NIREA 10-20-07
Kenneth Edmonds- Nationwide Real Estate Investor and Educator
PROFIT THROUGH EDUCATION
136 North Grand #208
West Covina, CA 91791
1-800-352-3288
E-mail: papaisrich@yahoo.com
www.helpus2helpyou.org
Notes:
www.OREIA.com
Teaches Financial Workshops to Youth and Parents
Economics- Micro and Macro
Have the mind of an “entrepreneur” not an “employee”.
Wholesaling can be the best way to start investing because it requires little to no
start up costs.
My two kids (sophomores in high school) are millionaires because of the deals
they’ve done.
The secret to being rich…
Watch what the poor people do and don’t do it.
Watch what the rich people do and do it.
Industrial Mindset-
1) Go to school
2) Get an education
3) Get a good job
4) Work 45 years 9 to 5
5) Put your money in CDs and Mutual Funds
8 out of 10 millionaires in this country are self made.
8 out of 10 millionaires hold most of their wealth in real estate.
The wealthiest people in the world are the biggest philanthropists.
My life was transformed 12 years ago by reading “Rich Dad Poor Dad”.
“As a man thinketh so he is.”
Birds of a feather flock together.
You can tell someone’s net worth by averaging their top 5 friends’ incomes.
Wealthy people carry journals.
A poor person should take a rich person to dinner and listen.
“A wise man lays up an inheritance for his kids kids.”
Short sales are usually “long sales” because they take forever.
Go with the flow…
Cater to your market.
When the market slows down, sell more creatively (Rent-to-own, etc.)
Wealth is created from chaos. The down markets is the best time to get started.
I’m investing in Detroit. Because it’s a buyer’s market.
Crabology 101:
-Can 10 crabs in a bucket get out if there’s no lid? No because they pull each
other down. People have a tendency to pull others down to their own level of
unsuccess.
“Help enough other people get what they want you’ll get what you want.”
A goal is a dream with a deadline.
FEAR- False Evidence Appearing Real
“Everything we want is on the side of fear.”
21-30 days to change a habit. Try to do things different.
www.jumpstart.org
Jump Start Questionnaire 7 out of 10 high school kids fail this test.
“How I retired at 26”
“Give more than what’s expected of you.”
www.mrlandlord.com
Jeffrey Taylor
Top 50 Entrepreneurial Colleges
www.Farrahgray.com
8-18-07
ANNOUNCEMENTS:
DEALS TABLE
APPLICATIONS AVAILABLE
VENDORS:
AARDVARK PEST CONTROL
FEATURED SPEAKER:
LUCY BRENTON
8906 East 96th St. # 169
Fishers, IN 46037
Phone: 317-332-5829
Fax: 317-596-1864
www.MoneyToGo.net
Lucy@MoneyToGo.net
“CREDIT REPAIR AND CORRECTION”
Handout & Power Point Highlights:
It’s becoming more and more important to have good credit since lenders are
tightening up.
www.mortgageimplode.com
The majority of investor loans need to meet FREDDIE MAC and GINNIE MAE
guidelines.
Prime is around 6.5% right now.
Universal Default Rate- your credit card companies have the right to pull your
credit at any point. If they see a high debt to limit ratio they can raise your rate to
29% (the universal default rate)
How many points?
Collections – 30
Judgments – 100
Inquiries – 10
Shopping for mortgages – you don’t have a “window” of credit pulls that don’t
affect your credit.
Rapid Rescores can be done to improve a tenant’s score in a short amount of
time with correction letters from creditors turned in to the credit repositories.
When you’re doing a mortgage for someone pull from multiple lenders because
the software used to pull scores.
Credit piggy backing- it is possible to use a friend, family member’s score to
boost someone’s score.
Fair Credit Reporting Act
-Passed by Congress to protect Consumers
-Regulates more than just Credit Reports
-Auto/Homeowners Insurance – C.L.U.E.
-Medical Information Bureau
-CAAPS used by airlines
Get a C.L.U.E. report- (shows any insurance claims against a house)
Comprehensive Loss Underwriting Exchange report.
Get one free from your insurance agent.
www.choicetrust.com copy
Ask Lucy about getting her stuff on MP3.
Opt out of the credit card offers… 1-888-5-OPTOUT
PAYDEX – Business Credit
D&B Dunn and Bradstreet
The score you want to shoot for is 80.
Build business credit with a Staples or Office Max card which almost anyone can
get.
TAX NEWS FROM NEIL:
Allen county is following the GRM.
Get your appeals in within the next 40 days.
2005 Schedule E/ Get the Gross Rent Multipliers
_______________________________________________________________
MAY 19, 2007
NIREA MEETING MINUTES
This was another great meeting. Our guests were brought to us by our
distinguished member, Neil Wingate. Our guests were Stacey O’Day and her
number crunching sidekick Michael. They spoke on number of different
subjects.
The first one was that the right to appeal an assessment has been extended for
30 days. The forms for the appeal process are located on their website www.co.
allen.us/ then select Assessor, as well as many other forms as well. If you
would like to talk to them just call them at 260-449-7123 or you can visit them
downtown at 1 E Main St. Room 104, City County Building. Ft. Wayne, IN 46802.
They talked about Trending, which you can get a good handle on it at their
website. Michael said that you could use the expenses on your property to get its
worth. Next, they stated that they were working diligently on getting assessments
caught up. The state has really dumped a lot of new guidelines on them.
Finally, we will be moving to our new location: the Allen County Public Library on
DuPont Rd. across from Kentucky Fried Chicken. Sorry, I just remember food
places easily. There will be no more opening and closing of annoying doors and
the beautiful elevator music over the speakers, (we could not turn it off) and don’t
forget the lovely noisy blowing smoke eater. The general meeting will be at 10:00
AM on the 16th of June. If you would like to serve in any capacity or share any
new ideas that can help us meet our goals with NIREA, join us at 8:00AM Well,
see you soon. BE THERE!!!!
Hey fellow investors, Indy is not the only thing happening in the state. Yes, there
is real estate in this part of the state as well. If you have any ideas or specialties
in real estate tell us about them. Everyone would love hear some fresh ideas,
that might put a boost to their real estate business.
Remember even if a deal doesn't happen there is still Integrity.
Come join us at our real estate investors club. Excitement is brewing.
As the crow says "there's not just corn in Indiana."
Visit the next meeting to see what all the excitement is all about.
P.S.
Over 45,166 homeowners filed bankruptcy to stop their home from going into
foreclosure in the last 30 days across the U.S.
And 9,978 more homeowners got kicked out of bankruptcy due to non-
performance of their bankruptcy obligations and are now heading toward
foreclosure.
How are these numbers great news for us investors?
Well, that just means lots of opportunity for deep-discount deals, pre-foreclosure
deals, subject-to deal, short sale deals, and more.
These numbers are increasing monthly and they are the number one reason why
many lenders are no longer offering 100% financing to people with less than 620
credit score.
And it's also the same reason why many sub-prime lenders are out of business.
Here are the top 20 cities with the most bankruptcy filed in the last 30 days.
City - Count - Total Percentage
Atlanta - 2377 - 4.31%
New York City - 2088 - 3.79%
Chicago - 2049 - 3.72%
Detroit - 1994 - 3.62%
Los Angeles - 1842 - 3.34%
Memphis - 1718 - 3.12%
Cleveland - 1440 - 2.61%
Dallas - 1332 - 2.42%
Indianapolis - 1163 - 2.11%
Philadelphia - 1120 - 2.03%
Birmingham - 1024 - 1.86%
St Louis - 983 - 1.78%
Nashvillle - 856 - 1.55%
Denver - 832 - 1.51%
Tampa - 818 - 1.48%
Miami - 655 - 1.19%
Houston - 635 - 1.15%
Milwaukee - 628 - 1.14%
Columbus - 622 - 1.13%
Las Vegas - 610 - 1.11%
Want to contribute to NIREA?
Help in any way you can. Just send us an email with your desire to help,
info@NIREA.org
Kenneth Edmonds- Nationwide Real Estate Investor and Educator
PROFIT THROUGH EDUCATION
136 North Grand #208
West Covina, CA 91791
1-800-352-3288
E-mail: papaisrich@yahoo.com
www.helpus2helpyou.org
Notes:
www.OREIA.com
Teaches Financial Workshops to Youth and Parents
Economics- Micro and Macro
Have the mind of an “entrepreneur” not an “employee”.
Wholesaling can be the best way to start investing because it requires little to no
start up costs.
My two kids (sophomores in high school) are millionaires because of the deals
they’ve done.
The secret to being rich…
Watch what the poor people do and don’t do it.
Watch what the rich people do and do it.
Industrial Mindset-
1) Go to school
2) Get an education
3) Get a good job
4) Work 45 years 9 to 5
5) Put your money in CDs and Mutual Funds
8 out of 10 millionaires in this country are self made.
8 out of 10 millionaires hold most of their wealth in real estate.
The wealthiest people in the world are the biggest philanthropists.
My life was transformed 12 years ago by reading “Rich Dad Poor Dad”.
“As a man thinketh so he is.”
Birds of a feather flock together.
You can tell someone’s net worth by averaging their top 5 friends’ incomes.
Wealthy people carry journals.
A poor person should take a rich person to dinner and listen.
“A wise man lays up an inheritance for his kids kids.”
Short sales are usually “long sales” because they take forever.
Go with the flow…
Cater to your market.
When the market slows down, sell more creatively (Rent-to-own, etc.)
Wealth is created from chaos. The down markets is the best time to get started.
I’m investing in Detroit. Because it’s a buyer’s market.
Crabology 101:
-Can 10 crabs in a bucket get out if there’s no lid? No because they pull each
other down. People have a tendency to pull others down to their own level of
unsuccess.
“Help enough other people get what they want you’ll get what you want.”
A goal is a dream with a deadline.
FEAR- False Evidence Appearing Real
“Everything we want is on the side of fear.”
21-30 days to change a habit. Try to do things different.
www.jumpstart.org
Jump Start Questionnaire 7 out of 10 high school kids fail this test.
“How I retired at 26”
“Give more than what’s expected of you.”
www.mrlandlord.com
Jeffrey Taylor
Top 50 Entrepreneurial Colleges
www.Farrahgray.com
8-18-07
ANNOUNCEMENTS:
DEALS TABLE
APPLICATIONS AVAILABLE
VENDORS:
AARDVARK PEST CONTROL
FEATURED SPEAKER:
LUCY BRENTON
8906 East 96th St. # 169
Fishers, IN 46037
Phone: 317-332-5829
Fax: 317-596-1864
www.MoneyToGo.net
Lucy@MoneyToGo.net
“CREDIT REPAIR AND CORRECTION”
Handout & Power Point Highlights:
It’s becoming more and more important to have good credit since lenders are
tightening up.
www.mortgageimplode.com
The majority of investor loans need to meet FREDDIE MAC and GINNIE MAE
guidelines.
Prime is around 6.5% right now.
Universal Default Rate- your credit card companies have the right to pull your
credit at any point. If they see a high debt to limit ratio they can raise your rate to
29% (the universal default rate)
How many points?
Collections – 30
Judgments – 100
Inquiries – 10
Shopping for mortgages – you don’t have a “window” of credit pulls that don’t
affect your credit.
Rapid Rescores can be done to improve a tenant’s score in a short amount of
time with correction letters from creditors turned in to the credit repositories.
When you’re doing a mortgage for someone pull from multiple lenders because
the software used to pull scores.
Credit piggy backing- it is possible to use a friend, family member’s score to
boost someone’s score.
Fair Credit Reporting Act
-Passed by Congress to protect Consumers
-Regulates more than just Credit Reports
-Auto/Homeowners Insurance – C.L.U.E.
-Medical Information Bureau
-CAAPS used by airlines
Get a C.L.U.E. report- (shows any insurance claims against a house)
Comprehensive Loss Underwriting Exchange report.
Get one free from your insurance agent.
www.choicetrust.com copy
Ask Lucy about getting her stuff on MP3.
Opt out of the credit card offers… 1-888-5-OPTOUT
PAYDEX – Business Credit
D&B Dunn and Bradstreet
The score you want to shoot for is 80.
Build business credit with a Staples or Office Max card which almost anyone can
get.
TAX NEWS FROM NEIL:
Allen county is following the GRM.
Get your appeals in within the next 40 days.
2005 Schedule E/ Get the Gross Rent Multipliers
_______________________________________________________________
MAY 19, 2007
NIREA MEETING MINUTES
This was another great meeting. Our guests were brought to us by our
distinguished member, Neil Wingate. Our guests were Stacey O’Day and her
number crunching sidekick Michael. They spoke on number of different
subjects.
The first one was that the right to appeal an assessment has been extended for
30 days. The forms for the appeal process are located on their website www.co.
allen.us/ then select Assessor, as well as many other forms as well. If you
would like to talk to them just call them at 260-449-7123 or you can visit them
downtown at 1 E Main St. Room 104, City County Building. Ft. Wayne, IN 46802.
They talked about Trending, which you can get a good handle on it at their
website. Michael said that you could use the expenses on your property to get its
worth. Next, they stated that they were working diligently on getting assessments
caught up. The state has really dumped a lot of new guidelines on them.
Finally, we will be moving to our new location: the Allen County Public Library on
DuPont Rd. across from Kentucky Fried Chicken. Sorry, I just remember food
places easily. There will be no more opening and closing of annoying doors and
the beautiful elevator music over the speakers, (we could not turn it off) and don’t
forget the lovely noisy blowing smoke eater. The general meeting will be at 10:00
AM on the 16th of June. If you would like to serve in any capacity or share any
new ideas that can help us meet our goals with NIREA, join us at 8:00AM Well,
see you soon. BE THERE!!!!
Hey fellow investors, Indy is not the only thing happening in the state. Yes, there
is real estate in this part of the state as well. If you have any ideas or specialties
in real estate tell us about them. Everyone would love hear some fresh ideas,
that might put a boost to their real estate business.
Remember even if a deal doesn't happen there is still Integrity.
Come join us at our real estate investors club. Excitement is brewing.
As the crow says "there's not just corn in Indiana."
Visit the next meeting to see what all the excitement is all about.
P.S.
Over 45,166 homeowners filed bankruptcy to stop their home from going into
foreclosure in the last 30 days across the U.S.
And 9,978 more homeowners got kicked out of bankruptcy due to non-
performance of their bankruptcy obligations and are now heading toward
foreclosure.
How are these numbers great news for us investors?
Well, that just means lots of opportunity for deep-discount deals, pre-foreclosure
deals, subject-to deal, short sale deals, and more.
These numbers are increasing monthly and they are the number one reason why
many lenders are no longer offering 100% financing to people with less than 620
credit score.
And it's also the same reason why many sub-prime lenders are out of business.
Here are the top 20 cities with the most bankruptcy filed in the last 30 days.
City - Count - Total Percentage
Atlanta - 2377 - 4.31%
New York City - 2088 - 3.79%
Chicago - 2049 - 3.72%
Detroit - 1994 - 3.62%
Los Angeles - 1842 - 3.34%
Memphis - 1718 - 3.12%
Cleveland - 1440 - 2.61%
Dallas - 1332 - 2.42%
Indianapolis - 1163 - 2.11%
Philadelphia - 1120 - 2.03%
Birmingham - 1024 - 1.86%
St Louis - 983 - 1.78%
Nashvillle - 856 - 1.55%
Denver - 832 - 1.51%
Tampa - 818 - 1.48%
Miami - 655 - 1.19%
Houston - 635 - 1.15%
Milwaukee - 628 - 1.14%
Columbus - 622 - 1.13%
Las Vegas - 610 - 1.11%
Want to contribute to NIREA?
Help in any way you can. Just send us an email with your desire to help,
info@NIREA.org
Recap of Months
Bringing You Brilliant Minds and Ideas in Real Estate.
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Notary Service
Why pay for a traveling
notary?
Save time by bringing your
docs to the meetings for
convenient, free Notary
service. Members Only.
Why pay for a traveling
notary?
Save time by bringing your
docs to the meetings for
convenient, free Notary
service. Members Only.
- Deeds
- Power of Attorney
- Certified Copies
- Land Trusts
- Acknowledgments
- Assignments ,...
Verify ahead of time our
Notary will be present by
sending an email to
info@NIREA.org
Notary will be present by
sending an email to
info@NIREA.org
| Trolio's Stump Removal-Lawn Service Tree care, Odd jobs, ect. FREE estimates! Tel. 260.341.0249 dnptrolio@verizon.net |
| Trolio's Stump Removal-Lawn Service Tree care, Odd jobs, ect. FREE estimates! Tel. 260.341.0249 dnptrolio@verizon.net |
Northern Indiana
Real Estate Association
Real Estate Association
Northern Indiana
Real Estate Association
Real Estate Association
