Joplin Area Real Estate Investor Association

We are counting down the days until our virtual event of the year, Speed Learning for 2021. On December 5th, from 8:30 am until 5 pm, this free Zoom event will feature over 20 national and local speakers.

Our lineup of speakers will be discussing topics including wholesaling, staging to increase price and value, rentals and land-lording, latest flooring innovations, how to work with appraisals, making rehab decisions and so much more! Included in the lineup are five national speakers including Marco Kozlowski.

Marco has been a real estate investor for over 20 years, acquiring over 6,000 properties focusing on various types of multi-units. He has coached hundreds of successful students using his investment methods and has helped countless investors retire within 3-5 years.  Marco will be teaching you how to purchase income producing real estate from the comfort of your own home, without using any of your own money or credit.

Through
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"The only person you are destined to become is the person you decide to be." -Ralph Waldo Emerson

Successful people rarely reached the top without a lot of help along the way. The ability -- and willingness -- to ask for help is one trait that really stands out among those who are truly committed to success. You find these people at your local Real Estate Investors Association https://nationalreia.org/find-a-reia/

Personally, I've been approached a number of times by tax and accounting "up-and-comers" I and have seen this done the right way ... and the wrong way. Whether it's your boss or another entrepreneur, here are some tips for seeking advice and connections from those who get asked for this all the time:

• Do NOT waste their time. Once they've agreed to help, get to the point quickly. Don't go through your life story in excruciating detail, nor spend an hour explaining your business plan or the plot of your novel. Plan what you want to ask so you can make a clear, succinct request.

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“Life isn’t about finding yourself. Life is about creating yourself.”  - George Bernard Shaw

Based on what I've seen in my work with local businesses, here are the basic business mistakes people make when starting and operating a small business. These are by no means an exhaustive list of business mistakes, merely the most common -- and eminently avoidable...

• Not having a CLEAR business plan.  A good business plan will guide you through the first few months and years of your business. It should contain metrics that help you monitor costs as well as progress.

It doesn't have to be fancy, or even something that would hold up under an investor's scrutiny (though, certainly, if you're going down that road, go the extra mile and make sure it's good). But itdoeshave to give you a roadmap to the goals you should be hitting by certain points -- 3 months, 6 months, 12 months.

• Doing everything yourself.  Even in a one-person operation, you'll have your hands full. If you're not able to hire employees, at least be ready to outsource the tasks that aren't integral to your daily oper
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 Please see https://www.governor.ny.gov/news/governor-cuomo-announces-moratorium-covid-related-residential-evictions-will-be-extended-until for complete and continued updates on the moratorium on residential evictions.

“Life isn’t about finding yourself. Life is about creating yourself.”  -George Bernard Shaw

You'd probably be surprised if you sat in on some of the meetings I have with certain tax planning and preparation clients.

This is by no means the majority of my clients, but there are some who have socked away a significant nest egg ... but who are bored, tired, and a little numb.

And, of course, there are those among my clientele who have not yet reached the financial (or otherwise) zenith they've been working so hard towards, and they are still stuck in the grind of "everyday living". They spend hours reading the "news" and tilting at windmills on Facebook, and then they wonder: where is all this time that others seem to have to build their career?

In many instances, they haven't taken the time to re-assess whether or not what they're shooting for is, in fact, the place where they will be most alive.

They haven't taken the time to dream. And, more importantly, they haven't put a concrete plan to whatever dreams they might have had in earlier days. They're dragged around by their nose by national events and whatever circumstance comes their way. Read More...

When someone has an interest in becoming a landlord, there are a few things they’ll want to consider. The potential landlord may have some questions around common-placed terminology that a seasoned landlord is very familiar with. Because of that, we’re going to dive into some basic Q&As:

This is probably one of the most important and foundational questions and answers a landlord needs to know. Most people know what this is, even if they don’t know the exact definition. A lease is a legal contract that a tenant and landlord are bound to until it expires — it outlines critical information such as monthly rent, security deposits, rent increases, and tenant or landlord responsibilities. Most issues can be avoided by following the lease, and most tenant questions can be answered by the lease. Requirements for a lease agreement may vary by state, so it’s important to stay up-to-date with the current standards before going into an agreement.

Here’s another question that landlords may be curious about, especially if they’ve never been on either end of the tenant-landlord relationship. A sub-lease is a separate rental agreement between the original tenant and a new tenant who m
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Now that you have a basis of understanding for seller-financed transactions, the next step is to really understand the deal and learn what issues and complications might arise.

The first and most obvious is the due on sale clause when there’s an underlying mortgage. The key here is to reduce the red flags to the bank. Most banks, especially the big ones, do not routinely check title to see if the borrower has sold the home. They only check if there’s a reason to. You want to limit your conversations with the bank, try to do everything online, do not modify the underlying insurance as the bank will be alerted to that, and be careful about how you make payments. I could spend a lot of time on this as there are numerous ways to accomplish this.

Another issue that does come up (I’ve seen it many times) is when the seller misunderstood the transaction and then wants the mortgage paid off. This might be due to faulty (or lack of) communication by the investor, forgetfulness, or they just want it removed. They may even get a lawyer who doesn’t understand subject-to and claims that it is illegal to leave someone’s mortgage in place with the house is sold. Having really good documents and disclosures goes a long way in protecting yourself.

Then there are issues with the sellers. What happens if the seller dies? What happens if they file for a
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There is no doubt a national crisis upon us when it comes to health, work and our homes. Millions of Americans are faced with joblessness amidst the current pandemic. With the loss of income and/or the loss of health, a domino effect has occurred and has impacted almost every area of our lives.

Currently we all are experiencing tension in the face of an uncertain future. Whether that be health, career or home, we all have something at stake. When it comes to the housing market, there are several points of impact, from the renter to the investor or landlord.

For landlords, renting out property is a means of revenue. For some, this is their only means of income. Renters and landlords are both facing dire circumstances from either side of the spectrum.

Thankfully, there are organizations getting involved and working hard to see that individuals on all sides are being represented. Under One Roof Coalition as well as FFREIA are  pushing forward to help both tenants and property owners. Through the National Apartment Association, we are asking Congress to help renters & property owners to recover from COVID-19 and the housing issues it’s caused.

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