akron/canton real estate investors association new$line...akron/canton real estate investors...

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Type equation here. Akron/Can February 2016 Volume 28, Issue 2 General Meetings: 2 nd Wednesday of every month at 7PM. Knights of Columbus Hall 2055 Glenmount Ave, Akron, OH 44319 For more info, visit www.acreia.org or call 330.858.0456 Meeting Charges: First time visit (regular meetings)..……..Free Single…………...$20.00 Couple………….$30.00 Membership Annual……..…..$125.00 Business/Vendor Membership…..$250.00 Highlights: Save On Materials! 2 Announcements 3 Furnace Tips 4 Board Contact Info 5 OREIA Board of Directors Retreat 6 Networking 6 Fi Two By Alan Need to money family h building or luxu your cr Join us 10 th to nationa lending what w money estate I started savings creative land co partners employ going t purchas I had al long th done. I house w didn't k loan on what m Buy 'em Just thin Coming Events March 9, 2016 : Tim Kuhman, Kingdom Trust Company. Investing in Real Estate using your IRA. April 13, 2016: Mike Dennis, ServiceSold.com. Get contractors to compete for your business. nton Real Estate Investors Association NEW$LIN inding Private Le With Alan Cowgill February 10th, 2016 7:0 Major Benefits of Having Priva n Cowgill Attendees of OPHP cr o learn how you can get the y you need to buy single- houses, commercial gs, apartment complexes, ury homes, regardless of redit or financial situation? s on Wednesday, February hear Alan Cowgill, author, al speaker, and private g consultant, as he tells us we need to know to get the y we need to fund our real deals. d my business by using banks, s, credit cards, lines of credit, e techniques with sellers (like ontracts or lease/options), and s. But, once I was self- yed, I was concerned that it was to be harder to get loans to se properties. lways been unhappy about how he banks take to get the job I had it take 4-1/2 months on a without a furnace. The bank know if they wanted to make a n that kind of house, but that is my rehab business is all about. m ugly, cheap and fix 'em. nk, if I would have used a private len could have house and time I got t bank. With priva available a deal come because I k for me. scrambling bank, I've m deal. My r property competition love havin business. See “Priva LINE enders 00 pm ate Lenders will receive 1.5 Hours redit - Finance. Alan Cowgill nder on the above deal, I bought, fixed & sold the pocketed $20,000 by the to the closing table with the ate lenders, I have the fund all the time. When a good es my way, I can grab i know the money is waiting While my competitors are g around applying at the made an offer and closed the rehab crew is all over the like ants before the n knows what happened. ng private lenders for my ate Lenders” on page 4

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Akron/Canton Real Estate Investors Association

February 2016

Volume 28, Issue 2

General Meetings:

2nd Wednesday of every month at 7PM.

Knights of Columbus Hall

2055 Glenmount Ave, Akron, OH 44319

For more info, visit www.acreia.org or call 330.858.0456 Meeting Charges: First time visit (regular

meetings)..……..Free Single…………...$20.00 Couple………….$30.00 Membership Annual……..…..$125.00 Business/Vendor Membership…..$250.00

Highlights:

Save On Materials! 2

Announcements 3

Furnace Tips 4

Board Contact Info 5

OREIA Board of Directors

Retreat 6

Networking 6

Finding Private Lenders

Two Major Benefits of Having PrivaBy Alan Cowgill

Need to learn money you need to buy singlefamily houses, commercial buildings, apartment complexes, or luxury homes, regardless of your credit or finJoin us on Wednesday, February 10th to hear Alan Cowgill, author, national speaker, and private lending consultant, as he tells us what we need to know to get the money we need to fund our real estate deals.

I started my business by using banks, savings, credit cards, lines of credit, creative techniques wiland contracts or lease/options), and partners. But, once I was selfemployed, I was concerned that it was going to be harder to get loans to purchase properties.

I had always been unhappy about how long the banks take to get the job done. I had it take 4house without a furnace. The bank didn't know if they wanted to make a loan on that kind of house, but that is what my rehab business is all about. Buy 'em ugly, cheap and fix 'em.

Just think, if I would have used a

Coming Events

March 9, 2016: Tim Kuhman,

Kingdom Trust Company.

Investing in Real Estate using

your IRA.

April 13, 2016: Mike Dennis,

ServiceSold.com. Get

contractors to compete for

your business.

Akron/Canton Real Estate Investors Association

NEW$LINEFinding Private Lenders

With Alan Cowgill

February 10th, 2016 7:00

Two Major Benefits of Having PrivaBy Alan Cowgill

Attendees will receive 1.5 Hours of OPHP credit

Need to learn how you can get the money you need to buy single-family houses, commercial buildings, apartment complexes, or luxury homes, regardless of your credit or financial situation? Join us on Wednesday, February

to hear Alan Cowgill, author, national speaker, and private lending consultant, as he tells us what we need to know to get the money we need to fund our real estate deals.

I started my business by using banks, savings, credit cards, lines of credit, creative techniques with sellers (like land contracts or lease/options), and partners. But, once I was self-employed, I was concerned that it was going to be harder to get loans to purchase properties.

I had always been unhappy about how long the banks take to get the job

. I had it take 4-1/2 months on a house without a furnace. The bank didn't know if they wanted to make a loan on that kind of house, but that is what my rehab business is all about. Buy 'em ugly, cheap and fix 'em.

Just think, if I would have used a

private lender on the above deal, I could have bought, fixed & sold thehouse and pocketed $20,000 by the time I got to the closing table with the bank.

With private lenders, Iavailable all the time. When a good deal comes my way, I can grab it because I know the money is waiting for me. While my competitors are scrambling around applying at the bank, I've made an offer and closed the deal. My rehab crew is allproperty like ants before the competition knows what happened. I love having private lenders for my business.

See “Private Lenders

NEW$LINE Finding Private Lenders

th, 2016 7:00 pm

Two Major Benefits of Having Private Lenders

Attendees will receive 1.5 Hours of OPHP credit - Finance.

Alan Cowgill

private lender on the above deal, I could have bought, fixed & sold the house and pocketed $20,000 by the time I got to the closing table with the

With private lenders, I have the funds available all the time. When a good deal comes my way, I can grab it because I know the money is waiting for me. While my competitors are scrambling around applying at the bank, I've made an offer and closed the deal. My rehab crew is all over the property like ants before the competition knows what happened. I love having private lenders for my

Private Lenders” on page 4

NEW$LINE

Save on Materials from National Retailers

You’re leaving money on the table if you overpay for materials and services. That’s why we built a program with the national suppliers

• 5%+2% off everything at Lowe’s with a Lowe’s Accounts Receivable (LAR)

• Up to 40% off Sherwinpaint and flooring

• 10-

• Up to 30% off Sears PartsDirect

• More than a dozen other suppliersProfit is createyour business. We’re here to save you money on the things you buy everyday so you can increase the ROI of your properties.

NEW$LINE

Community Buying Group is a program built for real estate investors by a real estate investor. Novice or expert, we have memberbuild your business and save you money. We call it “Getting Hammered.” Take advantage of these benefits and join n Go to: https://www.communitybuyinggroup.com/

• Click “right hand corner

• In the box that says “ENTER CODE” type in then click “REDEEM”

After registering, check out the Benefits, Suppliers, Financing, and Insurance. The Resources page has dozens of real estate related articles, and make sure to watch the Howvideo series. Sign up for the Lowe’s Accounts Receivable card to begin saving immediately on supplies you’re goito buy anyway. Also get your Sherwin Williams Pro account through CBG to save up to 40% on paint and supplies. Then look at the nearly two dozen other suppliers to find out how to save even more! An individual Community Buying Group membership costs $9year. As a member of ACREIA, you get this benefit for to sign up and start saving now.

One Program For Your Investing Career

You’re leaving money on the table if you overpay for materials and services. That’s why we built a program with the national suppliers you know and trust.

5%+2% off everything at Lowe’s with a Lowe’s Accounts Receivable (LAR)

Up to 40% off Sherwin-Williams paint and flooring

-22% off Sunbelt Tool Rentals

Up to 30% off Sears PartsDirect

More than a dozen other suppliers Profit is created in the operation of your business. We’re here to save you money on the things you buy everyday so you can increase the ROI of your properties.

Page 2 of 8

Community Buying Group is a program built for real estate investors by a real estate investor. Novice or expert, we have member-only perks to build your business and save you money. We call it “Getting Hammered.” Take advantage of these

join now!

https://www.communitybuyinggroup.com/

Click “JOIN” in the upper right hand corner

In the box that says “ENTER CODE” type in ACREIA1112

click “REDEEM”

After registering, check out the enefits, Suppliers, Financing, and

Insurance. The Resources page has dozens of real estate related articles, and make sure to watch the How-To

Sign up for the Lowe’s Accounts Receivable card to begin saving immediately on supplies you’re going to buy anyway. Also get your Sherwin Williams Pro account through CBG to save up to 40% on paint and supplies. Then look at the nearly two dozen other suppliers to find out how to save

An individual Community Buying Group membership costs $99.00 per year. As a member of ACREIA, you get this benefit for FREE! Make sure to sign up and start saving now.

$$$$$

Program For Your Investing

NEW$LINE Page 3 of 8

-ACREIA Thursday Breakfast: Find out what’s happening with your fellow Akron/Canton investors. 8:30 a.m. at Waterloo Restaurant, 423 E Waterloo Rd, Akron, OH 44319 -SCREIA Wednesday Breakfast: Stay up to date with your SCREIA network. Wednesdays 8:30 a.m. at the Athens Restaurant, 816 Harrison Ave SW, Canton, OH 44706 -SCREIA Saturday Breakfast: Join your fellow investors for a great meal and a chance to talk about the latest happenings in REI. 3rd Saturday 8:30 a.m. at The Blue Fig, 6041 Whipple Ave NW, North Canton, OH 44720 -Remember to sign up for your member benefits at Community Buying Group. Go to https://www.communitybuyinggroup.com/ and at the top of the page where it says “Redeem Group ID” type in ACREIA1112. Save at Lowes, Sherwin Williams, and more than 2 dozen other vendors. Also, open your Lowes LAR account and save 7% off your purchases! http://www.communitybuyinggroup.com/pdf/LAR-Application-Instructions.pdf

Announcements

Stark County REIA (SCREIA): 4th Tuesday of each month. Meeting is held at Exploration Gateway at Sippo Lake Park, 5712 12th St NW, Canton, OH 44708. For more info go to http://www.investinstark.com/

Mahoning Valley REIA (MVREIA): 2nd Monday of each month. Meeting is held at Fifth Seasons Banquet Hall, 1400 N Canfield Niles Rd, Mineral Ridge, OH 44440. For more information go to https://www.mahoningvalleyreia.com/

Wadsworth: Contact Rick Sullivan, [email protected]

Greater Cleveland REIA: 2nd Tuesday of each month. For more info go to http://greaterclevelandreia.com

Ashtabula County REIA (AREIA): www.areia.org

REIA of Greater Cincinnati (REIAGC): www.cincinnatireia.com

Greater Dayton REIA (GDREIA): gdreia.com

Toledo REIA: toledoreia.com

Central Ohio Real Estate Entrepreneurs (COREE): https://www.centralohioreia.com/

Investment Property Owners Association of Butler County: ipoabutlercounty.com

Contact association for current meeting times and places.

OREIA Affiliated Groups You Can Visit

Members of OREIA

member organizations

(such as ACREIA!) are

welcome to attend any

other OREIA affiliated

REIA for FREE. Plan to

visit other groups to

build your network!

NEW$LINE Page 4 of 8

Winter is upon us and, as landlords, we will soon be receiving phone calls from tenants that their furnaces are not working properly. When you speak to your tenants, ask the following questions before you contact a heating & cooling company.

1. When was the last time you changed the filter in your furnace? Furnaces need air flow to operate properly. A dirty furnace filter is like putting cardboard over of radiator grill on your car. It will cause the furnace to overheat and shut off. Most filters should be changed monthly.

2. Are all of the supply air grills in the home open? Do you have furniture/rugs blocking the return air grills? The furnace needs the air flow to cool itself. Closed and /or obstructed grills will minimize the air flow to the furnace causing it to overheat and shut off.

3. If the property has a digital thermostat, do the batteries need replaced? If the thermostat has no power, the furnace will not energize.

4. Is the power switch to the furnace and/or the breaker to the furnace turned on? Children are fond of flipping switches. If they turn off the switch to furnace, it will not work.

5. Is the front door to the furnace closed properly? If a tenant changes a

See “Furnace Tips” on page 7

Do It Youself Furnace Troubleshooting By Dirk Elsass, Hero Heating & Cooling, Canton, OH

With private lenders, I have the funds available all the time. When a good deal comes my way, I can grab it because I know the money is waiting for me.

As my use of private lenders increased, I learned that some of them didn't need monthly payments and so I started to structure my loans so there was no payment until the property is sold.

So, a major benefit is SPEED to purchase a property.

Let's look at another major benefit of having private lenders. My first private lender was my Mother. My Dad had passed away in 1989 and Mom had insurance money. She proudly invested it on bank certificates of deposit (CDs). When I became a real estate investor, I learned about finding private lenders and so I talked to Mom about it. She loaned me money and received 10% interest in return. I paid her monthly just like her bank did with her CDs. She was delighted and so was I.

As my use of private lenders increased, I learned that some of them didn't need monthly payments and so I started to structure my loans so there was no payment until the property is sold.

This is a huge benefit... Think about what this has done to improve my monthly cash flow. Now my Mom will always get monthly payments from me because she is retired and depends on that income BUT anyone who can wait on their money, I'll let the money accrue. So the second major benefit is improved CASH FLOW because you don't have to make monthly mortgage payments but just let the interest accrue.

Alan Cowgill is a speaker, author, and real estate entrepreneur. His step-by-step system “Private Lending Made Easy” teaches others to find private lenders.

Remember! Apply for your Lowes LAR account through Community Buying Group, and begin saving 7% on your materials purchases! To find out how, go to http://www.communitybuyinggroup.com/pdf/LAR-Application-Instructions.pdf. Your LAR account saves you money and benefits ACREIA. Sign up now!

Private Lenders

Continued from Page 1

NEW$LINE Page 5 of 8

President: Open

Fatima Rida, Vice President 330.958.4900 [email protected]

Secretary: Open

Mark Waide, Treasurer/Program Dir/OPHP Liaison 330.474.9404 [email protected]

Arne Englehart, Trustee 330.864.7546 [email protected]

Joseph Spohn, Trustee, Past President ACREIA 330.922.3808 [email protected]

Tom McCombs, Trustee, Past President ACREIA 330.644.2413 [email protected]

Heather Annabell, Trustee, Legislative Chair, Librarian 330.261.8956 [email protected]

Richard Woods, Trustee 330.620.1195 [email protected]

Rick Sullivan, Trustee [email protected]

Rudy Solomon, Trustee, Web Manager

April Waide, Administrator 330.858.0456 [email protected]

ACREIA Board Members

Have an article you’d like to write? A topic you’d like us to cover?

Send articles and suggestions to [email protected] by the 20th of the month. Attached files must be in Word format. Submissions will be reviewed for content and are subject to space availability.

Volunteer!

If you’d like to help your

association, let us

know! Talk to any of the

trustees or our

administrator to find out

how you can pitch in.

Welcome ACREIA Members!

New Members

Michael Samelak Anthony Blackmon, Sr.

Edward Buehrle

Renewing Members Rick Sullivan, Trustee

Jim Keogh Kathy Dougherty

New Vendor Members

Catastrophe Response Team- Tim Ellsworth & Dylan Ellsworth

No Time Cleaning- Rhonda

Solomon

NEW$LINE Page 6 of 8OREIA Directors Retreat What can we do for Member Groups and Individuals in 2016?

The OREIA board of directors, consisting of representatives from all of the affiliated local REIA groups met at Maumee Bay State Park on January 9th, 2016 to discuss the direction OREIA wants to go in 2016. The main function of OREIA is to support local member REIAs, and it will carry this out by assisting with formation of new member groups and providing training events for REIA leaders. The OREIA website will provide information about member associations so individuals can more easily find their nearest group. Also important is the legislative voice of our combined numbers that OREIA brings to Columbus. We also discussed the 2016 OREIA Convention, which is unique and a great source of information and networking for REIA members throughout Ohio and neighboring states.

Membership in OREIA is included in your individual membership with ACREIA. One more of the many benefits of membership!

$$$$$

Back Row: Jack McKinnon, SCREIA; Alan Fishwick, IPOA Butler Co; Ami Perez, GCREIA; Nate Bibb, MVREIA; Vena Jones-Cox, COREE; Dan Acton, Legislative Chair; Don Newman, OREIA Pres; Eric Vincent, IPOA Butler Co; Rudy Solomon, ACREIA; Dirk Elsass, SCREIA; Zac Messer, COREE. Front Row: Don Strickland, GCREIA; Shawn Tiberio, MVREIA; Sham Reddy, GDREIA; Jim Pirko, OREIA VP; Connie Dininno, GDREIA; Heather Annabell, ACREIA; Dave Czajka, Toledo REIA; Marsha Grossman, GDREIA; Anna Mills, Toledo REIA; Mark Waide, ACREIA; Linda Hull, Cincinnati REIA. Photographer: Connie Collings, SCREIA

NEW$LINE Page 7 of 8

Membership in a real estate investment association is all about networking, but many investors do not understand what networking itself is all about.

Networking is more than just referring business investor to investor, or company to company. Networking is a form of "farming," a term that may be unfamiliar to investors in some areas.

The name comes from the association of actual farming, where the farmer plants his crop/seeds and takes care of his investment, watching it grow until he can take it to market, recover his costs and make a profit.

Unpredictable Results

Like investors, the farmer is dealing with an unpredictable end-product. His product is affected by the weather, as is real estate. Supply and demand control both farming and real estate.

If many people in the world decide to not eat many strawberries in any given year whether due to the price or the cost of the sugar and cream to go with them, there may be an over-supply of strawberries left at the farmer's market. The farmer will have to reduce his price to accommodate the lack of market interest or toss his berries in the trash.

Furnace Tips Continued from page 4 filter and does not properly close the metal door,

the safety switch will not engage and the furnace

will not turn on.

6. Is the gas and/or electric service to the property

turned on? Let’s face it…tenants get their utilities

shut off at times.

If none of these items correct the problem, it is

time to call a licensed heating & cooling

company.

$$$$$

Either way, he may not even be able to recover his costs, never mind make a profit. Homeowners in particular, often find themselves in the same position, as do investors themselves.

During the recessions that many areas have experienced at different times in different places in recent years, the only source of business that real estate investors have had comes through their networks, or contact pipeline. It is a wise investor indeed, who makes - and keeps, contacts with other investors, offering a much needed ear when a colleague needs to vent, when a colleague has wonderful news to share, or most important of all, business to share.

Currently, there are even "network clubs" being formed across the globe. Investors who are strong networkers are cashing in.

By networking, you are constantly building business for the future. Not only is it so important to acknowledge the person you just met, and reinforce your new contact, but you will be reminding them of what you do for a living.

Some people even have special cards that they carry which have printed on them "do you know anyone we should know?" - or, "would you like to help a friend or relative today? if so, pass along my card".

You never know how far your card will travel. You never know who is related to whom, or who will send a referral to you, as a result of your own personal "networking" habits. This is just another form of farming and harvesting the crop.

Networking Is One Of The Best Reasons REIAs Exist By Tom McCombs, Trustee

NEW$LINE Page 8 of 8

To educate members. To exchange information in the area of real estate investment with respect to financial techniques, services, material supplies, tenant management, home improvements and repairs, contractors and other areas which are of interest to the members.

Branch out! Remember, your ACREIA membership brings you additional membership in the Ohio Real Estate Investors Association (OREIA). As a member of this statewide group, you are welcome to attend any other OREIA affiliated association’s regular meetings free of charge. This is a great way to meet investors in different areas and find out what’s different, what’s the same, and different ways they are overcoming challenges similar to your own.

Our Mission

ACREIA is a non-profit educational association organized to provide a forum for the exchange of information in areas of real estate investment. These areas might include, but are not limited to, financing, accounting, renovating, contracting, servicing and landlording. Any information provided preresents the opinions of the information provider only and does not necessarily represent the position or opinion of this association or any of its members. None of the officers, board members, or newsletter writers are engaged in rendering legal, accounting, or other professional advice. If specific information or legal advice is needed, the services of a professional in that field should be obtained.

Akron Canton REIA PO Box 329

Lakemore, OH 44250

PHONE: 330.858.0456

E-MAIL: [email protected]

We’re on the Web! See us at:

www.acreia.org

ACREIA PO Box 329

Lakemore, OH 44250

Message from the board