September 2016
In September
o CREIA Monthly Meeting – Sept. 12, 5:30 p.m.
networking, 6:30 p.m. meeting, Hilton Biltmore
Park, 43 Town Square Blvd., Asheville, 28803.
o Advanced Investors Group – Sept. 14, 8
a.m. Contact Tex for details, (828) 273-8565,
TexBuysRealEstate@gmail.com.
o New Member Orientation – Sept. 14, 6 p.m.,
Standard Pizza Company, 755 Biltmore Ave.,
Asheville, 28803. Contact Bob for details, (910)
262-8863, rlswanson491@gmail.com.
Private Money Lending Group – Sept. 15, 5
p.m., Keller Williams, 86 Asheland, Ave.,
Asheville, 28801. Contact George for details,
(828) 231-4246, glycan@kw.com.
Intermediate Investors Group – Sept. 21, 6
p.m., Enka-Candler Library, 1404 Sand Hill Rd.,
Candler, 28715. Contact Gary for details, (206)
779-5870, garystamper@yahoo.com.
o Beginners Investors Group – Sept. 22, 6 p.m.,
Denny’s, 1 Regent Park Boulevard, Asheville,
28806. Contact Greg for details, (828) 774-4887,
dreaminglivesinc@yahoo.com.
o Estate Planning Seminar – Sept. 24, 9 a.m.-4
p.m., Hilton Biltmore Park, Asheville,28803.
o Hendersonville Focus Group – Sept. 27, 7
p.m. (dinner at 6), Bay Breeze Restaurant, 1830
Asheville Hwy., Hendersonville, 28791. Contact
Tom for details, (828) 697-6716, tandcboyd@
morrisbb.net.
Overlooked home problem areas – Page 3
Longtime member Walt Plaue dies – Page 4
Public Policy Committee Update – Page 5
New Intermedia Investors Group – Page 6
Flipping houses in your IRA – Page 7
Next Meeting – September 12
Hilton Biltmore Park
43 Town Square Blvd.,
Asheville, NC, 28803
5:30 p.m. - Networking, Hotel Lounge
6:30 p.m. - Meeting Begins
Estate Planning for
Real Estate Investors
It’s up to you to take charge now to ensure you keep the value you’re
creating with your real estate investments
• Estate planning – establish now what’s needed to live today
and for the future
• Self-directed IRAs – make sure to maximize and protect your
real estate investments
• 1031 exchanges – even if you don’t need it today, you must
know this for future deals
September 12 CREIA Main Meeting
Monday, September 12, Hilton Biltmore Park
Mary will give an overview with a few strong takeaways with much more info coming
for those attending the Saturday workshop two weeks later.
Saturday, September 24, 9 a.m. - 4 p.m., Hilton Biltmore Park
Fee: $79 members/$99 non-members. $10 discount for
early registration (by September 12 Meeting). Register at:
More info, registration here.
About Mary: Mary Hart is an attorney and owner
of The Hart Law Group, P.C. in Asheville. Mary has been
practicing law for 25 years and has spent years teaching real
– Continued Page 2
The benefits of pushing
yourself to the limits
By Rodrigo Afanador
CREIA President
And we were off. With my
friend Scott setting the pace,
our challenging bike journey
began, my first century ride,
100 miles in one day. Our decision to ride came just a week before our
departure, so my preparation was minimal.
Little did I know that my mental and physical limits were going to be pushed in a way
they had never been pushed before and
that many lessons would be learned.
The ride started just north of Boone.
After five or six hours, we pulled into the
Linville Falls Visitor Center on the Blue
Ridge Parkway. We were out of water and
wanted to take a breather before tackling
the climb over Mt. Mitchell. Optimism was
high as we had just
completed a small
downhill. For the
next six hours, all
we did was climb –
no downhill, no flat
parts, just steady
never-ending uphill.
– Continued Page 2
Page 2 Online at www.creianc.org
The only way I could keep moving
forward was by listening to music
and matching my cadence to the
music’s beat.
By the time we reached the top, it was just after 11:30 p.m., 14
hours after we had pushed off. We sat on the edge of the road and
ate our last bits of food. Thankfully, the last stretch to the house
was all downhill. About an hour later, we finally pulled into our
driveway. Although an amazing feat had just occurred, the only
thing I wanted to do was to find the floor in my room and lie down,
which I did.
This endeavor was one of the most mentally and physically
challenging I had ever undertaken. I was grossly unprepared for
what was required. However, knowing that my friend Bolte was
estate investors and others how
to accelerate and preserve wealth
through estate planning, asset
protection planning, investing
with self-directed IRAs, private money lending, selling real estate
through a section 1031 tax-deferred exchange and more. Mary
established The Hart Law Group, P.C., in 2006 in Asheville. She
has been voted the #1 attorney in Asheville by Mountain Xpress (a
local independent publication) readers for the last two years. She
is also the owner of Carolina 1031 Exchange, LLC, which serves as
a qualified intermediary and exchange accommodation titleholder
for section 1031 like-kind tax-deferred exchanges.
Mary particularly enjoys empowering others with the knowledge to live a financially successful life and the means to pass
that wealth onto loved ones – which she considers to be the
ultimate love letter! Although Mary enjoys the practice of law,
she knows she can empower more people through education.
Mary believes that financial literacy is missing in the lives of most
Americans as financial education is not generally taught in the
school system. She hopes to help raise awareness of the importance of financial knowledge to the quality of life of all Americans.
Mary is also a North Carolina licensed Realtor and an active
real estate investor, owning several properties in North Carolina
and Kentucky.
Advanced Investors Group
•
•
•
•
•
Discuss challenges, solutions and network with other
seasoned investors
8-10 a.m., second Wednesday of each month
Breakfast meeting/mastermind group format
Open to members who have completed at least 20 deals
Limited each month to the first 20 responding
A Participating Whole Life Insurance Policy
allows individuals and businesses
to take advantage of Living Benefits
in ways that most could never have imagined
Participating Whole Life Insurance
helps allow you to:
4 Protect your Family and Investments through Life Insurance Death Benefits*
4 Shield your Cash and Savings from the Volatility of the Stock Market
4 Have complete Control over the Use & Liquidity of your OWN Money for Real Estate needs
4 Create a Personal Pool of SAFE Resources to Access for Real Estate Needs
4 Develop a Tax Advantaged and Tax Deferred Retirement Program
Call Scott McDonald to learn more!!
Call or email Tex for details, (828) 273-8565
TexBuysRealEstate@gmail.com
Next Meeting, Wednesday September 14, 8 a.m.
September 2016 five, 10, or 30 minutes ahead of me helped keep me pushing
forward.
I find striking similarities between real estate and outdoor
adventure. Preparation, guidance, support, vision and grit are
important in both worlds. Having contact with others who face
similar challenges and are a little ahead of me keeps me hopeful
and focused. Being properly trained makes a huge difference in
how I handle the difficult situations inherent in outdoor adventure
and in real estate. The mental fortitude that comes from pushing
my body to its physical, mental, and emotional limits in different
pursuits has been key for me in real estate. Knowing what I am capable in one area of life has helped me build confidence in others.
The ripple effect cannot be understated.
Pushing myself to the limit physically and mentally is important. Putting myself in challenging situations helps strengthen
my mental resolve and reminds me that we are all capable of
more than we imagine. We need to continue to push the limit of
what we believe is possible for ourselves – not only mentally and
physically, but in all areas of our life. Keeping this perspective is
important as it promotes aggressive growth and allows life to be
full of adventure and growth.
What challenges are you inviting into your life that will help you
grow?
(Rodrigo Afandor is CREIA President. He is the passionate
founder and business owner of Asheville Cash Buyers and a committed community volunteer. Rodrigo has purchased and resold
more than 25 properties in the Asheville, NC area and enjoys the
challenge that comes with resolving complex financial situations
for his clients.)
(828) 713-6257
*Access to cash values through borrowing or partial surrenders will reduce the
policy’s cash value and death benefit.
©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Online at www.creianc.org Page 3
Three home problem
areas often overlooked
By Mary Palermo
Rainbow International of Asheville
If you have fire, smoke, or water damage, you probably know it
right away. Rainbow provides expert services for these cleanups
24/7 in emergencies.
But three other areas can lead to problems you may not know
you have – or maybe think aren’t that important.
Carpet, other flooring, and upholstery: When was the last
time you had your carpet, area rugs or upholstery cleaned? Years?
Never? Do you have pets, children, or visitors? Food and drink
spills may not have been cleaned up adequately. And there may
be unknowns. Carpets and upholstery can hold a lot of allergens.
Skin cells and dust mites can be issues. They can be a source of
microbial growth.
Do you have tile flooring in your bathrooms, kitchen, or other
rooms? If so, you have tile grout. Grout is notorious for growing
mold. Not all mold is black and noticeable.
Indoor air: Every home has indoor air – that really goes without
saying. But how is the quality of that air? You are breathing whatever is in it besides the usual gases. Do you smell anything different or strange when you come into your home after being gone for
a while? Do you ever think to check for odors in your home when
you enter? Most of us are so busy we’re preoccupied with just getting in and getting something done. If you have ventilation, when
did you last check your air ducts? Even though you have air filters
on your return vents, some antigens may still form in your ducts.
Crawl space: When was the last time you looked in the crawl
space under your home? These spaces can present many problems. Do you have adequate insulation to reduce your heating and
cooling costs? Undesirable animals may take up residence, maybe
using some of the insulation you have to make their own bedding.
These animals may die there. Trash can accumulate over time and
become a hazard. It can be damp there, possibly leading to odors
and mold.
(To learn more about how Rainbow International Restoration of
Asheville can help with fire and water damage, mold, clearning and
deodorizing and a host of other problems, visit rainbowintl.com/
asheville.)
Beginners Focus Group
•
•
Meets last Thursday of tbe month from 6-8 p.m. at
Denny’s, 1 Regent Park Blvd, Asheville, 28806
Integrates CASHFLOW 101 game in learning financial basics
and features presentations from experienced investors in
helping its members get their first (or second) deal done.
Call or email Greg for details, (828) 774-4887
dreaminglivesinc@yahoo.com
Next Meeting, Thursday September 22, 6 p.m.
We Understand
Real Estate
Investing
We Understand
Real Estate
Investing
Our team started personally investing in the Asheville
real estate market in 2004.
Our team started personally investing in the Asheville
real estate market in 2004.
WNCREPS@gmail.com
We will help you:
3 Run the numbers
3 Create exit strategies
3 Provide recommendations for cost effective
improvements
3 Make financially sound offers
3 List your property
828-669-8159
We gather the facts to assess the Real Estate Solution
and execute the selected course of action chosen by our Client.
We will help you:
3 Run the numbers
3 Create exit strategies
Turn
your
liabilities into
assets
3 Provide
recommendations
for cost
effective
Do
you have property that seems complicated?
improvements
3Are
you financially
looking at a sound
propertyoffers
you know has value and Make
you can’t quite define or detail it?
3 List your property
Would you like some creative advice to move forward in your business plan?
Contact us today.
Contact us today.
Mary Love
Love The Green Team Leader
828-279-6723
marylovethegreen@gmail.com
www.lovethegreen.org
September 2016 We have +15 years experience in creating the next steps
in real estate investing.
Mary Love
If you are “stalled out” in
your planning
department
Love
The Green
Team
because of perceived “complexities,” call us.
Leader
828-279-6723
One free half-hour consultation
may be the answer.
marylovethegreen@gmail.com
And we can manage your next steps if you choose.
www.lovethegreen.org
©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Page 4 Online at www.creianc.org
Lessons Learned in Renovating and Restoring Distressed
Properties will be presented by Judi and Steve Levinson. Their
real etate investment careers began in South Florida and grew
to 400 rental apartments along with commercial buildings and
two hotels. Moving to Hendersonville in 2008 with plans to
retire, they couldn’t resist returning to investing in single-family home foreclosures, subdivision and building lot development, and commercial property. They will share their lessons
learned including: how to evaluate and deal with different
investing conditions/markets/geographic areas, legal issues,
self-management versus contracted property management
and single-family rehabbing. Come learn from two creative
investors/entrepreneurs.
Meets the last Tuesday of the month
Bay Breeze Restaurant
1830 Asheville Highway, Hendersonville, NC 28791
Dinner & Networking - 6 p.m. Meeting - 7 p.m.
Questions: Tom Boyd - 828-697-6716
tandcboyd@morrisbb.net
Next Meeting, Tuesday, September 27, 6 p.m.
September 2016 Longtime CREIA
member Walt Plaue dies
Our longtime member Walt Plaue has
passed away.
Walt was born and went to high school in
New York. He went on to attend West Point
and was commissioned an officer in the U.S.
Army, where he had a long and productive
career. Returning to civilian life in 1978, he
became a certified financial planner.
Walt and his wife Patsy moved to
Asheville in 1990 and he worked hard in a number of service
projects with quite a number of different charities in the local
area. He also became a real estate investor and hooked up with
CREIA.
In Walt’s time with CREIA, he served on a number of committees. His participation in the Public Policy Committee and working with city and county governments helped keep members
aware of rules and regulations and how they affected CREIA’s
membership.
Walt was an active investor - always looking for an investment that would be productive for him and his family. He
attended meetings faithfully and was always involved in the
discussions. He will be missed.
©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Online at www.creianc.org Page 5
Public Policy Committee:
Update on meetings,
volunteer opportunities
By Art Meyers
Pubic Policy Committee Chair
The next meeting of the Asheville City Council begins at 5 p.m.,
September 6, in council chambers on the second floor of City Hall.
Meetings of the council on the second and fourth Thursdays
of each month are televised live on the Asheville City Channel and
also on Charter channel 193 and U-Verse channel 99.
There are YouTube archives of city council meetings and other
meetings and workshops, such as the Small Scale Residential Infill
Workshop available at youtube.com/user/cityofAsheville.
The YouTube archives are an awesome source of public policy
information the April 7, 2016, public meeting on the draft formbased code for the River Arts District. There are also links to short
instructional videos (what form-based code means for instance).
Information on other meeting dates and times is available from
the meetings and community events link of the city website at
ashevillenc.gov. The search feature on the city’s site is also an
invaluable resource. A search for Asheville city plans, for instance,
yields results that include the Asheville 2025 Plan, Affordable
Housing Plan, Downtown Master Plan, Ten Year Plan to End Home-
September 2016 lessness and many others.
For those of you who would like a voice in the city’s growth and
future, there are presently openings on three city committees: the
Affordable Housing Advisory Committee, Tourism Development
Authority and Recreation Board. For further information on these
openings and future openings, visit the city’s website and select
Boards and Committees under the government tab. Deadline to
apply for these openings is 7 p.m. September 7. To apply, contact
the city clerk’s office at 259-5601.
Volunteer opportunities with the city of Asheville are also available. Volunteering helps individuals make connections and better
keep in touch with what’s going on in the city. Opportunities are
available to fit most any schedule and range from a one-time service projects lasting a half day to longer range commitments that
might require several hours each week. There’s also a process to
work with citizens to identify new and innovative volunteer projects, so if you have an interest or special talent to share, contact,
Marsha Stickford, volunteer coordinator, at 259-5506.
Be sure to wear your CREIA nametag at these events to let
everyone know who you are and spur interest and conversations
about our organization. Please participate and remember that the
world is run by those who show up.
If you don’t build your dream, someone
else will hire you to help them build theirs.
– Dhirubhai Ambani
©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Page 6 Online at www.creianc.org
CREIA Intermediate
Investors Group
Now Meeting Monthly!
By Gary Stamper
We had a great first meeting!
The second meeting of the newly-formed CREIA Intermediate Investors Group will be held at the Enka-Candler Library,
just down the street from A-B Tech’s Enka Campus, on
Wednesday September 21, from 6 p.m. to 8 p.m.
Created by attendees of the CREIA Mastermind Group,
the Intermediate Investors Group was formed to fill the void
between existing Beginner’s and Advanced Groups. Those
wishing to attend should have a few deals under their belt and
a desire to help others and themselves to greater success.
Space is limited, so the meetings will likely be held to the
first 20 people who reserve spots. Come and ensure your
place in the CREIA Investor’s Hall of Fame or just learn how to
be a better investor.
For more information, call or email me at 206-779-5870,
garystamper@yahoo.com.
The library is located at 1404 Sand Hill Rd., Candler, NC
28715
Connect To Opportunities
CRIEA’s success depends on volunteers. Connecting to opportunities will open doors for you and
fast track building your real estate business.
Education Committee:
• Seminars & Workshops
• General meeting programing topics
• Event speakers
Marketing Committee:
• Social Media
• Website
• Newsletter
• Corporate & Affiliate Sponsors
Membership Committee:
• Member retention
• Welcome new members
• General meeting
• Meetup.com responder to new visitors
• Member benefits program expansion
And many more
opportunities!
Contact a leadership team member to learn more.
You hire a money
manager to handle
your money, why
should your rental
property be any
different?
Call Rent-A-Home Asheville to market
OR manage your most important assets.
We offer two levels of service:
1. marketing property for lease, showing property, screening applicants, handling lease signing
2. the above PLUS professional, personalized property management
We have 25 years experience and manage over 800
properties in the Greensboro market. Let us show you
what you can do!
CREIA members can try our marketing package at
a one-time 25% off discount.
Call or email today
(828) 676-6764
kyle@rentahomeasheville.com
September 2016 ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Benefits
Update
Renters Insurance Through realprotect Protects
Your Tenants and Gives You Piece of Mind
You already know the great value of the insurance products realprotect offers you as a benefit of National REIA membership. Their exclusive policies are designed to meet the specific needs of the real
estate investor by reducing your insurance costs and managing risk. Now they are talking it one step
further by offering another layer of protection through preferred renters insurance – designed for your
tenants, with you in mind.
By requiring your tenant to carry renters insurance through realprotect you will ensure that your property has the extra layer of protection that you already require. For as little as $5 per month, your tenant
can purchase basic renters insurance and, for an additional premium, they can add coverage for their
belongings - including valuable articles.
And the good news? You’re listed as an additional interest on their policy so that you know their policy
is valid!
Why should you require your tenant to carry a renters insurance policy? Because, renters insurance
though realprotect:
• Protects your tenant’s belongings.
• Provides personal liability to your tenant.
• In the event you have a property insurance loss that is tenant caused, the renters
insurance policy may become primary, thus avoiding a claim on your policy.
• Avoids you potentially becoming primarily liable for the actions of your tenants, their
guests and their pets.
• Provides you with a peace of mind!
Insurance programs offered by realprotect have been designed specifically for the 1-4 family dwelling
real estate investor. Whether you own 1 home or thousands, realprotect can help you reduce your
insurance costs and properly manage your risk. They are the experts in insuring real estate investors
and understand the real estate business. They understand what investors like you look for and need
in a comprehensive insurance program.
Get a Quote!
www.realprotect.com
ph: 800-579-0652 (option 3)
jjohnson@realprotect.com
National REIA Supplement
3rd Quarter 2016
National REIA
ph 888-762-7342
www.NationalReia.org
@nationalreia
ISC Connect Takes the Hassle out of Leases;
Allows You to Rent Perfect!
Investigative Screening & Consulting’s ISC Connect is the solution rental property owners & managers have been crying out
for. They’ve combined the hands-on human element of investigative techniques with the speed, convenience, and cost-cutting
power of the digital age to provide you with an all-in-one, mobile
web-enabled screening process. The ISC Connect Online Lease
Agreement allows you to send your tenant(s) a customized lease
agreement, electronically and securely!
No more having to create or search for a lease; just generate it,
and they’ll securely hold on to it for you! They have included
all the legal greatness of a normal lease, and made it easy to
customize to your specific property by adding terms such as:
Lease Start and End Dates, Monthly Rent, Additional Lessees
and Authorized Occupants, and of course Security Deposits and
Concessions. Your tenant (and you) will then electronically sign
the lease, which is then conveniently stored and available in your
account, viewable at anytime! National REIA members receive a
discounted $0.95 set up fee for this program.
In addition to their Online Lease, ISC now features a way to make
renters insurance required for your rental property addresses.
Tenants are notified via the ISC portal and, through a partnership
with realprotect, given access to special discounts on a new
policy – starting as low as $5 per month.
Sign up today and see why ISC Connect has become the one
tools hundreds of property owners and managers cannot live
without. ISC allows you to rent perfect!
National REIA Supplement
3rd Quarter 2016
Legislative
Update
Seller Finance Reform is on the Way!
The Seller Finance Enhancement Act (HR 5301) was recently introduced in Congress by Rep.
Roger Williams (R-TX) and Rep. Henry Cuellar (D-TX). The bill will increase the number of
allowable seller-financed properties from three to twenty-four per year. The two per month
average was considered a reasonable request to the excessive restriction put in place by
Dodd-Frank legislation during the recession.
Additionally, HR 5301 would require the Treasury Department to study the housing finance
market over the next three years and report back to Congress with suggestions for steps
to improve the sales and financing of these homes, especially those with valuations below
$150,000 or 60% of the regional median housing value.
HR 5301 keeps in place key consumer safeguards set in place by Dodd-Frank such as limits
on interest and balloon payments. The Seller Finance Coalition, of which National REIA is a
leading member has been working diligently to see this bill come forward and will continue to
grow the number of sponsors as passage is ultimately sought.
Current sponsors include: Rep. Roger Williams (TX-25) and Rep. Henry Cuellar (TX-28), as
well as original co-sponsors Rep. Jim Bridenstine (OK -1), Rep. Alan Grayson (FL-9) Rep. Mick
Mulvaney (SC -5), Rep. Randy Neugebauer (TX- 19), and Rep. Bobby Rush (IL-1).
The Seller Finance Coalition was formed in February of 2014 to advance the interest of the seller finance industry. Founding members of the SFC include Glenn Lee
of Texas Funding, Bob Repass and Eddie Speed of Colonial Funding Group, Scot
Campbell of S.R. Campbell Properties, and Doug Smith of My House Deals. National REIA has been a member since 2015.
Call to Action for HR 5301:
Your help is needed now! We need you to contact your
member of Congress and urge passage of HR 5301.
Visit www.NationalREIA.org/legislative
for more information and to download a letter you can
use to personally contact your Congressman!
National REIA Supplement
3rd Quarter 2016
Online at www.creianc.org Page 7
Get started flipping
houses in real estate IRA
By Jim Hitt
CEO American IRA
The fix-and-flip real estate strategy popular among investors. But
many people aren’t sure how to get started because most of their
available investment capital happens to be in retirement accounts.
But this shouldn’t dissuade you. If you happen to have a strong
interest in fixing and flipping houses, and you have the capital
available in retirement accounts, you can easily get started flipping
homes using a self-directed IRA, also called a real estate IRA.
The concept is simple: The law doesn’t restrict IRA investments
to Wall Street investment products like stocks, bonds and mutual
funds. Your IRA money doesn’t belong to Wall Street. It belongs to
you. And you are free to invest your IRA funds and other tax-advantaged retirement account funds as you see fit, with just a few small
exceptions.
Advantages of Real Estate Investing Within A Self-Directed IRA
• All gains are tax-deferred until retirement (or tax-free, if you
use Roth accounts and hold the assets within a Roth account for at
least five years.
• All positive cash flow (income and non-income) is tax deferred
or tax-free.
• There is no requirement to hold property for 1 year to qualify for
better tax rates.
• Assets in retirement accounts enjoy substantial creditor and
bankruptcy protection.
• Expense ratio/AUM fees can be minimized, compared to the
fees charged by most Wall Street firms. Because real estate transactions are relatively large but relatively infrequent, you can pay a
fee-per transaction for much less than a company charging you 1 or
2 percent per year in AUM fees would cost.
How to get started
1.) First, open an IRA with American IRA, LLC. This is no more
difficult than establishing an account with any other investment
company.
2.) Transfer money from another IRA, old 401(k), SEP or other
qualified source of funds to the IRA, or contribute up to your annually allowable maximum contribution. Most of our clients use a
trustee-to-trustee transfer, meaning they authorize a direct rollover
The shortest path from where you
are to where you want to be?
As a part of nationally renowned Larry Goin’s Inner
Circle Program, you’ll train with Larry and his team
at the offices of The Goins Group in Lake Wylie,
SC, learning from active investors buying
10-20 properties a month.
of funds from an existing IRA or 401(k) to the new self-directed account at American IRA.
3.) Then, with your IRA funded, find a deal. That’s your job. That’s
the beauty of the self-directed IRA or real estate IRA. You are fully
in control. No one else is picking out deals for you. Your success
is totally up to your own hard work and savvy in selecting the most
promising available real estate deals for your self-directed IRA. You
aren’t limited to investments in your state or even the United States.
You can go anywhere in the world. You can also invest your real estate IRA account in anything from raw land to apartment buildings,
duplexes, condominiums, mobile homes and trailer parks, commercial property, private notes, hard money lending, construction
lending, new construction, and anything else you like.
4.) Tell us where to send the check or wire the money and how
much. You should also tell us exactly what we’re buying on your
behalf.
5.) Collect your statement.
As your real estate IRA administer, we will collect contributions
from you, collect rent and other payments from tenants and customers and reinvest them in your self-directed IRA in accordance
with your instructions. When you want to make a distribution, just
let us know and we’ll disburse your funds. American IRA, LLC, will
handle all the record keeping and IRS reporting on your IRA’s behalf.
(If you are a house flipper or you are interested in becoming one
and want to leverage the tax advantages of your IRA to invest in real
estate, contact Ameican IRA at AmericanIRA.com or 866-7500472(IRA).)
Installation and service
on any appliance and heating
and air conditioning systems
– including gas
• Licensed • EPA Certified
• Certified in gas piping
• Light plumbing and electrical
Prompt, Dependable Service
Reasonable Rates
24-Hour Emergency Service
Terry Griffin
theappliancedr2014@gmail.com
(828) 424-4651
September 2016 ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Page 8 Online at www.creianc.org
Five practical tips for
wholesaling success
By William Bronchick, J.D.
Wholesaling is a simple concept, yet many investors don’t
succeed because they fail to educate themselves enough to pull
one off. Wholesaling is simply tying up a deal, then reselling it to
another investor for a fee or profit. But, as they say, “The devil is
in the details.” Here are five super-practical tips for pulling off a
wholesale deal…
Build Your Back-End List First: Too many wholesalers find a
deal, then try to “shop” it on Craigslist or show up with flyers at a
local REIA meeting. You’re bound to fail if you don’t FIRST build
your back-end list of potential buyers, find out what they’re looking
for, then go out and find deals they need.
Know How to Estimate Repairs: Most wholesalers are completely inept at estimating rehab repairs, so their numbers are
off. There’s nothing worse for your reputation than telling another
investor a wholesale house deal you have needs $20k of repairs,
when in fact it needs $40k.
Learn what things cost – labor and materials – and make a
detailed list that you can show your back-end buyers. Be conservative with your estimates. It’s better to be wrong on the high side
than the low side. If possible, get a contractor bid or two to back
up your assertions.
Proof, Proof, Proof: Don’t just tell your back-end buyers the
house is worth $X fixed up. Since most wholesalers are either
fibbing or just plain wrong about their resale values, most of your
would-be buyers are VERY skeptical. Show them PROOF. Zillow is
not proof and neither is a real estate broker’s guesstimate. Provide
multiple comparable sales with pictures, addresses, and details.
Put Your Bottom Line Up Front: Many wholesalers mark up their
profit margin too high when peddling their wholesale deal because
they are either greedy, dumb, or assume that their back-end buyers
will negotiate.
A wholesale offering is one of the FEW instances where it
makes sense to offer your bottom line up front. You have a limited
deadline to move your wholesale deal, so don’t ask too much because you assume people will negotiate your price.
Most people will pass on it because they are afraid to negotiate or they assume that you are not negotiable (and greedy). The
key to wholesale deal success is SPEED, so offer your bottom line
wholesale price up front, and say it’s not negotiable.
Make It Easy for People to Say “YES!”: You probably get dozens
of so-called wholesale deals in your email box. Most are just summary numbers that requires you to do all the homework. In our
experience, most of theses deals aren’t real deals, so we rarely
take the time to do the homework and we pass on the deal.
This being the case, make it EASY for someone to make a decision. Provide a flyer or link to a Dropbox folder or website with all
necessary information: comps, detailed repairs, copy of your purchase contract, title search, recommended contractors, hard money lenders, photos, videos, map to the property, etc. Don’t leave
anything out, good news or bad. The more “bait” (information) you
provide, the easier it will be for people to bite on your hook.
(William Bronchick, J.D. is a nationally-known attorney, author,
speaker and real estate investor. For more information, visit: legalwiz.com.)
New Members Orientation
New to CREIA? Learn how to use your CREIA connection to
define and achieve real estate goals?
New members and guests are invited to our monthly meet-up.
You’ll learn more about:
• CREIA’s purpose and how it functions
• Monthly program formats
• National and local speakers
• Special interest meetups
• Local vendor relationships
• Networking and education opportunities
• Tips to get started and accelerate the learning curve
• Time to ask questions in casual get-together!
Meetups: Wednesday following CREIA’s general meeting
Standard Pizza Co. , 755 Biltmore Ave., Asheville 28803
Questions? call or text Bob (910) 262 8863
Next Meeting, September 14, 6 p.m.
September 2016 ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Online at www.creianc.org Page 9
Real estate
partnerships work
by Bob Diamond
When I started out in real estate I had no experience, no money,
and no credit. I was not yet an attorney – in fact law school had
not even occurred to me. I was working in corporate America and
had a dream of real estate millions, but fear was holding me back.
I had friends who felt the same way, so we decided to partner
up. Since then, my friends and I have made millions of dollars
together. We helped each other get over fear, we raised money
from friends and family, split up the work and shared our expertise
to work real estate deals together. I doubt I would have ever gotten
started without my various partners.
I bet a partnership would help you also. Help you do bigger
deals, get over your fears, bring resources you do not have and
split up the work.
Partnerships can be great, but they do not last forever (eventually someone decides they no longer want to work together or a
partner dies). When partnerships end, they can end badly in disputes and even litigation. That is why smart investors use written
partnership agreements to bring the issues out in the open and
reach an agreement on key points before the partners have money,
work and emotion tied up in a deal.
One of the main holdbacks for investors is understanding what
they need to discuss with their prospective partner and having a
form to work with.
There are issues you must discuss with your prospective partner before doing business as a partnership. Here are ten items you
must discuss before entering into an agreement with a prospective partner:
Ten discussion items for real estate partners
1. How much money will each partner put up.
2. Who will be responsible and pay into the business if extra
– Continued Page 10
Intermediate Investors
The Intermediate Investors Group fills the void between CREIA’s
existing Beginner’s and Advanced Groups. Those attending
should have a few deals under their belt and a desire to help
others and themselves to greater success. Space limited to first
20 people who reserve spots.
Meets the third Wednesday of each month, 6-8 p.m.
Enka-Candler Library, 1404 Sand Hill Rd., Candler, NC 28715
Info: Gary Stamper at 206-779-5870
garystamper@yahoo.com
Next Meeting, Wednesday, Sept. 21, 6 p.m.
Stephen C. Wilkie
General Contractor
Licensed General Contractor
specializing in
Foreclosures
Note Purchases
Remodeling and Rehabbing
Wholesale Cabinets
(828) 273-9191
September 2016 ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Page 10 Online at www.creianc.org
Target your market – Become a
CREIA Corporate Sponsor
CREIA values our Corporate Sponsors and the expertise they provide. With 250+ members and growing,
we know sponsorship can be a win-win for both CREIA
and your business.
Benefits include:
• One annual CREIA membership
• Promote your business with a table at main
meetings and all seminars
• Address CREIA membership at a meeting once
a year
• Advertise with a quarter-page ad in our monthly
newsletter – also placed on the CREIA website
• Post your ad to CREIA’s Yahoo discussion group
• Network with current and future members and
enjoy referrals from those members
• Increase your contact list.
For information on becoming a CREIA
Corporate Sponsor, contact Mark Reed,
828-665-7882, mjr2004yr@yahoo.com
money is needed due to cost-overruns, slow selling, or for any
other reason?
3. Whether either party can sell to a new partner without the
existing partners’ permission. If the non-selling partner does not
want to give permission how can the partner who wants to sell
get out?
4. The exact nature of the business proposed to be done by
the partnership. For example: Will you be renting properties, flipping them, doing both?
5. What authority each of you will have to sign contracts, hire
people, take loans and otherwise bind the partnership to obligations to outside parties. Do you have to agree on every item? Is
there a certain amount you can spend before needing permission?
6. How long you plan to work in partnership before splitting up
the properties and/or profits?
7. Can each of you do deals outside the partnership or will you
do all deals together?
8. Will the partnership be one deal or multiple deals?
9. What if the partners cannot agree? How is a deadlock
resolved?
10. What happens if a partner dies? Does his share go to
his heirs or will the business pay his estate cash to buy out the
shares? (Note: This is usually done with life or key man insurance)
September 2016 Be sure and support these great
sponsors who support your association
• American IRA
• Seller Solutions
• Rent A Home
• Carolina Hard Money
• ARC
• Stephen Wilkie
• The Goins Group
• Rainbow Restoration
• Love the Green
• Innovative Financial
Planning
• The Appliance Doctor
• Innovative Financial
Planning
• Kahl Properties LLC
• WNC Real Estate
Problem Solvers
Putting a real estate investment partnership together
Usually you will need a written partnership agreement and you
will also need an operating entity such as an LLC to limit your
personal liability. It’s advised you use the help of an attorney in
putting together a detailed operating agreement the first few
times. It’s a small price for real estate investors to pay for a piece
of mind and protection of each member’s interest.
Lastly, in my experience, it is important to distinguish real
estate investment partnerships from pooled money from several
investors when going into a real estate deal.
(Bob Diamond is a practicing real estate attorney with experience in loan modifications, short sales and real estate litigation,
real estate developer, and published author of three books on
foreclosure investing.)
o Facebook - facebook.com/creianc
o Facebook (members only) - facebook.com/groups/Caro-
linaRealEstateInvestors/
o Meetup - meetup.com/Carolina-Real-Estate-InvestorsAssociation-CREIA/
o Twitter - twitter.com/creianc
o Yahoo Groups - groups.yahoo.com/neo/groups/CREIA/
o Text Alerts / Newsletter – Contact CREIA office ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Online at www.creianc.org Page 11
Here’s why you need
to join CREIA today!
All CREIA members receive:
4 Monthly Meetings – Learn from informative programs and
real estate professionals, network, buy and sell, keep updated on
current laws and regulations.
4 Monthly Newsletter – Keep current with
upcoming events, learn from articles on a wide
variety of investment topics.
4 National Speaker Seminars – Discounted
admission to seminars featuring nationally
known experts.
4 Local Speakers Seminars – Discounted
admission to seminars featuring local real
estate experts.
4 Monthly Focus Group Meetings –
Free admission to monthly meetings for
new members, beginning investors and
advanced investors.
4 Sponsorship Opportunities –
Discounted sponsorship rates to promote
your business in our newsletter and
meetings.
4 Annual Investor Cruise – Enjoy a low-cost cruise sponsored
by National REIA that features nationally-known speakers.
4 Home Depot – Twice a year rebate of 2% of purchases along
with a 20% discount on paint and primer.
4 Realeflow – Free 30-day trial and monthly discount on
Realeflow software that helps find and analyze deals, find buyers,
make offers and more.
4 Rentals.com – 30% off standard listings at Rentals.com and
bulk discounts for multiple listings.
4 The Real Estate Investment and Funding Association
(REIFA) – Access to online platform that connects funders
and investors.
4 Local Market Monitor – 25% off all
purchases of Personal Investor Market
Reports.
4 Office Depot – Save 15-25% off
annual office supply purchases plus
15-55% off more than 1,500 commonly
purchased items and discounts on
shipping, copying and more.
4 PartnerShip – Discounted
shipping with FedEx, UPS Freight,
YRC Freight and others for small
packages to large truck loads.
Membership is only $150 for the first year! ($100
annual renewal). For the complete list and more info on
all member benefits, visit CREIANC.org.
The Carolinas Real Estate Investors Association, Inc. (CREIA) is a 501(c)(3)
non-profit educational organization dedicated to:
1. Providing education and training to help real estate investors learn and
perfect their real estate investment and management skills;
2. Encouraging members to netwsork and share experiences; and
3. Supporting public policy that encourages thrift and private property
ownership and rights of use.
The Association does not itself invest or provide investment, legal or tax
advice to individuals.
LEADERSHIP
President
Rodrigo Afanador
(828) 974-1509
rodrigo@ashevillecashbuyers.com
Treasurer
Nancy Duggan
(828) 298-3933
auntnancyd@gmail.com
Director of Marketing
Mark Reed
(828) 665-7882
mjr2004yr@yahoo.com
Chair - Newsletter
David Cornwell
(828) 687-9624
david@wordshoppe.com
Vice President
Reed Bilbray
(972) 567-5770
reed@bilbray.net
Director of Education
Beginning Investors Group Leader
Greg Anderson
(828) 774-4887
dreaminglivesinc@yahoo.com
Director of Special Projects
Bill Goacher
(828) 216-6066
GoacherInts34@gmail.com
Hendersonville FG Leader
Tom Boyd
(828) 697-6716
tandcboyd@morrisbb.net
Director of Member Services
Bob Swanson
(910) 262-8863
rlswanson491@gmail.com
Chair – Public Policy Commitee
Art Meyers
(828) 669-8159
artfreetobe@hotmail.com
Office Administrator
Emily Smith
(828) 338-9658
creia@bellsouth.net
Secretary
Advanced Investors Group Leader
Tex Teixeira
(828) 273-8565
TexBuysRealEstate@gmail.com
September 2016 ©2016 Carolinas Real Estate Investors Association, Inc. All rights reserved.
Where Asheville Area Real Estate Investors Learn & Network
PO Box 615
Asheville, NC 28802