings to friends program they set up very well could eventually end up landing some of them in prison. They don’t think so though. These types feel they are too important to get locked up but I can assure you that they aren’t. To take this further, I was told at the end of this particular conversation a few months ago by this councilman, “See, I will even talk with people of the likes of you Dallas.” Gosh that guy is a real comedian isn’t he?

Well, we have been lucky so far. Often when the city tries to strip away your liberty, it is given back to you by the state. Gosh those darn liberty loving people are always messing things up for the oppressors. The city now has no authority to force you to jump through hoops or prevent you from renting out your home to guests as it now has been deemed a right. As long as you are not infringing on the rights of others, they need to stay out of the way and focus on their multi layered pension programs, world class health care, and other ways of robbing you.

Ohh, did you just learn that I am not a fan of the government choking the life out of the citizens?

Facts about the new law that I gather:
1. Specifically prevents Any Locality from passing laws to prevent you from doing this in a residential dwelling no matter what the zoning is. Sorry Roanoke City too bad you aren’t allowed to control us.

2. Prevents the locality from forcing you to adhere to any zoning or licensing requirements that a hotel, bed & breakfast or any other like commercial organization has. They can’t legally impose any additional regulations upon you for doing this. The City was in hot water from what they were doing to the citizens of Roanoke so they immediately terminated their citizen control program.

3. As of now if you rent it out for fewer than 45 days they can not even consider it as a business to tax. However if it is occupied more than 45 days than they can tax you but it has to be done in a uniform manor among all operators which is you if you operate one of these temporary lodging facilities in your house.

4. Localities are allowed to place local ordinances related to noise, trash, health and safety, parking, yard signs etc but only if those ordinances effect not only the temporary lodging but the houses around it as well.

5. A locality can force you to get an insurance policy of a minimum of 500K liability coverage and if they require that and if they catch you not having it they can charge you no more than $200 per violation.

6. If you don’t pay your taxes on the 45 day or more annual stays they can put an ordinance in place that makes it so you are prohibited from operating this temporary lodging, that you can be audited by the tax man, and require you to register your name and address through an online portal maintained by the city or town.

7. This law specifically calls a tenant both a limited residential lodging operator and a primary resident allowing them to do this if they have lived in the unit for at least 60 days. However it also says that nothing shall be construed to supersede or limit contracts or agreements between or among individuals for the use of the property. So that says that if it is in your lease that they can’t act as a residential lodging operator than they will not be allowed to do airbnb. However if it is not in there they have the right to do so. I will be convincing all of my tenants when having difficulty with rent or losing a job that they should consider making some extra money with airbnb and Uber.

8. If it’s in a homeowners association or condo association contract that you can not do this than you can’t do it. As that is also a contract between parties.

9. The hosting operation such as airbnb or VRBO has to register with the state and collect taxes for them. That will automatically come out of the portion of money they keep.

10. This law does not say anywhere that I see that you can’t do this in one of your rentals. The city before was making requirements that you have to live in the house to do it. I see no requirement such as that in this state law.

11. They will revisit this in 2017 and determine if there needs to be changes made after meeting with a group consisting of the hotel industry, hosting operation, local government and local tax officials, property owners and other interested parties.

Come on out to this meeting. It’s not going to involve all of these details. I am giving those to you now. We’re past that at this point. Save this email for reference. The focus of our meeting is how to use programs like airbnb to make some extra money for yourself. This could even be a great way for a person just getting involved in real estate investing to save up for their first rental.

Going to be a fun meeting, see you there!

Thursday, May 5, 2016

Wholesale Deal ~ Highly Motivated Seller! BUY THIS PROPERTY YOURSELF OR JOIN UP WITH OTHER REI MEMBERS AS A GROUP INVESTMENT

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Hi Dallas,

Some time ago I mentioned that my wife was undergoing some serious medical issues that required an operation to hopefully rectify an non-functioning pancreas. Unfortunately, a subsequent M.R.I evaluation indicates that the operation was unsuccessful. Understandably, this dire news will require that we be available to secure other options and resources worldwide, to hopefully remedy or belay her critical situation. To accomplish this I have made the radical decision to free up all my financial obligations in my investment properties, at all costs, within the next 30 days.

To do this I am offering the following unprecedented investment offer to your R.E.I. members for consideration:

I am prepared to take a significant loss on my initial investment] by reducing my original selling price on my 22,000 sq. ft. buildings from the already low price quoted to R.E.I. of $599,900. down to $463,800., which is the balance of my mortgages and loans. This is an additional $136,100. reduction savings, and lowers the dollars per square foot to an unheard of $21.04 per sq. ft. -  which is more than 50% below all local Botetourt comps. It also means that, at this lower price, the investment “in-cost” of the four buildings calculates to only $115,000. per building. There isn’t another commercial building in the State of Virginia that can be built at this “bail-out” price! And, if there ever was a commercial  investment property more structured to group investment participation of your membership, this is the one.

Group investment Calculation:
Original Sale Price of 22,000 sq. ft. building of $599,900. Reduced Down to $462,800. + include $37,200 for roof repair & closing costs = $500,000. Gross sale price.

Divided into 25 group investment units @ $20,000. Each. [This can allow each investor to choose how many units they want to participate in]

OR, Financed on a 20% down Payment [$100,000] = only $4,000. per investment unit. Balance as a group mortgage loan.

Marketing and/or Exit Strategy:
1. Quick Flip Sale at a reasonable $650,000. = $186,200. profit [40% R.O.I.]
2. Quick Flip Divide & Sell 4 Bldgs. individually at $839,600. = $375,800. profit [81% R.O.I.]
3. Develop Property into Antique Mall & Sell at $930,000. = $466,200. profit [101% R.O.I.]
Dallas, from my many years of experience in commercial investments I must say that there is absolutely no downside to my exceptional offer. Additionally, I sincerely believe that the investment that I am forced to propose, for closing within the next 30 days, may very well be an attractive vehicle to get your members more comfortable with group commercial investments, with no singular liability exposure. Honestly, if I could, with the projected economic growth in the county, over the next few years, I would be investing in as many residential and commercial properties as possible.

As always, I would certainly appreciate your valued thoughts, and/or, assistance in this critical matter.
Sincerely,
Ken

Additional Investor Information – Commercial Investment Valuation:
Based on R.E.I. 65% valuation method >>                    $987, 243.
Based on R.E.I. 50X rental method >>>>                    $1,220,000.
Based on Insurance buildings replacement value >>   $1,320,000.
Based on $75. per sq. ft. building costs value >>         $1,650,000.
Lowest $ per sq. ft. costs of ALL Botetourt Commercial Comps                

County Demographics
Over the next 3 to 5 years, Botetourt County is poised to experience the largest growth in county history. They have:
a low unemployment rate;
high number of high quality jobs;
utility costs among lowest in U.S.;
cost of living much lower than national average
low taxes & fees;
VDOT daily traffic count for Roanoke off I-581 Approx 35000 vehicles, while for Botetourt off I-81 Approx 25000 vehicles.

Future County Commercial Development Projects:
New multi-million dollar Wind Farm project;
Arkay Packaging will invest over $10 million dollars creating over 50 new jobs;
Capco Machinery will have a $4.2 million expansion, creating over 40 new jobs with an average wage of $60,000.
NBG Holding will invest $5 million creating over25 new jobs with an average wages of $75,000.;
Dynax America is investing over $32 million creating over 75 new jobs;
Virginia Community College System has signed a lease 200 jobs;
Eldor Corp is investing $75 million creating over 350 to 650 new jobs with an average wage of $38,000.;
Fralin & Waldren have an ongoing extensive commercial building project in Daleville Center;
The Exit 151 interchange project involves $220 Million in Construction Costs;
Botetourt County has funded an aggressive development plan called the “Exit 150 Gateway Project.”

Taking into account all these demographic factors, an informed investor may consider Botetourt County as an extremely favorable area for residential and commercial investments.

CONTACT:   Kenneth Bray
                    540-591-9021
                    brayk@glowarama.com

Tuesday, May 3, 2016

Predicting The Future?

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How would you like to be able to predict the future?

To know today what you should buy to make the best return on your money over the next twenty or thirty years. Should you buy low priced, high rate of return properties in depressed parts of town? Old Southwest used to be a depressed neighborhood. Or more expensive, lower rate of return properties in an already well established more desirous part of town?

Andy Stowasser is going to do a mathematical analysis and lead a discussion to look at the pros and cons of both scenarios.

Come on out this Tuesday for our educational discussion that will show you where in real estate to invest, based on your own unique situation, to accomplish your personal goals.

IF YOU LIVE IN THE CITY DON’T FORGET THAT TUESDAY IS ELECTION DAY AND YOU NEED TO VOTE!

Last week we had a good turnout for our Small Business Owner City Council Forum. For the next election the word DEBATE will be in it as several of you have requested, not Forum.

I would like to congratulate all of the candidates that were not afraid to come and talk with our group and answer a couple semi difficult questions. The candidates that showed up at our meeting displayed to our group that they are strong enough to tackle issues that are important to what is likely the largest single location small business group in the entire state, AKA, REI of Virginia.

Overall the candidates agreed upon several important issues. They don’t feel that it is in the best interest of the tax paying citizens to give property we own away to friends for 10 dollars. That was clearly a bad decision of the currant city council. 10 dollar buildings to friends has developed into regular yearly commonplace within our local government and the overall consensus was it needs to stop.

They obviously also all strongly felt that jobs are key to our economy. The differences lie in exactly how jobs are created.

Below is a link to a poorly written article by someone who is clearly not an entrepreneur, acting like they are an economic analyst. In this Roanoke Times article they made sure the name was removed from the article so their reporter wouldn’t be ridiculed for their ridiculous stance. The writer cited a dirty politicians engineered statistics that were designed to fulfill his pet project as evidence.

He / She essentially says that nothing can be done regarding keeping jobs in Roanoke and it is painful to him / her that the small business owners in REI of Virginia don’t know that. That it’s an “unhealthy fixation” to even think that the city could have asked companies like Advance Auto Parts or Norfolk Southern what can be done to maintain a great business environment for them here in the city. They further imply that our great leaders have done the best job that can be reasonably asked. Typical garbage that you can expect to read from the local rag.
http://www.roanoke.com/opinion/editorials/our-view-an-unhealthy-fixation/article_eb1dc8cc-1409-53f0-90cf-5eae74f8fae9.html

The candidates that were not afraid to discuss business issues, in no particular order, include:

(I’m making an effort to define the write in’s and independents politically from what I have seen. You may have a different impression.)

Jim Garrett (Conservative Republican Write - In Candidate for Mayor AND City Council) The Republican Party asks that he is written in with no other candidate being chosen. They feel that this will give him the best statistical shot this late in the game.

Martin Jeffrey (Write In Candidate - Previously ran as Independent / Democrat in other elections. Former NAACP Branch President. Martin had some great answers to our questions.)

Freeda Cathcart (Currently running as an independent. Freeda is clearly Democrat)

John Garland (John I would say is a moderate Republican. John has a fascinating video here on saving Happy’s :-)
https://www.facebook.com/savehappys/

Duane Howard (Duane leans primarily Democrat but has some republican viewpoints mixed in. I would say Duane has done the most in support of the neighborhood groups over the years.)

Michelle Dykstra came to our meeting prior but did not stay for the debate. I have briefly talked to Michelle. I would say she is a Democrat by my conversation and the way she answered other forum questions. She has been known during this election as one of the most well spoken.

The candidates that did not show up were Sherman Lea, Anita Price and Trish White-Boyd. I have been told that anything that Anita does, Trish does. Anita decided she didn’t want to be questioned on business related issues. So the two of them didn’t show.

I have had lunch with Sherman Lea a couple of times. Sherman didn’t do as we agreed which was to assist with getting REI of Virginia one of the City Council Appointed Water Authority board seats so we have at least 1 landlord as a representative, however I can honestly say that I didn’t follow up with him much. A couple attempts and I gave up feeling that he wasn’t going to honor his word. Maybe one day he will revisit that issue with us.

Sherman is a landlord. As is Mayor Bowers. Most people involved in politics are as it seems. Primarily on a national and state level.

A few of us spoke with Sherman’s son after the REI debate. His mom / Sherman’s wife, has been in the hospital all week. So that is what I am told why he didn’t come.

So that’s the rundown on the candidates. Please vote for who you feel will best represent our entrepreneurial endeavors.

Thursday, April 21, 2016

April 26th City Council Candidate Debate Hosted This Week At Corned Beef & Co. ~ Don’t Miss It!

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REI of Virginia will be hosting the Tuesday, April 26th, City Council Candidate Debate. The debate will take place at Corned Beef & Co., 107 S. Jefferson St., Downtown Roanoke City from 6:30 pm to roughly 8:00 pm.

This is one of the final debates before you vote for your favorite candidate. This is a public debate and everyone is welcome. The questions all pertain to business, jobs and real estate related issues. The media has said that the candidates are very similar and don’t have many differences. The debate questions were designed to draw out the differences so you can select the candidate that most agrees with your perception on how Roanoke should operate.

This year we could coin this election as the neighborhood support election. The candidates have, more than previous elections, made it crystal clear at several of the debates that they all whole heartedly support the neighborhoods. Time will tell if that comes to fruition. At this debate we’re going to find out if they show the same love for business.

A couple of the highlights that have happened so far in the election include all of the candidates stating that they supported Roanoke City being a Sanctuary City for illegal aliens but several rebutted. They also all took a firm stand against a Roanoke company called SafeSide Tactical who legally and constitutionally sells guns. We’re going to find out what other businesses they don’t support if there are any and what types of businesses they encourage in the city.

There are lots of great questions at this debate that will differentiate the candidates. The candidates are going to give you their ideas on neighborhood blight in some of the low income neighborhoods in the city and how to fix it. Do we focus on stronger punitive methods of forcing compliance with state codes or are there positive reinforcement solutions? Is the city taking part in corporate welfare or do we need to give handouts to get jobs?

Both businesses and the citizens have been burdened with higher tax rates over the past few years while times are still tough for most. Do our candidates have any ideas on what we can do to prevent future tax increases or do they have plans to repeat the actions of the past?

We’re looking at the future of Roanoke at this meeting and making plans to undo damage from the past. Our candidates have ideas on bringing more jobs to our community and they are going to give us some hints on how they plan to do it.

This is expected to be one of, if not the largest, debate of the election. Don’t miss it! Get there early so you can get a good spot. The room will hold roughly 150 people maximum. We will start at 6:30 pm sharp.

Be there or be square…

UPDATE:

THE POST ABOVE IS NO LONGER VALID.

I wrote some tough questions but they were mostly stricken from our meeting. Taken out with not a shred of conversation with the officers prior to doing so. The new questions were written up and sent right out with no discussion and an email to me stating they have been changed.

I personally feel that each of the candidates are strong enough to have a real debate with hard questions. They are not afraid to answer real questions. The only ones who may be are the two incumbents as some of the questions bring up questionable history of Roanoke that they were involved with. Ohh well, you make your bed you should have to lay in it. And I’m sure the media would be very curious as to why they didn’t come if they refused to do so especially considering there are questions that they should be answering.

The public wants a real debate. All over Facebook and comments to articles in the paper people are saying so. The candidates also want a real debate. I have been personally told by 3 of them that they want a real debate. And more evidence of this is John Garland actually shared the article I wrote above on his Facebook. He is clearly not afraid of answering difficult questions about how he feels on any issue. Even the Roanoke Times was complaining about the lack of questions that demonstrate the differences in the candidates. Which is as a result of having a bunch of forums instead of debates. The Williamson Rd Business Association even had rules on the candidates such as not allowing them to talk about what has happened in the past or specifically target another candidate in the questioning. Bad, bad, bad!

I created that real debate that would have forced the candidates to show their true colors. To show who they really are and how they will treat business. To demonstrate if they will only be supportive of the neighborhoods or they feel that business plays a very important roll in the health of a city. Unfortunately my questions were largely destroyed. Here I will post my initial debate questions and following will be the new supposed improved forum question.

BTW, I’m not saying that my questions couldn’t have been slightly tapered back even though they probably didn’t need to be at all. I actually encouraged that. But radically changed to weak forum questions that prevent a real debate without a shred of discussion prior to sending them to the candidates. Absolutely not… That was unacceptable!
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My Debate Questions:

1. This election, more than others, there has been a very strong emphasis on support for the neighborhoods. It seems that there has been a lack of the same enthusiastic focus for specific ideas the candidates have to encourage the growth of business. All of the candidates at the Park Dance Club debate came out against the business SafeSide Tactical who stated they would eventually employ 50 people.

Question:
Are their any other types of businesses that you will stand against as a result of your beliefs and what types of businesses do you intend on encouraging?

APPARENTLY IT’S REAL BAD TO SHOW THAT THE CANDIDATES DO NOT SEEM TO BE SUPPORTING BUSINESS AND GET THEM TO TALK ABOUT IT TO GET COMMITMENTS FROM THEM THAT THEY WILL. IT’S ALSO APPARENTLY BAD TO GET THEM TO EXPLAIN IF THERE ARE ANY OTHER BUSINESSES, OTHER THAN A GUN SALES BUSINESS, THAT ARE CONSTITUTIONALLY PROTECTED, SELLING LEGAL PRODUCTS, THAT THEY WILL NOT SUPPORT. THIS QUESTION EVEN GIVES THEM AN OUT ASKING THEM TO EXPLAIN WHAT KINDS OF BUSINESSES THEY WILL BE SUPPORTING.

THE ROANOKE TIMES ASKED THAT SAME EXACT QUESTION I DID. BUT APPARENTLY I AM NOT ALLOWED TO ASK IT AND THE NEW REPLACEMENT QUESTION BELOW IS BETTER. AS IF THEY HAVEN’T ALREADY BEEN ASKED THAT AT EVERY SINGLE FORUM THEY HAVE DONE. THIS IS A DEBATE NOT A FORUM.

NEW QUESTION:
What are your short term goals for the City of Roanoke?
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2. The city has for a long time had a policy of selling tax payer owned buildings and land that often has hundreds of thousands to millions of dollars in value to select investors. Examples of this would be the sale of the YMCA building for 10 dollars of which REI of Virginia had an offer on for 50,000 and the Health Department building sale which was another 10 dollar building among many others.

Question:
Do you feel that it’s in the best interest of the tax payer, who is the real owner of the property, to advertise these properties for sale on the same scale that the city advertises a tax sale and sell it to the highest bidder? And does the local neighborhood have the right to decide what type of business is best suited in the building or on that land? If so, how will that process be enacted?

THE NEW QUESTION BELOW IS SIMILAR. THERE IS A REMOVAL OF SPECIFIC EXAMPLES AS IF THEY ALL MONITOR OUR INDUSTRY AND ALREADY KNOW. AND REMOVAL OF THE QUESTION IF THE NEIGHBORHOOD GROUPS SHOULD BE ABLE TO DICTATE WHAT TYPES OF BUSINESSES EXIST IN A COMMERCIALLY ZONED AREA. I GUESS I’M OK WITH THAT GONE.

NEW QUESTION:
The City has a long standing policy of selling tax payer owned buildings and land to select investors for $10.00. Do you feel this a good policy or should these properties be sold the same way the city advertises and sells tax sale properties, to the highest bidder?
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3. Businesses and the citizens of Roanoke have been burdened by several additional taxes recently such as the raised property taxes, higher meals tax and a brand new rain tax.

Question:
If you were elected to the city council do you feel like there is still room for additional taxation? Have you looked over the city budget to find any areas in particular that you feel we could make some cuts to avoid new taxation or reduce taxes to their original levels? Or do you see tax reduction as not being feasible with todays scope of government?
Second part of the question, How would you replace taxes when there are lost revenues from lower property values or other things such as the Norfolk Southern lawsuit where they are expected to win against the city on gravel being a surface that water will penetrate?
I GUESS WE WILL NEED TO SETTLE WITH THE NEW HIGHER LEVEL OF TAXES AND NOT BE CONCERNED ABOUT THEM GETTING BACK DOWN TO WHERE THEY WERE AS THAT QUESTION WAS REMOVED.

HE ALSO TOOK OUT THE RAIN TAX SPECIFICS WITH THE NORFOLK SOUTHERN QUESTION. IF NORFOLK SOUTHERN WINS THIS LAWSUIT AGAINST THE CITY THERE WILL BE A SIGNIFICANT AMOUNT OF GRAVEL DRIVEWAYS, ETC THAT WONT BE TAXED. IF THE CITY LETS NORFOLK OFF AND CONTINUES TO TAX EVERYONE ELSE I KNOW SEVERAL PEOPLE IN REI THAT WILL PUT DOWN THOUSANDS OF DOLLARS EACH TO SUE THE CITY FOR THE REST OF THE CITIZENS. IT WOULD HAVE BEEN NICE TO SEE FROM EACH CANDIDATE IN THIS SPECIFIC EXAMPLE IF THEY WERE PLANNING ON REPLACING IT WITH MORE TAXATION OR IF THEY WOULD MAKE BUDGET CUTS TO COVER THE LOSS.

NEW QUESTION:
Are you aware that this organization’s members own over 70% of the real estate in the City and are the largest real estate tax payer? In the past few years we have been burdened by several additional taxes such as an increased tax rate and rain tax. If you are elected to the City Council, do you feel there is still room for additional taxation? And have you looked at the city budget to find areas to make cuts and reduce taxes?
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4. Businesses fund the largest portion of the city budget, and are clearly important to the health of the city. It’s commonly discussed among business owners that the city seems to have an attitude of what they can do to prevent a company from doing business by putting continual road blocks in the way of progress rather than encouraging a company to grow their business. These pressures come from various departments including taxation, zoning, building inspections, code enforcement, fire marshals, etc. We have all heard fellow investors say they will never buy another property or open another business in the city as it is much easier to deal with the surrounding areas.

Question:
Do you have any ideas on what you feel will help create a more positive relationship between businesses / investors and the city? And do you feel the economic development department of the city is doing an adequate job at both growing the number of businesses and jobs in the city as well as talking to businesses to see how the city can better work with them to create a thriving environment that they will not want to leave?

REMOVAL OF ALL EXAMPLES SO CANDIDATES COULD REASONABLY THINK THAT THERE ALREADY IS A POSITIVE RELATIONSHIP BETWEEN THE CITY AND BUSINESS. NATURALLY SOMEONE WHO IS NOT IN BUSINESS WOULD THINK EVERYTHING IS A-OK. WHY IS THIS NEW QUESTION BELOW ASKED TWICE. ONCE HERE AND ONCE IN NUMBER 7? I DIDN’T ASK ANY QUESTION TWICE. WHAT ARE WE DOING THIS IS CRAZY…

NEW QUESTION:
What are your ideas that will help create a more positive relationship between business / investors / landlords and the city?
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5. Cities, counties and towns across the country have various plans in place to bring jobs to their town. It is of upmost importance to our organization that our city council candidates know and understand how to create an environment that brings jobs as a rising population will increase the value of property for everyone. Towns across the country have varied programs they have created to bring jobs. Camden Maine offers 3.5 acre lots to families for free who are willing to bring jobs to the region. Several towns have tax incentives to businesses that will relocate to their area.

Question:
Why do you feel the Roanoke area has had so many large job losses, what can be done to prevent companies from wanting to leave, and what ideas do you have to direct your city manager to implement that will lead to a net increase in jobs for the city?


CUT BACK SOME BUT NOT MUCH. HE TOOK OUT WHAT IDEAS THEY HAVE TO INCREASE JOBS DURING THEIR TERM AS IF THAT ISN’T IMPORTANT.

NEW QUESTION:
Why do you feel that the Roanoke area has had so many large job losses, i.e. Advance Auto, Norfolk Southern? And what can be done to prevent companies from wanting to leave?
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6. The Deschutes Brewery deal which seemed to come just in time includes a 3 million dollar contribution from the states Commonwealth Opportunity Fund and a host of other incentives that sweeten the deal. They were given a tax payer owned parcel of land worth roughly 2.75 million, a grant of about 140,000 from the cities Enterprise Zone Program and a performance based grant from the city through the Economic Development Authority of roughly 1.4 million and a couple other performance based grants that total $225,000. The city expects to spend another million to extend the Tinker Creek Greenway to their facility.

As of now we are looking at giving Deschutes Brewery roughly 7 and a half million dollars in trade for their production of a 85 million dollar brewing facility and 108 jobs for citizens of the area .

Question:
Do you see large donations of tax payer money like this to companies as corporate welfare or a necessary method of attracting jobs? And if this is necessary do you have plans that you will use to continually fund these deals. Or do you feel there are more cost effective ways of attracting large or small employers?

OK SO ANDY HIMSELF ASKED THIS QUESTION. I DID THE RESEARCH ON IT FOR HIM HE THOUGHT WE WERE PAYING 1 MILLION TO BRING THEM HERE AND THE REALITY IS MUCH MORE. MAYBE THE ANSWER IS CORPORATE WELFARE IS A GOOD WAY TO GET NEW BUSINESS TO ROANOKE. IF IT IS I HAVE NO PROBLEM WITH IT. NEW JOBS PERSONALLY BENEFITS ME AS MY PROPERTIES INCREASE IN VALUE.  THIS IS SOMETHING THAT SHOULD BE DISCUSSED. NOT HIDDEN FROM. MAYBE THERE ARE IDEAS TO BRING EMPLOYERS HERE AND PAY THEM NOTHING THROUGH GIVING MAJOR TAX BREAKS. I DON’T KNOW. ALL I KNOW IS IT IS IMPORTANT AND ASKING ANOTHER OF THE SAME QUESTIONS THEY ARE ASKED AT EVERY “FORUM” IS NOT NECESSARY AND NOT IMPORTANT AS THEIR ANSWER IS ALL OVER THE INTERNET ALREADY. I RESEARCHED THIS BEFORE I WROTE MY QUESTIONS. THE QUESTION CHANGER DIDN’T CHECK TO SEE IF THEY HAVE ALREADY BEEN ASKED.

NEW QUESTION:
How do you differentiate yourself from the other candidates?
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7. Some neighborhoods throughout the city have dilapidated housing. This is a result of a small minority of landlords as well as owner occupied properties which often consist of elderly or people living in poverty who don’t have money to fix up their house or SIMPLY DON’T CARE. 30 years ago the entire Roanoke City Code Enforcement department consisted of 4 hard working people. Today the department has ballooned to over 20 people but the neighborhood blight issue remains.

Question:
What do you feel will be the MOST EFFECTIVE method to get a landlord OR citizen to rehabilitate their property BEYOND the currant minimum state code to create an up and coming “this is the place to move to” type neighborhood? And do you feel that increased punitive measures such as fines are the best way to motivate people or some form of positive reinforcement and please give an example.

FORGET ABOUT THE PAST IN THE NEW QUESTION. I GUESS IT’S MEANINGLESS THAT THE DEPARTMENT HAS BALLOONED IN SIZE. THE NEW QUESTION ASKS THE SAME EXACT THING AS NEW QUESTION NUMBER 4 DOES. WHAT WOULD YOU DO TO IMPROVE RELATIONSHIPS? WHY TWICE? I THINK THAT IS AN EXTREMELY IMPORTANT QUESTION I WROTE AS MOST OF THE CITY ALREADY IS FIXED UP TO THE CURRANT MINIMUM CODE.

THE PROBLEM IS THE NEIGHBORHOOD GROUPS ALL WANT TO BE THE NEXT OLD SOUTHWEST. THEY WANT PEOPLE TO TAKE THE PROPERTIES AND TREAT THEM LIKE THEY LOVE THEM. TO PRETTY UP THE NEIGHBORHOOD AND MAKE PEOPLE WANT TO LIVE THERE. THIS REQUIRES TAKING THEM BEYOND CURRANT CODE.

SEVERAL OF THE NEIGHBORHOOD GROUPS WANT TO DO THIS THROUGH PUNITIVE METHODS AND EXTREME FINES TO LANDLORDS AND CITIZENS. THEY ALSO WANT TO PRESSURE OUR SENATOR AND HOUSE MEMBERS TO CHANGE LAWS TO MAKE THEM MORE RESTRICTIVE TO EVERYONE.  I THINK POSITIVE REINFORCEMENT METHODS ARE THE ONLY EFFECTIVE WAY TO GET PEOPLE TO FIX THEIR PROPERTY UP BEYOND CURRANT CODE. ANDY HOWEVER THINKS THIS QUESTION IS BEST OFF BEING LEFT OUT AND ASK THE SAME EXACT THING AS NEW QUESTION NUMBER 4. HE ALSO UNINTENTIONALLY IMPLIES IN HIS QUESTION THAT LANDLORDS ARE THE ONLY ONES WHO HAVE PROPERTIES THAT AREN’T FIXED UP AND THAT SIMPLY ISN’T TRUE. IT IS BAD TO EVEN GIVE THAT IMPRESSION TO PEOPLE.

NEW QUESTION:
There are many blighted areas in the City. Many individuals have stopped renovating these properties due to the extensive government bureaucracy in doing so. What would you do to improve relations with the landlords in the City and improve these neighborhoods?

Apparently there are some people in our group that think all of the candidates are so weak that none of them will come if they are asked tough questions. I honestly think they are strong enough to give a good reason why they believe something contrary to what others believe. There are plenty of people in Roanoke that will be on their side.

These candidates aren’t only here to talk to us. They are encouraged to say whatever they HONESTLY feel. ALL of the media was invited. There will be media there and they should be answering and talking to the public. Not to us. They should be telling the public what they think they want to hear to get themselves elected. Which is not necessarily what you or I want to hear.

These candidates are strong enough to be able to stand behind their beliefs. Treating them like weak timid little children is unacceptable. The DEBATE questions should be asked. Not the new forum questions along with the same questions they have been asked everywhere. And this NEVER should have happened without prior discussion.

OK IM DONE. YES I’M PISSED OFF ABOUT THIS AS YOU CAN TELL. AND I THINK RIGHTFULLY SO.  I WILL GET OVER IT AND WON'T BE MAD AT ANDY FOREVER EVEN THOUGH IT IS EXTREMELY IRRITATING.OVERALL HE IS A REAL GOOD GUY OTHER THAN THIS BIG SHOCKER OF A SURPRISE. I THINK HE DIDN'T THINK THIS THROUGH BEFORE CHANGING AND SENDING THOSE QUESTIONS. THERE SHOULD HAVE BEEN SOME DISCUSSION. WE WILL BE BEST OFF SWITCHING BACK. AT LEAST THATS WHAT EVERYONE I HAVE SHOWN IT TO HAS SAID. AND I'LL BET THE CANDIDATES AGREE AS I DON'T THINK THEY ARE WEAKLINGS. AND THOSE THAT ARE I WANT TO KNOW.








Mayor Democrats: Martin Jeffrey Write In or Sherman Lea

Republican City Council Write In: Jim Garrett

Independents:  Michelle Dykstra, John Garland, Dane Howard

City Council Democrats:  Anita Price, Freeda Cathart, Trish White-Boyd

Monday, April 18, 2016

Landlord and Flipper Asset Protection Via Proper Insurance

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There are a couple ways to protect your assets. One way is by forming LLC’s and or Trusts. Another is with Insurance. A combination of both provides your best possible protection.

This week at REI of Virginia our special guest speaker will be REI sponsor, Tripp Godsey of Farmers Insurance.

Tripp is going to head an in depth, educational conversation, on how to adequately protect your assets with insurance. What type of insurance is best for a flip? How much coverage do you need for your rentals? Is there a certain dollar amount of liability coverage that you should carry? Do you top that liability off with a 1 to 3 million dollar umbrella policy? How much coverage is enough to protect you from most lawsuits? Should you have an umbrella that covers personal liability or business liability or both?

Lots of questions…

We will also have a discussion about our local issues. Roanoke city has a lot of inexpensive massive homes. What’s the best way to insure them? You may have only paid 40K or less for the house. It’s tax assessed value may be 60K. Surely it wouldn’t be cost effective to insure one of these 3,500 square foot houses with full rebuild value.

Your objective in a total loss of one of these houses would probably be to replace it with another rather than rebuild it. You would also need some money to remove the burnt remains and get the lot back to grass to make the code enforcement department happy. That will cost you roughly 10K. If you bought full rebuild value insurance on a property of that scale your insurance premium would be though the roof and your rent wouldn’t justify the cost.

When dealing with a reputable company like Farmers or their subsidiary Foremost, how will Actual Cash Value insurance be handled? In the case of a total loss will you likely walk away with the full amount you have it insured for or only a portion of it?

More questions…

On your rentals, if you require your tenant to carry renters insurance or pet insurance to cover their dog, should you as the landlord also require them to add you as an additional insured? And if you do that and they end up making a claim, will that claim attach to your social security number or tax ID number and make your insurance premiums go up?

Lots of insurance questions this week guys and gals. Come on out as it’s going to be a highly educational meeting.

We’ll see you there!

Mr. Landlord 2016 Annual National Landlord Convention

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REI Members,

I would like to invite you to Mr. Landlord’s 2016 National Landlord Convention. This year it will be held in St. Louis Missouri along the Mississippi River.

Last year 6 of our REI of Virginia members attended the convention. I was one of the attendees and I can tell you that I learned a lot. It was a tremendous benefit to my company. There were several things that I implemented in my business as a result of the seminar.

If you are interested in going on this highly educational, tax deductible vacation, please send me an email and I’ll give you the details on our discounted rates. I can assure you that you will get your moneys worth of information as the seminar goes from morning to evening every day. We had a great time and went to some fantastic restaurants with landlords that we met every day after the seminar.

This is the Mr. Landlord announcement of the convention:
https://landlordconvention.wordpress.com/

This is a list of the speakers and their background information which describes what they will talk about.
https://landlordconvention.wordpress.com/instructors/

Tuesday, April 12, 2016

Do It Yourself Pest Control This Week at REI

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REI Members,

I’m pleased to announce that this week we will have special guest speaker Twoie Knox, owner of B&C Exterminating.

His father, REI member CB Knox, owned a very large regional pest control company called Browns Exterminating. Twoie has pest control in his blood and he knows this business like the back of his hand.

Twoie also knows us real estate investors like to get things done as cheap as possible. So he set up a Do It Yourself Pest Control concept he uses with REI members. A lot of pest control can be done yourself. And our friend Twoie will sell you the professional grade chemicals and tell you how to do it.

However, there are a few infestations from specific pests that are better off left to a professional and there are good reasons why that we will discuss.

Come on out to our meeting this Tuesday. Twoie is going to give us a run down on everything from roaches to termites to bed bugs. He’s going to tell us what to do on each. When you can buy his high grade chemicals and do it yourself and when you need to hire a professional.

Come on out and bring a friend with you. We’ll see you there!

Sunday, April 3, 2016

Colorado Passes Law Through House to Make Faking a Service Animal a Crime

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Colorado just passed a law through their house that will make it a crime for a person to fake that their pet is a service animal.

Since the service animals laws have passed, we have a widespread problem of people pulling service animal scams to get on over on hotels, landlords, etc. They do this to duck and dodge your insurance company requirements and avoid pet fees. If their Pit Bull service animal hurts someone than you are on the hook since your insurance company already made it clear that they don't cover certain breeds.  And if you don't rent to them you have some very serious discrimination charges you could face. Yes, that is even if you don't accept pets due to wanting to keep the apartment in good condition, you still have to rent to them.

The basis of our problem locally is people contacting their doctor to get them to write a fake prescription that they need a pet for emotional support.  If they have ever been diagnosed with stress like we all have they are a perfect candidate. The doctors are not understanding the ramifications of what they are doing. Initially it seems to them to be an innocent issue and in order to keep their customers happy they are writing away. Even writing prescriptions for service animals when the animal the person has has been through no sort of actual training to ensure it is qualified for the particular ailment.

Read more about what Colorado is doing here:
http://www.brushnewstribune.com/ci_29706768/bill-criminalize-fake-service-animals-passes-colorado-house



GREAT R.E.I. WHOLESALE INVESTMENT OPPORTUNITY

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GREAT R.E.I. WHOLESALE INVESTMENT OPPORTUNITY

This is a great wholesale R/E offering for prime commercial retail property on Main St. in Downtown Buchanan.
This historic property is available as four separate sections from 6000 sq. ft., or, as one 22,000* sq. ft. building.
Ideal location for Antique/Artisan Mall, Flea Market, Entertainment Business, or for any retail business.
Prices From range $149,900. For Single Buildings to $599,900. For all Buildings

See Complete Details at: www.glowarama.com

R.E.I. Wholesale Valuation Calculation:

Via  65% valuation method >> $987, 243.
[Based on Local Comps This Property Is 50%+ Below Value]

OR, Via  50X rental method >>>> $1,220,000.
[Based on an Antique/Artisan Mall Operation Rental Projections May Be $24,400. Per Month]

Actual Calculations Available Upon request

Owner Illness Forces Immediate Sale at Only $599,900.*
[Purchase includes Glow-A-Rama Blacklight Entertainment Complex FREE, and is the very best dollars per square foot investment value in S.W. Virginia]

R.E.I may purchase this entire property to resell on an individual building basis;
work with existing owner on structuring specific retail enterprises;
OR, participate in a unique concept of mixing entertainment venue activities with varied retail operations.
[The 74 year old owner has 40 years’ experience as an International Business Consultant and remains available to assist purchaser with enterprise development]

Note: Owner has a comprehensive development plan available if purchaser elects to create a much needed Antique/Artisan Mall business

Contact:
Kenneth A. Bray
540-591-9021
brayk@glowarama.com

Thursday, March 31, 2016

Greater Roanoke Real Estate Industry Predictions

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Real Estate Investors of Virginia has another awesome meeting lined up for you. Our special guest speaker will be REI member and President of the Roanoke Valley Association of Realtors, Donna Harris.

Donna is going to do a presentation on a 10 year analysis of real estate in the valley. We will look at past and present conditions to collectively make determinations on what we see for the future.

What’s happening in the real estate industry in Roanoke? Are we going up or are we going down? You can’t effectively manage your money unless you know what the future holds for you. Those who closely monitor the industry and determine what is going to happen before it happens become very wealthy over time.

Millionaires are made in times of boom and bust. At the same time those who aren’t watching often lose tremendous amounts of wealth.

When times are good and real estate is expected to rapidly incline in value, landlords stop buying. Properties get too expensive to buy. They no longer cash flow in these times. Smart investors switch to flipping properties during booms. If the real estate industry is stagnant or going down the strategy is to buy and hold which is, for those who don’t know, to be a landlord.

Since the big crash in 2008, landlording has been absolutely incredible. Locally in Roanoke we have not had a good flipping economy. Some towns in the country have but that has primarily happened in tourist areas like Las Vegas or other areas that had very strong job growth such as Houston Texas or the oil gas areas of North Dakota.

Locally rents have been going up for a long time now and we’ve had a great ride. How much longer can it go? We are on the edge of another big recession right now. One that is expected by several economists to be a Great Depression type event. A recession happens on average every 6-8 years. We’re past that so it’s due.

Lets put our minds together this week and lay out a good guesstimation of where we are headed so we can have our money invested in the right areas.

Come on down, don’t miss this meeting. All are welcome. Fill your mind with good productive information that will personally benefit you. Come socialize with a group of friendly like minded people every Tuesday evening at Real Estate Investors of Virginia, 6:30 pm to 8:00 pm at Corned Beef & Co, Downtown Roanoke City.

Monday, March 28, 2016

Honorary Member of REI of Virginia Passed Away

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Dear REI of Virginia members,

I’m sorry to break the bad news but I have been getting reports from people that our honorary member, landlord Frank Roupas has passed away. There is no official report but I have heard through the grapevine that Oakeys has him. I’ve checked their website but they don’t have an obituary listed. From what I understand he wanted to keep things low profile. We love Frank and it’s important that other landlords know.  I hope these are rumors that are wrong but I suspect they aren’t.

I have had several members tell me over the past couple months that Frank hasn’t been available for their calls. I then noticed that I didn’t see him sitting at zoning court. Frank loved to go to watch zoning court. It was one of the entertaining things that he never missed.

I called Frank a week ago. Left him voicemails on both of his phones saying I was concerned about his health as people are saying he isn’t answering the phone. Frank called me back and left a voicemail the next day that he has been dealing with a terrible back injury but he is now getting a lot better, that he’s feeling good, and will be back on his feet soon. It appears that Frank didn’t make it back on his feet.

I know a lot of you knew Frank. Everyone in the real estate industry ends up eventually meeting Frank. He was a real character. Frank had some great stories. And he told them with so much enthusiasm.

I sure hope these rumors aren’t true, but I’m pretty sure they are. The Roanoke Times is researching the coroner records via a freedom of information act as you read this. Sammy Oakey of Oakey’s Funeral home put out a tweet this past Friday that a “Well known citizen died overnight. His Pre-need instructions were to NOT put any notice in the newspaper and NOT tell anyone.”

I have called Frank several times over the last couple of days. On all of his phone numbers. Frank always calls me back. Always.

My heart goes out to Frank. He is a well respected landlord in our industry. He’s going to be missed by many…

Thursday, March 24, 2016

We Have Money To Fund Your Real Estate Flips & Rentals

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Ladies and Gentlemen,

Wow… what a great meeting we had last week! We were a little worried about it as you never know on a new location how many will show up. It was a tremendous success. It’s been a long time since we were drawing 70 people to a weekly meeting. No real estate investment association in the state can do that. The big ones are lucky if they can get 50 to 60 at a monthly meeting. So congrats to Real Estate Investors of Virginia for that!

REI of Va is making sure that your deals are fully funded.

We’ve got another great meeting lined up for you. When the topic is about money we always pull in big crowds.

This week our special guest speaker will be a guy by the name of Jim Preuss. Jim is head of business development for Lima One Capital.

As you may know, there are a few ways to get funding for your real estate venture.

1. You can go to a regular bank such as the Bank of Botetourt. Banks expect that you have good credit. In return they will give you a loan with a very favorable interest rate.

2. The other way that you are limited to if you are having difficulties getting financing from the bank is to use a “hard money lender”. That is if you don’t already know a wealthy person who’s willing to be your personal private money bank.

We selected Lima One Capital to come talk to us because they have some very interesting packages. One thing is their rates are unbelievably low for a hard money lender. Typically you are looking at 12 to 15 percent interest with 5 points down on hard money. Lima One’s loans look more in the range of private money which is higher than a bank but quite a bit lower than normal hard money.

Lima One has a program called Fix 2 Rent where they will give you money to buy the deal and money to rehab it. Then once it’s finished they can roll it into a different loan they call the Rental 30.

They have you flippers and wholesalers covered as well. They have a FixNFlip program that gives you money to purchase and fix up a property. They have money for people who want to build a house on a lot they own. They have money for people who already own property and want to cash out and get some funds for another deal they find or something else. They even have money called transactional funding that wholesalers use to do double closings.

As with the last meeting, if you have plans…. cancel them. Make REI of Virginia every Tuesday as a meeting you will never miss. Your rest of your life revolves around wether you have an REI meeting or not.

The keys to unlocking success in your life require jumping in real estate investing with both feet. Surround yourself with other successful like minded people. Don’t let anyone tell you that you can’t do it. Your mind once a week directed towards bettering yourself will lead to your success. It has for me and I can promise you it will for you.

I have been excited about my career and life in general ever since I was able to see my path to success. That’s why you see me get wound up from time to time. I am super enthusiastic about what I do. I live and breathe real estate and have a lot of fun doing it. I consider myself lucky to know and be good friends with so many successful people.

Come on out this Tuesday to Corned Beef & Co, Downtown Roanoke City. The address is 107 S Jefferson St, Roanoke, VA 24011.  I suggest you leave early to make sure you get parking if you are planning on getting a free spot on the street. The parking garage called Car Park is only $2.50 on the roof top after 5pm.

Be there or be square!

Tuesday, March 15, 2016

Wealth Seminar: How to Comfortably Make A Million Dollars in Net Worth In 5 to 10 Years in the Real Estate Industry

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Where:

This will be the first meeting at our new trial location. We have outgrown our last location and will be moving to somewhere that will fit more people. Jersey Lilly’s was great to us. However they don’t have the room to fit our rapidly growing group. We will be meeting at Corned Beef and Co, Downtown Roanoke City. The address is 107 S Jefferson St, Roanoke, VA 24011.  I suggest you leave early to make sure you get parking if you are planning on getting a free spot on the street. I have been told that the parking garage called Car Park is only $2.50 on the roof top after 5pm.

When:
This meeting will be Tuesday March 22nd 2016. We meet every Tuesday evening. Our meetings start at 6:30pm and last until 8:00pm. If you are new to investing I always suggest getting there early and leaving late. We hang around and talk and these times are great to get to know other investors and get your questions answered.  We're all nice like minded people so no worries.

Who:
I am pleased to announce, the guest speaker at this meeting will be me. I am talking about a topic that will benefit both beginner as well as advanced level real estate investors. 

What Will You Learn?
  • Locally which is more profitable, flipping or landlording and why?
  • What are the most common causes in failure so you know what to do to stay away from them?
  • I will give you a roadmap, that if followed as stated, I can guarantee your success.
    Why “buying right” is the number 1 most important thing to do which gives you all of the exit strategies you need. 
  • Exactly how much do you pay for a property to guarantee a win?
  • National rules of thumb on how much cash flow a property should spin off on a monthly basis. 
  • Where is the break even point on property where you will make no cash flow but will still be able to pay off a bank note? It’s important to know and understand your limitations so you won’t be taken out by a bum deal you fall in love with. 
  • How much money do you need to have into a property to be able to retire from your job within 5 years and become a full time investor?
  • Various strategies used to get your start as a real estate investor depending on how much money you have to start with. We will discuss all starting points, with no money, with a little money and with a pocket full of money. 
  • How to jump right into real estate while you fix your credit. 
  • We will go through a cash flow analysis that you should do on each and every property you have so you aren’t flying by the seat of your pants. This is useful for beginners and experienced investors alike. I have used this formula on landlords businesses that are going under to help them identify which properties they have that are losers which are sucking down their company. Correctly identified you know which ones to sell to make the company profitable again. Once you understand this you will be able to diagnose the health of any real estate venture and will learn the skills to turn one that is failing back around into a profitable business. This knowledge allows you to take over failing ventures. 
  • The different places you find wholesale and below wholesale deals.
  • High pressure (that seem like low pressure) closing techniques that work. 
  • Why attending your local Real Estate Investors of Virginia meetings will get you on track and keep you going in the right direction towards a future that few people get to experience in their lifetimes. 
  • Taking it to the next level. Once you have your bearings, how to partner with me to move into the next stratosphere. 
  • If you can grasp the simple concepts and mathematical formulas Im going to teach you, you will be adequately prepared from this seminar to make any income you choose based on your desire to succeed. You can do this individually or with me as a business partner. I suggest you bring a note pad and pen as this class will be very informative.The average person only retains a small portion of what they hear and I’m not just giving out rabbit food here. You will be taught the meat and potatoes of the business. I will be giving you the keys to success. It will be up to you what you do with them. 
The first month for all new members is free. After that it's only $100 dollars for a year of real estate education. $100 that could turn you into a very wealthy individual if you listen and have some hustle in you. None of us who operate the group are paid. We are all volunteers. Dues money goes towards operating the group.

Come on out to our weekly shindig and have some educational fun with some great like minded individuals. Our meetings are always real laid back. Dress as you normally do. Jeans and a t-shirt is fine.

We'll see you there!

P.S. -  Click this link to sign up for our email list. Once you sign up you will be sent an email asking you to confirm. When confirmed you will get our emails every week telling you what the next weeks meeting topic is. If this link doesn't work for any reason we also have a link to it at the top right side under the pay to be a member link.
http://dm-mailinglist.com/subscribe?f=43d51516

Why Use A Process Server???

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Paul Yengst Areas Served
This meeting will be at Jersey Lilly's in Salem VA across from Lewis Gale Hospital.

This week our special guest speaker will be process server, Paul Yengst. We will be talking about the process of serving people that you are suing.

If you file a Warrant in Debt or an Unlawful Detainer against a tenant than you by law have to have them served with a notice of the upcoming court date. If you are in the courthouse and give the Clerk the court papers without having a process server written on them, than they will automatically give you the Sheriff to serve it.

Reasons NOT to have the Sheriffs office serve the papers but rather use a Process Server:

1. When papers are served through the sheriffs office it will be brought by a deputy. Who could be highly inexperienced.  Those who have a lot of papers served have found that they locally more often come back “unfound” when served by a deputy rather than a process server. When papers get returned to the court unfound the court case is dismissed if you can’t give a new address right away for it to be submitted to. The law does not require last known address as many people think regarding where papers are served. It should but it doesn’t. And if those papers aren’t served than you have no lawsuit.

2. It costs 12 dollars PER PERSON that you are suing for the deputy to serve them. All cases you should have at least 2 people. One would be the person who is living there. The other is “Any And All Other Occupants.” The reason for this is if the tenant moved in a friend or anyone else, when it comes time for the Writ of Possession to have the deputy meet you there to put the people out, if you are only kicking out that one person and there are other people living there not on the lease, the deputy will not put them out. This means you have to do it all over again and sue them to get them out. I have made this mistake once. Once you get bit by it you will never mess up again. I can assure you of that.

Regarding the price, Paul charges 11 dollars for NO MATTER HOW MANY PEOPLE are listed on the court papers. This is very helpful considering the games the deputies sometimes like to play and their refusal to put out anyone you don’t have listed on the eviction. Even though they are criminally trespassing as they aren’t listed on the lease.

We cleared this issue regarding trespassing up with the Police Chief years ago but it’s still practically impossible to get the police to follow the law and arrest anyone in the house not on the lease even though the Chief and City Attorney looked at the laws and agreed with REI’s position on the issue. Anyone in a property of yours that is not on the lease and not invited to stay there by you is a trespasser. The law is clear.

So, I’m going to bet that you don’t know EVERYTHING about properly filling out court papers and the process of serving them. Come on out it will be a fun meeting!

Check Out Paul's webpage here:
http://www.yengst.com/

Landlords Responsible For Tenants Bills & Renting To Illegals

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As always we try to keep our members up to date with the issues that pertain to our industry. Here are a couple interesting articles that were sent to me by members this week that you should look over.

1. The Water Company in Tennessee has been attacking landlords. Apparently there was some old language allowing them to do so. Just like Virginia. They are now fighting it in their General Assembly to prevent the towns from charging a disinterested third party landlord. They don’t think it’s fair to force a private company (landlord) to help the government entity (water company) by paying off debts of another. By the looks of the article they are pretty optimistic that the landlords are going to win.

http://www.timesfreepress.com/news/politics/state/story/2016/mar/14/state-bill-seeks-exclude-3rd-party-property-o/355087/

2. Virginia Landlord starts the eviction process to remove 15 residents that can’t produce a social security number for identification as they are illegally in the country. Legal Aid sues and appears to be digging deep as they are trying to use the premise that the landlord didn’t previously require the social security number rather than strictly use the argument that they have to accept another form of government ID.

https://www.washingtonpost.com/local/virginia-news/without-social-security-numbers-illegal-immigrants-face-eviction/2016/02/10/2fcd64c2-ca9d-11e5-a7b2-5a2f824b02c9_story.html

Monday, February 22, 2016

Tax Free Exchanges This Week At REI

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The last meeting we had Robert Young speak at he had a few other filler topics that he started out with. Those filler topics ended up being interesting conversation which resulted in us not getting into the details of tax free exchanges so we will be doing that this meeting.

Most of us who have been involved with real estate for a while have heard of the 1031 Exchange. But most investors I know haven’t taken advantage of it. Effectively using this tax strategy allows you to exchange one regular or vacation rental property for another rental property without having to pay capital gains at the time of the exchange.

House for house, equipment for equipment, truck for truck…. There are several different types of Like Kind Tax Free Exchanges other than the 1031 Exchange.

This week we’re going to have our good friend Robert Young who has done MANY of these tax free exchanges. Robert knows the ins and outs of these exchanges better than anyone I know.

Come on out and learn about this tax strategy that can be used to make a lot of money over the years due to being able to kick the can down the road on the date you have to end up paying these taxes.

Tuesday, February 16, 2016

Real Investors Know How To Protect Their Assets

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Hello Fellow Real Estate Entrepreneurs,

We will be having an enlightening meeting this week with special guest speaker, Mike Pendleton (in the photo on the left) of the company Edward Jones. Mike is coming out to our group to teach us the benefits of holding your property in a trust.

Expert investors know and understand how to protect their assets from dirty thieves who want to strip you of everything you have worked for which can include anyone from tenants to local, state and even the federal government. Our culture has changed for the bad and we currently live in a litigious society.  The good old days where you could trust people are long gone.

Here are some of the benefits of holding your assets in a trust that we will talk about with Mike if you ask the right questions.

1. Trusts allow you to maintain your privacy as your property will be listed online as being owned by the trust. If you have several trusts it prevents people from looking up to see how much you own to see if you are worth a good lawsuit or two while trying to strip you of your assets.

2. Protection from claims against you personally. The city likes to jump to suing a landlord at any opportunity they can. Often they won’t wait for long after sending you a notice before putting you in court. If your property is in a trust or an LLC than they have to take that trust or LLC to court. Not you. They will call you in to come to represent the trust or LLC if you are the registered agent or trustee of the trust. However any charges that there may be will go against the trust or LLC, not against you personally.

If they attack you personally as a result of the property being in your personal name, and you don’t immediately pay them, the State will suspend your drivers license. That only happens to people who own property in their name.

3. You are protected form liens. If a tenant or anyone else wants to sue for some reason pertaining to that asset, management of that asset, etc, they have to sue the trust or LLC itself that they were doing business with. If there are any liens or judgments against the property they are against the property itself. It does not transfer over to being against you personally. As long as you didn’t break the law. I’t also works the other way around. If you get liens against yourself for something, it can not transfer over to a lien on the property. UNLESS that property is in your name. In that case the lien on you will become a lien on the property.

4. There is also a future limitation to title claims. If down the road someone wants to sue who signed the warrantee deed on the property. If it was the trust or LLC that signed for the property, they will have to sue that trust or LLC. However lets say that that trust or LLC already resold the property and it has no assets in it’s name. Any lien on a trust or LLC that has no assets is a useless lien that will never be collected.

5. Prevention of HOA’s from going after you personally if you title the property in a trust or LLC. This limits them to the property as being the sole recourse for home owners association debts.

6. Trusts make contracts assignable.  HUDs and REO’s often have requirements that you can not assign your contract. If you buy it in a trust you can assign the beneficiary of that trust to the person you are selling the property to which gets around all kinds of seasoning issues as well as the prevention of wholesalers wholesaling property off the MLS.

7. Trusts can make non assumable loans, assumable. Investors I know will have the seller of a property put it in a trust. From what I understand the law requires banks to allow a person to put their property in a trust that’s owned by them for their own personal protection or probate planning purposes. Then I see they assign the beneficiary of that trust to the buyer.

These little weasely things aren’t something I have ever done as they are more often used by people with credit problems etc who are trying to purchase property. But they are little tricks I have been told over the years by high level hustlers. I personally know people that have millions of dollars worth of judgements against them and they continue to do business by using trusts.

8. Trusts are excellent for avoiding probate court when you or your family members die. There is no reason for probate to decide who owns what when one person passes away because they are already listed as beneficiaries of the trust. That has already been decided. And you can maintain full control of that trust for the rest of your life until you die. There are some tax benefits here as well that I’m sure that Mike will talk to us about.

This was just a small handful of the benefits of owning property in a trust or LLC.  That’s just what was off the top of my head. There are many benefits you get from Trusts that you don’t get from LLC’s and vice versa.

Come on out and get your Masters Degree in Real Estate Investing by signing up with REI.

Guys and gals. This is real educational entertainment that REI provides you. It isn’t easy putting on this weekly show. And the dues money we ask for is super cheap considering the value that you get. The value of your investing education. We also strive to not only make you money but save you money.

If you use REI as a network to connect with other investors like I do you will have super discounted wholesale houses whenever you need one, you will save thousands of dollars every year from tips and tricks that you will learn, and you will become wealthy through osmosis. If you surround yourself with successful people on a regular basis and you keep your mind on investing, in no time you will end up also becoming professionally successful. Trust me that’s the way it works. I can’t tell you how, I can just tell you it does. It happened that way with me and I have seen it happen that way with many people I have taught over the years.

REI is what you make of it. If you take the advice you get and implement it, you will become very wealthy.

No one in our group gets paid anything. We are all volunteers. And we do need your help in continuing to operate this group. It does cost money to keep it going and we are trying to save up some money for a nice little legal fund to help members out if needed, to use for a direct mail campaign to tell more landlords in our area about our group, to lobby in Richmond to make laws more investor and landlord friendly, and to hopefully one day make enough to be able to pay someone to operate the group as this group would dissolve immediately if we got tired of it and decided we didn’t feel like putting the free work in anymore.

So do us, and you, a favor. Click the link below and pay the yearly dues. It’s only 100 bucks. Thats not much to ask considering the value you get. It’s a lot cheaper than most REI groups across the country. And we do need it.

REI Dues Paypal Link
 

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