Saturday, October 15, 2016

Wealth Building & Keeping Strategies At REI of Virginia.

Meeting 1: Using an IRA to Purchase Real Estate

A lot of people don’t realize that you can use a retirement account such as an IRA to purchase your own real estate investments. For years there was a rumor going around nationwide that you had to loan that money to someone else in order to make it a qualified real estate investment. That’s simply not true.

This week we are going to have an expert we will do a video conference with who will cover some of the details of this investment strategy.

I’ll be in Houston for the next couple weeks and am unsure as to wether or not I will be able to control my computer in the office with my iPad. Using a VNC to connect seems to work sometimes and not work at other times. So here is a little info on next weeks topic in case I can’t.

Meeting 2: End of Life Asset Protection & Wealth Transitioning

Our guest speaker will be our good friend Private Wealth Management specialist, Andy Ingram. Andy plans to bring his friend, Attorney Brandon Nester, with him. Brandon and his partner took over Judge Clemons practice when he received his judgeship. They will jointly present on end of life asset protection and wealth transitioning. I can’t think of anything more important to be up to date on than making sure that the government doesn’t get it’s greedy hands on your assets when you pass away.

A couple great meetings I wish I could be there for. Have fun!

Tuesday, October 11, 2016

The Most Important Things To Know About Being A Landlord

This Tuesday’s meeting will be a group discussion on The Most Important Things To Know About Being A Landlord. If you are new to real estate, you do not want to miss this meeting!

We will go over the important factors relating to real estate investing:

* Knowing the rules of the game.
* Protecting your ASSets.
* Building your systems.
* Raising capital.
* And Much More!.

These are always great meetings for members, as we share valuable knowledge to each other; while picking up gold nuggets to use in our daily business.

See you there!

Monday, October 3, 2016

“They” think “Your” Constitution Sucks!

Federal Lawsuit in California Alleging The City Is Forcing Rental Property Owners And Tenants Both To Volunteer For Searches And Inspections - Or Face Penalties - Just Like Roanoke City…!

To update you on Virginia Law… The politicians put in place inspection warrants to keep it legal and prevent the government from breaking the 4th Amendment. The 4th Amendment does not allow any government official to search your property without your approval unless they have a warrant. That goes for all government officials, from the tax man to police to code enforcers.

Virginia Code:
36-105 C3 -  Virginia Maintenance Code
3. Inspection warrants. If the local building department receives a complaint that a violation of the Building Code exists that is an immediate and imminent threat to the health or safety of the owner, tenant, or occupants of any building or structure, or the owner, occupant, or tenant of any nearby building or structure, and the owner, occupant, OR tenant of the building or structure that is the subject of the complaint has refused to allow the local building official or his agent to have access to the subject building or structure, the local building official or his agent may make an affidavit under oath before a magistrate or a court of competent jurisdiction and request that the magistrate or court grant the local building official or his agent an inspection warrant to enable the building official or his agent to enter the subject building or structure for the purpose of determining whether violations of the Building Code exist. After issuing a warrant under this section, the magistrate or judge shall file the affidavit in the manner prescribed by § 19.2-54. After executing the warrant, the local building official or his agents shall return the warrant to the clerk of the circuit court of the city or county wherein the inspection was made. The local building official or his agent shall make a reasonable effort to obtain consent from the owner, occupant, or tenant of the subject building or structure prior to seeking the issuance of an inspection warrant under this section.

Legal Disclaimer Time: I’m not a lawyer.
2nd Legal Disclaimer: But I can read.

So it says if the building department gets a complaint (from a tenant) that a violation exists and is both an immediate and imminent threat to the health and safety of that tenant, and any of the three the owner or occupant or tenant doesn’t let them in, the code enforcement officer can go to the magistrate and get an inspection warrant.

I think we all know what the word immediate and imminent means. As well as it’s referring to any of the above, owner, occupant or tenant. I had to read it a few times, but after doing so, the intent of the law is clear.

So a code official is required by law to get an inspection warrant in the case of the owner, being one of the 3, giving a trespassing notice to the code enforcement official, or even verbally notifying them that the said owner does not want them there unless they are there.

Random Real Estate Investing Topics This Week At REI

Hello everyone,

This week the special guest speaker will be YOU. Come with your questions and comments. We’re having an open discussion. The topic this week will be about whatever we end up talking about.

Newbies this is a good time to get your newbie questions answered so bring them with you. Wholesalers, want to know how to ramp up your wholesale business, let us know and we’ll give you ideas on what to do. Experienced investors that want to bounce ideas off other experienced investors, we’re ready for that too.

Come on out, there will be little nuggets of information for everyone. These are the kinds of meetings where you end up learning bits of information that make and save you money. I can think back on several that we’ve had that have made or saved me thousands of dollars over the years.

We’ll see you there!

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