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					 Make Money with

Real Estate Investing
                                Disclaimer



The ideas and concepts taught in this book are to be used for study and

discussion. Although they may work in the real world, there is no assurance or

guarantee that they will be effective in every situation. The author does not

assume any risk or responsibility for the contents and ideas of this book when

used in a manner resulting in loss, lawsuit or death. It is our further assumption

that the user of this material is of sound mind, knows and understands the

English language.
                                      Introduction




Congratulations on your purchase. You have already surpassed 95% of the people who

simply sit on their couches every night and complain about the world wishing for a better

life. You actually took action.




So you want to make money in real estate? Let’s get to it!




What you have in your hands if some of the most cutting edge, up to date real estate

methods ever created.




So just how powerful is this information? Well you could take a homeless BUM off the

street and give him this book, and he would have the potential to be a millionaire in less

than 3 years.




There are countless books on real estate marketing out there on just about every topic.

This book is about going from beginner to closing your first deal and profiting Big. This

is a step by step blueprint for real estate investment success!
Before we get down to the details, let’s take a closer look into this millionaire making

investment vehicle call Real Estate Investing.




Does investing in Real Estate still make sense?



This is a question that most of the people always probe into when investing in areas

arises. This Book deals with many such questions that sought to answer the question;

whether the property industry is worthwhile in comparison to the stock market.




In addition, it also provides guidelines about the property pointer that need to be kept in

mind while purchasing or selling a plot, as well as the crucial aspects of real estate

investment that one must remember while entering this industry.




This book is a step by step guide to one who wants to put their investment into

profitable gains for future. Also, there is demographic reasoning that makes these

predictions stronger.
Chapter One



Why Real Estate Offers You the Best Route to Getting Rich Slowly and Surely



Many people think someone is wealthy because that person owns a lot of things. The

truth is, you can go broke owning things that don’t generate income. If you’re going to

be both rich and poor, be poor first and rich later. Going from rich to poor is miserable!




You need to develop a whole new definition of wealth. Wealth is an income stream. This

program is going to show you how to buy property so that it shows a cash flow right

from the start. More like an income trickle at first, but it will grow into an income stream

and maybe end up as a torrent of wealth.




Becoming a millionaire is very simple. All you need to do is take a dollar and double it.


What’s exciting is when you hit about 20 times. Think about it. After four doubles, you’ll

have only $16, but after 10 your total will be $1,024. Then it really begins to snowball,

which is exactly the way your real estate portfolio grows — and by the time you’ve

doubled your dollar 20 times, you’ll have a total of exactly $1,048,576.




But simple is not the same thing as easy —and the truth is, very few people know how

to double a dollar.
Why is it so hard to double the dollar?


Because our education system teaches us how to earn money, not to generate income

by investing.




This book will show you how to go beyond that way of thinking, and completely change

your life!




What does that require? Well, you need to start seeing yourself as an investor rather

than a laborer. Laborers sell their time to earn income. Investors acquire assets that

generate income.




There’s a big difference — and the key to making it happen is the principle of leverage.




This is why so many people with good intentions give up without ever realizing the goal

of becoming wealthy. They try to use their labor to get the money, and they just can’t do

it.
Compare that with the way leverage works. If a man selling widgets hires two other

people to sell for him the first week and gets each of them to recruit two others the

second week, and so on and so on, within a few weeks he could have thousands of

people selling widgets all over the world and become very wealthy. ―But wait a minute,‖

you say. ―That’s a multilevel scheme like network marketing companies use, isn’t it?‖




Well, it’s similar, but network marketing uses the principle of leveraging people’s labor

rather than assets. When you own rental properties, you are leveraging assets that give

you a down- line of people, but instead of going out and selling soap or cosmetics, they

are tenants who live in your properties, go to work for someone else, and earn money to

pay off your mortgages.




Instead of being a slave to a weekly paycheck, you are providing a way for other people

to help you get rich. Even if you buy only one rental house a year, each purchase allows

you to benefit from the labor of another person, and this will eventually make you rich. It

won’t happen overnight, however, but slowly and surely it will happen. And in this book

I’m going to show you exactly how to make it happen!




• You’ll learn why buying right is far more important than buying often.


• You’ll see why the income stream your properties generate is far more important than

the number of properties you own.
• You’ll be taught a way to value properties so that your investments generate

continuous revenue.


• You’ll discover why the price you pay for a property is not nearly as important as the

cost of owning it.


• You’ll see how you can turn a trickle of income into a flood by raising rents just a small

amount each year.
Chapter Two


Real Estate Investment: The Smart Choice




There are many reasons why investing in real estate is such a great way to achieve

wealth, but the two biggest reasons are leverage and tax benefits.




LEVERAGE


Leverage is simply the power to control a large investment with a small amount of

money. For example, you can leverage investments in the stock market. If you have

$10,000 to invest, you can purchase up to $20,000 worth of stock. That’s a 50% margin,

which is the most the government will allow.




With real estate, on the other hand, people regularly achieve a 90% margin. They do

this anytime they buy property with a 10% down payment and a 90% loan. Why is it

easy to borrow 90% or more to buy real estate, but only 50% to buy stocks? Good

question! It’s because the risk of real estate going down in value is very low and the risk

of stocks going down in value is very high. Stockbrokers will tell you that a good day on

the stock market is when only one-third of the stocks go down in value, and two-thirds

go up.
Let’s say that you buy a house for $100,000, pay $10,000 down, and take out a loan for

$90,000.Now you control a $100,000 asset but have invested only $10,000. If you rent

the house for enough to cover the mortgage payments and expenses, and if the house

appreciates in value 5% per year, in two years, it will be worth over $110,000. The

mortgage will have probably paid down $1,000 to $2,000. Let’s say you could sell it for

the $110,000. After you paid off the mortgage, you would have between $21,000 and

$22,000 instead of the $10,000 you originally invested.




What was your return on investment? You bought the property for $100,000 and sold it

two years later for $110,000. Many people would say your return was 5% per year or

10% total, but that’s all wrong. Here’s why! You originally invested $10,000, which was

your down payment.




You borrowed the rest and your tenants made the payments while you owned the

property.




When you sold it, you got back between $21,000 and $22,000, which was the difference

between the sale price and what you owed. This means your actual return on

investment was between 55% and 60 % per year! Not bad huh?
But here’s the beauty of the program. You don’t sell the house. Instead, you take

$10,000 of the equity out of the first house and use it to buy a second one, and the

whole process starts over again — except now you have two assets going up in value

and two tenants paying down mortgages.




Property versus Stocks


The example of two people investing in Property and Stock reveals that Real Estate is

always a better choice for investing.




What about Bonds?


Bonds earn more annually when compared to Stocks, yet they always lag behind than

the property returns. The property industry would always favor an investor as the

income will increase as rents of properties tend to rise higher in future.




Don’t fall for Annuity Sales Pitches?


These have a significant inflation risk. Nevertheless, they also chew down your capital.

In addition to the expense loads and fees. Most people find it difficult to use any

annuities to be able to get a dependable and sufficient source of income. The worst is
when you decide to get in and then if you want to get out, you might end up paying a big

price on your way out.




Are rent collections dependable?


When you read through this book and learn about the various policies and practices

involved in renting properties in comparison to other rental properties who offer inferior

rentals. You will be able to get a low turnover, a high tenant retention and a huge list of

people who will be waiting to choose your property over other properties in the market.




Review your market: Run a check on your local rental areas and view the market

prices. You will find that any well kept, good priced houses don’t remain available to

many people. Only the houses that are maintained very badly and that are found in bad

locations may suffer from not being vacant most of the time.




Beware of Superficial “Market” Vacancy Rates: Vacancy rates and rent concessions

refer to 1) apartment complexes 2) ill maintained properties. The popular news that

vacancy rates have been rising is not true for the kinds of property that you will be

owning. Therefore, don’t read too much of these news and get carried away by it.




Why Rents will continue to increase?
The four reasons why:


1.     Population Growth- The rate of population growth will significantly aid in the

increase of tenancy and need for houses to live in.



2.     Household Growth- In addition to the overall growth in the population, the

number of people in every household will also increase, which means that there will be

more houses in demand.



3.     Incomes- corresponding to the requirement to be able to maintain a big

household, people begin to earn a lot of money. Which in turn will help the economy

also to grow.



4.     Second Homes- 9 million of the households in America have been option to have

a second home. This number is expected to double over the coming decade.




TAX BENEFITS


Let’s take a look at the other huge advantage offered by real estate investing: tax

benefits. There are four main benefits you can get from the government when you

invest in real estate.
First, the income you receive in the form of rent is not subject to Social Security or self-

employment taxes as the money you earn working is. This break alone gives you very

favorable income tax treatment.




Second, each year you can deduct a portion of the cost of buildings and personal

property from the income you receive from renting the property. This is called

depreciation and may be deducted even though the buildings are probably going up in

value.




Furthermore, if the property shows a loss after deducting operating expenses, mortgage

interest, and depreciation, within limits, you can use this loss to offset taxes on money

you earn on your job.




Third, if you decide to sell the property, you can defer paying income tax on your profits

by using them to purchase another real estate investment within certain allowed time

frames. You can actually avoid paying taxes altogether on the profits if you live in the

property for two of the five years prior to selling it.




And fourth, if you sell a property you have owned for 12 months or more and just want

to keep the profit, it is taxed as a long-term capital gain at a rate of 20% or less. When
you compare this with rates as high as 39% on money you earn from your job, it is a

tremendous tax break.




Not only does leverage allow you to show some incredible returns on investment, but

also the tax benefits allow you to keep a much greater percentage of the money you

make.




Another great advantage of real estate is that it’s a terrific hedge against inflation; in

fact, it may well be the best hedge. That’s because its value nearly always increases at

or above the inflation rate. Let’s say you buy a property today for $100,000 cash. It may

appreciate in value 5% a year for 10 years, during a time when inflation averages only

3%. If this happens, the property will be worth over $163,000, when another investment

that matched the inflation rate would be worth only about $135,000. Your real estate

investment would have beaten inflation by $28,000.




By the same token, if you had put the $100,000 under your mattress, your cash would

buy only about 65% of what it will buy today.




What if, instead of paying cash, you paid 10% down and financed the balance. You

would start with $10,000 in equity. If you rented the property so that your tenants

covered all of your expenses, in 10 years your $10,000 equity would have grown to
$73,000, and that’s before you add the thousands of dollars by which you paid down the

mortgage. If it only paid down $27,000, your equity would be $100,000, or 1000% of

your initial $10,000 investment. Are you beginning to get the picture?




Can you see how buying just one property like this a year can make you a millionaire

before you know it?




The beauty of it all is that the higher the inflation rate, the greater your growth in value!

But there’s still more! While the value of the property is going up, so is the monthly rent.

As the rent increases and the mortgage pays down, you get to start enjoying the extra

cash flow this produces. Now can you see how owning real estate is the best hedge

against inflation that you’ll ever find?




Here’s another thing to think about. Every month, on every property you control, you will

be slowly paying down the mortgages, or will you? Since you will make your payments

from the rent you receive, your tenants will actually be paying off the mortgages.




But First, the Reckoning


Many stock market investors think that they are ready to invest in real estate. There are

three main false beliefs that deter these investors.
Three False Beliefs:


1.     The Perils of land lording- most people are under the impression that if they are a

landlord then they have to spend their Saturdays fixing the houses that they are renting

out.



2.     Stocks for the long run- investors are deterred also by the myth that the stock

markets will outperform any other investments in the future.




3.     Property prices have appreciated too much- many experts believe that the rise in

the property value from 50% to a hundred percent would mean that it would drop

drastically very soon. This is also a myth.




The Relevance of Property Appreciation


Investors focus on expected returns on quality classes. Indeed, real estate investment

has grasped many. Lots of returns are earned in this.
Here’s How the Numbers Work: Property investors use simple formula


                               NOI (Net Operating Income)


                       Value=-----------------------------------------------


                                    R (capitalization rate)




Cash yields plus higher Rents Unlike Stocks where only the cash yields are expected,

this also provides higher rents.




The Interest Rate Kicker


Nominal Interest Rates When compared to the rates for the past 30 years, off late they

have dropped down drastically.




CPI Adjust (Real) Rates Adjustment of nominal interest rates to annual rate of increase

is necessary to understand whether interest rates are high or low.




Here’s the Good News: Even Higher Interest Rates Can Spur Greater Property

Appreciation. Property prices could fall but not necessarily. When interest rates gained

high the appreciation rates became strong.


Here’s why:
More Inflation, Higher Building Costs


Inflation risks the rise in interest rates and therefore also increases the costs for

construction, a problem that is passed onto the builder. People who are going to buy

property also begin to go back. Properties that are already built begin to do very well.

Whereas properties that are in the process of being built don’t do as well.




More Inflation, Investors Flee to Hard Assets


When the Federal Reserve signals that the inflation might occur, the prices of stocks

and bonds start soaring. Investors start to run away from securities of Wall Street

toward real estate.




More Inflation, Higher Rents, Greater Profits


As a result of inflation, you will be able to do really well as an investor owning your own

property. This is because people will be willing to pay higher rents for the properties that

they are staying in.
Chapter Three


Real Estate Investing 101




Let’s get started with one of the most important facts about real estate. It’s also the most

obvious! Prices vary tremendously, not just from one part of the country to another, but

even within the same state, and often within the same town.




I will remind you that what makes property valuable in one place — like size — might be

totally different from what creates value elsewhere — like the location. In some places,

for example, rental rates, compared to purchase price with, are very high. In these

markets, you may be able to buy at market prices, pay the going rate for financing, and

still have positive cash flow. However, in most areas, rental rates are low when

compared with purchase prices. In those markets, you have to search for wholesale

prices, or find unconventional financing, or both, if you expect to rent the property for

enough to cover expenses and make a profit.




With all the variables to consider when evaluating properties, let’s start out with a few

principles that don’t vary.
First, it’s nearly impossible to be a successful investor if you buy at retail prices and

finance at retail rates.




Trying to do that would be like saying, ―I’m going to go into the car leasing business,

and I’m going to pay full sticker price and finance company rates when I buy my cars.‖ If

you did that, it’s a guarantee you wouldn’t get rich. So if you want to become a Real

Estate Investing Millionaire, you have to learn how to buy houses at wholesale values

and negotiate favorable financing — and that’s exactly what we’re going to teach you in

this program. Each property is different and each seller is unique. That’s why you can’t

make blanket assumptions about whether the numbers will work in your community. To

become a real estate investor, you have to evaluate each property on its own merit and

value it based upon the criteria we are going to teach you in these sessions. If it doesn’t

measure up, keep looking.




The second hard and fast rule is you must show a profit the first year. The most

important thing for you to learn as a new investor is that when you buy a property, you

need to structure the purchase so that it’s profitable right from the beginning. If you buy

a property and it doesn’t show a profit from the time you purchase it, you probably paid

too much.
The third principle is to not buy properties unless they will give you a positive cash flow.

In other words, don’t gamble on escalating market conditions to improve the financial

picture.




The fourth rule is that most houses can’t be bought at wholesale. Don’t let this

discourage you. For every offer you make that is accepted, you will make dozens that

are rejected. Just be patient and keep in mind that buying just one house a year can

make you rich.




The fifth principle is that the best deals often come with the most problems. You’ll find

some of your best buys from sellers who are in difficult financial situations. You’ll enjoy

the story in the audio program about how a divorced couple’s problems were resolved.




What about people trying to dispose of inherited property? Many times these are

properties other investors overlook because they don’t learn how to help sellers solve

their problems. A real estate investor learns to recognize these diamonds in the rough

and polish them into beautiful investments.
Principle number six is that you need to keep emotion out of the equation! Don’t fall in

love with a property and let your heart rule your head. Make each real estate offer an

investment decision in which the numbers have to work. Just remember the difference

between wholesale and retail in real estate is often emotion.




The seventh principle is that you need to have a plan and stick to it. We’re going to

teach you the techniques you’ll need to develop your own investment plan. Use that

information to establish the goals and benchmarks that fit your personal situation. Once

you create your plan, let it guide your investment decisions. Don’t be tempted by the

occasional property that looks good but doesn’t quite mesh with your plan.




The eighth and final principle is that you must be wary of the lure of a quick buck. This

program is not a get-rich-quick scheme — but a get-rich-slowly-and-surely plan of

action. That’s the last principle in this little sequence, but it’s really the foundation upon

which the whole program is built. We don’t want you risking your future; we want you to

secure it.




EVALUATI NG P OTENT IAL REAL ESTATE PURCHASES


The first step, of course, is to learn your market. The best way to do this is to get out

and start driving through neighborhoods where you think you may want to invest. Talk

with people!
Gather information about the communities and look for houses that are for sale. Watch

for open houses that listing brokers often hold and use these to start looking around

inside some of the homes. Observe neighbors to see if they take good care of their

property. Ask around to get a feel for what properties are worth in the neighborhood.




Exercise: Target Some Properties


Find a map that covers the territory where you plan to invest. This could be a city map,

a county map, or any other map that covers the area. The more detailed the map the

better. When you locate neighborhoods with what we call bread-and butter-properties —

these are basic starter homes mark them on the map. Keep riding around until you’ve

successfully marked all of these neighborhoods that lie within your area.




Once you’ve done this, find a place where you can display the map. Hang it on a wall,

put it under a glass on your desktop, or place it anywhere that you can easily refer to it.

You will use it to help you schedule regular and efficient visits to your target

neighborhoods. By referring to this map, you can set up rides that let you visit more

neighborhoods with less wasted travel time. This lets you use your limited spare time

more efficiently.
The area within 10 miles of where you live encompasses over 300 square miles . . .

that’s more than 200,000 acres. Hard to believe, isn’t it? Unless you live in the middle of

a wilderness, there are probably dozens of neighborhoods with median-priced houses

within this area. If you live in or near a larger city, there could be hundreds of these

neighborhoods. Your task is to get out and find them. The more of them you can locate,

the more successful you will become as a real estate investor.




I’ve found some properties. Now what?




Once you’ve done this and made a list of properties that look attractive to you — how do

you know if they’re good investments? Well, here’s how you make that determination.




First, you need to do a thorough inspection of the exterior and interior of a house. Here

is a form that you can use for this purpose.
PROPERTY INSPECTION CHECKLIST



PROPERTY ADDRESS _______________________________________________

UNIT#___________________

OWNERS NAME ____________________________________________________

PHONE#________________________

OWNERS

ADDRESS_________________________________________________________



CONDITION

LIVING ROOM

Walls_________________________________________________________________

Ceiling________________________________________________________________

Floors________________________________________________________________

Windows______________________________________________________________

Doors_________________________________________________________________

Fireplace______________________________________________________________



DINING ROOM

Walls_________________________________________________________________

Ceiling________________________________________________________________

Floor_________________________________________________________________

Windows______________________________________________________________
Doors________________________________________________________________

Lighting_______________________________________________________________




KITCHEN

Walls_________________________________________________________________



Ceiling___________________________________________________________

Floor____________________________________________________________

Windows_________________________________________________________

Doors___________________________________________________________

Range/Oven______________________________________________________

Dishwasher______________________________________________________

Trash Compactor______________________________________________________

Sink_____________________________________________________________

Cabinets_________________________________________________________



FAMILY ROOM

Walls____________________________________________________________

Ceiling___________________________________________________________

Floor____________________________________________________________

Windows_________________________________________________________

Doors___________________________________________________________
Fireplace_________________________________________________________



BEDROOM #1

Walls____________________________________________________________

Ceiling___________________________________________________________

Floor____________________________________________________________

Windows_________________________________________________________

Doors___________________________________________________________




BEDROOM #2

Walls _________________________________________________________________

Ceiling_____________________________________________________________

Floor__________________________________________________________________

Windows______________________________________________________________

Doors_________________________________________________________________



BEDROOM #3

Walls_________________________________________________________________

Ceiling________________________________________________________________

Floor__________________________________________________________________

Windows______________________________________________________________

Doors_________________________________________________________________
BATHROOM #1

Walls_________________________________________________________________

Ceiling________________________________________________________________

Floor_________________________________________________________________

Doors_________________________________________________________________

Toilet_________________________________________________________________

Tub/Shower____________________________________________________________

Basin_________________________________________________________________



BATHROOM #2

Walls_________________________________________________________________

Ceiling________________________________________________________________

Floor_________________________________________________________________

Doors_________________________________________________________________

Toilet_____________________________________________________________

Tub/Shower_______________________________________________________

Basin____________________________________________________________



ELECTRICAL

Fixtures___________________________________________________________

Outlets/Switches____________________________________________________
Smoke

Detectors_________________________________________________________



PLUMBING

Hot Water

Heaters________________________________________________________

Water

Pressure__________________________________________________________

Leaky

Faucets___________________________________________________________

Heating

System___________________________________________________________



EXT. OF BUILDING_____________________________________________________

_________________________________________________________________



FOUNDATION_____________________________________________________

_________________________________________________________________



ROOFING

______________________________________________________________

_________________________________________________________________
DRIVEWAYS______________________________________________________

________________________________________________________________




SIDEWALKS___________________________________________________________

______________________________________________________________________



LANDSCAPING_________________________________________________________

______________________________________________________________________



FENCES/WALLS________________________________________________________

______________________________________________________________________



NEIGHBORHOOD_______________________________________________________

______________________________________________________________________



COMMENTS___________________________________________________________

______________________________________________________________________

______________________________________________________________________

______________________________________________________________________
Discounted Property Location Quick Tips



WHY PROPERTIES SELL LESS THAN MARKET VALUE?


There are factors that influence market value, such as less motivated buyers or sellers,

unusual sales concessions, unusual purchase terms, etc.,




Owners in Distress


The owners are left in Distress due to the less market value. As they cannot make a

sale that would make them lose the properties sale value.




The Grass is Greener Sellers


Most sellers, tell tales of the ―grass is greener‖ to buyers to ensure a sale, thus while

buying all the features need to be checked for accuracy.




Seller Ignorance


In an attempt to push the sales, the seller at times may ignore prominent features which

may be good, at most times these ignored facts proved to be bad for the buyer. Hence,

accuracy must be taken by the Seller to mention all the features and the buyer too must

be able to check them.
LIST YOUR SCREENING CRITERIA


Always list out things that need to be checked, while purchasing a property; this would

prove fruitful as this list would not allow one to miss out on any essentials.




APPRAISAL: HOW TO DISCOVER GREAT PROPERTIES

With the knowledge acquired so far, one could find ways to finance properties, but to

buy properties its value ahs to be found out accurately.




MAKE MONEY WHEN YOU BUY, NOT JUST WHEN YOU SELL


Buying of property reduces risks and increases great returns. When you buy property in

the long term it appreciates which means that it gains more value over time.




WHAT IS MARKET VALUE?


Sale price or the nominal price of the property refers to market value. The market value

is equal to the sales price when the negotiations that are made with regards to the

property remain the same with both the buyers and the sellers.
Sales Price doesn’t necessarily equal Market Value


Usually sellers hike the prices of properties for sale, in an attempt to gain profit. Thus,

the sale price does not reflect the Market Value.




Lenders Loan only against Market Value


They also provide loan against market value, rather than purchase value. The inherent

danger in this is that the lender appraisal must be accurate, as most people are

deceived by their colorful appraisal.




THE THREE APPROACHES TO VALUE


1.       Cost Approach


2.       Comparable Sales Approach


3.       Income Approach




PROPERTY DESCRIPTION


This should include the features of the property, neighborhood, Estimate of the price,

etc. and this should be done in order to find the exact estimate of the property’s selling

price.
Subject Property Identification


Though this sounds plausible, it must be verified for accuracy too.




Neighborhood


The neighborhood throws light on the property in all aspects, as the same utilities would

be available even for the property that is being sold. Therefore a thorough investigation

of the neighborhood helps in identifying the value of the property.




Site (Lot) Characteristics


The size and features of the property, also must keep in mind its current and future

value. Check on the legal conditions of the property.




Improvements


While purchasing a plot, one must keep in mind its shortcomings and see to things that

would need improvement.




THE COST APPROACH


This lets one know if we could build in the existing site, or buy a new one. In the sense,

makes us aware of the availability of finance.
Calculate Cost to Build New


This lets us calculate the income to know whether we could build a new building or have

to make do with the old one.




Subtract Depreciation


One must be able to eliminate any hurdles that hinder the purchase be it physical,

functional or external factors.




Lot Value


The cost of the site or lot for sale, where you should keep in mind factors such as

neighborhood or locale.




Estimate Market Value (Cost Approach)


An estimated value can be tagged for the lot, this must include the features if any; such

as a porch, or a well, etc. to be able to value the property precisely.
THE COMPARABLE SALE APPROACH


This provides best market value for townships, etc.




Select Comparable Properties


When a lot that resembles the one for sale can be compared to another, this obviously

helps one understand the situation better. It can be rather difficult to find perfect

matches, however, so it needs to be some sort of an approximation the majority of the

time.




Adjusting for Differences


The values are adjusted up and down to suit the subject property.




Explaining the Adjustments


The Seller must be adapted to explain the adjustments to the buyer: the reasons for

adjustments, the differences and the subject property differences.




THE INCOME APPROACH


This approach is based on the Income the property would generate, and this also is

sometimes adjusted to the buyer’s financial capability if necessary.
INCOME CAPITALIZATION


The income of the property would be used a capital for future benefit.




Net Operating Income


These depend on factors such as gross annual rents, utilities, advertising and promotion

fees, maintenance and repairs.




Estimating Capitalization Rates


The seller must be able to approximation out the capital rates, so that it is better for

sales.




Comparing Cap Rates


The rates of other properties must be compared so that one could estimate the proper

rate of the saleable property.




The Paradox of Risk and Appreciation Potential


The tendency of risks, such as low interest rates and no prospects of sales.
Always compare relative price


As discussed earlier, compare other property prices.




VALUATION: FINAL WORDS


All the discussed point need to be kept in mind when valuation of a lot is done.




Appraisal Limiting Conditions


These have to be kept in mind when providing appraisal reports.




Valuation versus Investment Analysis


The valuation of the property must be compared with the investment to think of future

returns.
BARGAIN SELLERS


Here are 5 techniques:


1.    Networking


2.    Newspapers and other publications


3.    Cold call owners


4.    Real estate agents


5.    Internet




SELLER DISCLOSURES


The seller must clearly demarcate the features whether good or bad in to the buyer as

this would avoid unnecessary hue and cry.




The Disclosure Revolution


1.    Seller must disclose facts of the property be it good or bad.


2.    Must reveal past.




Income Properties


Before Purchase one must verify rental details and expense details.
Chapter Four


Financing: Borrow Smart, Build Wealth




Most investors used borrowed money to make investments. Smart borrowing refers to

the extravagant returns, which lead to the building of wealth.




THE BIRTH OF “NOTHING DOWN”


Many books have been written in this topic which throws light on the gain in returns. But

all of them profess just a similar thought one can buy NOTHING DOWN, but the means

is the question whether by cash or credit.




Manage your Risks Several lessons can be learnt from investors’ bad experiences


1.     You should never expect the value of your investment to increase by 10 – 20

percent every year.


2.     You should always be aware of negative cash flow.


3.     You should never overextend yourself to encourage lower net income from what

you will get out of the property.


4.     Even if the financing service looks nice and appealing, you should not overpay

for a property that you have set your eye on.
To manage high leverage finance, six safeguards are provided:


1.     Buy-bargain priced properties to build a financial cushion.

2.     Buy properties that you can profitably improve creatively, sweat equity wise,

remodeling and though renovation.

3.     Buy properties with below market rents that you can raise to market levels within

a relatively short period.

4.     Buy properties with low interest financing like mortgage assumptions and

adjustable-rate mortgages.

5.     Buy properties in upcoming neighborhoods that are soon to be revitalized which

will help in lifting property values by 20 or by 50 percent over 3 – 5 years.

6.     Reduce risk of high leverage to a comfortable level by increasing your payment

to get a lower loan to value ratio and thus lower the monthly mortgage payments.




What are your risk return objectives?


With smart borrowing you make scathe heights in returns but it is risky business. When

you get into high leverage, a small drop I the rents might mean that you will face

negative cash flows. You should carefully decide the profits that are worth your time and

money in pursuing and the risks that are involved in the investment.
      MAXIMIZE YOUR LEVERAGE WITH OWNER-OCCUPANCY FINANCING


Through the use of Owner occupancy mortgage, loan programs, etc. to be able to get

into easy, safe and sure ways to borrow all the money. Along with this a lower down

payment will help lenders to qualify owner-occupants with less exacting standards.
Chapter Five


Negotiate a Win-Win Agreement




Negotiators usually opt for three styles for negotiation: 1) adversarial 2) accommodating

and 3) win-win. We should concentrate on the third style that is a mix of the first two

styles. These negotiators always aim at a strong and beneficial agreement.




WIN-WIN PRINCIPLES


1.     Find common interests.


2.     Make it cooperative enterprises.


3.     Negotiation must be stopped at a proper time.


4.     Objections and arguments of seller must be listened to.


5.     Substantiate with logical and practical reasons.


6.     Think before giving a decision.


7.     Stay Realistic.


8.     Don’t concede easily.


9.     Beware of oral concessions
10.   Check risks.


11.   Stockpile Information Early.


12.   Control the reference points of negotiation.




THE PURCHASE CONTRACT


The following items should be clearly marked in the contract:


1.    Names of Parties


2.    Site Description


3.    Building Description


4.    Personal Property


5.    Price and Financing


6.    Earnest Money Deposit


7.    Quality of Title


8.    Property Condition


9.    Pre-closing Property Damage(Casualty Clause)


10.   Closing(Settlement) Costs


11.   Closing and Possessions Dates
12.   Leases


13.   Contingency Clauses


14.   Assignment and Inspection


15.   Public Records


16.   Systems and Appliances


17.   Environmental Hazards


18.   No Representations


19.   Default Clause
Chapter Six

Getting a Rapid Quick Start



This chapter is all about taking action toward building wealth through real estate

investment. You may not know everything about investing, but that’s ok, that’s what the

professionals who will work on your behalf are for. The key is to take action.



It’s very exciting — but be patient. Becoming a Real Estate Investing Millionaire is not a

get-rich-quick proposition. This blueprint will cover eight weeks of ―in the field‖ learning

and activity. It’s all designed to build your knowledge and to hone the skills that you

need to make your first purchase. Remember, when it comes to the actual contracts

and forms it’s best consult a local real estate attorney. If you’re serious about being an

investor, you are going to need a good real estate attorney anyway. This is a great

opportunity to get to know them and build a relationship where you can use them on

future real estate deals. If you are concerned about cost, don’t be. TRUST ME, it’s far

more expensive to download a contract for Wyoming and you live in New Jersey

causing your deal to fall apart, and causing you to get sued for tens of thousands of

dollars.



Above all, don’t get discouraged if you fail to see immediate results. Stay calm, remain

positive, and follow the steps we give you. See yourself as the wealthy real estate

investor that you will become. Imagine yourself driving down the streets of your

neighborhood, pointing out all the houses that you own.
Think of real estate investing as a long-term, steady-growth proposition.



Many people work 40 hours per week, 50 weeks per year, for 40 years, and end up in

retirement with only a small Social Security check to show for their efforts. If you spend

four hours each weekend, for just one year, you should have no problem buying at least

one rental house. In 15-20 years, this one house will probably provide you with more

income than you will draw from Social Security when you retire.



What if you continued doing this for 15 years and bought just one house per year?



If you started at age 30, by age 45, you could retire and live the good life with an income

many times what Social Security would pay you. That’s why we want you to keep

exploring your neighborhoods and making offers. Don’t get discouraged if things seem

slow at times. When you’re waiting for wholesale deals, you must have the endurance

to stay the course until the time is right. The best part is that when you land a good deal,

it will pay you for the rest of your life, and unlike Social Security and retirement plans, it

will be there to provide for your family long after you are gone.
WHAT TO DO IN YOUR FIRST WEEK

Now — let’s assume it’s a Saturday morning and you’re ready to get started. You’re

ready to take this book from the planning stage into the action stage. What do you do

first?



This weekend, you’re going to start learning your market. You need to allocate at least

four hours to survey your surroundings. Your only task this weekend is to familiarize

yourself with the area near where you live. Once you get started, you may want to

spend more time, but just four hours will give you a good start. In most cases, there is

enough investment potential within a 10-mile radius to make you rich.

This is far more than a casual drive-through. Take along a pad of paper and a pencil so

that you can make notes. Look for basic starter homes, the type that attract first-time

homebuyers. These are usually 900 to 1,200 square feet in size with two to four

bedrooms and one or two baths.



Probably, you’ll find these in subdivisions that contain many similar-type houses.

Occasionally, you may find them scattered about, but most will be located in

subdivisions where developers have subdivided a large tract of land and built them to

sell. People will have bought many of them and financed the purchase with VA or FHA

loans. This is important, because these loans are still assumable.



On this first weekend, thoroughly explore the area within a 10-mile radius of where you

live.
You’ll need a detailed map of the area if one is available. As you drive around, get off

the main roads. Go down each side street and back road looking for subdivisions.

Consult your map to locate street grids that look like subdivisions. Each time you find

one containing a number of these basic starter homes, make a note of it and mark it on

your map. You will come to view these target subdivisions in much the same way that a

farmer views his fields. Just as he cultivates and harvests crops from the ground, you

will cultivate and harvest your first real estate investments from these neighborhoods.



By the end of the weekend, you should have a list of the potential neighborhoods you

want to farm.



Steps for Weekend One

1) Get a map of your city and draw a circle covering a 10-mile radius around your

house.

2) Drive the area for four hours, looking for subdivisions of neighborhoods that meet

your criteria.

3) Mark the locations of potential first-purchase homes on your map.
WHAT TO DO IN YOUR SECOND WEEK



On your second weekend, you’re going to take the list of neighborhoods you compiled

and learn more about them. Pick one neighborhood — which one doesn’t matter,

because eventually you will work your way through all of them. Go to your selected

neighborhood and ride around.



Observe how the properties are maintained and the lawns kept, watch for signs of

children, look for vacant houses and ―For Sale‖ signs, survey the age and condition of

vehicles parked in driveways or on the streets, and most importantly, look for people

with whom you can talk.



What you’ll be doing during this exercise is determining whether the neighborhood is a

place where you will want to invest.



Properly maintained homes and well-kept lawns are a good indication that most of the

residents are homeowners that take pride in their community. Swing sets, bicycles, and

toys are indications of families with children.



If you find very few vacant houses, it shows that the neighborhood is desirable. A

shortage of ―For Sale‖ signs indicates a stable neighborhood.
Clean, well-maintained vehicles indicate that the residents take pride in their personal

possessions as well as their property. Investing in neighborhoods like this has many

advantages.



They are easier to rent and easier to finance, and you enjoy the benefit of having

neighbors who will let you know if your tenants are not well behaved or are not taking

care of your property.



On the other hand, poorly maintained houses, overgrown or barren yards, numerous

vacant houses, a predominance of ―For Sale‖ signs, and disabled or unlicensed vehicles

give you important warning signs. Neighborhoods in this condition are often declining in

value, and the unattractive surroundings make it difficult to attract desirable tenants.



Many times, these neighborhoods contain unusually high percentages of rental

properties owned by people who invest little in maintenance and upkeep. Buying in

areas like these can be risky business, unless you are able to buy enough of the houses

to change the direction of the neighborhood.



What is your ideal find? What should make your heart race a little faster? You’re looking

for a rundown house in a great neighborhood.



When you find one and stand there looking at it, what are you seeing? You’re looking at

a property whose owner may be an ideal seller. When you do an Internet search to find
out who owns the property, you’ll probably find a seller who lives out of town, is going

through some trauma such as a loss of a job or a divorce, or is in some kind of financial

trouble.



Continue exploring. Get a Multiple Listing Service book from a real estate agent or

property manager. Some Boards of Realtors publish a book each week that lists all of

the properties for sale and includes pictures of most of them. Some Boards of Realtors

have discontinued these in favor of Internet listings, but there is always a way for real

estate agents to look up properties for sale. Ask a real estate agent which method his or

her board uses. If it’s a book, ask him or her if you can have or borrow his or her

previous week’s book for your research. They are not supposed to give it away, but

we’ve never had a problem getting one. Also, learn how to research properties for sales

on the Internet. Try www.Realtors.com, which is the website for the National Association

of Realtors®. It contains a wealth of information. Try doing a search for real estate and

your city name. Also, many real estate brokers in your area will have their own

websites.



Although you can read newspaper ads and look through other listings of properties for

sale, these sources don’t usually give information about a property’s surroundings. This

is the reason we want you to get out, ride, and visually inspect the properties.



Whenever you locate a property in a desirable neighborhood that doesn’t seem to fit

with the surrounding properties, write it down. Whether it is for sale or not, it is worth
checking out because it may be an opportunity that just hasn’t surfaced yet.



As you ride your targeted areas, stop and talk with people you see in their yards or on

the streets. Ask if they live in the neighborhood. Let them know that you are interested

in buying in the area and were riding around looking at houses. If they are residents,

ask them what they like best about the community. Ask what they like least about it. Ask

if there are any problems that you should know about. Ask if they know of any houses

for sale that might be good deals.



Ask about the neighbors. Find out if most of them own their homes. Are there many

rentals properties in the neighborhood? If you’ve spotted some potential investment

properties in the area, ones that do not seem be up to par with the rest of the

neighborhood, ask about them.



Some of these may be great investment opportunities that simply have not hit the

market yet. If you can find these before other investors do, your chance of making a

good deal is greatly improved.



Let them know that you have to find a very good deal before you can buy. You may

learn about someone who is being transferred and is willing to take a big discount if they

can get a quick sale or be told about someone who has lost a job or suffered some

other kind of financial distress and needs to sell but hasn’t listed the property for sale

yet. People can become very flexible when going through a divorce or trying to settle an
estate. Many times the houses you spot that need attention need it because the owners

are experiencing problems. These offer excellent opportunities not only to help you, but

to help the owners as well. The more you ride, look, and talk, the more of these

opportunities you will find.




What to Do Your Second Weekend



1) Ride through one area designated on your map.

2) Speak with neighbors in that area.

3) Make inquiries about homes that might be for sale.

4) Identify potential purchases and find out who owns them.

5) Check the Internet to see if there’s information on homes for sale in your target area

6) Obtain a multiple listing book from a real estate agent or property manager. Review it

for

possible purchases in your area.
WHAT TO DO IN YOUR THIRD WEEK



You’ve spent your first two weekends getting familiar with the area you will be exploring.

You’ve located neighborhoods with a high predominance of basic starter homes, talked

with residents, and identified potential investment properties. It is now time to get ready

to start inspecting these properties and making offers. To prepare for this weekend, you

will need to do a little homework.



In preparation for this weekend, get out the phone book and check the yellow page

listings under ―Real Estate Management.‖ You should also check the newspaper

classified ads under ―Houses for Rent‖ and ―Apartments for Rent.‖ Property

management firms primarily use the yellow pages to attract owners and the classifieds

to attract renters. By cross referencing the companies advertising property for rent in the

classifieds with the companies in the yellow pages that claim to be property managers,

you will learn which seem to be the more active and aggressive companies. In

preparation for this third weekend, make a few calls and try to find two property

managers willing to spend a couple of hours riding with you on Saturday. Explain that

you’re planning to buy several investment properties within the area and are looking for

a manager with whom you will feel comfortable.



Once you’ve lined up two property managers, take the map you’ve been using and the

notes you’ve compiled during the first two weekends and select a group of properties,

preferably ―For Sale by Owner‖ properties that you can ride by within two hours or less.
You will want to take both property managers to the same properties, but not at the

same time. By doing this, you can compare the information you get from one with the

information from the other. You will be conducting drive-by inspections and asking each

property manager to give you an estimate of the range of rents he or she feels each

property could bring. Since you will have few if any details of the interior layout of the

houses, ask for rent estimates for 2, 3, and 4 bedrooms, and 1, 1 1/2, and 2 baths.

Make notes on their estimates as you visit each property. You will need these notes

next weekend. If there’s a big difference between the rates you get from each property

manager, you may want to repeat this exercise the next weekend with different property

managers before moving on. You must have reliable data to make good offers.



When you ask the property managers for rental rates, be sure to explain that you want

estimates based on the houses’ being in good condition, even though the houses may

be rundown when you look at them. This is important, because you will want to use

these estimates to make offers that will allow you to fix up the property and get a return

on both the purchase price and the repair costs.




As you ride with these property managers, ask questions!




• Ask for references, preferably in the form of names and phone numbers of the owners

of properties they currently manage.
• Ask if they know of any properties that may make good investments.

• Ask if any of the people for whom they are currently managing properties are

interested in selling.

• Ask how many homes they are currently managing in the areas where you are riding.

Ask them if it is possible to show you some of these properties.



Throughout your ride, you will be evaluating them and they will be sizing you up, but the

most important part of this exercise is developing a feel for rental rates in your targeted

neighborhoods.



If you get good vibes about a particular property manager in the process, that’s an

added bonus.



When you complete this weekend’s work, you should be familiar with your target areas,

have a list of properties for sale, and have a good idea of the rent these properties could

produce. Be sure that you’ve looked at a minimum of three ―For Sale by Owner‖

properties, because you will be working with these during your fourth weekend.



What to Do Your Third Weekend

1) Research the classified ads for homes and apartments for rent.

2) Find two property managers who are willing to ride with you on the weekend.

3) Ride with the property managers and get a good feel for the range of rents in the

houses that interest you.
4) Ask the property managers if they have owners who are willing to sell.

5) Create a list of properties for sale in the target area, including at least three that are

for sale by the owners.




WHAT TO DO IN YOUR FOURTH WEEK

During your fourth weekend, you will conduct detailed inspections on some of these

properties.



Review your notes from previous weeks and select three ―For Sale by Owner‖

properties that you feel have the most potential. Sometime during the preceding week,

we want you to call the owners of these properties and schedule appointments to

inspect them on the weekend. Explain that you work during the week and would like to

look at the houses on Saturday if possible.



Allow yourself about an hour to inspect each one. You can maximize the use of your

time by scheduling inspections of three properties within close proximity of each other.



Prior to visiting the properties, review the sample inspection form from Session 3 of this

workbook. Make copies of it if you wish or use it as a guide to set up your own

inspection form.
It’s not important which form or method you use, what is important is that you have a

checklist to guide you through the inspection process. Using this checklist, you will

inspect each item and rate it as being excellent, average, or poor. If you rate an item as

poor, estimate the cost of repairing it. If some of the items are large-ticket items, like the

roof, paint or siding, heat or air conditioning systems, carpet, etc., and you don’t feel

comfortable estimating costs, you may want to call vendors that do the specific work

and ask them for an estimate range.



All you need to know at this point is the maximum it may cost. You will use this higher

figure when making a purchase offer, but by requesting a range of estimates, you have

something to negotiate with if you buy the house and actually have to do the work. You

can use this same technique to get estimates on any of the other large-ticket items.



When estimating smaller items, like door locks, screens, and minor repairs, use your

own best judgment. Since the cost of items like these is small, even if you miss with

your estimate, the impact will be minimal. The more experienced you become, the more

accurate your estimates will be.



What to Do Your Fourth Weekend

1) Begin by making appointments with owners to inspect For Sale by Owner properties

on Saturday.



2) Become familiar with the property inspection form in the guidebook.
3) Inspect several ―For Sale by Owner‖ properties.



4) Obtain estimates of any major repair expenses the properties may require, and

calculate the total cost of bringing the properties into good condition.
WHAT TO DO IN WEEKS 5-8

Now roll up your sleeves and brush off the dust; it’s time to begin the real nuts and bolts

of becoming a Real Estate Investor. Throughout the program, you’ve learned how to

value single-family properties, and we’ve explained the wide range of prices you can

offer and stay within the wholesale value. The program has explained how to structure

offers and how to put them in writing on Real Estate Purchase Contracts. If these

concepts are still a bit fuzzy, take time to go back and review them.



What you’re going to do first is get a pad of paper and your financial calculator or

computer.



You’re going to use the information on valuing properties, the rent ranges the property

managers gave you, and the cost estimates for any repairs that need to be made to

determine the value of each property.



Don’t worry about appraisals. They’re for banks and people buying a home to live in.

Appraisals are estimates of ―market value.‖ Remember, you can’t pay market value for a

property and rent it for market value and stay in business . . . there’s simply no margin

of profit.



Instead of market price, your calculations are going to produce the wholesale value.
Remember, value is derived from a combination of price and terms. To arrive at the

value, you calculate the net operating income and use it to determine the price, based

on how you propose to pay for the property. Since the NOI you’ll be using is based on

the property’s being in good marketable condition, you’ll need to reduce the price you

calculate by the amount it will take to put it in good condition.



Once you’ve made your calculations, you’re now ready to put them in writing. Get out

your Real Estate Purchase Contract that you got from your lawyer. You may want to

write up two offers for each property, one at a lower price with a higher interest rate on

the financing and another with a higher price and a lower interest rate. You should

structure these offers to give yourself some negotiating room. These aren’t your final

offers, they’re ones you’re going to use to find out if the sellers have any flexibility.



Once your offers are written, you may be reluctant, maybe even scared to death, to

present them. Don’t be! Remember, the worst thing that can happen is the sellers can

say NO.



Don’t worry about whether these offers will be accepted or rejected. This exercise is

designed to get you started making offers. If one of them is accepted, great; you’ll know

the purchase is going to be profitable.



Once they’re all completed, go back and review them. Remember: If you can pay cash,

ask for the lowest possible price. If not, raise the price and ask for favorable terms. Just
go over each offer to ensure that you will get the return you want on your cash or that

you will be able to pay off the mortgage with the NOI if the offer’s accepted.



Once your offers are in writing, your task for the fifth weekend is to present them to the

sellers.



You’ll start by contacting the sellers and letting them know that you would like to make

an offer to purchase their property. When you meet with them, before going into the

offers, explain that you’re an investor and that you’ve carefully analyzed their property to

determine what you can pay for it. Don’t apologize for the fact that as an investor, you

have to structure your offers so that you can receive a return on your investment. If you

can’t do so, you can’t buy the property.



You can even acknowledge the fact that they might be able to get more for the property

if they can find a buyer who wants to live in it. This can help you determine if they are

under time pressure to sell.



When you present your offer, tell the sellers that you don’t expect them to make a

decision on the spot. Since your offer will surely be for less than they expect to get, their

reaction will be to turn it down immediately without further consideration. Ask them to

study the offer overnight before making any comment about it one way or another.
Written offers are one of the best ways of finding sellers who due to personal

circumstances, may need to rid themselves of a property, even at wholesale. If their

problems are embarrassing or ones they don’t want to discuss openly, you want them to

weigh your offer against the benefits of solving their problems, not against the perceived

value they have for their property.



When given time to do this, their attitude may change. As the old saying goes, ―You

never know what someone will do until you ask.‖



After you’ve presented your three offers, your assignment for the weekend is complete.

If any of them is accepted, great. If not, it’s no big deal because you’ll have just made

your first offers and that’s what getting started is all about. This exercise is designed to

move you from the ―thinking‖ to the ―doing‖ phase of becoming a Real Estate Investing

Millionaire. If you’re like most people, making that first offer will be the toughest step

you’ll take. You’ll be nervous, maybe a little scared, and not quite sure of yourself.

That’s only normal, but you’ll have taken your first step. As you go forward, your

confidence will grow with each offer you write.




What to Do Your Fifth Week

1) Review the sessions on valuing single-family properties and making your first offer.



2) Calculate the net operating income on each of three target properties.
3) Review the material on how to write an offer. Then write up offers on your three

target properties and present them to the sellers.



WHAT TO DO IN YOUR SIXTH WEEK

Weekend six is going to be similar to weekend four, but easier. Once again, you’ll be

inspecting properties; however, this time they will be properties listed for sale with real

estate brokers. The listing brokers will show you the properties, rather than the owners.

As you are going through the houses, the brokers will point out all the positive attributes

of the property and leave it up to you to find the negatives. You need to know that listing

brokers work for and are paid by the sellers, so their fiduciary duty is to them. Their job

is to get the best deal for their clients.



Many investors are reluctant to work through listing brokers for this reason. Good

brokers do what is best for their sellers — but that doesn’t mean automatically

discouraging them from accepting wholesale offers.



When inspecting properties with brokers, follow the same procedure you would use if

you were with the owners. Use a checklist so you don’t miss items. Work at your pace,

even if the broker tries to rush you. Once again, it’s up to you to identify the items that

aren’t satisfactory so you can review them later and estimate their repair costs. You’ll

find that inspections will go much quicker once you have done a few of them. You may

even want to try to inspect four properties this weekend rather than just three as you did
on the fourth weekend. Remember, the more properties you inspect and the more offers

you make, the better your chances of finding a wholesale opportunity.



WHAT TO DO YOUR SIXTH WEEKEND

1) Identify three or four houses in your target area that are listed with real estate

brokers. Make arrangements to inspect them with the brokers on Saturday.

2) Print out copies of the inspection form.

3) Together with the real estate brokers, inspect the houses that you’ve chosen.

4) Obtain estimates of the costs of any major repairs that will be required to bring the

houses into good condition.




WHAT TO DO YOUR SEVENTH WEEKEND

On this, your seventh, weekend, you’re going to get back to making offers again. This

sounds repetitive, but it is very important. When you gain more experience, you’ll be

able to write offers on the fly, but until you become thoroughly familiar with the process

consult with the professionals on your team or have an attorney create an offer for you

one time, and then you can use it over and over again in the future.



Now get out your notepad, blank contract forms, financial calculator or computer, and

get to work preparing offers for the properties you inspected last weekend. A little food

for thought before you get started: Since these properties are listed with real estate

agents, you’ll need to consider how the real estate commission is going to be paid. In
other words, your offers will need to include enough cash to pay the sales commission

or ask the broker to finance it for you.



After you’ve completed your calculations and made a determination about the kind of

offers you want to make, you need to transfer the information to the Contract Forms.

This is the same process you used in weekend five, but if you need to go back and

review the session on writing offers, take a few minutes and do so.



Although these offers will be made through a broker, you write them the same way you

did the ones for the For Sale by Owner properties. The only real difference is that the

brokers will usually want to prepare the forms and present the offers for you. You have

the right to accompany the brokers to present your offers, but this often makes them

uncomfortable and prevents them from talking openly with the sellers. Instead, allow the

brokers to present the offers without you present, but reserve the right to meet with the

sellers if they can’t get them accepted or get a counterproposal. This is a subtle way to

challenge the brokers to present your offers in a positive way.




There’s another way to present wholesale offers through brokers, and it’s often a

quicker and less controversial one. You can outline your proposal in a Letter of Intent.

These are simply letters expressing your interest in purchasing the property, briefly

outlining what you are willing to pay, the method of payment, and any other pertinent

terms or conditions. Address these letters to the brokers, asking them to contact the
owners to see if they are interested, and if so, propose to transfer the offer immediately

to a Contract Form if it is acceptable.



Letters of Intent give you another tool to work with. Something as simple as a letter

containing a general outline of what you are willing to do can get the ball rolling. In these

letters, you may want to give the sellers a couple of options that are basically the same

as far as you are concerned. All you have to do is simply adjust the terms to show that

you have price flexibility.



Letters of Intent also speed up the process of getting offers in front of sellers, especially

when brokers are involved. They give you a way to reach agreement in principle and

still leave plenty of room to improve the deal with negotiations on minor points.



Remember — the more offers you make, the better your chances of success. You can

mentally train yourself to make offers the same way that athletes train themselves to

visualize game situations. Even when you’re not optimistic about an offer, put your

wholehearted energy into it. When you do that, you’ll be pleasantly surprised more often

than you might expect.



WHAT TO DO YOUR EIGHT WEEKEND

1) Review the sessions about valuing single-family properties and making your first

offer.
2) Calculate the net operating income and use it to establish a value for each of the

properties you inspect.



3) Review the session on how to write offers, and then prepare several offers for the

properties you inspected on weekend six.

Make some of your offers on Contract Forms and at least one using a Letter of Intent.




WHAT TO DO YOUR NINTH WEEKEND

Come weekend nine, you’re going to start all over again. As the old saying goes, ―The

wheel comes back around.‖



Becoming a Real Estate Investing Millionaire is not that hard. All you have to do is keep

riding your farm and checking your fields. New properties come on the market each

week. Other properties remain on the market week after week, month after month. All

you have to do is keep up with what’s happening in your market, keep meeting people,

and keep making offers. Don’t forget, it takes only one purchase a year to make you a

millionaire.



Now get a stack of your business cards and let’s go for another ride. The first weekend

we told you that you would come to view your target subdivisions the way a farmer

views his fields.
Well, we’ve come full circle and it’s time to start plowing again, sowing some more

seeds, and looking around to see if there’s anything ready to harvest.



The journey from where you are now to becoming a Real Estate Investing Millionaire is

nothing more than a series of simple steps. The steps are in the first seven weekends,

now all you have to do is keep taking them.



Things change; that’s why you just keep repeating the process. You can see that you’ve

come full circle. You’re back riding your neighborhoods, just as you were on that first

weekend, and you’re probably noticing some new ―For Sale‖ signs that weren’t there

before, and others that were there are gone now. As you make these repeated rides, be

aware of properties that remain for sale trip after trip. Often the longer a property is on

the market, the more flexible the seller becomes. Don’t let the difficulties that stopped

other buyers keep you from at least trying to solve the problem.



WHAT TO DO YOUR TENTH WEEKEND

1) Go back and revisit the neighborhoods in your target area, and hand out more of your

business cards.



2) Create a list of the potential investment properties you find and give special attention

to any ―For Sale by Owner‖ properties. Keep a file of notes on the houses you’ve

inspected. Be sure to update this file after each ride.
3) Watch for and research any rundown properties in the nice areas of your target

neighborhood.



Remember that becoming a Real Estate Investing Millionaire is not hard; it just takes a

little time and commitment. Be willing to give both. Just four hours a week, doing what

you’ve been doing for the last eight weeks, and you’ll soon buy your first investment

property. Make a commitment to invest four hours a week in your real estate investing

career and you will become a Real Estate Investing Millionaire.



What’s important is that you work on becoming a Investing Millionaire consistently week

after week. Patience, persistence, and discipline are the keys to wealth. Buying one

house won’t make you wealthy, but buying one or two a year will, especially when you

continue doing it for many years. So be persistent. Be patient. And be confident in the

success that awaits you.



You’re a lot closer than you think.

To your First Million

Millionaire Real Estate Investing Resources
                               30 Hard Money Lenders




                         1ST American Secured Capital

HML Loan
                Residential and Commercial
Type

Lending Area CA and NV

Contact         TJ

Address         300 West Grand Avenue, #300

City, State, Zip Escondido, California, 92025

Phone           760-802 9630

Fax             760-546-3001

Email           TJ@300GNI.com




                            1st California Hard Money

HML Loan
                Residential and Commercial
Type

Lending Area CA

Contact         Mike Sanders

Address         4229 Ocean Blvd, Suite C

City, State, Zip San Diego, California, 92109
Phone           619-318-0710

Web Site        1stcalhardmoney.com

Email           cashquik@gmail.com




                             1st Equity Lending Corp.

HML Loan
                Residential and Commercial
Type

Lending Area CA

Contact         Joseph Perez

Address         1026 Marion Drive

City, State, Zip Glendale, California, 91205

Phone           818-553-3829

Fax             818-553-3656

Web Site        www.betterloansandrealty.com

Email           joseph.perez7185@sbcglobal.net




                                1st Quick Funding

HML Loan
                Residential and Commercial
Type

Lending Area Nationwide
Contact         Ray Shapiro

Address         222-15 Jamaica Avenue

City, State, Zip Queens Village, New York, 11428

Phone           516-204-7770

Fax             516-224-7425

Web Site        www.1stquickfunding.com

Email           admin@quickfundllc.com




                           All California Home Loans

HML Loan
                Residential and Commercial
Type

Lending Area CA

Contact         Chris Goulart

Address         655 English Oak Court

City, State, Zip Brentwood, California, 94513

Toll Free       877-462-3422

Web Site        www.aboutcaliforniahomeloans.com/private-money.html

Email           cgoulart@aboutcaliforniahomeloans.com




                          Atlanta Private Lending, LLC
HML Loan
               Residential and Commercial
Type

Lending Area GA

Contact        James Melton

Address        1303 Hightower Trail , Suite 101

City, State, Zip Sandy Springs, Georgia, 30350

Phone          770-354-1899

Fax            770-809-5060

Web Site       www.atlantaprivatelending.com

Email          reiclub@atlantaprivatelending.com




                            Blazevic Funding Group

HML Loan
               Residential and Commercial
Type

Lending Area Nationwide Except AK & HI

Contact        Steve Blazevic

Address        16224 N. 38th Street

City, State, Zip Phoenix, Arizona, 85032

Phone          480-248-3868

Fax            602-445-9919

Web Site       www.BlazeVicFunding.com
Email          stjepan@cox.net




                             BlueWater Funding, LLC

HML Loan
               Residential and Commercial
Type

Lending Area DC, DE, MD, NC, NJ, NY, PA, VA, W.VA,

Contact        Neil Siman

Address        4925 St. Elmo Avenue

City, State, Zip Bethesda, Maryland, 20814

Toll Free      866-551-2583

Phone          301-656-6566

Fax            240-766-0609

Web Site       www.bluewaterfundingllc.com

Email          info@bluewaterfundingllc.com




                             Brookview Financial, Inc.

HML Loan
               Residential
Type

               AL, CA, CO, CT, DC,DE, FL, GA, IL, IN, KY, LA, MA, MD,ME,MI,
Lending Area
               MN, MO, MS, NH, NJ, NC, NM, NY, OH, OK, PA, RI, SC, TN, TX,
                UT, VA,WA, WI

Contact         Steve Petriella

Address         2321 Whitney Avenue

City, State, Zip Hamden, Connecticut, 06518

Toll Free       877-734-2211 ext. 350

Phone           203-230-8500

Fax             203-248-1771

Web Site        reiclub.com/hml

Email           rehabs@brookviewfinancial.com




                                 California Hard Money

HML Loan
                Residential
Type

Lending Area CA

Contact         Neill Phillips

Address         8574 Alpine Avenue

City, State, Zip La Mesa, California, 91941

Phone           619-920-7685

Fax             619-819-8824

Web Site        www.californiahardmoney.biz

Email           sdreloans@yahoo.com
                                   Capital Trust

HML Loan
                Residential and Commercial
Type

Lending Area MA

Contact         Dan Burke

Address         404 South Huntington Avenue

City, State, Zip Boston, Massachusetts, 02130

Phone           617-971-9700

Fax             617-983-3541

Web Site        www.ecapitaltrust.com

Email           danburke@ecapitaltrust.com




                                    CT Capital

HML Loan
                Residential and Commercial
Type

Lending Area FL, OH

Contact         Matt Martin

Address         6300 NE 1st Avenue, Suite 200

City, State, Zip Fort Lauderdale, Florida, 33334
Phone           954-895-0615

Fax             954-351-0996

Web Site        www.ctcapitallending.com

Email           mmartin@ctcapitallending.com




                                    Delta 8 Capital

HML Loan
                Commercial
Type

Lending Area OK, TX

Contact         Carolyn Apodaca

Address         508 Liberty Court

City, State, Zip Colleyville, Texas, 76034

Phone           469-964-6837

Fax             817-796-2875

Web Site        delta8capital.com/

Email           carolyn@delta8properties.com




                        Dominion Financial Services, LLC

HML Loan
                Residential
Type
Lending Area MD

Contact         Jack BeVier

Address         1029 N Calvert Street

City, State, Zip Baltimore, Maryland, 21202

Phone           410-230-0123

Fax             410-727-4306

Web Site        www.BaltimorePrivateLending.com

Email           jack@thedominiongroup.com




                               EDC Capital Partners

HML Loan
                Residential
Type

Lending Area AL, DC, GA, KS, MD, MO, MN, NC, NJ, PA, SC, TX, VA

Contact         Shawn Skiff

Address         4640 Shore Drive, Suite 113

City, State, Zip Virginia Beach, Virginia, 23455

Phone           757-460-9096

Fax             757-460-4079

Web Site        www.equitydevelopmentcorp.com/

Email           info@equitydevelopmentcorp.com
                             Genesis Capital Mortgage

HML Loan
               Residential
Type

Lending Area CA

Contact        Brittney Fairweather

Address        516 Pennsfield Place #207

City, State, Zip Thousand Oaks, California, 91360

Phone          805-496-8002 x202

Email          brittney@gencapmortgage.com




                 Great Central Mortgage Acceptance Co., LTD.

HML Loan
               Residential and Commercial
Type

Lending Area TX

Contact        Chris Dickson

Address        507 W. Rhapsody

City, State, Zip San Antonio, Texas, 78216

Phone          210-979-6683

Fax            210-979-0989
Web Site       www.texas-hardmoney.com

Email          chrisd@greatcentralmortgage.com




                             Hard Money Bankers, LLC

HML Loan
               Residential and Commercial
Type

Lending Area DC, DE, MD, VA

Contact        Jason Balin

Address        One Sanford Ave .

City, State, Zip Baltimore, Maryland, 21228

Toll Free      877-991-1500

Phone          410-878-7090

Fax            866-859-6019

Web Site       www.hardmoneybankers.com

Email          jason@hardmoneybankers.com




                        Investor's Capital Funding, LLC

HML Loan
               Residential and Commercial
Type

Lending Area TX
Contact         Rob Champion, Tom Wagner

Address         5850 Town and Country Blvd., Suite #203

City, State, Zip Frisco, Texas, 75034

Phone           214-377-4799

Fax             866-610-7547

Web Site        www.txhardmoneylending.com

Email           info@txhardmoneylending.com




                                  Ionian Capital

HML Loan
                Residential and Commercial
Type

Lending Area CA

Contact         Steve Mason

Address         925 Lakeville Suite 321

City, State, Zip Petaluma, California, 94952

Toll Free       800-901-2111

Phone           707-769-4731

Web Site        www.westcoasteloan.com

Email           info@westcoasteloan.com
                               Lending Associates

HML Loan
                Residential and Commercial
Type

Lending Area AZ, CA, NV, OR, WA

Contact         Edward Spooner

Address         16787 Bernardo Center Dr, Suite 11

City, State, Zip San Diego, California, 92128

Phone           858-487-3001

Fax             858-487-3002

Web Site        www.lendingassociates.net

Email           Info@lendingassociates.net




                                  LoanSum, LLC

HML Loan
                Residential and Commercial
Type

Lending Area St Louis, Missouri

Contact         Greg Daney

Address         11821 Adie Road

City, State, Zip St Louis, Missouri, 63043

Phone           314-971-7999

Fax             314-995-8515
Web Site        www.loansum.com

Email           customerservice@loansum.com




                                PeachStone Captial

HML Loan
                Residential
Type

Lending Area GA

Contact         Wade Munday

Address         4780 Ashford Dunwoody Road, Suite 513

City, State, Zip Atlanta, Georgia, 30338

Phone           404-421-5578

Fax             404-806-6133

Web Site        www.AtlantaHardMoneyLoans.com

Email           wade@AtlantaHardMoneyLoans.com




                         Piedmont Capital Lending, LLC.

HML Loan
                Residential and Commercial
Type

Lending Area GA

Contact         David Doughty
Address         P.O. Box 1578

City, State, Zip Roswell, Georgia, 30077

Phone           678-292-6984

Fax             770-807-0232

Web Site        www.piedmontcapitallending.com

Email           info@piedmontcapitallending.com




                                SDC Capital Funding

HML Loan
                Residential and Commercial
Type

Lending Area AZ, CA

Contact         Shawna Phelan

Address         P.O. Box 572559

City, State, Zip Tarzana, California, 91357

Phone           818-342-9555 x202

Fax             818-342-1030

Web Site        www.sdccapitalfunding.com/

Email           shawna@silverbergdevelopment.com




                           Streamline Funding Group
HML Loan
               Residential and Commercial
Type

Lending Area TX

Contact        Minka Anderson

Address        8200 N. Mo Pac Expressway, Suite 320

City, State, Zip Austin, Texas, 78759

Toll Free      877-250-8787

Phone          512-250-8575

Fax            512-250-2085

Web Site       www.streamlinefunding.com

Email          info_rei@streamlinefunding.com




                                Sunrise Financial

HML Loan
               Residential and Commercial
Type

Lending Area CT

Contact        Neal Chorney

Address        205 Church Street, 3rd Floor

City, State, Zip New Haven, Connecticut, 06510

Phone          866-360-6418

Fax            203-643-2214
Web Site        www.sunrisefg.com

Email           admin@cthardmoney.com




                                 The Norris Group

Lending Area CA

Contact         Craig Hill

Address         6391 Magnolia Avenue, Suite C

City, State, Zip Riverside, California, 92506

Phone           951-780-5856

Fax             951-780-9827

Web Site        www.thenorrisgroup.com

Email           craig@thenorrisgroup.com




                             Valuation Mortgage Capital

HML Loan
                Commercial
Type

Lending Area FL, SC, GA, NC

Contact         Tim McLeod

Address         515 East Las Olas Boulevard, Suite 860

City, State, Zip Fort Lauderdale, Florida, 33301
Phone           954-636-2619

Fax             954-793-4783

Web Site        www.valuationmortgage.com

Email           tsm@valuationmortgage.com




                                Zinc Financial, LLC

HML Loan
                Residential and Commercial
Type

Lending Area AZ, CA, NV

Contact         Todd Pigott

Address         2525 Alluvial Suite 281

City, State, Zip Clovis, California, 93611

Phone           559-326-2509

Fax             888-761-8577

Web Site        www.zincfinancial.net

Email           info@zincfinancial.net
                            Alabama Real Estate Clubs




                                     ALREIA

Contact Person:    Hubert Griffin

Meeting Location: Griffin

Meeting Address: 4050 Fairground Rd

City, State Zip:   Montgomery, Alabama 36110

Meeting Time:      3rd Tuesday, 5:30 p.m.

Phone Number:      334-207-5591

Web Site:          www.al-reia.net

Email:             hgriffin@al-reia.net

No. Members:       25

                    Associated Investors of Alabama, Inc.

Contact Person:    Glenn Crocker
Meeting Location: Homewood Senior Center

Meeting Address: 816 Oak Grove Road

City, State Zip:   Homewood, Alabama 35209

Meeting Time:      4th Monday, 6 p.m.

Phone Number:      205-871-5284

Fax Number:        205-871-4818

Web Site:          www.aiaclub.com

Email:             aiaclub@bellsouth.net

No. Members:       275

                             Madison County REIA

Contact Person:    Camille Mueller

Meeting Location: Huntsville Board of Realtors

Meeting Address: 535 Monroe Street

City, State Zip:   Huntsville, Alabama 35801-5516

Meeting Time:      Second Thursday, 6:00 p.m.

Phone Number:      256-468-9911

Fax Number:        256-712-2283

Web Site:          www.MadisonCountyREIA.com

Email:             Camille.Mueller@MadisonCountyREIA.com

No. Members:       160

                     Mobile Real Estate Investment Group
Contact Person:    Steven Brown

Meeting Location: International Trade Club

Meeting Address: Water Street

City, State Zip:   Mobile, Alabama 36602

Meeting Time:      Weekly, Wednesday 12-1

Phone Number:      251-366-4663

Fax Number:        251-432-5762

Web Site:          www.mobile-rig.com

Email:             steve.brown@homevestors.com

No. Members:       200

                North Alabama Real Estate Investors Association

Contact Person:    Bill Hubbell

Meeting Location: Florence Public Library

Meeting Address: N. Wood Avenue

City, State Zip:   Florence, Alabama 35630

Meeting Time:      4th Thursday, 6 p.m.

Phone Number:      205-828-0502

Fax Number:        205-764-7963

Email:             bhubbel@msn.com

                   Port City Real Estate Investors Association

Contact Person:    Lawrence Roberts
Meeting Location: American Cafe'

Meeting Address: 3662 Airport Blvd # A

City, State Zip:     Mobile, Alabama 36608

Meeting Time:        2nd Thursday, 6:30pm

Phone Number:        251-510-4862

Web Site:            www.PortCityREIA.com

Email:               PortCityREIA@gmail.com

No. Members:         27

                   Tuscaloosa Real Estate Investors Association

Contact Person:      Wayne Taylor

Meeting Location: Building A

Meeting Address: 408 Paul W. Bryant Drive

City, State Zip:     Tuscaloosa, Alabama 35401

Meeting Time:        Tuesdays, 7:00 p.m.

Phone Number:        205-366-0411

Fax Number:          205-342-3644

Email:               theta01@mindspring.com

No. Members:         20
                          Arizona Real Estate Clubs



              Arizona Real Estate Investors Association (AZREIA)

Contact Person:    Alan Langston

Meeting Location: Herberger Theater

Meeting Address: 222 E. Monroe Street

City, State Zip:   Phoenix, Arizona 85004

Meeting Time:      2nd Monday, 5:00 p.m.

Phone Number:      480-990-7092

Fax Number:        480-990-7017

Web Site:          www.azreia.org

Email:             info@azreia.org

No. Members:       1800

                                     AZnori

Contact Person:    Shadow Nightwing

Meeting Location: Main Hall

Meeting Address: 520 East Wilmot

City, State Zip:   Tucson, Arizona 85710

Meeting Time:      2nd Wednesday, 4:00 p.m.
Phone Number:        520-256-6801

Web Site:            www.AZnori.com

Email:               contact@aznori.com

No. Members:         250

                             Phoenix Real Estate Club

Contact Person:      Maureen Laupp

Meeting Location: 24th Street Conference Center

Meeting Address: 1841 N. 24th Street

City, State Zip:     Phoenix, Arizona 85008

Meeting Time:        3rd Tuesday , 5:30 p.m.

Phone Number:        480-990-7092

Fax Number:          480-990-7017

Web Site:            www.PhoenixRealEstateClub.com

Email:               info@phxclub.com

No. Members:         275

                   Scottsdale Investor Real Estate Group (SIREG)

Contact Person:      Mark Mara

Meeting Location: Windmill Suites

Meeting Address: 3535 W. Chandler Blvd.

City, State Zip:     Chandler, Arizona 85226

Meeting Time:        3rd Thursday, 6:00 - 8:00 p.m.
Phone Number:       602-625-2225

Fax Number:         602-445-9325

Email:              Mark@Sireg.com

No. Members:        50

            Talisman of Tucsons Real Estate Investors United (TREIU)

Contact Person:     Noelle Miles

Meeting Location: Laverna Coffee Shop

Meeting Address: 220 S. Plumer Ave.

City, State Zip:    Tucson, Arizona 85704

Meeting Time:       3rd Thursday, 10:00 a.m.

Phone Number:       520-940-5488

Web Site:           www.treiu.com

Email:              Noelle@treiu.com

No. Members:        100




                            California Real Estate Clubs



                         American Investors Club of Malibu

Contact Person:     Yuri Katz

Meeting Location: Beau Rivage Restaurant

Meeting Address: 26025 W. Pacific Coast Highway
City, State Zip:   Malibu, California 90265

Meeting Time:      3rd Wednesday, 6:30 p.m.

Phone Number:      310-497-1510

Fax Number:        310-456-1599

Email:             oceanestates@mail.com

No. Members:       50

                   Autumn Leaf Real Estate Investment Club

Contact Person:    Sean Cervantes

Meeting Location: Pechanga Hotel & Casino

Meeting Address: 45000 Pechanga Pkwy

City, State Zip:   Temecula, California 92592

Meeting Time:      3rd Thursday

Phone Number:      951-693-5870

Fax Number:        951-693-5877

Web Site:          www.alreic.com

Email:             sean@alreic.com

                   1500
No. Members:


                Bay Area Investors Educational Services (BAIES)

Contact Person:    Bill Snipes

Meeting Location: Hyatt Regency Embarcadero Hotel
Meeting Address: 5 Embarcardero Center

City, State Zip:   San Francisco, California 94111

Meeting Time:      First Tuesday, 6:00 p.m.

Phone Number:      800-776-1675

Fax Number:        510-339-3382

Email:             BAIES@Earthlink.Net

No. Members:       100

                     Bay Area Investors Resource Center

Contact Person:    Bob or Tim Hundley

Meeting Location: Sheraton Gateway Hotel

Meeting Address: 600 Airport Blvd.

City, State Zip:   Burlingame, California 94010

Meeting Time:      2nd Tuesday, 6:30 p.m.

Phone Number:      650-508-1195

Web Site:          irca-sanfrancisco.com

Email:             tim@irca-sanfrancisco.com

No. Members:       150

                     Bay Area Real Estate Investor's Club

Contact Person:    Bob Hundley

Meeting Location: Crowne Plaza Hotel

Meeting Address: 777 Bellew
City, State Zip:     Milpitas, California 95035

Meeting Time:        Second Monday, 6:30 p.m.

Phone Number:        650-508-1195

Web Site:            www.irca-sanjose.com

Email:               bob@irca-sanfrancisco.com

No. Members:         150

                   Bay Area Wealth Builders Association (BAWB)

Contact Person:      Michael Morrongiello

Meeting Location: Mill Valley Community Center

Meeting Address: 180 Camino Alto

City, State Zip:     Mill Valley, California 94941

Meeting Time:        3rd Thursday, 7:00 p.m.

Phone Number:        707-996-6411

Fax Number:          707-939-8476

Web Site:            www.BAWB.info

Email:               info@BAWB.info

No. Members:         350

                            Capital City Wealth Builders

Contact Person:      Joe Brosious

Meeting Location: DoubleTree Hotel

Meeting Address: 2001 Point West Way
City, State Zip:   Sacramento, California 95814

Meeting Time:      First Thursday, 7:00 p.m.

Phone Number:      800-650-1315

Fax Number:        916-786-5542

Web Site:          www.ccwealthbuilders.com

Email:             info@ccwealthbuilders.com

No. Members:       200

                      Directed Real Estate Professionals

Contact Person:    Kevin Mills

Meeting Location: Fred's Mexican Cafe

Meeting Address: 32431 Golden Lantern

City, State Zip:   Laguna Niguel, California 91203

Meeting Time:      2nd Wednesday, 7:00 p.m.

Phone Number:      949-456-4641

Web Site:          www.drepclub.org

Email:             info@drepclub.org

No. Members:       100

                   Directed Real Estate Professionals (DREP)

Contact Person:    Kevin Mills

Meeting Location: Fred's Mexican Cafe

Meeting Address: 2470 San Diego Avenue
City, State Zip:   Old Town San Diego, California 92110

Meeting Time:      3rd Thursday, 7:00 p.m.

Phone Number:      Please Email

Web Site:          www.drepclub.org

Email:             info@drepclub.org

No. Members:       20

                         East Bay Wealth Builders Club

Contact Person:    Shahid

Meeting Location: San Ramon Marriott Hotel

Meeting Address: 2600 Bishop Drive

City, State Zip:   San Ramon, California 94583

Meeting Time:      3rd Wednesday, 6:00 pm

Phone Number:      866-235-9264

Fax Number:        925-648-1558

Web Site:          www.eastbaywealthbuilders.com

Email:             info@eastbaywealthbuilders.com

No. Members:       100

                             Elk Grove REI Group

Contact Person:    Lydia Ybarra

Meeting Address: 9275 E Stockton Blvd. Ste100

City, State Zip:   Elk Grove, California 95624
Meeting Time:      7 PM

Phone Number:      916-416-5510

Fax Number:        866-295-3869

Web Site:          www.elkgroverei.com

Email:             info@elkgroverei.com

No. Members:       49

                   Financial Enlightenment Club/ North Bay

Contact Person:    K.Roberts

Meeting Location: New College - North Bay Campus

Meeting Address: 99 6th Street

City, State Zip:   Santa Rosa, California 95401

Meeting Time:      4th Wednesday, 6:45 p.m.

Phone Number:      888-851-3367Ext.703

Fax Number:        707-324-8051

Web Site:          www.financialenlightenmentclub.com

Email:             admin@financialenlightenmentclub.com

No. Members:       49

                          International Investors Group

Contact Person:    Kevin Mills

Meeting Location: Center Club

Meeting Address: 650 Town Center Drive
City, State Zip:   Costa Mesa, California 92626

Meeting Time:      2nd Tuesday, 7:00 p.m.

Phone Number:      949-373-5322

Web Site:          www.internationalinvestorsgroup.com

Email:             members@internationalinvestorsgroup.com

                            InvestClub For Women

Contact Person:    Iris Veneracion

Meeting Location: South Coast Cultural Center

Meeting Address: 9 Truman

City, State Zip:   Irvine, California 92620

Meeting Time:      Third Wednesday, 6:30 p.m.

Phone Number:      714-265-7676

Fax Number:        877-493-3118

Web Site:          www.investCLUBforwomen.com

Email:             IrisV@investCLUBforwomen.com

No. Members:       85

              Investors Resource Center of America-Los Angeles

Contact Person:    Steve or Robyn Love

Meeting Location: Four Points Sheraton Hotel

Meeting Address: 5990 Green Valley Circle

City, State Zip:   Culver City, California 91306
Meeting Time:      1st Tuesday, 6:30 p.m.

Phone Number:      818-678-6269

Fax Number:        818-998-8064

Web Site:          irca-losangeles.com

Email:             robyn@irca-losangeles.com

No. Members:       150

                             Investors Workshops

Contact Person:    Shawn Watkins

Meeting Location: DoubleTree Hotel

Meeting Address: 100 The City Drive

City, State Zip:   Orange, California 92840

Meeting Time:      4th Wednesday, 7 p.m.

Phone Number:      714-389-0919

Fax Number:        714-442-1284

Web Site:          www.investorsworkshops.com

Email:             investorsworkshops@cox.net

No. Members:       100

                          Investors Workshops North

Contact Person:    David Granzella

Meeting Location: Holiday Inn Sacramento North East

Meeting Address: 5321 Date Avenue
City, State Zip:   Sacramento, California 95841

Meeting Time:      3rd Thursday, 7:00 p.m.

Phone Number:      916-223-5564

Web Site:          www.investorsworkshopsnorth.com

Email:             dgranzella@surewest.net

No. Members:       65

                                 InVisionNet REI

Contact Person:    Gwendolyn Roe

Meeting Address: 5325 Engle Rd

City, State Zip:   Carmichael, California 95608

Meeting Time:      2nd Tuesday 6:30 pm

Phone Number:      916-410-7814

Fax Number:        916-332-0140

Email:             info@InVisionNetREI.com

                        Lodi Real Estate Investors Club

Contact Person:    Steve Davis

Meeting Location: Church of God Fellowship Hall

Meeting Address: 2100 Tienda Drive

City, State Zip:   Lodi, California 95241

Meeting Time:      Third Thursday, 7:00 p.m.

Phone Number:      209-366-1112
Web Site:          www.ownlodi.com/

Email:             info@bankownedlodi.com

No. Members:       30

            Los Angeles Real Wealth Investors Association (LARWIA)

Contact Person:    Debbie Smith

Meeting Location: Los Angeles Airport Marriott

Meeting Address: 5855 West Century Blvd

City, State Zip:   Los Angeles, California 90045

Meeting Time:      4th Thursday, 7:00 p.m.

Phone Number:      310-641-5700

Email:             info@larwia.com

No. Members:       500

                   Mid-Peninsula Real Estate Investors Club

Contact Person:    Geraldine Barry

Meeting Location: Crowne Plaza

Meeting Address: 1221 Chess Drive

City, State Zip:   Foster City, California 94404

Meeting Time:      3rd Tuesday , 6:15 p.m.

Phone Number:      408-264-3198

Fax Number:        408-273-6006

Web Site:          www.sjrei.net
Email:             gerbarry@earthlink.net

No. Members:       250

                         Monterey Bay Investment Club

Contact Person:    Julie DiGirolamo

Meeting Location: Wave Street Studios

Meeting Address: 774 Wave Street

City, State Zip:   Monterey, California 93940

Meeting Time:      6:30pm

Phone Number:      (831) 372-7652

Web Site:          www.MBREIC.com

Email:             julie@mbreic.com

No. Members:       30

                   Monterey Bay Real Estate Investors Club

Contact Person:    Geraldine Barry

Meeting Location: Embassy Suites Hotel

Meeting Address: 1441 Canyon Del Rey

City, State Zip:   Seaside, California 93955

Meeting Time:      3rd Wednesday, 6:15 p.m

Phone Number:      408-264-3198

Fax Number:        408-273-6006

Web Site:          www.sjrei.net
Email:             gerbarry@earthlink.net

No. Members:       40

                        Mt. Diablo Real Estate Investment

Contact Person:    Eddie Franich

Meeting Location: Mt. Mike's Pizza

Meeting Address: 5358 Clayton Road

City, State Zip:   Concord, California 94521

Meeting Time:      2nd Tuesday, 7:00 p.m.

Phone Number:      925-584-8800

Fax Number:        925-672-4061

Web Site:          www.meetup.com/Mt-Diablo-Real-Estate-Investing/

Email:             efranich@comcast.net

No. Members:       21

                     National Real Estate Investment Club

Contact Person:    Mike Sarwari

Meeting Location: Four Points Sheraton Hotel

Meeting Address: 5115 Hopyard Road

City, State Zip:   Pleasanton, California 94588

Meeting Time:      1st Wednesday, 6:00 p.m.

Phone Number:      925-846-2582

Fax Number:        925-476-0139
Web Site:           www.nreiclub.com

Email:              info@nreiclub.com

No. Members:        350

                             National Wealth Network

Contact Person:     George Antone

Meeting Location: San Ramon Marriott Hotel

Meeting Address: 2600 Bishop Drive

City, State Zip:    San Ramon, California 94583

Meeting Time:       3rd Wednesday, 6:30 p.m.

Phone Number:       925-855-3205

Fax Number:         925-855-3206

Web Site:           www.nwngroup.com

Email:              info@nwngroup.com

                   New Real Estate Investors Club Yuba/Sutter

Contact Person:     Krystal Migliore

Meeting Location: Best Western Bonanza Inn

Meeting Address: 1001 Clark Avenue

City, State Zip:    Yuba City, California 95901

Meeting Time:       2nd Thursday, 6:00 p.m.

Phone Number:       530-846-7200

Fax Number:         530-846-4680
Web Site:            www.nreic-ca.com

Email:               kmigliore@earthlink.net

No. Members:         40

                   New Real Estate Investors' Clubs Butte/Chico

Contact Person:      Krystal Migliore

Meeting Location: Manzanita Place/Elks Lodge

Meeting Address: 1705 Manzanita Avenue

City, State Zip:     Chico, California 95973

Meeting Time:        2nd Wednesday, 7p.m.

Phone Number:        530-846-7200

Fax Number:          530-846-4680

Email:               kmigliore@earthlink.net

No. Members:         25

                   North Bay Real Estate Investors Association

Contact Person:      Chuck Isola

Meeting Location: Lucchessi Community Center

Meeting Address: 320 North McDowell Boulevard

City, State Zip:     Petaluma, California 94954

Meeting Time:        Third Thursday, 6:30 p.m.

Phone Number:        707-775-3300

Fax Number:          707-206-4030
Web Site:          www.nbreia.org

Email:             cisola@sbcglobal.net

No. Members:       25

            North San Diego Real Estate Investors Association, Inc.

Contact Person:    Richard Worcester

Meeting Location: Shadowridge Country Club

Meeting Address: 1980 Gateway Drive

City, State Zip:   Vista, California 92081

Meeting Time:      7:00 p.m.

Phone Number:      760-809-4666

Fax Number:        760-454-2956

Web Site:          www.nsdrei.org

Email:             rich@78homes.com

No. Members:       150

                         Orange County Real Estate Forum

Contact Person:    Norm Rockmael

Meeting Location: DoubleTree Hotel in Irvine Spectrum

Meeting Address: 90 Pacifica Blvd.

City, State Zip:   Irvine, California 92604

Meeting Time:      2nd Thursday, 7:00 p.m.

Phone Number:      949-726-8446
Fax Number:          949-266-0334

Web Site:            www.ocreforum.com

Email:               info@ocreforum.com

No. Members:         2000

            Prosper Real Estate Investors Association Los Angeles

Contact Person:      Debbie Smith

Meeting Location: The Double Tree Hotel

Meeting Address: 1707 4th Street

City, State Zip:     Los Angeles, California 90401

Meeting Time:        3rd Thursday 7 PM

Phone Number:        866-702-5188

Web Site:            www.prosperreia.com

Email:               debbie@investmentpartnersgroup.com

No. Members:         50

                   Real Estate Investment Club of Santa Barbara

Contact Person:      Carol Joy Breed

City, State Zip:     Santa Barbara, California 93015

Meeting Time:        3rd Tuesday 6:30PM

Phone Number:        805-898-9177

Fax Number:          805-898-0117

Email:               carol@abwtax.com
                   10
No. Members:


                    Real Estate Investor Clubs of America

Contact Person:    Sharon Drossos

Meeting Location: San Francisco Airport Marriott

Meeting Address: 1800 Old Bayshore Highway

City, State Zip:   Burlingame, California 95742

Meeting Time:      4th Wednesday, 7:00 p.m.

Phone Number:      916-941-9977 x260

Fax Number:        916-941-0921

Web Site:          www.NREClubs.com

Email:             info@nreclubs.com

No. Members:       45

                    Real Estate Investors Association, Inc.

Contact Person:    Lon Hooker

Meeting Location: Apple Valley Country Club

City, State Zip:   Apple Valley, California 92307

Meeting Time:      Last Wednesday of Month

Phone Number:      702-735-6000

Fax Number:        702-446-5009

Web Site:          www.realestateinvestorsassociation.org/
Email:              reia@realestateinvestorsassociation.org

No. Members:        60

                   Real Estate Investors Club of Los Angeles

Contact Person:     Phyllis Rockower

Meeting Location: Radisson Hotel

Meeting Address: 6161 Centinela Avenue

City, State Zip:    Culver City, California 90266

Meeting Time:       2nd Tuesday, 7:30 p.m.

Phone Number:       310-792-6404

Fax Number:         310-792-6406

Web Site:           www.realestateclub-la.com

Email:              phyllis@realestateclubla.com

No. Members:        750

                Real Estate Investors Forum of Stanislaus County

Contact
                Debra Guttas
Person:

Meeting
                2051 Geer Road
Address:

City, State
                Turlock, California 95382
Zip:

Meeting Time: Last Wednesday, 6:00 p.m.

Phone           209-620-9265
Number:

Fax Number: 209-633-2265

Web Site:       dguttas.prucalifornia.com/index.php/page/realestateinvestmentgroup

Email:          Debra@GuttasProperties.com

                            Real Estate Wealth Network

Contact Person:      Kevin O'Connor

Meeting Location: Kiwanis Club - Hermosa Beach

Meeting Address: 2515 Valley Drive

City, State Zip:     Hermosa Beach, California 90254

Meeting Time:        4th Wednesday, 7:00 p.m.

Phone Number:        310-937-6927

Fax Number:          310-937-6957

Web Site:            www.rewealthnetwork.com

Email:               kevin@rewealthnetwork.com

No. Members:         75

                   Real Wealth Network - San Francisco Chapter

Contact Person:      Joan Leavitt

Meeting Location: Holiday Inn

Meeting Address: 275 South Airport Boulevard

City, State Zip:     San Francisco, California 94596

Meeting Time:        2nd Thursday, 6:30 p.m.
Phone Number:         925-914-0810

Web Site:             www.realwealthnetwork.com

Email:                info@realwealthnetwork.com

No. Members:          500

                                    Roseville REI Club

Contact Person:       Jenny Davis

Meeting Location: Maidu Community Center

Meeting Address: 1550 Maidu Drive

City, State Zip:      Roseville, California 95661

Meeting Time:         2nd Tuesday

Phone Number:         (916) 612-7741

Web Site:             www.rreic.com

Email:                jenny@rreic.com

No. Members:          15

                   S.I.S. International Real Estate Investment Club

Contact Person:       Judi Minage

Meeting Location: Asante Family Agency Building

Meeting Address: 2210 E. Highland Avenue, Suite 101

City, State Zip:      San Bernardino, California 92404

Meeting Time:         3rd Thursday, 7:00 p.m.

Phone Number:         909-648-3537
Fax Number:          909-797-3113

Web Site:            sisinternationalinvestmentclub.com

Email:               sisintl@adelphia.net

No. Members:         150

            Sacramento Real Estate Investment Association (SacREIA)

Contact Person:      Michael Salazar

Meeting Location: Sacramento REIA

Meeting Address: 2840 Auburn Blvd.

City, State Zip:     Sacramento, California 95821

Meeting Time:        2nd Thursday, 7:00 p.m.

Phone Number:        916-481-6607

Fax Number:          866-203-1009

Web Site:            www.SacREIA.com

Email:               info@SacREIA.com

No. Members:         60

                   Sacramento Valley Real Estate Investment Club

Contact Person:      Marlene Martinez

Meeting Location: City of Rocklin's Sunset Center

Meeting Address: 2650 Sunset Blvd

City, State Zip:     Rocklin, California 95677

Meeting Time:        2nd Saturday, 12:00 p.m.
Phone Number:      916 791-3032

Web Site:          www.svreic.com

Email:             info@svreic.com

No. Members:       25

         San Diego Creative Real Estate Investors Association (SDCIA)

Contact Person:    Bill Tan

Meeting Location: Scottish Rite Masonic Lodge

Meeting Address: 1895 Camino del Rio South

City, State Zip:   San Diego, California 92108

Meeting Time:      2nd Wednesday, 6 p.m.

Web Site:          www.sdcia.com

Email:             webmaster@sdcia.com

No. Members:       700

                        San Jose Real Estate Investors Club

Contact Person:    Geraldine Barry

Meeting Location: Decathlon Club

Meeting Address: 3250 Central Expressway

City, State Zip:   Santa Clara, California 95051

Meeting Time:      1st Thursday, 6:15 p.m

Phone Number:      408-264-3198

Fax Number:        408-273-6006
Web Site:           www.sjrei.net

Email:              gerbarry@earthlink.net

No. Members:        300

                            Silicon Valley Investment Club

Contact Person:     Helen Nong

Meeting Location: Poplar Creek Golf Course

Meeting Address: 1700 Coyote Point Drive

City, State Zip:    San Mateo, California 94401

Meeting Time:       2nd Wednesday, 6:30 p.m.

Phone Number:       408-460-0746

Web Site:           www.sviclub.com

Email:              Helen@sviclub.com

No. Members:        300

                Silicon Valley Investment Club - San Jose Chapter

Contact Person:     Brian

Meeting Location: Los Lagos Golf Course

Meeting Address: 605 Macara Ave.

City, State Zip:    San Jose, California 95121

Meeting Time:       3rd Thursday, 6:30 p.m.

Phone Number:       408-515-1122

Web Site:           www.sviclub.com
Email:             Helen@sviclub.com

No. Members:       300

               SOCAL Creative Investors Association - San Diego

Contact Person:    Jason Gilbert

Meeting Location: UCSD Copley Theater

Meeting Address: 10111 N Torrey Pines Road

City, State Zip:   La Jolla, California 92037

Meeting Time:      Every Other Thursday, 6:30 p.m.

Phone Number:      857-756-9204

Fax Number:        857-756-9204

Web Site:          www.socalcia.com

Email:             info@socalcia.com

No. Members:       1500

               Solano Real Estate Investment Club (Solano REIA)

Contact Person:    Veronica Castillo

Meeting Location: Pietro's No.2

Meeting Address: 679 Merchant Street

City, State Zip:   Vacaville, California 95688

Meeting Time:      1st Thursday, 6:00 p.m.

Phone Number:      707-631-0619

Web Site:          www.solanoreia.com
Email:             solanoreia@sbcglobal.net

No. Members:       100+

                          Southern California R.E.I.C.

Contact Person:    Louis McGraw

Meeting Location: Sizzler Restaurant

Meeting Address: 2880 W. Sepulveda Blvd.

City, State Zip:   Torrance, California 90501

Meeting Time:      1st Tuesday, 6:30 p.m.

Phone Number:      310-592-4045

Fax Number:        310-919-3188

Email:             zammcgraw@yahoo.com

No. Members:       75

                                The Investor Club

Contact Person:    Lynda Kent

Meeting Location: Angelo's Pizza

Meeting Address: 1774 California St

City, State Zip:   Redding, California 96002

Meeting Time:      2nd Wednesday, 7:00 p.m.

Phone Number:      530-221-0101

Fax Number:        530-221-0304

Email:             northstatellc@yahoo.com
No. Members:       20

             The Real Estate Investor Network- Los Angeles (REIA)

Contact Person:    Larry Loik

Meeting Location: Sportsmen's Lodge

Meeting Address: 12825 Ventura Blvd.

City, State Zip:   Studio City, California 91604

Meeting Time:      4th Thursday, 630 p.m.

Phone Number:      805-267-1173

Fax Number:        805-267-1174

Web Site:          HTTP://WWW.REINCLUB.COM

Email:             reinclub@aol.com

No. Members:       350

                The Real Estate Investor Network- Ventura (REIA)

Contact Person:    Larry Loik

Meeting Location: Hyatt Westlake Plaza Hotel

Meeting Address: 880 S. Westlake Blvd.

City, State Zip:   Westlake Village, California 91361

Meeting Time:      4th Wednesday, 6:00 p.m.

Phone Number:      805-267-1173

Fax Number:        805-267-1174

Web Site:          www.reinclub.com
Email:               theassetpro@aol.com

No. Members:         350

                   The Real Estate Investor Network-Los Angeles

Contact Person:      Larry Loik

Meeting Location: Sportsmen's Lodge

Meeting Address: 12825 Ventura Blvd.

City, State Zip:     Studio City, California 91604

Meeting Time:        4th Thursday, 6:30 pm

Phone Number:        805-267-1173

Fax Number:          805-267-1174

Web Site:            www.reinclub.com

Email:               reinclubrsvp@aol.com

No. Members:         350

                                      VallejoREI

Contact Person:      Hannah Fliegel

Meeting Location: The Cantina

Meeting Address: 411 Virginia Street

City, State Zip:     Vallejo, California 94590

Phone Number:        415-999-9348

Fax Number:          415-924-4181

Web Site:            www.vallejorei.com
Email:             Hannah@foreclosureoptionsnetwork.com

No. Members:       12

                                VLD Realty Club

Contact Person:    Igor Shekhman

Meeting Location: Truxel Business Center

Meeting Address: 4090 Truxel Road, Suite 215

City, State Zip:   Sacramento, California 95834

Meeting Time:      Thursday, 11:00 a.m.

Phone Number:      916-576-8554

Fax Number:        916-576-8556

Web Site:          www.hardmoneyinvesting.net

Email:             invest@hardmoneyinvesting.net

                   9
No. Members:


                              Your Real Estate Club

Contact Person:    Elizabeth Dunn

Meeting Location: Temcula/Brea

Meeting Address: 3020 Saturn

City, State Zip:   Brea, California 92592

Meeting Time:      Thursday

Phone Number:      (951) 347-6027
Fax Number:          (951) 695-0586

Web Site:            www.yourreclub.com

Email:               liz@yourreclub.com

No. Members:         25




                            Colorado Real Estate Clubs




                   Boulder County Real Estate Investors (BCREI)

Contact Person:      Thomas Green

Meeting Location: Fox Hill Country Club

Meeting Address: 1400 E. Hwy 119

City, State Zip:     Longmont, Colorado 80502

Meeting Time:        Third Thursday, 6:30 p.m.

Phone Number:        720-318-5445

Fax Number:          303-736-4174

Web Site:            www.bcrei.com

Email:               Tom@BCREI.org

No. Members:         120
  Colorado Association of Real Estate Investors-Colorado Springs (CAREI)

Contact Person:    Terry Bryan

Meeting Location: The Wealth Academy

Meeting Address: 4945 30th Street

City, State Zip:   Colorado Springs, Colorado 80919

Meeting Time:      3rd Wednesday, 6:30 p.m.

Phone Number:      800-665-7051 ext. 350

Fax Number:        719-685-0777

Web Site:          www.csrec.com

Email:             info@csrec.com

No. Members:       200

     Colorado Association of Real Estate Investors-South Aurora (CAREI)

Contact Person:    Angela Gurule

Meeting Location: Radisson Denver Southeast

Meeting Address: 3200 South Parker Road

City, State Zip:   South Aurora, Colorado 80014

Meeting Time:      4th Wednesday, 7:00 p.m.

Phone Number:      303-398-7035

Fax Number:        303-671-0516

Web Site:          www.carei.com

Email:             info@carei.com
No. Members:       800

                    Investment Club of the Rockies (ICOR)

Contact Person:    Greg Vogel

Meeting Location: I-25 & I-34 Best Western

Meeting Address: 5542 E US Highway 34

City, State Zip:   Fort Collins, Colorado 80522

Meeting Time:      Fourth Thursday, 7:00 p.m.

Phone Number:      970-223-5369

Web Site:          www.icorockies.com

Email:             info@icorockies.com

No. Members:       100

                                Investor Advantage

Contact Person:    Greg Parham

Meeting Location: Dave & Busters

Meeting Address: I25 & Colorado Boulevard

City, State Zip:   Denver, Colorado 80235

Meeting Time:      2nd Wednesday, 12:00 p.m.

Phone Number:      303-989-0900

Web Site:          www.investoradvantage.net

Email:             greg@vistatitle.com

No. Members:       475
                   Investors Realty Resource of Colorado (IRR)

Contact Person:     Brad Podhajsky

Meeting Location: Atrium Conferencing Center

Meeting Address: 6400 S. Fiddlers Green Circle

City, State Zip:    Greenwood Village, Colorado 80111

Meeting Time:       1st Tuesday, 6 p.m.

Phone Number:       303-805-5570

Web Site:           www.irrofcolorado.com

Email:              info@irrofcolorado.com

No. Members:        150

                                 Mastermind Investors

Contact Person:     Paul Pedri

Meeting Location: Allied Investment Network

Meeting Address: 3773 Cherry Creek North, Suite 290

City, State Zip:    Denver, Colorado 80209

Meeting Time:       1st Thursday, 6:30 p.m.

Phone Number:       303-487-0461

Web Site:           www.mastermindinvestors.net

Email:              Eproperties@comcast.net

No. Members:        534

                   Northern Colorado Creative Investors Club
Contact Person:    Fred Carollo

Meeting Location: Office Building

Meeting Address: 7251 W. 20th Street, Bldg. B

City, State Zip:   Greeley, Colorado 80634

Meeting Time:      2nd Thursday, 6:30 p.m.

Phone Number:      970-481-0525

Fax Number:        970-674-0127

Email:             fred@fredcarollo.com

No. Members:       10

                            Real Estate Advice Pros

Contact Person:    Michale Holt

Meeting Location: Holiday Inn Select Denver - Cherry Creek

Meeting Address: 455 South Colorado Boulevard

City, State Zip:   Denver, Colorado 80246

Meeting Time:      Tuesday and Thursday, 7:00 p.m.

Phone Number:      720-279-4778

Web Site:          www.realestateadvicepros.com/

Email:             Membership@RealEstateAdvicePros.com

No. Members:       100

                    Springs Real Estate Investors Network

Contact Person:    Carla Starkie
Meeting Location: Security Title - Briargate

Meeting Address: 1277 Kelly Johnson Blvd. #100

City, State Zip:   Colorado Springs, Colorado 80920

Meeting Time:      1st Saturday, 9:30 a.m.

Phone Number:      719-638-6651

Fax Number:        719-638-9082

Web Site:          www.srein.com

Email:             cdstarkie@yahoo.com

No. Members:       20

                        Western Slope Real Estate Investors

Contact Person:    David Vindiola

Meeting Location: Bray Education Center

Meeting Address: 7th and Belford Ave.

City, State Zip:   Grand Junction, Colorado 81501

Meeting Time:      2nd Wednesday, 6:30 p.m.

Phone Number:      970-261-5450

Web Site:          www.wsrei.com

Email:             wsrei@wsrei.com

No. Members:       30
                           Florida Real Estate Clubs

                          Bradenton Real Estate Club

Contact Person:    Dan Forbes

Meeting Location: Stoneybrook Club house

Meeting Address: 7515 Grand Harbour Parkway

City, State Zip:   Bradenton, Florida 34212

Meeting Time:      Fridays 11:45 a.m.

Phone Number:      941-746-0505

Web Site:          www.BradentonRealEstateClub.com

Email:             Team@Premierteam.com

No. Members:       45

                   Broward County Landlords Association

Contact Person:    Alex Prize

Meeting Location: El Palacio Hotel

Meeting Address: 4900 Powerline Road Fort

City, State Zip:   Fort Lauderdale, Florida 33309

Meeting Time:      2nd Wednesday

Phone Number:      954-753-6052

Web Site:          www.browardlandlords.com

Email:             info@browardlandlords.com
No. Members:        150

                   Broward Real Estate Investor's Association

Contact Person:     Bill Leon

Meeting Location: IGFA Fishing Hall of Fame

Meeting Address: 300 Gulf Stream Way

City, State Zip:    Davie, Florida 33317

Meeting Time:       1st Wednesday, 7:00 p.m.

Phone Number:       888-839-2444

Fax Number:         954-424-9020

Web Site:           www.breia.com

Email:              bill@wjl.net

No. Members:        450

                            Central Florida Landlords

Contact Person:     Tom Long

Meeting Location: Thacker Crossings

Meeting Address: 2009 West Vine St.,

City, State Zip:    Kissimmee, Florida 34741

Meeting Time:       1st Thursday, 6:30 p.m.

Phone Number:       407-892-5836

Web Site:           centralfloridalandlord.com

Email:              jjz231@cs.com
No. Members:       150

              Central Florida Realty Investors Association (CFRI)

Contact Person:    Cheryl Kiser

Meeting Location: The Plaza Theatre

Meeting Address: 425 N. Bumby Avenue

City, State Zip:   Orlando, Florida 32803

Meeting Time:      1st Wednesday, 6:00 p.m

Phone Number:      407-328-7773

Web Site:          www.cfri.net

Email:             admin@cfri.net

No. Members:       1000

                          Citrus Realty Investors Group

Contact Person:    John Ybarra

Meeting Location: Claw Daddys Raw Bar and Grill

Meeting Address: 1601 Southeast Highway 19

City, State Zip:   Crystal River, Florida 34429

Meeting Time:      Third Thursday, 11:30 a.m.

Phone Number:      352-228-7523

Email:             CeresHomes@Earthlink.net

No. Members:       65

                          Florida Homebuyers Alliance
Contact Person:    Arlen G. Steinke

Meeting Location: Denny's Meeting Room

Meeting Address: 3151 N.W 9th Avenue

City, State Zip:   Oakland Park, Florida 33311

Meeting Time:      3rd Wednesday, 7p.m.

Phone Number:      954-491-4321

Fax Number:        954-561-9700

Email:             arleng33339@yahoo.com

No. Members:       280

                     Florida Investor's Association(FINA)

Contact Person:    Rick Ginn

Meeting Location: Realtor Association of Martin County

Meeting Address: 43 SW Monterey Rd

City, State Zip:   Stuart, Florida 34994

Meeting Time:      3rd Wednesday, 6:00 p.m

Phone Number:      772-403-5811

Fax Number:        772-463-0056

Web Site:          www.thefina.com

Email:             info@thefina.com

                           Florida Landlord Network

Contact Person:    Paul Howard
Meeting Location: Golden Coral

Meeting Address: Southside Blvd

City, State Zip:   Jacksonville, Florida 32238

Meeting Time:      2nd & 4th Wednesday, 12:30 p.m.

Phone Number:      800-809-1530

Fax Number:        904-338-0352

Web Site:          www.flalandlord.com

Email:             info@flalandlord.com

                   Florida Real Estate Investor's Association

Contact Person:    Juan Restrepo

Meeting Address: 650 Okeechobee Blvd

City, State Zip:   West Palm Beach, Florida 33401

Meeting Time:      3rd Thursday

Phone Number:      561-819-5686

Fax Number:        561-819-6545

Web Site:          www.flreia.com

Email:             info@flreia.com

                   Gator Real Estate Investors Association

Contact Person:    Glen Woodfin

Meeting Location: Holiday Inn West Conference Center

City, State Zip:   Gainesville, Florida 32608
Meeting Time:      1st Thursday, 7:00 p.m.

Phone Number:      864-578-3553

Fax Number:        864-578-8812

Web Site:          www.GatorREIA.com

Email:             GatorREIA@yahoo.com

                     Gulf Region Exchangors and Traders

Contact Person:    Tim Mapp

Meeting Location: Dutch Heritage Restaurant

Meeting Address: 3713 Bahia Vista Street

City, State Zip:   Sarasota, Florida 34232

Meeting Time:      Fridays, 8:30 a.m.

Phone Number:      941-379-2448

Fax Number:        941-366-9675

Web Site:          www.greatexchangors.com

Email:             tim@mapprealty.com

No. Members:       75

                          Investors Resource Center

Contact Person:    Andy Tolbert

Meeting Location: Winter Park Civic Center

Meeting Address: 1050 W. Morse Blvd.

City, State Zip:   Winter Park/Orlando, Florida 32792
Meeting Time:         3rd Thursday, 6 p.m.

Phone Number:         407-831-2498

Fax Number:           407-831-2802

Email:                admin@ircflorida.com

No. Members:          500

            Jacksonville Real Estate Investors Association (JaxREIA)

Contact Person:       Kristina Obenza

Meeting Location: Bethelite Conference Center

Meeting Address: 5865 Arlington Expressway

City, State Zip:      Jacksonville, Florida 32211

Meeting Time:         1st Thursday, 6:00 p.m.

Phone Number:         888-545-7342

Fax Number:           888-632-7015

Web Site:             www.JaxREIA.org

Email:                ExecutiveDirector@jaxreia.org

No. Members:          700

                   Miami Real Estate Investors Association (MREIA)

Contact Person:       Robert K. Burns

Meeting Location: Renaissance at the Gables

Meeting Address: 2340 SW 32 Avenue, 1st Floor

City, State Zip:      Miami, Florida 33145
Meeting Time:      4th Tuesday, 6:30 p.m.

Phone Number:      305-300-6242

Fax Number:        (305) 675-0285

Web Site:          www.miamireia.com

Email:             rkburns@investmentpropertiesmiamiflorida.com

No. Members:       100

                   Millionaires Real Estate Investment Group

Contact Person:    Nathan Mathers

Meeting Location: The Signature Grand

Meeting Address: 6900 State Road 84

City, State Zip:   Davie , Florida 33317

Meeting Time:      4th Thursday 6-9 PM

Phone Number:      954-306-3586

Fax Number:        954-236-3788

Web Site:          millionairesclubonline.com

Email:             info@millionairesclubonline.com

No. Members:       200+

                            Monday Night Investors

Contact Person:    Larry Harbolt

Meeting Location: Picadilly Restaurant

City, State Zip:   St. Petersburg, Florida 33713
Meeting Time:      Mondays, 7:00 P.M.

Phone Number:      727-420-4810

Fax Number:        727-771-7199

Email:             larryharbolt@hotmail.com

No. Members:       150

            North Florida Real Estate Investors Association (NFREIA)

Contact Person:    Jay Wilkerson

Meeting Location: Jacksonville Marriott at Southpoint

Meeting Address: 4670 Salisbury Road

City, State Zip:   Jacksonville, Florida 32217

Meeting Time:      3rd Thursday, 6:00 p.m.

Phone Number:      904-651-8888

Fax Number:        877-379-6577

Web Site:          www.nfreia.com

Email:             info@nflreia.com

No. Members:       60

                         Pensacola Real Estate Navigators

Contact Person:    Woody Wolden

Meeting Location: Pensacola Civic Center

Meeting Address: Alcaniz Street

City, State Zip:   Pensacola, Florida 32504
Meeting Time:         2nd Tuesday, 6:00 p.m.

Phone Number:         850-505-4111

Fax Number:           850-505-4122

Web Site:             www.renavigators.com

Email:                woody@top10properties.com

No. Members:          200

                   Polk County Real Estate Investors Association

Contact Person:       Liz Moss

Meeting Location: Holiday Inn

Meeting Address: Hwy 98 North

City, State Zip:      Lakeland, Florida 33805

Meeting Time:         1st and 3rd Thursdays 7PM

Phone Number:         863-640-4968

Web Site:             www.pcreia.com

Email:                homesource3z@yahoo.com

No. Members:          250

                   Polk County Real Estate Networking Association

Contact Person:       Lee Vandenberg

Meeting Location: IHOP Restaurant

Meeting Address: 3427Street Rt 98 North

City, State Zip:      Lakeland, Florida 33803
Meeting Time:      Every Tuesday, 7:00 p.m.

Phone Number:      863-683-4482

Fax Number:        863-680-1768

Web Site:          mysite.verizon.net/resq65if/

Email:             leenmary@verizon.net

No. Members:       30

                              Port Charlotte REIA

Contact Person:    Jeff Hertzberg

Meeting Location: International Super Buffet

Meeting Address: 2200 Tamiani Trail

City, State Zip:   Port Charlotte, Florida 33948

Meeting Time:      Every Friday at 12:00 p.m.

Phone Number:      941-726-4162

Fax Number:        941-876-6960

Email:             jeffhertzberg@yahoo.com

No. Members:       75

                         Real Estate Investors Network

Contact Person:    Allen Johnson

Meeting Location: Denny's Restaurant

Meeting Address: 3151 NW 9th AVe

City, State Zip:   Ft. Lauderdale, Florida 33305
Meeting Time:      Every Tuesday 12:00 p.m.

Phone Number:      954-563-8521

Fax Number:        954-563-0982

Web Site:          www.REInvestorsNetwork.net

Email:             AllenJohnson@bellsouth.net

No. Members:       400

                   Sarasota Real Estate Investors Association

Contact Person:    James Willig

Meeting Location: Oriental Buffet Restaurant

Meeting Address: Corner of Bee Ridge and McIntosh

City, State Zip:   Sarasota, Florida 34233

Meeting Time:      Every Wednesday, 12:30 p.m.

Phone Number:      941-927-0040

Fax Number:        941-927-0093

Web Site:          www.SarasotaREIA.com

Email:             willig@comcast.net

No. Members:       205

             Southwest Florida Real Estate Investment Association

Contact Person:    Jeff Tumbarello

Meeting Location: Harborside Event Center

Meeting Address: 1375 Monroe Street
City, State Zip:     Fort Myers, Florida 33901

Meeting Time:        3rd Tuesday , 6:30 p.m.

Phone Number:        800-605-2910 Ext. 120

Fax Number:          239-334-2300

Web Site:            www.swflreia.com

Email:               jeff@swflreia.com

No. Members:         400

             Sun Coast Real Estate Investors Association (SREIA)

Contact Person:      Mike Stott

Meeting Location: Doubletree Hotel - Westshore

Meeting Address: 4500 W. Cypress Street

City, State Zip:     Tampa, Florida 33622-0326

Meeting Time:        First Tuesday, 7 p.m.

Phone Number:        813-882-3170

Web Site:            www.sreia.com

Email:               admin@sreia.com

                   Tampa Bay Real Estate Investors Association

Contact Person:      Dan Stojadinovic

Meeting Location: American Legion - Clearwater

Meeting Address: 1760 Turner Street

City, State Zip:     Clearwater, Florida 33756
Meeting Time:         Thursday, 6:30 p.m.

Phone Number:         813-404-7639

Fax Number:           813-354-3552

Web Site:             www.TBREIA.com

Email:                dans1@tbreia.com

No. Members:          300

                    The Ligthhouse, An Association of Landlords

Contact Person:       Ryan Kanaga

Meeting Location: Hilton Hotel

Meeting Address: 350 S. North Lake Blvd

City, State Zip:      Altamonte Springs, Florida 32714

Meeting Time:         2nd Monday, 6:30 p.m.

Phone Number:         407-772-0853

Web Site:             www.lighthouselandlords.org/

Email:                president@lighthouselandlords.org

No. Members:          80

                   The Real Estate Investors Network of NE Florida

Contact Person:       Robert Clark

Meeting Location: Howard Johnson's - I-295 & US-17

Meeting Address: 100 Park Avenue

City, State Zip:      Jacksonville, Florida 32073
Meeting Time:      1st Thursday, 7 p.m.

Phone Number:      904-378-8092

Fax Number:        904-384-1261

Web Site:          www.rein-jax.com

Email:             directmg@Bellsouth.net

No. Members:       200

          Treasure Coast Real Estate Investors Association (TCREIA)

Contact Person:    Mike Perl

Meeting Location: Spring Hill Suites Marriott

Meeting Address: 2000 N.W. Courtyard Circle

City, State Zip:   St. Lucie West, Florida 34986

Meeting Time:      4th Wednesday, 6:30 p.m.

Phone Number:      772-343-7338

Fax Number:        772-340-0521

Web Site:          www.tcreia.com

Email:             tcreia@yahoo.com

No. Members:       140

                    Urban Real Estate Investors Association

Contact Person:    Michael Chatman

Meeting Location: Greater Miami Chamber of Commerce

Meeting Address: 1601 Biscayne Boulevard
City, State Zip:    Miami, Florida 33131

Meeting Time:       2nd Saturday, 9:00 a.m.

Phone Number:       305-479-2403

Email:              mchatmaninc@aim.com

No. Members:        250

                Wealth Builders Real Estate Investors Association

Contact Person:     Mike Rodetsky

Meeting Location: Alacarte Pavilion

Meeting Address: 4050 Dana Shores Drive

City, State Zip:    Tampa, Florida 33634

Meeting Time:       3rd Tuesday, 6:00 p.m.

Phone Number:       800-335-0256

Fax Number:         727-593-3152

Web Site:           www.reea.com

Email:              epetracco@aol.com

No. Members:        1000

                           Wealth In Real Estate ( W.I.R.E.)

Contact Person:     Bobby & Marie Bryan

Meeting Location: Golden Corral - Mandarin

Meeting Address: 11470 San Jose Blvd

City, State Zip:    Jacksonville, Florida 32211
Meeting Time:      2nd Wednesday, 7:00 p.m.

Phone Number:      904-389-8800

Fax Number:        904-389-8500

Web Site:          www.jaxwire.com

Email:             marie@jaxwire.com

No. Members:       100

                      Young Entrepreneurs Society (YES)

Contact Person:    John Greer

Meeting Location: Steak & Ale Restaurant

Meeting Address: 4034 So. Tamiami Trail

City, State Zip:   Sarasota, Florida 34239

Meeting Time:      Every Tuesday, 11:30 a.m.

Phone Number:      941-927-5646

Fax Number:        941-926-3733

Web Site:          www.yes941.com

Email:             jgreer7777@aol.com

No. Members:       150




                          Georgia Real Estate Clubs



                   Georgia Real Estate Investors Association
Contact Person:    Anne Galasso

Meeting Location: Intergras Financial Center

Meeting Address: 4001 Presidential Parkway

City, State Zip:   Atlanta, Georgia 30340

Meeting Time:      2nd Monday, 5:00 p.m.

Phone Number:      770-451-8800

Fax Number:        770-451-4900

Web Site:          www.gareia.org

Email:             anne@gareia.org

No. Members:       3000

         Investors Resource Center of Atlanta (North Atlanta Chapter)

Contact Person:    Mark Stuart

Meeting Location: Crown Plaza Ravinia Hotel

City, State Zip:   Dunwoody, Georgia 30346

Meeting Time:      2nd Thursday, 6:00 p.m.

Phone Number:      678-999-3896

Fax Number:        678-393-9125

Web Site:          www.reiatl.com/Index.html

Email:             reiatl@bellsouth.net

No. Members:       100

      Macon Middle Georgia Real Estate Investors Association (GAREIA)
Contact Person:    Chris Peisher

Meeting Location: Mid Ga. Ambulance Rear Building

Meeting Address: 2025 Vineville Ave.

City, State Zip:   Macon, Georgia 31201

Meeting Time:      3rd Thursday, 6:30 p.m.

Phone Number:      478-955-2321

Fax Number:        800-813-8357

Web Site:          www.gareia.org/web/L2.asp?SID=7&CID=8

No. Members:       40

                   Macon Real Estate Investment Association

Contact Person:    William Tingle

Meeting Location: The Macon REIA Building

Meeting Address: 3225 Pio Nono Ave.

City, State Zip:   Macon, Georgia 31206

Meeting Time:      2nd Tuesday, 7:00 p.m.

Phone Number:      478-993-6082

Fax Number:        800-471-1160

Web Site:          www.MaconREIA.com

Email:             info@MaconREIA.com

No. Members:       75

                               North Metro REIA
Contact Person:    Buddy Corbin

Meeting Location: North Metro Technical College

Meeting Address: 5198 Ross Rd NE, Building 400

City, State Zip:   Acworth, Georgia 30102

Meeting Time:      1st Thursday, 5:30 PM - 9:00 PM

Phone Number:      770-573-2143

Fax Number:        770-573-9232

Web Site:          www.NorthMetroREIA.com

Email:             info@northmetroreia.com

No. Members:       290




                           Illinois Real Estate Clubs

                    Central Illinois Investor's Association

Contact Person:    Ellen Denler

Meeting Location: Morton Library

City, State Zip:   Pekin, Illinois 61554

Meeting Time:      2nd Thursday, 6:00 p.m.

Phone Number:      309-353-7900

Web Site:          www.ciia.us

Email:             sewdogs@gmail.com

No. Members:       50
                   Chicago Area Real Estate Investors Association

Contact Person:       Mike Hagen

Meeting Location: Ramada Inn of Glendale Heights

Meeting Address: 780 E. North Ave.

City, State Zip:      Glendale Heights, Illinois 60139

Meeting Time:         2nd. Monday, 7:30 p.m.

Phone Number:         630-942-9500

Web Site:             www.careia.org

Email:                info@careia.org

No. Members:          100

                      Chicago Creative Investors Association

Contact Person:       Jane Garvey

Meeting Location: College of DuPage

Meeting Address: 425 Fawell Avenue

City, State Zip:      Glen Ellyn, Illinois 60137

Meeting Time:         Third Sunday, 6:00 p.m.

Phone Number:         630-858-4663

Fax Number:           630-858-4357

Web Site:             www.ccia-info.com

Email:                CCIA@CCIA-Info.com

No. Members:          600
                         Metro East Landlords Association

Contact Person:    Wes Talcott

Meeting Location: American Legion

City, State Zip:   Collinsville, Illinois 62234

Meeting Time:      1st Monday of the Month/7:00pm

Phone Number:      618-877-6352

Web Site:          www.mela-il.com

Email:             tallibtax@msn.com

No. Members:       300+

                              Midwestrea of Chicago

Contact Person:    Jim Hughes

Meeting Location: The Centre Of Elgin, Heritage Ballroom

Meeting Address: 100 Symphony Way

City, State Zip:   Elgin, Illinois 60123

Meeting Time:      Wednesday, 7:00 p.m.

Phone Number:      847-741-9797

Fax Number:        847-741-9697

Web Site:          www.midwestrea.com

Email:             jim@midwestrea.com

No. Members:       650

                              Northern Illinois REIA
Contact Person:    Gladys Gort

Meeting Location: Normandy Banquet Hall

Meeting Address: 3002 West Ilinois Route 120

City, State Zip:   McHenry, Illinois 60050

Meeting Time:      1st Wednesday, 7:00 p.m

Phone Number:      815-363-0233

Fax Number:        815-363-8891

Web Site:          www.northernilrea.com

Email:             northernilrea@comcast.net

No. Members:       200+

                                  Philip Elmes

Contact Person:    The Urban Rehabber Program

Meeting Location: Ramada LakeShore Conference Center

Meeting Address: 4900 So. Lake Shore Drive

City, State Zip:   Chicago, Illinois 60615

Meeting Time:      2nd or 3rd Saturday

Phone Number:      800-506-5686 x701

Web Site:          www.urbanrehabber.com

Email:             info@urbanrehabber.com

No. Members:       300+

                          RA Chicago Investors Group
Contact Person:      Gina Clifford

Meeting Location: Elmhurst Public Library

City, State Zip:     Elmhurst, Illinois 60126

Meeting Time:        3rd Wednesday,7p.m.

Phone Number:        630-883-4210

Fax Number:          630-225-0317

Web Site:            www.TheQueenofShortSales.com

Email:               Gina@stonecastlerealtyinc.com

No. Members:         40

                   South Suburban Real Estate Investors (SSREI)

Contact Person:      Joe Bianchi

Meeting Location: Prairie State College

Meeting Address: Halsted Street

City, State Zip:     Chicago Heights, Illinois 60411

Meeting Time:        3rd Tuesday, 7:00 p.m.

Phone Number:        708-572-0200

Fax Number:          708-332-9619

Web Site:            www.ssrei.org/

Email:               contact@ssrei.org

No. Members:         50

                                      Street REIA
Contact Person:    Gary Tretter

Meeting Location: Elks Lodge

Meeting Address: 9480 Old Lincoln Trail

City, State Zip:   Fairview Heights, Illinois 62208

Meeting Time:      1st Tuesday, 6:00 p.m.

Phone Number:      636-600-6282

Fax Number:        636-779-0021

Web Site:          www.streetreia.com

Email:             info@streetreia.com

No. Members:       250

                                     WCRT

Contact Person:    Ryan Steele

Meeting Location: Waterford Banquet Center

Meeting Address: 933 South Riverside Drive

City, State Zip:   Elmhurst, Illinois 60126

Meeting Time:      1st Thursday at 7:00 pm

Phone Number:      312-560-5675

Web Site:          www.wcrt.org

Email:             membership@wcrt.org

No. Members:       500
                           Maryland Real Estate Clubs

                   Baltimore Real Estate Investors Association

Contact Person:     Joe DiMaggio

Meeting Location: Holiday Inn Towson

Meeting Address: 1100 Cromwell Bridge Road

City, State Zip:    Towson, Maryland 21286

Meeting Time:       3rd Thursday, 6:30 p.m.

Phone Number:       410-569-0345

Fax Number:         410-583-7833

Web Site:           www.baltimorereia.com/

Email:              info@baltimorereia.com

No. Members:        250

                             Beltway Breakfast Club

Contact Person:     Steve Johnson

Meeting Location: Beltway Motel And Rest

Meeting Address: Call for Directions

City, State Zip:    Baltimore, Maryland 21230

Meeting Time:       Tuesdays, 9:30 a.m.

Phone Number:       410-644-0663

Email:              scjohnsonmusic@aol.com

                          Capital Area REIA / Annapolis
Contact Person:    Scott Parker

Meeting Location: Annapolis Radisson

Meeting Address: 210 Holiday Court

City, State Zip:   Annapolis, Maryland 21401

Meeting Time:      3rd Wednesday, 6:15 p.m.

Phone Number:      571-261-2152

Fax Number:        571-261-2151

Web Site:          www.capitalareareia.com

Email:             info@capitalareareia.com

No. Members:       50

          DC/Central Maryland Real Estate Investor's Group (DCREIA)

Contact Person:    Sherman Ragland

Meeting Location: Florian Hall

Meeting Address: 13701 Old Jericho Park Road

City, State Zip:   Bowie, Maryland 20001

Meeting Time:      2nd Saturday, 9:30 a.m.

Phone Number:      301-218-4333

Fax Number:        202-783-0099

Web Site:          www.DCREIA.com

Email:             info@dcreia.com

No. Members:       500
            Greater Washington, DC Real Estate Investors Association

Contact Person:     Sherman Ragland

Meeting Location: Florian Hall

Meeting Address: 13701 Old Jericho Park Road

City, State Zip:    Bowie, Maryland 20720

Meeting Time:       2nd Saturday, 9:00 a.m.

Phone Number:       202-783-0093 x221

Fax Number:         202-783-0099

Web Site:           www.DCREIA.com

Email:              lwicks@tradewinds-int.com

No. Members:        500

                    Maryland Real Estate Exchange Network

Contact Person:     Charles Parrish

Meeting Location: Investors United School of Real Estate

Meeting Address: 6721 Harford Road

City, State Zip:    Baltimore, Maryland 21234

Meeting Time:       1st Saturday, 10:00 a.m.

Phone Number:       443-253-3886

Fax Number:         410-426-8000

Web Site:           www.mdrealestateclub.com/

Email:              Charles@investorsunited.com
No. Members:       200

            Mid-Atlantic Real Estate Investor Association (MAREIA)

Contact Person:    Alan Chantker

Meeting Location: Ruth's Chris Steakhouse

Meeting Address: I-695 and Reisterstown Road

City, State Zip:   Pikesville, Maryland 21208

Meeting Time:      2nd Monday, 6:30 p.m.

Phone Number:      443-738-3600

Fax Number:        410-864-8559

Web Site:          www.mareia.com

Email:             Hello@mareia.com

No. Members:       350

                      Real Estate Investors Society, LLC

Contact Person:    Chris Majerle

Meeting Location: Greenbelt Community Center

Meeting Address: 15 Crescent Road, Room 201

City, State Zip:   Greenbelt, Maryland 20770

Meeting Time:      3rd Wednesday, 7:00 p.m.

Phone Number:      301-220-1850

Web Site:          www.reislink.net

Email:             info@reislink.net
                       Young Investors Club of Crofton

Contact Person:    Joshua Inak

Meeting Location: Crofton Library

City, State Zip:   Crofton, Maryland 21114

Meeting Time:      Wednesdays, 7:00 p.m.

Phone Number:      443-306-7787

Email:             gariart@aol.com

No. Members:       6




                       Massachusetts Real Estate Clubs

                                 Boston Area REIA

Contact Person:    Bernadette Trafton

Meeting Location: Hilton Garden Inn

Meeting Address: 420 Totten Pond Road

City, State Zip:   Waltham, Massachusetts 01879

Meeting Time:      3rd Thursday 6:30 OM

Phone Number:      866-378-3037

Fax Number:        321-226-6464

Web Site:          www.bostonAREIA.com
Email:             bernadette@BostonAREIA.com

No. Members:       180

                                 Cape Cod AREI

Contact Person:    Jeff Howard

Meeting Location: Best Western Bridge-Bourne Motel

Meeting Address: 100 Trowbridge Rd

City, State Zip:   Bourne, Massachusetts 02532

Meeting Time:      1st Wednesday, 6:30 p.m.

Phone Number:      877-773-5333

Fax Number:        702-447-5417

Web Site:          www.CapeCodAREI.com

No. Members:       50

                              Eastern Mass REIA

Contact Person:    John Ingram

Meeting Location: Radisson Hotel

Meeting Address: 929 Hingham Street

City, State Zip:   Rockland, Massachusetts 02370

Meeting Time:      2nd Thursday, 6:30 p.m.

Phone Number:      888-588-REIA (7342)

Fax Number:        781-294-8282

Web Site:          www.EasternMassREIA.com
Email:             john@easternmassreia.com

No. Members:       142

  Massachusetts Real Estate Investors and Apartment Owners Association

Contact Person:    David J. Faneuf

Meeting Location: Crown Plaza

Meeting Address: 10 Lincoln Sq

City, State Zip:   Worcester, Massachusetts 01603

Meeting Time:      3rd Wednesday, 7:00 p.m.

Phone Number:      508-987-8806 Ext 705

Web Site:          www.massreia.com

Email:             d.faneuf@massreia.com

No. Members:       402

                Massachusetts Real Estate Investors Association

Contact Person:    Mike Hurney

Meeting Location: Peabody Marriott

Meeting Address: 8A Centennial Drive

City, State Zip:   Peabody, Massachusetts 01960

Meeting Time:      4th Tuesday, 6:00 p. m.

Phone Number:      781-639-8616

Web Site:          www.MassRealEstate.net

Email:             mreia@comcast.net
                           Metro West Investors Group

Contact Person:      Peter Garian

Meeting Location: Crowne Plaza Hotel

Meeting Address: 1360 Worchester St.

City, State Zip:     Natick, MA, Massachusetts 01760

Meeting Time:        First Tuesday, 7:00 p.m.

Phone Number:        508-533-1999

Fax Number:          508-960-3385

Web Site:            www.MetroWestInvestors.com

Email:               metrowestinvestors@yahoo.com

No. Members:         98

                   New England Real Estate Investor Association

Contact Person:      Jared Williams

Meeting Location: Best Western Hotel

Meeting Address: 187 Chelmsford Street

City, State Zip:     Chelmsford, Massachusetts 01824

Meeting Time:        1st Wednesday , 7:00 p. m.

Phone Number:        603-887-0950

Email:               ajp@gsinet.net

No. Members:         75

                     The Boston Landlord and Investor Group
Contact Person:    Matt Martinez

Meeting Location: The Hillery Holding Building

Meeting Address: 258 West Broadway

City, State Zip:   Boston, Massachusetts 02127

Meeting Time:      Email for details

Phone Number:      617-448-5550

Web Site:          www.landlordandinvestor.com/

Email:             info@landlordandinvestor.com

No. Members:       1250

                                 Turning The Key

Contact Person:    Sheila Farragher-Gemma

Meeting Location: Holiday Inn

Meeting Address: 55 Ariadne Road

City, State Zip:   Dedham, Massachusetts 02026

Meeting Time:      First Thursday, 6:30 p.m.

Phone Number:      617-275-4800

Web Site:          ForeclosuresMass.com

Email:             support@foreclosuresmass.com

No. Members:       10

                                   Worcester REI

Contact Person:    James Greelish
Meeting Location: Crowne Plaza Hotel and Resorts

Meeting Address: 10 Lincoln Square

City, State Zip:   Worcester, Massachusetts

Meeting Time:      4th Thursday, 6:30 PM

Phone Number:      978-342-7312

Fax Number:        413-778-0018

Web Site:          www.worcesterrei.com

Email:             info@worcesterrei.com



                           Michigan Real Estate Clubs

                         Associated Landlords of Detroit

Contact Person:    Reggie Fluker

Meeting Location: The HomeOffice Center

Meeting Address: Call for Address

City, State Zip:   Oak Park, Michigan 48237

Meeting Time:      1st Monday

Phone Number:      313-832-0523

Email:             info@realestateinvestorsnetwork.com

No. Members:       121

                         Genesse Landlords Association

Contact Person:    Mike Neurohr

Meeting Address: 2540 S. Grand Traverse
City, State Zip:   Flint, Michigan 48503

Phone Number:      810-767-3080

Web Site:          www.geneseelandlordassoc.org

                   Lenawee Area Rental Housing Association

Contact Person:    Guy Cox

Meeting Address: 4040 Monroe Road, Box 96

City, State Zip:   Tipton, Michigan 49287

Phone Number:      517-431-2041

                             My Real Estate Group

Contact Person:    Boyd Rudy

Meeting Location: My Real Estate Store

Meeting Address: 7779 N. Henry Ruff

City, State Zip:   Westland, Michigan 48185

Meeting Time:      4th Wednesday, 6:30 p.m.

Phone Number:      248-388-1680

Fax Number:        734-464-3058

Email:             team@teamsoldllc.com

No. Members:       55

                         National Real Estate Network

Contact Person:    Mark Maupin

Meeting Location: Laurel Manor
Meeting Address: 39000 Schoolcraft Rd

City, State Zip:   Livonia, Michigan 48150

Meeting Time:      3rd Thursday, 6:00 p.m.

Phone Number:      248-762-0800

Fax Number:        734-402-0279

Web Site:          www.megaeveningevent.com

Email:             mmaupin@donaterealestate.com

No. Members:       100

            Northern Michigan Real Estate Investment Association

Contact Person:    Alex Misico

Meeting Location: Elks Club

Meeting Address: 625 Bay

City, State Zip:   Traverse City, Michigan 49684

Meeting Time:      1st Monday, 5:30 p.m.

Phone Number:      231-947-5437

Fax Number:        231-947-5437

Email:             amisico@voyager.net

No. Members:       40

                    Novi Real Estate Investors Association

Contact Person:    Allan Cassell

Meeting Location: Novi Sheraton
Meeting Address: 21111 Haggerty

City, State Zip:   Novi, Michigan 48375

Meeting Time:      2nd Tuesday, 6:00 p.m.

Phone Number:      734-330-4014

Fax Number:        734-461-6857

Web Site:          www.novirealestateinvestors.com

Email:             novirealestateinvestors@gmail.com

                   Real Estate Investors Assoc. of Oakland

Contact Person:    Chris Yatooma

Meeting Location: Knights of Columbus Hall

Meeting Address: 870 N. Main Street

City, State Zip:   Clawson, Michigan 48017

Meeting Time:      2nd Thursday, 5:30 p.m.

Phone Number:      800-747-6742

Fax Number:        877-263-9574

Web Site:          www.reiaofoakland.com

Email:             reianews@aol.com

No. Members:       400

              Real Estate Investors Association of Wayne County

Contact Person:    Wayde Koehler

Meeting Address: P.O. Box 5341
City, State Zip:   Dearborn, Michigan 48128

Phone Number:      313-386-7228

Fax Number:        313-386-7600

          Real Estate Investors of Macomb County (REIA of Macomb)

Contact Person:    Dylan Tanaka

Meeting Location: Best Western Georgian Inn

Meeting Address: 31327 Gratiot Avenue

City, State Zip:   Roseville, Michigan 48066

Meeting Time:      4th Thursday, 7:00 p.m.

Phone Number:      586-435-7113

Fax Number:        586-816-0470

Web Site:          www.REIAofMacomb.com

Email:             info@REIAofMacomb.com

No. Members:       175

                         Real Estate Investors of Michigan

Contact Person:    Clay Powell

Meeting Location: Radisson Hotel

Meeting Address: 270 Ann Street NW

City, State Zip:   Grand Rapids, Michigan

Meeting Time:      3rd Wednesday, 6:00 p.m.

Phone Number:      800-701-7762
Fax Number:        616-454-3385

Web Site:          www.reiofmi.org

Email:             contactrei@reiofmi.org

No. Members:       1,840

                     Rental Property Owners Association

Contact Person:    Clay Powell

Meeting Location: Abacus Chinese Restaurant

Meeting Address: 2675 28th St. SW

City, State Zip:   Wyoming, Michigan 49519

Meeting Time:      6:00 PM Thursdays

Phone Number:      800-701-7762

Fax Number:        616-454-6163

Web Site:          www.rpoaonline.org

Email:             contractrpoa@rpoaonline.org

No. Members:       1720

                           Wealth Investor Network (WIN)

Contact Person:    Jill Shepard

Meeting Location: Embassy Suites - Detroit-Livonia

Meeting Address: 19525 Victor Parkway

City, State Zip:   Livonia, Michigan 48152

Meeting Time:      2nd Tuesday, 7p.m.
Phone Number:         810-714-5335

Fax Number:           810-714-2349

Web Site:             www.CashFlowMI.com

Email:                sbscaryn@msn.com

No. Members:          100

                              Windy City Round Table

Contact Person:       Jared Pomranky

Meeting Location: La Casa Inn & Suites

Meeting Address: 1 W 9 Mile Rd

City, State Zip:      Hazel Park, Michigan 48030

Meeting Time:         1st Tuesday, 7:00 p.m.

Phone Number:         248-506-8364

Fax Number:           248-920-0824

Web Site:             www.wcrtdetroit.com

Email:                jared.pomranky@wcrtdetroit.com

No. Members:          30



                             Missouri Real Estate Clubs

                   Mid-America Assocition of Real Estate Investors

Contact Person:       Kim or Don Tucker

Meeting Location: Overland Park Marriot

City, State Zip:      Kansas City, Missouri 64114
Meeting Time:      2nd Tuesday, 6:00 p.m.

Phone Number:      816-523-4400

Fax Number:        816-523-4448

Web Site:          www.MAREInet.com

Email:             info@MAREInet.com

No. Members:       400

                                   NetWorth KC

Contact Person:    Gregory Pregon

Meeting Location: Panera Bread Company

Meeting Address: 1128 West 103rd Street

City, State Zip:   Kansas City, Missouri 64114

Meeting Time:      Wednesday, 8:00 am

Phone Number:      816-237-1058

Email:             greg@pregon.us

No. Members:       300

                    Real Estate Investors Group of SW MO

Contact Person:    Dee Felton

Meeting Location: Library Center

Meeting Address: South Campbell

City, State Zip:   Springfield, Missouri 65810

Meeting Time:      2nd Thursday, 7:00 p.m.
Phone Number:       (417) 877-8074

Email:              realestateinvestorsgroupswmo@gmail.com

No. Members:        16

                             Southwest Missouri REIA

Contact Person:     Howard Burnison

Meeting Location: SMB Community Room

Meeting Address: 801 Duquesne

City, State Zip:    Joplin, Missouri 64804

Meeting Time:       First Thursday , 7:00 p.m.

Phone Number:       417-439-8961

Email:              bcsmo@yahoo.com

No. Members:        8

                   St. Louis Real Estate Investor's Association

Contact Person:     Ruth Hollander

Meeting Address: 7930 Croydon St.

City, State Zip:    St. Louis, Missouri 63123

Phone Number:       314-962-9255

                                      STREET

Contact Person:     Patty Kistler

Meeting Location: RiverChase Recreation Complex

Meeting Address: 990 Horan Drive
City, State Zip:   Fenton, Missouri 63026

Meeting Time:      2nd Friday, 6:00 p.m.

Phone Number:      636-600-6282

Fax Number:        636-600-6283

Web Site:          www.street-llc.com

Email:             STREETLLC@yahoo.com

No. Members:       40

                         The RGC Real Estate Network

Contact Person:    TIm Grimmett

Meeting Location: Westport Comfort Inn

City, State Zip:   St. Louis, Missouri 63114

Meeting Time:      1st Friday, 7:00 p.m.

Phone Number:      314-733-0500

Fax Number:        314-733-0509

Email:             rhinotg@aol.com

                        The Wealth Improvement Network

Contact Person:    Marlene Trice

Meeting Location: Comfort Inn - Westport

Meeting Address: 12031 Lackland Road

City, State Zip:   St. Louis, Missouri 63146

Meeting Time:      1st Thursday, 6 p.m.
Phone Number:        314-477-3886

Fax Number:          636-498-0028

Web Site:            www.STLWIN.com

Email:               info@STLWIN.com

No. Members:         150




                           New Jersey Real Estate Clubs

                             Garden State Apartments

Contact Person:      Sandeep Kancherla

Meeting Location: Newark Airport Marriot

Meeting Address: Route 1&9

City, State Zip:     Newark, New Jersey 07103

Meeting Time:        Second Thursday Monthly

Phone Number:        973-954-2787

Web Site:            www.gardenstateapartments.com/meetings.php

Email:               events@gardenstateapartments.com

                   Garden State Real Estate Investors Association

Contact Person:      T. Reaves

Meeting Location: Sheraton Hotel Newark Airport

Meeting Address: 128 Frontage Rd

City, State Zip:     Newark, New Jersey 07114
Meeting Time:         4th Wednesday @ 6 p.m.

Phone Number:         973-275-1442

Fax Number:           800-603-0119

Web Site:             www.gsreia.com

Email:                gardenstatereia1@yahoo.com

No. Members:          500

                     Hunterdon - Warren County Investment Club

Contact Person:       Raymond Maleski

Meeting Location: Clinton Station Diner

Meeting Address: 2 Bank St.

City, State Zip:      Clinton, New Jersey 08809

Meeting Time:         First Wednesday, 7 p.m.

Email:                Raymaleski@Gmail.com

                   Metropolitan Real Estate & Investors Association

Contact Person:       Nick Zampetti

Meeting Location: Woodbridge Hilton

Meeting Address: 120 Woods Avenue South

City, State Zip:      Cranford, New Jersey 07016

Meeting Time:         Third Monday, 6:30 p.m.

Phone Number:         201 343 8629

Web Site:             www.mreia.com
Email:             secretary@mreia.com

No. Members:       450

                   New Jersey Real Estate Investment Club

Contact Person:    Christopher Goodson, Esq.

Meeting Location: Call

City, State Zip:   Paramus,, New Jersey 07652

Meeting Time:      3rd Thursday, 6:30 p.m.

Phone Number:      973-220-1179

Fax Number:        973-235-0594

Web Site:          www.NJReClub.com

Email:             NJRealEstate@gmail.com

No. Members:       1200

                           Premier Real Estate Club

Contact Person:    Kevin Levonas

Meeting Address: 707 Route 46 East

City, State Zip:   Parsippany, New Jersey 07054

Meeting Time:      Fourth Thursday, 7:00 p.m.

Phone Number:      732-981-1992

Fax Number:        732-465-1339

Email:             PNAseminars@gmail.com

No. Members:       70
                          South Jersey Investors Inc.

Contact Person:    Bonnie Rakes

Meeting Location: Collingswood Senior Community Center

Meeting Address: 30 West Collings Avenue

City, State Zip:   Collingswood, New Jersey 08108

Meeting Time:      3rd Tuesday, 7:00 p.m.

Phone Number:      856-663-1133

Web Site:          www.southjerseyinvestors.com

Email:             info@southjerseyinvestors.com

No. Members:       535




                         New York Real Estate Clubs

                                Big Apple REIA

Contact Person:    Al Johnson

Meeting Location: Eastwood Manor

Meeting Address: 3371 Eastchester Road

City, State Zip:   Bronx, New York 10469

Meeting Time:      4th Wednesday, 6:30 p.m.

Phone Number:      718-654-2694
Fax Number:           718-732-2074

Web Site:             www.BigAppleREIA.com

Email:                BigAppleREIA@yahoo.com

No. Members:          325

                                  Brooklyn REIClub

Contact Person:       Janet Meriwether - President

Meeting Location: Brooklyn Library - DeKalb Avenue Branch

Meeting Address: 790 Bushwick Avenue

City, State Zip:      Brooklyn, New York 11221

Meeting Time:         4th Saturday, Call for Time

Phone Number:         917-345-3045

Fax Number:           831-303-4075

Email:                JannahBin2@hotmail.com

No. Members:          15

                   Central New York Investors Association (CNYIA)

Contact Person:       Jerry Greene

Meeting Location: All Phaze Building

Meeting Address: 10 Main Street

City, State Zip:      Whitesboro, New York 13492

Meeting Time:         3rd Tuesday, 6:00 p.m.

Phone Number:         315-264-9235
Web Site:           www.cnyia.org/

Email:              jerry@cnyia.org

No. Members:        15

                          Freedom First REIA (FFREIA)

Contact Person:     Scott Gonyeo

Meeting Location: Brighton Town Hall

Meeting Address: 2300 Elmwood Avenue

City, State Zip:    Rochester, New York 14618

Meeting Time:       2nd Thursday, 7:00 p.m.

Phone Number:       585-453-2288

Web Site:           www.ffreia.com

Email:              sgonyeo@gmail.com

No. Members:        100

         Greater Westchester Real Estate Investors Association (GWREIA)

Contact Person:     Marlene Lambert

Meeting Location: Ramada Plaza Hotel

Meeting Address: 1 Ramada Plaza

City, State Zip:    New Rochelle, New York 10466

Meeting Time:       4th Tuesday, 6:30 p.m.

Phone Number:       718-325-4112

Fax Number:         718-325-0588
Web Site:             www.gwreia.com

Email:                gwreia@yahoo.com

No. Members:          100

                                         LIREIA

Contact Person:       Melissa Gagliano

Meeting Location: Huntington Hilton

Meeting Address: 598 Broadhollow Road

City, State Zip:      Melville, New York 11747

Meeting Time:         2nd Tuesday, 7:00 p.m.

Phone Number:         631-845-1000

Fax Number:           631-845-1223

Web Site:             www.lireia.com

Email:                info@lireia.com

No. Members:          250

                   Mid-Hudson Valley Real Estate Investment Club

Contact Person:       Curt Darragh

City, State Zip:      Poughkeepsie, New York 12603

Phone Number:         877-571-0918

Web Site:             www.hudsonvalleyreiclub.homestead.com

Email:                homeinvestor@ureach.com

                                 New York City REIA
Contact Person:     Al Johnson

Meeting Location: SLC Conference Center

Meeting Address: 352 7th Avenue,16th Floor (30th St)

City, State Zip:    New York City, New York 10001

Meeting Time:       Fourth Wednesday, 6:30 p.m.

Phone Number:       718-654-2694

Web Site:           www.NYCreia.com

Email:              NYCREIA@yahoo.com

No. Members:        925

                New York State Real Estate Investors Association

Contact Person:     Bob Eberle

Meeting Location: Hudson Valley Community College

Meeting Address: Bulmer Telecommunications Center

City, State Zip:    Troy, New York 12180

Meeting Time:       3rd Tuesday , 6 p.m.

Phone Number:       518-786-8896

Fax Number:         518-786-0888

Web Site:           www.nyreia.org

Email:              membership@nyreia.org

No. Members:        250

                     Real Estate Investment Education Club
Contact Person:    Les Jansson

Meeting Location: Domenic's Resturant

Meeting Address: 3270 - A Hempstead Turnpike

City, State Zip:   Levittown, New York 11756

Meeting Time:      4th Wednesday 6:30 PM

Phone Number:      516-298-4135

Fax Number:        516-771-1953

Web Site:          www.reiec.com

Email:             info@reiec.com

No. Members:       200

                   Real Estate Investors of Central New York

Contact Person:    Jack Zimmerman

Meeting Location: Bella Domani Catering

Meeting Address: 5988 E. Taft Rd

City, State Zip:   N. Syracuse, New York 13208

Meeting Time:      2nd Wednesday, 7:00 p.m.

Phone Number:      315-475-0701

Fax Number:        315-475-0708

Web Site:          www.reicny.org

Email:             HARBINGER@TWCNY.RR.COM

No. Members:       125
                     Rochester Real Estate Investors Club

Contact Person:    TJ Harrington

Meeting Location: Diplomat Banquet Center

Meeting Address: 1956 Lyell Avenue

City, State Zip:   Rochester, New York 14606

Meeting Time:      3rd Thursday, 6:30 p.m.

Phone Number:      585-697-4088

Fax Number:        585-219-5208

Web Site:          www.UpstateNYREIA.com

Email:             tjharrington1@gmail.com

No. Members:       150

                         Ultimate Investors Real Estate Inc

Contact Person:    Wesley Barney

Meeting Location: New York City

City, State Zip:   New York City, New York 11369

Meeting Time:      last Tuesday or Thursday, 6:30 p.m.

Phone Number:      718-424-7583

Web Site:          www.wbultimateinvestors.net

Email:             barneywesley@hotmail.com

No. Members:       275

                   Upstate New York Real Estate Investors
Contact Person:    T.J. Harrington

Meeting Location: Wishing Well Party House

Meeting Address: 390 and Chili Avenue

City, State Zip:   Rochester, New York 14622

Meeting Time:      4th Thursday, 7:00 p.m.

Phone Number:      585-697-4088

Web Site:          www.UpstateNYREIA.com

Email:             tj@tjthemortgageman.com

No. Members:       150

                   Western New York Real Estate Investors

Contact Person:    Nick Sidoti

Meeting Address: Box 637

City, State Zip:   Grand Island, New York 14072

Phone Number:      716-773-2980



                             Ohio Real Estate Clubs

                     Akron Canton Real Estate Investors

Contact Person:    Kay Lukac

Meeting Location: Knights of Columbus

Meeting Address: 2055 Glenmount Ave

City, State Zip:   Akron, Ohio 44319

Meeting Time:      2nd Wednesday, 7 p.m.
Phone Number:         330-283-5771

Fax Number:           330-247-1700

Web Site:             www.acreia.org

Email:                jcp@email.com

No. Members:          225

                     Ashtabula Real Estate Investors Association

Contact Person:       Dennis Carberry

Meeting Location: Guyreino's Deli

Meeting Address: 1033 Lake Avenue

City, State Zip:      Ashtabula, Ohio 44004

Meeting Time:         2nd Tuesday, 7:00 p.m.

Phone Number:         440-964-8709

Web Site:             www.areia.org

Email:                dthomas@web2e.com

No. Members:          125

                   Columbus Property Investors Association (CPIA)

Contact Person:       Todd Smith

Meeting Location: Ramada Plaza Hotel

Meeting Address: 4900 Sinclair Road

City, State Zip:      Columbus, Ohio 43229

Meeting Time:         3rd Tuesday, 6:00 p.m.
Phone Number:      614-774-8146

Web Site:          www.CPIAonline.com

Email:             homebuyer23@gmail.com

No. Members:       50

             Columbus Real Estate Investors Association (CREIA)

Contact Person:    David Zehala

Meeting Location: Makoy Center

Meeting Address: 5462 Center Street

City, State Zip:   Hilliard, Ohio 43026

Meeting Time:      1st Thursday, 6:00 p.m.

Phone Number:      614-554-4882

Fax Number:        614-455-0895

Web Site:          www.columbusreia.com

Email:             columbusreia@gmail.com

No. Members:       417

                            Fostoria Area Landlords

Contact Person:    Claude Funk

Meeting Address: 21770 TWP Road 218

City, State Zip:   Fostoria, Ohio 44830

Phone Number:      419-894-6547

                Greater Dayton Real Estate Investors Association
Contact Person:      Jerri Todd

Meeting Location: Sinclair Community College

Meeting Address: Bldg 12, 4th & Perry

City, State Zip:     Beavercreek, Ohio 45434

Meeting Time:        6:30 P.M 1st & 3rd Wednesday

Phone Number:        937-586-3726

Fax Number:          937-586-3699

Web Site:            www.GDREIA.com

Email:               gdreia@meinet.com

No. Members:         400

                   Newton Falls Real Estate Investors Association

Contact Person:      Rick Wiesner

Meeting Location: Newton Fall Community Center

Meeting Address: 52 E. Quarry St.

City, State Zip:     Newton Falls, Ohio 44444

Meeting Time:        7:00 p.m.

Phone Number:        330-872-7046

Fax Number:          330-872-3586

Web Site:            www.newtonfalls-reia

Email:               rwie197@aol.com

No. Members:         25
                      Real Estate Investment Club of Cleveland

Contact Person:       Edward Sullivan

Meeting Address: 16141 Puritas Avenue

City, State Zip:      Cleveland, Ohio 44135

Meeting Time:         Last Saturday, 11:00 a.m.

Phone Number:         216-472-3414

Web Site:             www.reiacleveland.com/

Email:                REIACleveland@estateanswers.com

No. Members:          4

                          Real Estate Investors Association Inc.

Contact Person:       Dennis Zab

Meeting Address: P.O. Box 24802

City, State Zip:      Cleveland, Ohio 44124

Phone Number:         216-751-5000

                   Real Estate Investors' Association of Columbus

Contact Person:       Rose Morris

Meeting Address: POB 307465

City, State Zip:      Columbus, Ohio 43230

Phone Number:         614-475-5038

Fax Number:           614-475-5088

Web Site:             www.reiacolumbus.org
Email:             info@reiacolumbus.org

                           REIANO Plus - Cleveland

Contact Person:    Mary Lou Best

Meeting Location: Holiday Inn - Independence

City, State Zip:   Cleveland, Ohio 44102

Meeting Time:      3rd or 4th Wed. 7 pm

Phone Number:      216-651-6655

Fax Number:        216-961-8816

Web Site:          www.reiano.com

Email:             info@reiano.com

             Southeastern Ohio Real Estate Investors Association

Contact Person:    Edward Burke

Meeting Location: Theo's Resturant

Meeting Address: 632 Wheeling Ave

City, State Zip:   Cambridge, Ohio 43725

Meeting Time:      7:00 pm 3rd Monday

Phone Number:      740-432-2515

Fax Number:        740-489-5080

Email:             seoreia@yahoo.com

No. Members:       40
                          Pennsylvania Real Estate Clubs

                             ACRE of Pittsburgh, Inc.

Contact Person:      Jeffrey Kasmer

Meeting Address: P.O. Box 1927

City, State Zip:     Pittsburgh, Pennsylvania 15230

Phone Number:        888-422-7340

Fax Number:          724-824-8632

Email:               jeffkasmer@aol.com

                   Central Region Residential Owners Association

Contact Person:      Ginny Chuba

Meeting Address: P.O. Box 1258

City, State Zip:     State College, Pennsylvania 6804-1258

Phone Number:        814-238-4967

                    Diversified Real Estate Investor Group (DIG)

Contact Person:      Elaine Kochanski

Meeting Location: Lulu Shriners

Meeting Address: 5140 Butler Pike

City, State Zip:     Plymouth Meeting, Pennsylvania 19462

Meeting Time:        4th Thursday, 6:30 p.m.;

Phone Number:        215-712-2525

Web Site:            www.digonline.org/
Email:                info@digonline.org

No. Members:          1200

                         Indiana County Rental Association

Contact Person:       Amy Provias

Meeting Address: 2588 Cresswell Road

City, State Zip:      Indiana, Pennsylvania 15701

Phone Number:         724-479-8642

                   Landlords & Investors Mastermind Group (LIMG)

Contact Person:       Judah Hoover

Meeting Location: Life Center

Meeting Address: 411 South 40th Street

City, State Zip:      Harrisburg, Pennsylvania 17111

Meeting Time:         4th Thursday, 7:00 p.m.

Phone Number:         717-652-3900

Fax Number:           717-652-1988

Email:                judahh@sfcloan.com

No. Members:          245

           Western Pennsylvania Real Estate Investors Association

Contact Person:       Jean Yevick

Meeting Location: Radisson - Greentree

Meeting Address: 101 Radisson Drive
City, State Zip:   Pittsburgh, Pennsylvania 15211

Meeting Time:      3rd Tuesday, 7:00 p.m.

Phone Number:      412-381-5677

Fax Number:        412-381-4168

Web Site:          www.westernpareia.com

Email:             wpreia@aol.com

No. Members:       430

               Wyoming Valley Real Estate Investors Association

Contact Person:    Skip Phillips

Meeting Address: P.O. Box 2633

City, State Zip:   Wilkes-Barre, Pennsylvania 18703-2633

Phone Number:      610-398-9005



                         South Carolina Real Estate Clubs

                    Capitol City Real Estate Investors, LLC

Contact Person:    Janice Lane

Meeting Location: Saluda Shoals Park

Meeting Address: 5605 Bush River Road

City, State Zip:   Columbia, South Carolina 29212

Meeting Time:      2nd Thursday, 6:30 p.m.

Phone Number:      803-948-8033

Fax Number:        803-753-0043
Web Site:            www.screi.com

Email:               janicelane@sc.rr.com

No. Members:         250

                   Charleston Real Estate Investor's Association

Contact Person:      Bobby Wallace

Meeting Location: N. Charleston Inn

Meeting Address: 2934 W. Montague Ave

City, State Zip:     Charleston, South Carolina 29419

Meeting Time:        Tuesday, 6:00 p.m.

Phone Number:        843-200-5617

Fax Number:          800-896-0402

Web Site:            www.charlestonrei.com

Email:               charlestonreia.gmail.com

No. Members:         19

                                     ElectricREIA

Contact Person:      Tony Zamberlin

Meeting Location: Anderson Library

Meeting Address: 300 N. Mcduffie St.

City, State Zip:     Anderson, South Carolina 29625

Meeting Time:        2nd & 4th Tuesday, 6:30 p.m.

Phone Number:        864-932-7221
Email:               tonyzamb@gmail.com

No. Members:         10

                    Foothills Real Estate Investors Association

Contact Person:      David Root

Meeting Location: Spartanburg Community College

Meeting Address: 800 Brisack Rd

City, State Zip:     Spartanburg, South Carolina 29305

Meeting Time:        2nd Thursday, 7:00 p.m.

Phone Number:        864-205-9421

Fax Number:          864-578-8812

Web Site:            www.FoothillsREIA.com

Email:               DavidhRoot@yahoo.com

                   Grand Strand Real Estate Investor Association

Contact Person:      Lisa Terrill

Meeting Location: Holiday Inn West

Meeting Address: 101 Outlet Blvd

City, State Zip:     Myrtle Beach, South Carolina 29579

Meeting Time:        2nd Tuesday, 6:30 p.m.

Phone Number:        1-800-758-0845

Fax Number:          1-843-236-6566

Web Site:            www.grandstrandreia.com
Email:              info@grandstrandreia.com

No. Members:        50

            South Carolina Real Estate Investors Association (SCREIA)

Contact Person:     Del HInds

Meeting Location: Holiday Inn

Meeting Address: 5264 International Boulevard

City, State Zip:    Charleston, South Carolina 29418

Meeting Time:       Second Wednesday, 6:30 p.m.

Phone Number:       843-881-0001

Web Site:           www.screia.com

Email:              screia@aol.com

No. Members:        120

         Upstate Carolina Real Estate Investors Association (UCREIA)

Contact Person:     Bill Clark

Meeting Location: Embassy Suites

Meeting Address: 670 Verdae Blvd.

City, State Zip:    Greenville, South Carolina 29607

Meeting Time:       3rd Monday, 7 p.m.

Phone Number:       864-542-4202

Fax Number:         864-609-5247

Web Site:           www.UpstateCREIA.com
Email:             UpstateCREIA@yahoo.com

No. Members:       261



                             Texas Real Estate Clubs

                           Alamo Investors Association

Contact Person:    Linda Zeigler

Meeting Location: Airport Hilton

Meeting Address: 611 NW Loop 410

City, State Zip:   San Antonio, Texas 78213

Meeting Time:      1st Thursday, 6:00 p.m.

Phone Number:      210-979-2626

Fax Number:        210-493-1447

Web Site:          www.alamoinvestors.com

Email:             info@alamoinvestors.com

No. Members:       162

                         Arlington Real Estate Association

Contact Person:    Dennis Henson

Meeting Location: Chase Bank Bldg

Meeting Address: 1301 S. Bowen Rd. Room 301

City, State Zip:   Arlington, Texas 76016

Meeting Time:      4th Saturday Each month 10:00AM

Phone Number:      (817) 371-8658
Web Site:          realestate.meetup.com/445/

Email:             dennisjhenson@yahoo.com

No. Members:       100

            Association of Independent Real Estate Owners (AIREO)

Contact Person:    John Zarrella

Meeting Location: Doubletree Hotel at Campbell Center

Meeting Address: 8250 North Central Expressway

City, State Zip:   Dallas, Texas 75207

Meeting Time:      Second Thursday, 7:30 p.m.

Phone Number:      214-761-1996

Fax Number:        214-761-0761

Web Site:          www.aireo.ORG

Email:             zarrellateaches@aol.com

No. Members:       300

                     Austin Real Estate Networking Club

Contact Person:    Shenoah Peck

Meeting Location: Ventana del Sol

Meeting Address: 1834 East Oltorf

City, State Zip:   Austin, Texas 78741

Meeting Time:      3rd Thursday, 7:00 p.m.

Web Site:          www.austinrenc.com/
Email:             shenoah@alumni.rice.edu

No. Members:       100

                                    AustinREIA

Contact Person:    Scott Friedson

Meeting Location: Barton Creek Resort

Meeting Address: 8212 Barton Club Drive

City, State Zip:   Austin, Texas 78735

Meeting Time:      First Saturday, 9:00 a.m.

Phone Number:      512-366-3349

Fax Number:        832-615-0451

Web Site:          www.austinreia.com

Email:             scott@austinreia.com

No. Members:       10

                          Cedar Park Real Estate Club

Contact Person:    Jerri Conrado

Meeting Location: Austin Community College Cypress Creek Campus

Meeting Address: 1555 Cypress Creek Road, Bldg. 2000, Room 2113

City, State Zip:   Cedar Park, Texas 78613

Meeting Time:      Last Tuesday, 6:30 p.m.

Phone Number:      512-219-0996

Fax Number:        512-257-9329
Web Site:            www.cedarparkrealestateclub.com

Email:               jrc@jrcpromotions.com

No. Members:         26

                           Central Texas Investors Club

Contact Person:      Rick Gossett

Meeting Location: Compass Bank Building

Meeting Address: 1227 N. Valley Mills Dr

City, State Zip:     Waco, Texas 76710

Meeting Time:        Last Monday, 6:30 p.m.

Phone Number:        254-776-5888

Fax Number:          254-776-6797

Web Site:            www.centraltexasinvestorsclub.com

Email:               info@centraltexasinvestorsclub.com

No. Members:         200

                                    Clear Lake REIA

Contact Person:      Alexander Rubio

City, State Zip:     Clear Lake, Texas 77059

Phone Number:        619-675-9809

Web Site:            www.groups.yahoo.com/group/clearlakereia

Email:               amediamgt@yahoo.com

                   Dallas Fort Worth Investor Network (DFWREIN)
Contact Person:    Cathy Crowe-League

Meeting Location: DoubleTree Hotel

Meeting Address: Midway & LBJ (635)

City, State Zip:   Dallas, Texas 75244

Meeting Time:      First Thursday, 7:00 p.m.

Phone Number:      972-671-7346

Fax Number:        972-692-7304

Web Site:          www.dfwrein.com

Email:             cathy@dfwrein.com

No. Members:       1025

            Johnson County Area Real Estate Investors Organization

Contact Person:    Darrell Johnson

Meeting Location: First National Bank of Burleson

Meeting Address: 740 SW Wilshire Blvd

City, State Zip:   Burleson, Texas 76028

Meeting Time:      1st Thursday 6-9 PM

Phone Number:      817-975-0978

Fax Number:        817-426-3883

Web Site:          www.jcareio.com

Email:             darrelljohnson@jcareio.com

No. Members:       50
                                    Nubys Group

Contact Person:    Robin Carriger

Meeting Location: Dixie House Cafe

Meeting Address: 5401 Blue Mound Rd

City, State Zip:   Fort Worth, Texas 76106

Meeting Time:      1st Saturday, 11:00 a.m.

Phone Number:      817-300-1132

Fax Number:        817-581-7520

Web Site:          www.nubysgroup.com

Email:             info@nubysgroup.com

No. Members:       1065

                             Profit Club of Amarillo

Contact Person:    Ryan Webber

Meeting Location: Association of Realtors Building

Meeting Address: 5601 Enterprise

City, State Zip:   Amarillo, Texas 79101

Meeting Time:      3rd Tuesday, 6:30 p.m.

Phone Number:      806-336-7295

Email:             johnnyhorton@wtxcoxmail.com

No. Members:       300

              Real Estate Investment Club of Austin (REICAUSTIN)
Contact Person:    Ashton Mouton

Meeting Location: 8500 Building

Meeting Address: 8500 Shoal Creek Blvd.

City, State Zip:   Austin, Texas 78757

Meeting Time:      2nd Tuesday, 6:30 p.m.

Phone Number:      800-844-9639 ext. 6025

Fax Number:        512-233-1747

Web Site:          reicaustin.org

Email:             consultant@reicaustin.org

No. Members:       150

              Real Estate Investment Training Club (REITC) CLUB

Contact Person:    Greg Bell

Meeting Location: Duncanville Best Western (Dallas Suburb)

Meeting Address: 922 Hwy 67

City, State Zip:   Duncanville, Texas 75137

Meeting Time:      2nd Tuesday, 6:30 p.m.

Phone Number:      972-642-6600

Fax Number:        972-692-5978

Web Site:          www.reitc.com

Email:             GREG@REITC.COM

No. Members:       100
                   Real Estate Investors Organization (REIO-FW)

Contact Person:      Jimmy Reed

Meeting Location: Best Western Suites

Meeting Address: 2000 Beach St.

City, State Zip:     Fort Worth, Texas 76103

Meeting Time:        4th Thursday 7:00 p.m.

Phone Number:        817-731-0120

Web Site:            reio-fw.com

Email:               ibuycash@jimmyvreed.com

No. Members:         1500

                    Realty Investment Club of Houston (RICH)

Contact Person:      Trish Doherty

Meeting Location: University of Houston Hilton Hotel

Meeting Address: 4800 Calhoun Road

City, State Zip:     Houston, Texas 77204

Meeting Time:        1st Saturday, 8 a.m.

Phone Number:        713-947-7424

Fax Number:          713-335-9444

Web Site:            www.richclub.org

Email:               info@richclub.org

No. Members:         2000
                                     REIoSA

Contact Person:    Rick Hernandez

Meeting Location: Little Italy Restaurant

Meeting Address: 824 Afterglow

City, State Zip:   San Antonio, Texas 78216

Meeting Time:      1st Thursday 6:30

Phone Number:      (210) 379-1636

Web Site:          www.reiosa.com

Email:             info@reiosa.com

                                     RGVREIC

Contact Person:    David Fair

Meeting Location: Best Western Palm Aire

Meeting Address: 415 South International Boulevard

City, State Zip:   Weslaco, Texas 78596

Meeting Time:      3rd Thursday, 7:00 p.m.

Phone Number:      956-631-4361

Fax Number:        956-631-4366

Web Site:          www.rgvreic.com

Email:             rgvreia@aol.com

No. Members:       20

            San Antonio Real Estate Investors Association (SAREIA)
Contact Person:    Orlando Rodriguez

Meeting Location: Omni Hotel

Meeting Address: 9821 Colonnade Boulevard

City, State Zip:   San Antonio, Texas 78230

Meeting Time:      1st Tuesday. 6:00 p.m.

Phone Number:      210-662-0297

Web Site:          www.sareia.com

Email:             rewealth@aol.com

No. Members:       600

                      Texas Real Estate Investors Circle

Contact Person:    Iain Day

Meeting Location: Crowne Plaza Suites

Meeting Address: 7800 Alpha Road

City, State Zip:   Dallas, Texas 75240

Meeting Time:      6 pm, Tuesday, April 24th, 2007

Phone Number:      469 233 1722

Fax Number:        214 276 1338

Web Site:          www.texasrealestateinvestorscircle.com

Email:             gowerprops@sbcglobal.net

No. Members:       240
                            Utah Real Estate Clubs

                                  Caracal Club

Contact Person:    Michael Foss

Meeting Location: Columbus Travel Building

Meeting Address: 563 West 500 South

City, State Zip:   Bountiful, Utah 84010

Meeting Time:      Every Friday 12 p.m

Phone Number:      801-617-2100

Web Site:          www.caracalclub.com/

Email:             info@caracalclub.com

No. Members:       15

                            Fast Track Investments

Contact Person:    John Hammans

Meeting Location: AllPro Office

Meeting Address: 1992 W Antelope Dr #1A

City, State Zip:   Layton, Utah 84041

Meeting Time:      6:30 PM 3rd Wednesday

Phone Number:      801-390-7042
Fax Number:           801-728-0325

Web Site:             www.fasttrackinvestorsclub.com

Email:                clearinvesting@aol.com

No. Members:          25

                   Northern Utah Real Estate Investors Association

Contact Person:       Jared Bradley

Meeting Location: Logan City Hall Conference Room

Meeting Address: 255 North Main Street

City, State Zip:      Logan, Utah 84321

Meeting Time:         4th Tuesday, 7:00 p.m.; 4th Tuesday, 7:00 p.m.

Phone Number:         435-764-3231

Web Site:             www.nureia.org

Email:                info@nureia.org

No. Members:          30

     Salt Lake / Wasatch Area Creative Real Estate Investors Association

Contact Person:       Scott L. Moyes

Meeting Location: Salt Lake County Libraries

Meeting Address: 10673 S Redwood Rd

City, State Zip:      Salt Lake City, Utah 84070

Meeting Time:         2nd Tuesday, 6:30 p.m.

Phone Number:         (801) 838-7989
Fax Number:           866-734-9773

Web Site:             www.WAREIA.com

Email:                info@wareia.com

No. Members:          650

                     Salt Lake Real Estate Investors Association

Contact Person:       Tom Lakey

Meeting Location: Miller Auditorium SLCC Campus, Sandy Campus

Meeting Address: 9750 S 300 West

City, State Zip:      Sandy, Utah

Meeting Time:         2nd Wednesday, 6:15 p.m.

Phone Number:         801-830-4830

Fax Number:           801-434-4216

Web Site:             www.slreia.com

Email:                tom@velvetsecurities.com

No. Members:          1000

                   Southern Utah Real Estate Investors Association

Contact Person:       John Shaver

Meeting Location: Conference Room

Meeting Address: 1060 S. Main Street

City, State Zip:      St. George, Utah 84770

Meeting Time:         3rd Wednesday, 7:00 p.m.
Phone Number:      435-632-9358

Fax Number:        435-628-2594

Web Site:          www.sureia.com

Email:             utahsrealtor@aol.com

No. Members:       20

                   Tooele Real Estate Investors Association

Contact Person:    David Crane

Meeting Location: Tooele City Library

Meeting Address: 128 W. Vine Street

City, State Zip:   Tooele, Utah 84074

Meeting Time:      3rd Thursday, 6:30 p.m.

Phone Number:      435-849-2140

Email:             tooelereia@gmail.com

                   10
No. Members:


                    Utah Creative Real Estate Association

Contact Person:    Irene Bozich

Meeting Location: KFC

Meeting Address: 3900 South State Street

City, State Zip:   Salt Lake City, Utah 84115

Meeting Time:      2nd Thursday, 6:30 p.m.
Phone Number:      801-913-6195

Fax Number:        801-944-8819

Web Site:          www.ucrea.net

Email:             ireneb1103@yahoo.com

No. Members:       500

            Utah Valley Real Estate Investors Association (UVREIA)

Contact Person:    Chad Bennett

Meeting Location: Provo Library

Meeting Address: 550 N. University Ave.

City, State Zip:   Provo, Utah 84601

Meeting Time:      2nd Friday, 12:30 p.m.

Phone Number:      801-734-9735

Fax Number:        800-986-3170

Web Site:          www.uvreia.com

Email:             contact@uvreia.com

No. Members:       550




                          Virginia Real Estate Clubs

                               Capital Area REIA
Contact Person:    Carolina Zeeb

Meeting Location: Tysons Corner Westin

Meeting Address: 7801 Leesburg Pike

City, State Zip:   Falls Church, Virginia 22043

Meeting Time:      3rd Thursday, 6:00 p.m.

Phone Number:      877-250-7342

Fax Number:        202-318-7299

Web Site:          www.capitalareareia.com

Email:             info@capitalareareia.com

No. Members:       300

                   DC/Virginia Real Estate Investors Group

Contact Person:    Sandy Schaefer

Meeting Location: Westgate Training Center

Meeting Address: 4500 Southgate Place

City, State Zip:   Chantilly, Virginia 20151

Meeting Time:      3rd Saturday, 8:00 a.m.

Phone Number:      800-393-3138

Fax Number:        703-991-2486

Web Site:          www.dcvareig.com

Email:             info@dciallc.com

No. Members:       600
                   Peninsula Real Estate Investors Association

Contact Person:     Theresa Holland

Meeting Location: Hampton Clarion Hotel

Meeting Address: 1809 West Mercury Boulevard

City, State Zip:    Hampton, Virginia 23666

Meeting Time:       Second Thursday, 6:00 p.m.

Phone Number:       757-875-9248

Web Site:           www.peninsulareia.com

Email:              Theresa@peninsulareia.com

No. Members:        160

                    Real Estate Community Networking Group

Contact Person:     Frazier O'Leary

Meeting Location: Please see website

City, State Zip:    Alexandria, Virginia 22304

Meeting Time:       Mondays, 6-9 p.m.

Phone Number:       703-349-2934

Fax Number:         703-995-0448

Web Site:           www.RealEstateCNG.com

Email:              info@RealEstateCNG.com

No. Members:        450

                   Richmond Real Estate Investors Association
Contact Person:     Troy Ross

Meeting Location: Richmond Association of Realtors

Meeting Address: 8975 Three Chopt Road

City, State Zip:    Richmond, Virginia 23230

Meeting Time:       4thThursday, 7:00 p.m.

Phone Number:       804-715-9415

Fax Number:         804-715-3927

Web Site:           www.rreia.org

Email:              admin@rreia.org

No. Members:        185

                   Tidewater Real Estate Investor Group (TRIG)

Contact Person:     Tracy Boswell

Meeting Location: Crown Plaza Hotel

Meeting Address: Bonney Road

City, State Zip:    Virginia Beach, Virginia 23453

Meeting Time:       Third Tuesday, 7:30 p.m.

Phone Number:       757-301-3497

Web Site:           www.trigofva.com

Email:              TRIGofVA@cox.net

No. Members:        340

                             Washington Metro REIA
Contact Person:    Ed Rooney

Meeting Location: Hilton Hotel

Meeting Address: 5000 Seminary Road

City, State Zip:   Alexandria, Virginia 22311

Meeting Time:      4th Saturday, 8:30 a.m.

Phone Number:      703-750-3347

Web Site:          www.wmreia.com

Email:             info@wmreia.com

No. Members:       950




                         Washington Real Estate Clubs

                   Bellingham Real Estate Investor Network

Contact Person:    Dan O'Donnell

Meeting Location: Fox Hall, Bellingham Hampton Inn

Meeting Address: 3985 Bennett Drive

City, State Zip:   Bellingham, Washington 98225

Meeting Time:      4th Thursday, 6 p.m.

Phone Number:      800-691-3036

Web Site:          www.breinonline.org

Email:             postmaster@breinonline.org

No. Members:       115
                           Central Washington REIA

Contact Person:    Debbie Schulte

Meeting Location: Varies

City, State Zip:   Yakima, Washington 98908

Meeting Time:      3rd Tuesday, 7:00 p.m.

Phone Number:      509-480-0017

Fax Number:        509-457-4568 call first

Web Site:          www.centralwashingtonreia.com

Email:             dschulte2001@aol.com

No. Members:       45

            Columbia Basin Real Estate & Wealth Management Club

Contact Person:    Dana Mundy

Meeting Location: near Walmart

Meeting Address: 2700 Duportail

City, State Zip:   Richland, Washington 99352

Meeting Time:      3rd Wednesday

Phone Number:      509-735-6603

Fax Number:        509-735-6638

Web Site:          www.columbiabasinrei.com

Email:             dana@columbiabasinREI.com

No. Members:       10
                   National Real Estate Investors Spokane

Contact Person:    Chris McIntosh

Meeting Location: Windermere Building

Meeting Address: 15812 E. Indiana Ave

City, State Zip:   Spokane Valley, Washington 99216

Meeting Time:      2nd Wednesday, 6:30 p.m.

Phone Number:      509-496-1026

Fax Number:        509-534-1589

Web Site:          finance.groups.yahoo.com/group/NREI-Spokane/

Email:             mcintoc@comcast.net

No. Members:       142

                     National Srategic Investment Group

Contact Person:    Steve Hettema

Meeting Location: NSIC Financial Center

Meeting Address: 1616 SE Ellis Ct.

City, State Zip:   Port Orchard, Washington 98367

Meeting Time:      Varies

Phone Number:      888-788-4472

Fax Number:        360-876-4843

Web Site:          www.nsicgroup.com

Email:             steveh@nsicgroup.com
No. Members:       67,000

                    Northwest Real Investors Association

Contact Person:    Kirby Reynolds

Meeting Location: Lynnwood Convention Center

Meeting Address: 11200 S.E. 6th Street

City, State Zip:   Lynnwood, Washington 98004

Meeting Time:      3rd Thursday, 7:00 p.m.

Phone Number:      206-498-2350

Fax Number:        206-838-1161

Web Site:          www.nwria.com

Email:             info@nwria.com

No. Members:       450

                   Real Estate Association of Puget Sound

Contact Person:    Jessica Hansen

Meeting Location: Lake Washington Tech

Meeting Address: 11605 132nd Avenue NE

City, State Zip:   Kirkland, Washington 98115

Meeting Time:      4th Thursday, 7:00 p.m.

Phone Number:      425-458-4797

Fax Number:        425-458-4794

Web Site:          www.reapsweb.com
Email:             jessica@reapsweb.com

No. Members:       1200

              Real Estate Investors Association of Washington (R

Contact Person:    Shirley Henderson

Meeting Location: Hyatt Regency Bellevue

Meeting Address: 900 Bellevue Way NE

City, State Zip:   Bellevue, Washington 98004

Meeting Time:      2nd Monday 6-9PM

Phone Number:      1-877-454 REIA

Web Site:          REIAwa.com

Email:             info@REIAwa.com

No. Members:       200

                                The Real Estate Club

Contact Person:    Coy Anglin

Meeting Location: Tacoma Elks Lodge

Meeting Address: 1965 South Union

City, State Zip:   Tacoma, Washington 98406

Meeting Time:      4th Tuesday

Phone Number:      253-531-4000

Fax Number:        253-531-8790

Web Site:          www.realestateendeavor.com/the_real_estate_club.php
Email:             info@reendeavor.com

No. Members:       120

                      The Real Estate Investors of Kitsap

Contact Person:    Terry Arndt

Meeting Location: Poulsbo Library

Meeting Address: 700 NE Lincoln Road

City, State Zip:   Poulsbo, Washington 98370

Meeting Time:      1st Thursday, 6:30 p.m.

Phone Number:      206-780-8039

Web Site:          www.reikitsap.com

Email:             info@reikitsap.com
Real Estate Investing Abbreviations



AFD - Agreement For Deed


AITD - All Inclusive Trust Deed
APR - Annual Percentage Rate


ARM - Adjustable Rate Mortgage


ARV - After-Repaired Value


BOM - Back On Market


BOR - Board of Realtors


BPO - Broker's Price Opinion


CAD - County Appraisal District


CAP - Capitalization


CCIM - Certified Commercial Investment Member


CCR - Conditions, Covenants, and Restrictions


CFD - Contract for Deed


CLTV - Combined Loan To Value


CMA - Comparative Market Analysis


COCR - Cash on Cash Return


COF - Cost of Funds
COO - Certificate of Occupancy


CRB - Certified Residential Broker


CRE - Creative Real Estate


CRS - Certified Residential Specialist


DBA - Doing Business As


DCR - Debt Coverage Ratio


DOS - Due On Sale Clause


DOT - Deed of Trust


DSCR - Debt Service Coverage Ratio


FCRA - Fair Credit Reporting Act


FFE - Furniture, Fixture, and Equipment


FHA - Federal Housing Administration


FHLMC - Federal Home Loan Mortgage Corporation, Freddie Mac


FMR - Fair Market Rent


FMV - Fair Market Value
FNMA - Federal National Mortage Association, Fannie Mae


FRBO - For Rent by Owner


FSBO - For Sale by Owner


GMAC - General Motors Acceptance Corporation


GRM - Gross Rent Multiplier


HELOC - Home Equity Line of Credit


HML - Hard Money Lender


HOA - Homeowners Association


HUD - Housing and Urban Development


HVAC - Heating, Ventilation and Air Conditioning


IRA - Individual Retirement Account


IRC - Internal Revenue Code


IRR - Internal Rate of Return


IRS - Internal Revenue Service


L/O - Lease Option
L/P - Lease Purchase


L/S - Landlord Seller


LIBOR - London Interbank Offering Rate


LLC - Limited Liability Company


LOC - Line of Credit


LOI - Letter of Intent


LP - Limited Partnership


LPOA - Limited Power of Attorney


LTV - Loan to Value


MAI - Member Appraisal Institute


MAO - Maximum Allowable Offer


MIP - Mortgage Insurance Premium


MLS - Multiple Listing Service


MUD - Municipal Utility District


NAR - National Association of Realtors
NIV - No Income Verification


NNN - Triple Net Lease


NOD - Notice of Default


NOI - Net Operating Income


NOO - Non-Owner Occupant


O/F - Owner Finance


OO - Owner Occupant


P&S - Purchase and Sale


PITI - Principal Interest Taxes Insurance


PMI - Private Mortgage Insurance


POA - Power of Attorney


PUD - Planned Unit Development


REI - Real Estate Investing / Real Estate Investor


REIA - Real Estate Investors Association


REIT - Real Estate Investment Trust
REO - Real Estate Owned


ROI - Return On Investment


RTO - Rent to Own


SFH - Single Family House


SFR - Single Family Residence


Sub2 - Buying property subject to existing financing


T/B - Tenant Buyer


TAA - Texas Apartment Association


TAR - Texas Association of Realtors


TIL - Truth In Lending


TREC - Texas Real Estate Commission


UBIT - Unrelated Business Income Tax


UCC - Uniform Commercial Code


VA - Department of Veterans Affairs / Veterans Administration
Real Estate Investing Glossary




Abstract of Judgment - The summary of a court judgment that creates a lien against

a property when filed with the county recorder


Abstract of Title - historical summary of all of the recorded instruments and

proceedings that affect title to a property.


Accelerated Cost Recovery System - A tax calculation that provides greater

depreciation in the early years of ownership of real estate or personal property.


Acceleration Clause - a loan provision giving the lender the right to declare the entire

amount immediately due and payable upon violation of another specific loan provision,

commonly referred to as the Due on Sale Clause.


Acceptance - a buyers or sellers agreement to enter into a contract and be bound by

the terms of the offer.


Accrued Interest - interest that has been earned but not paid.


Accumulated Depreciation - in accounting, the amount of depreciation expense that

has been claimed to date.


Acknowledgment - a declaration by a person who has signed a document that such

signature is a voluntary act, made before a duly authorized person.
Acquisition Cost - the price and all fees required to obtain a property.


Acquisition Loan - money borrowed for the purpose of purchasing a property.


Acre - a two dimensional measure of land equaling 4,840 square yards or 43,560

square feet.


Addendum - something added as an attachment to a contract.


Additional Principal Payment - Extra money included in the monthly payment to help

reduce the principal and shorten the term of the loan.


Adjoining - contiguous, attached, sharing a common border.


Adjustable Rate Mortgage (ARM) - a mortgage loan that allows the interest rate to

be changed at specific intervals over the maturity of the loan, based on a monitored

index.


Adjusted Cost Basis - The cost of any improvements the seller makes to the

property. Deducting the cost from the original sales price provides the profit or loss of

a home when it is sold.


Adjusted Tax Basis - the original cost or other basis of the property, reduced by

depreciation deductions and increased by capital expenditures.


Adjustment Period - The amount of time between interest rate adjustments in an

adjustable-rate mortgage.
Administrator - a person appointed by a court to administer the estate of a deceased

person who left no will.


Administrator's Deed - A legal document that an administrator of an estate uses to

transfer property.


Adverse Possession - a means of acquiring title to real estate where an occupant

has been in actual, open, notorious, exclusive and continuous occupancy of property

for the period required by state law.


Affidavit - a written statement, sworn to or affirmed before an officer who is

authorized to administer an oath or affirmation.


Agency - the legal relationship between a principal and his agent arising from a

contract in which the principal engages the agent to perform certain acts on behalf of

the principal.


Agreement for Deed - see Contract for Deed.


Alienation - to convey or transfer title and possession of property.


All Inclusive Trust Deed - This applies to states that use trust deeds instead of

mortgages. It is the same as a wraparound mortgage.


Amortized Loan - loan that is repaid in a series of installments each of which contains

a portion that is applied to reduce the principal amount of the loan and a portion that is

applied to pay interest with each successive payment allocates a larger portion to
principal reduction and a smaller portion to interest payment until the outstanding

balance is ultimately reduced to zero.


Annual Cap - maximum amount the interest rate on an adjustable rate mortgage can

be raised or lowered in the course of one twelve month period.


Annual Percentage Rate (APR) - effective rate of interest rate for a loan per year

including fees and points, disclosure of which is required by the Truth-in-Lending Law.


Anticipatory Breach - A communication that informs a party that the obligations of

the original contract will not be fulfilled.


Appraised Value - opinion or estimate of a value of a property, values are determined

by one of three methods: comparable sales (residential), replacement cost

(insurance), or income approach (commercial).


Appreciation - an increase in the value of a property.


Arrears - mortgage payment includes interest for prior month, or overdue payments in

default.


As-Is - without guarantees as to condition.


Assessed Value - the value established for property tax purposes.


Assignee - the person to whom an agreement or contract is sold or transferred.
Assignment - the method by which a right or contract is transferred.


Assignor - the person who assigns or transfers an agreement or contract to another.


Assumable Mortgage - An existing mortgage which allows the next purchaser of a

property to be liable for the payments and other obligations of the note and mortgage.

Depending on the type of loan, the assumption of the obligation by this next purchaser

may or may not require a qualification and approval process and may or may not

release the original mortgagor (borrower) from further liability. A written release from

the mortgagee (lender) is required to relieve the original mortgagor of responsibility.


Attornment - A tenant's formal agreement to be a tenant of a new landlord.




                                            B

Backup Contract - a contract to buy real estate that becomes effective if a prior

contract fails to be consummated.


Balance - see Principal Balance.


Balloon Loan - a loan that has level monthly payments that will amortize it over a

stated term (e.g., 30 years) but that requires a lump sum payment of the entire

principal balance at the end of a shorter term (e.g., 10 years).


Balloon Payment - An installment payment which is larger (most often much larger)

than the other scheduled payments. It is usually the last payment. If a note is written
for $50,000 at a fixed 9.0% rate of interest with payments based on an amortization

schedule of 30 years and a balloon payment due in 5 years, the first 60 payments will

each be $402.31 (the normal payment for a 30 year loan at 9.0% interest) and the last

payment will be $47,940.15 which will be the outstanding balance remaining after the

60th payment.


Bankruptcy - the financial inability to pay one's debts when due causes the debtor to

seek relief through court action.


Bankruptcy Discharge - the release of a bankrupt party from the obligation to repay

debts that were or might have been proved in a bankruptcy proceeding.


Basis Point - one 100th of 1%.


Beneficiary - the person who receives or is to receive the benefits resulting from

certain acts.


Bilateral Contract - a contract under which each party promises performance.


Bill of Sale - a written instrument given to pass title of personal property.


Bird Dog - someone who identifies a potential good real estate investment opportunity

and passes that deal on to another investor for a fee.


Biweekly Mortgage - A mortgage that requires payments every two weeks and helps

repay the loan over a shorter term.
Blanket Mortgage - a single mortgage which attaches to more than one property.


Board Of Equalization - A state board charged with ensuring that local property taxes

are assessed in a uniform manner


Board of Realtors - a local group of real estate licensees who are members of the

state and national association of Realtors.


Bond - (1) a written agreement purchased from a bonding company that guarantees a

person will properly carry out a specific act, such as managing funds, showing up in

court, providing good title to a piece of real estate or completing a construction project.

If the person who purchased the bond fails at his or her task, the bonding company

will pay the aggrieved party an amount up to the value of the bond.


Breach of Contract - a violation of the terms of a legal agreement, default.


Bridge Loan - mortgage financing between the termination of one loan and the

beginning of another loan.


Broker - An individual who acts as an intermediary between two or more parties for

the purpose of negotiating a transaction agreeable to all of the parties. In lending, the

broker arranges and negotiates loan amounts, interest rates and loan terms between

borrowers and lenders. Depending on the type of loan, the state wherein the

transaction is occurring and contractual arrangements, the broker may represent the

borrower, the lender or not have a fiduciary responsibility to either. (See definition of
"fiduciary responsibility" below.).


Broker Price Opinion (BPO) - real estate broker provides an estimated value of a

property


Building Permit - permission granted by a local government or agency to build a

specific structure at a specific site.


Bundle of Rights - ownership in real property implies a group of rights, such as the

right of occupancy, use and enjoyment, the right to sell in whole or in part, the right to

control the use, the right to bequeath, the right to lease any or all of the rights, the right

to the benefits derived by occupancy and use of the property, etc.


Buy Down - A payment of discounts points in exchange for a lower rate of interest. It

has the effect of providing the lender with a greater yield today in exchange for a lower

yield in the future. (See definition of "discount points" below.).




                                              C

Call Option - A clause in a loan agreement that allows a lender to ask for the balance

at any time.


Cancellation Clause - a contract provision that gives the right to terminate the

obligations upon the occurrence of specified conditions or events.


Cap - a provision of an adjustable-rate mortgage (ARM) that limits how much the
interest rate or loan payments may increase or decrease. In upward rate markets, it

protects the borrower from large increases in the interest rate or monthly payment.

See lifetime payment cap, lifetime rate cap, periodic payment cap, and periodic rate

cap.


Capital - (1) money used to create income, either as an investment in a business or

an income property. (2) the money or property comprising the wealth owned or used

by a person or business enterprise. (3) the accumulated wealth of a person or

business. (4) the net worth of a business represented by the amount by which its

assets exceed liabilities.


Capital Expenditure - the cost of an improvement made to extend the useful life of a

property or to add to its value, such as adding a room. The cost of repairing a property

is not a capital expenditure. Capital expenditures are appreciated over their useful life;

repairs are subtracted from income for the current year.


Capital Improvement - any structure or component erected as a permanent

improvement to real property that adds to its value and useful life. (See Capital

Expenditure).


Capitalization (Cap) Rate - rate of return used to derive the capital value of an

income stream, divide annual income by net operating income.


Carrying Charges - expenses necessary for holding property, such as taxes and

interest on idle property or property under construction.
Cash Flow - The net operating income minus the total of all debt service payments.

(See definition of "net operating income" below.)


Cash Flow Basis - this calculation shows when your monthly payment savings

exceed your estimated closing costs and discount points. It does not consider the tax

impact or differences in principal balance reduction between your current loan and the

refinance suggestions. You can use the Amortization Schedule Calculator to compare

principal reduction.


Cash Out - Cash given to the borrower from the proceeds of a loan. While relatively

common as part of a refinance, it is uncommon, but not impossible, as a benefit of a

small percentage of non-conforming loans used for a purchase.


Cash-Out Refinance - a refinance transaction in which the new loan amount exceeds

the total of the principal balance of the existing first mortgage and any secondary

mortgages or liens, together with closing costs and points for the new loan. This

excess is usually given to the borrower in cash and can often be used for debt

consolidation, home improvement, or any other purpose. The borrower effectively

borrows against the home equity.


Caveat Emptor - let the buyer beware.


Certificate of Eligibility - issues by the Veterans Administration to those who qualify

for a VA loan.


Certificate of Insurance - a document issued by an insurance company to verify the
coverage.


Certificate of Occupancy (C.O.) - a document issued by a local government or

agency permitting the structure to be occupied by members of the public.


Certified Commercial Investment Member (CCIM) - a designation awarded by the

Realtors National Marketing Institute, which is affiliated with the National Association

of Realtors.


Certified Residential Broker (CRB) - a designation awarded by the Realtors National

Marketing Institute, which is affiliated with the National Association of Realtors.


Certified Residential Specialist (CRS) - a designation awarded by the Realtors

National Marketing Institute, which is affiliated with the National Association of

Realtors.


Chain of Title - a history of conveyances and encumbrances affecting a title from the

time that the original patent was granted or as far back as records are available.


Clear Title - a marketable title, one free of clouds and disputed interests.


Closing - The formal meeting where loan documents are signed and funds disbursed.

Note, however, that Federal law requires that funds not be disbursed for three

business days on certain loans where personal residences serve as the security. (See

definition of "recission" below.)


Closing Costs - The expenses which borrowers incur to complete the loan
transaction. These costs may include title searches, title insurance, closing fees,

recording fees, processing fees and other charges.


Closing Date - the date on which the seller delivers the deed and the buyer pays for

the property.


Closing Statement - an accounting of funds from a real estate transaction, also

known as a HUD-1.


Cloud on Title - an outstanding claim or encumbrance that, if valid, would affect or

impair the owner's title.


Coinsurance Clause - a provision in a hazard insurance policy stating the minimum

amount of coverage that must be maintained - as a percentage of the total value of the

property - in order for the insured to collect the full amount of a loss.


Collateral - property pledged as security for a debt.


Collectors Deed - If the Property has not been redeemed during the one-year

redemption period, the holder of the Certificate of Purchase may apply for and receive

a Collectors Deed to the property


Combined Loan-to-Value (CLTV) - The total of all loans relative to the value of the

property. If a property has a value of $100,000 and three loans totaling $125,000, the

CLTV is 125% ($125,000 / $100,000).


Commitment - The notification that a lender has approved a loan. Virtually all
commitments are issued conditionally; that is, subject to some list of conditions that

must be satisfied prior to funding actually taking place. Typical conditions include

appraisals of a certain value, clean title, verification of representations by the

borrower, etc.


Comparable Sales - As part of the appraisal process, those relatively recently sold

properties which will be compared to the subject property (the property being

appraised) for the purpose of forming an opinion of value for the subject property. The

facts and details of the comparable properties will be compared to those of the

subject. In an urban setting, to be of credible assistance in this process, comparable

sales must have the same use as the subject, have many similarities to the subject in

terms of size of house, size of lot, construction, bedroom count, room count, floor plan,

amenities, street traffic and be in the same neighborhood and have been sold in the

recent past (preferably no more than six months) by way of an "arms length"

transaction (i.e., not sold to a relative or friend and not sold due to a forced sale or

distress sale) and be within one mile of the subject property. More liberal standards

will apply for rural property and some suburban properties but the basic premise

holds, the more similar the comparable sales are to the subject property, the more

accurate the value assigned to the subject property will be. Lenders will often

compensate for the less precise nature of rural appraised values by allowing only

lower loan-to-value ratios than those in urban settings, usually 10% lower. (See

definition of "loan-to-value" below.)


Conditions, Covenants, and Restrictions (CCR's) - promises written into deeds and
other instruments agreeing to performance or nonperformance of certain acts, or

requiring or prohibiting certain uses of the property.


Conforming Loan - A loan which has underwriting criteria consistent with (i.e.,

conforming to) those strict guidelines of Fannie Mae, Freddie Mac, FHA or VA. These

are typically the lowest interest rate loans with very good terms. (See definitions of

"Fannie Mae", "Freddie Mac", "FHA", "VA" and "underwriting" below.).


Consideration - anything of value given to induce entering into a contract.


Contiguous - actually touching, having a common boundary.


Contingency - A condition that must be met before a contract is legally binding. For

example, home purchasers often include a contingency that specifies that the contract

is not binding until the purchaser obtains a satisfactory home inspection report from a

qualified home inspector.


Contract - an agreement between competent parties to do or not do certain things for

consideration.


Contract For Deed - a real estate installment selling arrangement whereby the buyer

may use, occupy, and enjoy land, but no deed is given by the seller until all or a

specified part of the sale price has been paid, same as land contract.


Contractor - one who contracts to provide specific goods or services.


Conventional Loan - A conforming loan with no government guarantee; that is, a
Fannie Mae or Freddie Mac loan. (See definition of "conforming loan" above.).


Conversion - changing property to a different use or form of ownership.


Convey - to deed or transfer title to another.


Cooperative (co-op) - a type of multiple ownership in which the residents of a multi-

unit housing complex own shares in the cooperative corporation that owns the

property, giving each resident the right to occupy a specific apartment or unit.


Counteroffer - rejection of an offer with a simultaneous substitute offer.


Creative Financing - any financing arrangement other than a traditional mortgage

from a third party lending institution.


Credit Line - A loan that allows revolving use of the credit; that is, after funds have

been borrowed and repaid they may be borrowed again without applying for a new

loan. Typically, a credit limit is established and some or all of the available funds can

be optionally disbursed at closing. Undisbursed funds are available for the borrowers

use at any time. Payments are required only on the outstanding balance. They are

similar in use to a credit card except that they typically use checks to access the

funds. They are inexpensive, effective tools for investors.




                                            D

Dealer - one who holds real property primarily for sale to customers, merchandise is
inventory and gain on sale is treated as ordinary income.


Debt Coverage Ratio (DCR) - A ratio used in underwriting loans for income producing

property which is created by dividing net operating income by total debt service.

Ratios of at least 1.10 are generally required with ratios of 1.20 and higher considered

the norm. (See definition of "underwriting" below.).


Debt Ratio (DR, D:I) - Also known as debt to income. The ratio of the total of

minimum monthly debt payments to gross monthly income. If minimum monthly

payments on a credit card, auto lease, and mortgage (PITI) were $30, $220 and $750

respectively and the gross monthly income was $3000, the debt ratio would be

33.33% ($1000 / $3000). Only debt obligations that will be in place after the loan has

funded are considered. Payments for food, utilities, entertainment, medical bills, etc.

are not included in the calculation. Contractual obligations for rent (e.g., a lease)

would be included in the calculation. The housing ratio in this example would be

25.0% ($750 / $3000). The preferred candidate for conventional loans typically would

have debt ratios of 28% for housing and 36% for the total with the maximum ratios

allowed (on a case by case basis with compensating factors; i.e., some other strong

positive to offset the negative of the higher debt ratio) being around 30% / 40%

(housing / total). FHA and VA loans allow a total of approximately 41.0%. Non-

conforming loans may allow total debt ratios as high as 55% or so. True "hard money"

loans seldom consider debt ratios. (see definitions of "PITI", "Housing Ratio", "Non-

conforming Loan" below).
Decree - an order issued by one in authority, a court order or decision.


Deed - written document, properly signed and delivered, that conveys title to real

property.


Deed in Lieu of Foreclosure - the act of giving property back to the lender without

foreclosure.


Deed of Trust (DOT) - DOT's are similar to mortgages in that they serve as security

for a loan by encumbering real estate. However, a mortgage is between two parties

(borrower and lender) and a deed of trust involves three parties (borrower, lender and

trustee). The trustee holds the property in trust as security for the payment of the debt

and can sell the property if the borrower defaults.


Deed Restriction - see Conditions, Covenants, and Restrictions.


Default - Failure to meet all of the commitments and obligations specified in the

mortgage or deed of trust. Defaults usually give the lender the right to accelerate

payments and start foreclosure.


Defeasance - clause in mortgage that gives the borrower the right to redeem the

property after default by paying the full indebtedness and fees incurred.


Deferred Maintenance - a type of physical depreciation due to lack of normal upkeep.


Deferred Payments - payments to be made at some future date.
Deficiency Judgment - a court order stating that the borrower still owes money when

the security for a loan does not entirely satisfy a defaulted debt.


Density - the intensity of land use.


Density Test - An analysis of soil to determine if the surface can support the

foundation of a house.


Depreciation Recapture - when real property is sold at a gain and accelerated

depreciation has been claimed, the owner may be required to pay tax at ordinary

income rates to the extent of the excess accelerated depreciation.


Discount Points - One point equals one percent of the loan amount. Paying points

has the effect of giving the lender a higher yield. Two points on a $100,000 mortgage

would cost $2,000 ($100,000 x 0.02).


Document Preparation - this fee covers the expenses associated with this process of

preparing some of the legal documents that you will be signing at the time of closing,

such as the mortgage, note, and truth-in-lending statement


Down Payment - The portion of the purchase price paid by a buyer to a seller from

sources of funds outside of those provided by a lender.


Draw - a periodic advance of funds from a lender.


Due Diligence - The act of carefully reviewing, checking and verifying all of the facts

and issues before proceeding. In lending it is, among other things, verification of
employment, income and savings; review of the appraisal; credit report; and status of

the title.


Due-on-Sale - see Acceleration Clause - reservation of lender's right to call the loan

due and payable upon sale of the property.




                                            E

Earnest Money - a deposit made by a purchaser of real estate to show good faith.


Easement - the right, privilege, or interest that one party has in the land of another.


Easement by Necessity - the right of an owner to cross over another's property for a

special necessary purpose.


Easement by Prescription - continued use of another's property for a special

purpose can convert to permanent use if certain conditions are met.


Egress - a means of access or exit.


Eminent Domain - the right of the government or a public utility to acquire property for

necessary public use by condemnation, but the owner must be fairly compensated.


Employer-Assisted Housing - a special Fannie Mae housing initiative that offers

several different ways for employers to work with local lenders to develop plans to

assist their employees in purchasing homes.
Encroachment - a building, part of a building, or obstruction that physically intrudes

upon, overlaps, or trespasses upon the property of another.


Encumbrance - any right to or interest in land that affects its value, including

mortgage loans, unpaid taxes, easements, junior liens, or deed restrictions.


Equal Credit Opportunity Act (ECOA) - a federal law that requires lenders and other

creditors to make credit equally available without discrimination based on race, color,

religion, national origin, age, sex, marital status, or receipt of income from public

assistance programs.


Equitable Conversion - a legal doctrine in some states in which, under a contract of

sale, buyers and sellers are treated as though the closing has taken place in that the

seller in possession has an obligation to take care of the property.


Equitable Title - the interest held by one who has agreed to purchase, but has not yet

closed the transaction.


Equity - The value of the unencumbered interest in real estate as determined by

subtracting the total of the unpaid mortgage balances plus the sum of any current liens

against the property from the property's fair market value.


Escheat - the reversion of property to the state in the event that the owner dies

without leaving a will and has no legal heirs.


Escrow - an agreement between two or more parties providing that certain
instruments or property be placed with a third party for safekeeping, pending the

fulfillment or performance of a specified act or condition.


Escrow Account - An account from which funds can be disbursed only for specified

reasons; i.e. the money is held in trust for a specific use. In lending, these accounts

are most often used to hold and disburse real estate taxes and hazard insurance

premiums which have been paid in advance (usually on a monthly basis) by the

borrower.


Escrow Analysis - the periodic examination of escrow accounts to determine if

current monthly deposits will provide sufficient funds to pay taxes, insurance, and

other bills when due.


Escrow Collections - funds collected by the loan servicer and set aside in an escrow

account to pay borrower expenses such as property taxes, mortgage insurance, and

hazard homeowners insurance.


Escrow Disbursements - the use of escrow funds to pay real estate taxes,

homeowners insurance, mortgage insurance, and other property expenses as they

become due.


Escrow Payment - the portion of a borrower's monthly payment that is held by the

loan servicer to pay for taxes, hazard homeowners insurance, mortgage insurance,

lease payments, and other items as they become due. Known as "impounds" or

"reserves" in some states.
Estate - the degree, nature, and extent of interest that a person has in real property.


Estate at Sufferance - the wrongful occupancy of property by a tenant after the lease

has expired.


Estate for Life - see Life Estate.


Estate Tax - a tax on the value of property left by the deceased, subject to certain tax

rules.


Estoppel - a doctrine of law that stops one from later denying facts which that person

once acknowledged were true and others accepted on good faith.


Eviction - legal proceeding by a lessor (landlord) to recover possession of property.


Exchange - under Section 1031 of the IRS Tax Code, like-kind property used in a

trade or business or held as an investment can be exchanged tax-free, subject to

certain conditions.


Exclusive Listing - a written contract that gives a licensed real estate agent the

exclusive right to sell a property for a specified time, but reserving the owner's right to

sell the property alone without the payment of a commission.


Exculpatory Clause - provision in a mortgage allowing the borrower to surrender the

property to the lender without personal liability.
                                              F

Facade - the outside front wall of a building.


Face Value - the dollar amount, shown by words and/or numbers on a document.


Fair Credit Reporting Act - a federal law that allows individuals to examine and

correct information used by credit reporting services.


Fannie Mae (FNMA) - Federal National Mortgage Association, a federally chartered

corporation that purchases mortgages and packages them to sell as securities.


Federal Fair Housing Law - a federal law that forbids discrimination on the bais of

race, color, sex, religion, or national origin in the selling or renting of property.


Federal Housing Administration (FHA) - an agency within HUD that administers

many loan programs designed to make housing more available.


Fee Agreement - An agreement between a borrower and a broker which normally

specifies the relationship between them and the amount of compensation to the

broker.


Fee Simple - absolute ownership of real property.


Fiduciary Responsibility - An obligation to act in the best interest of another party.

This type of obligation typically exists when one person places special trust and

confidence in another person and that responsibility is accepted.
First Mortgage - That mortgage which is recorded at the earliest time. The time of

recording is the sole criteria. Size of loan and type of mortgage are immaterial. When

the first mortgage is paid off and released, the second mortgage (if any existed)

becomes the first mortgage.


Fixed Payment Mortage - a loan secured by real property which features a periodic

payment of interest and principal which is constant over the term of the loan.


Fixed Rate Mortgage - A mortgage with an interest rate that remains the same

through the life of the loan.


Floodplain - A level land area subject to periodic flooding from a contiguous body of

water.


Forbearance - a course of action a lender may pursue to delay foreclosure or legal

action against a delinquent borrower


Foreclosure - The process by which the mortgagor's (borrower's) rights to a property

are terminated. While the general process is similar from state to state, the actual

procedures tend to vary greatly.


Fractional Ownership - Is a percentage share of an expensive asset or property

acquired jointly by a group of persons or businesses. Shares are sold/titled to

individual owners. A fractional owner enjoys use or income of such property on an

agreed basis. Such as reduced rates, priority access on holidays and income sharing.

Conceptually, Fractional Ownership is not the same as a Timeshare. Fractional
Ownership affords much of the freedom and usage benefits offered in timeshare,

however, the fundamental difference with fractional ownership is that the purchaser

owns part of the title (as opposed to units of "time")


FRBO - for rent by owner.


Freddie Mac (FHMLC) - Federal Home Loan Mortgage Corporation, a federally

chartered corporation that purchases mortgages and packages them to sell as

securities.


FSBO - for sale by owner.


Fully Amortized Adjustable-Rate Mortgage - A mortgage that amortizes, or pays

down, the balance of a loan.




                                            G

Gable Roof - one with a triangle, with the ridge forming an angle at the top and each

eave forming an angle at the bottom.


Gain - an increase in money or property value.


Garden Apartments - a housing complex whereby some or all tenants have access

to a lawn area.


General Contractor - one who constructs a building or other improvement for the
owner or developer.


General Lien - a lien that includes all of the property owned by the debtor, rather than

a specific property.


General Warranty Deed - a deed in which the grantor agrees to protect the grantee

against any other claim to title of the property.


Gentrification - the displacement of lower income residents by higher income

residents in a neighborhood.


Graduated-Payment Mortgage(GPM) - A mortgage that requires a borrower to make

larger monthly payments over the term of the loan. The payment is unusually low for

the first few years but gradually rises until year three or five, then remains fixed.


Grantee - the party to whom title to real property is conveyed.


Grantor - the party who gives the deed.


Gross Debt Service - the amount of money needed to pay principal, interest and

taxes, and sometimes energy costs. If the dwelling unit is a condominium, all or a

portion of common fees are excluded, depending on what expenses are covered.


Gross Monthly Income - Income before deductions for taxes, social security, saving

plans, court ordered child support, etc.


Gross Rent Multiplier - the sales price divided by the gross annual rental rate.
Ground Lease - one that rents the land only.




                                             H

Habendum Clause - The "to have and to hold" clause that defines the quantity of the

estate granted in the deed.


Hard Money Loan - A loan that is underwritten with the condition and value of the

property as the primary criteria for approval. Secondary issues may include the credit

of the borrower, the ability of the borrower to repay the loan and/or the ability of the

borrower to manage the property or successfully complete a rehab and sell the

property. Owner occupancy, debt ratios and other issues are seldom a factor.

Appraisals rather than purchase prices are used to determine value. Cash out

purchases are often allowed and are another key benefit. These loans are usually

approved within days and are often funded in two weeks or under with times as short

as two or three days not uncommon. The cost for the benefits of speed of funding, lax

underwriting and other advantages is typically a moderately high interest rate (usually

low to mid teens) and high points (usually 5 to 10). (See definition of "underwriting"

below.)


Hazard Insurance - Insurance to provide compensation if the improvements are

damaged or destroyed. It is almost always a requirement of loans.


Hereditaments - property, personal and real, capable of being inherited
Hiatus - A gap between two parcels of land that is not included in the legal description

of either property.


Highest and Best Use - the use that is most likely to produce the greatest net return

to the land and/or building over a given period.


Holdover Tenant - a tenant who remains in possession of leased property after the

expiration of the lease term.


Home Equity Loan - In the most literal sense, this expression applies to virtually all

loans (first mortgages and second mortgages, fixed and adjustable interest rates,

credit lines and fully amortizing loans, etc.) placed on an owner occupied property

when the loan-to-value after the Home Equity Loan closes is no higher than 100%.

That is, it is a loan secured by the available equity of an owner occupied residential

property.


Homeowner Association (HOA) - an organization of the homeowners in a particular

subdivision, planned unit development, or condominium created to enforce deed

restrictions and manage common elements of the development.


Homeowners' Warranty - A special insurance policy that covers certain home repairs

for a specified amount of time.


Homeowner's Insurance (Hazard Insurance) - insurance coverage that

compensates for physical damage to a property from fire, wind, vandalism, or other

hazards. The policy typically combines personal liability insurance and property
hazard insurance coverage for a dwelling and its contents. See also homeowner's

insurance.


Homestead - status provided to a homeowner's principal residence by some state

statutes to protect the home against judgments up to specified amounts.


Homestead Exemption - in some jurisdictions a reduction in the assessed value

allowed for one's personal residence.


Housing and Urban Development (HUD) - a federal government agency established

to implement certain federal housing and community development programs.


Housing Code - local government ordinance that sets minimum standards of safety

and sanitation for existing residential buildings.


Hypothecate - to pledge somehing as security without having to give up possession

of it.




                                             I

Implied Warranty of Habitability - a legal doctrine that requires landlords to offer and

maintain livable premises for their tenants. If a landlord fails to provide habitable

housing, tenants in most states may legally withhold rent or take other measures,

including hiring someone to fix the problem or moving out.
Impound Account - see Escrow Account.


Improvements - additions to raw land such as buildings, streets, sewers, etc. that

increase the value of the property.


Incidents of Ownership - any control over property. If you give away property but

keep an incident of ownership--for example, you give away an apartment building but

retain the right to receive rent--then legally, no gift has been made. This distinction can

be important if you're making large gifts to reduce your eventual estate tax.


Indemnify - to protect another person against loss or damage.


Index - The published cost of money that serves as the minimum basis for

determining the interest rate for an adjustable rate mortgage. Among the commonly

used indices are the Prime Rate (Prime), the London Interbank Offering Rate (LIBOR),

the Cost of Funds (COF) and the 1 year Treasury Bill (1 year T). The particular index

is generally, though not always, selected based on how often an interest rate is

supposed to adjust. Loans which allow monthly interest rate adjustments commonly

use the Prime Rate. Loans that adjust semi-annually may use LIBOR. The 1 year

Treasury and the Cost of Funds are often used for loans which adjust on an annual

basis. There are other Treasury instruments which are used for 3 and 5 year

adjustment periods. The interest rate of the loan is determined by adding a margin to

the index. The size of the margin is typically a function of the index used and the credit

worthiness of the borrower. Typical margins on a Prime Rate based loan would be 0.0

to 5.0 so that if the Prime Rate were 8.25% and the margin were 2.0 (typical for an
"average" borrower), the interest rate would be 10.25% (8.25 + 2.0).


Initial Note Rate - With regard to an adjustable rate mortgage, the note rate upon

origination. This rate may differ from the fully indexed note rate.


Installment Contract - see Contract for Deed


Installment Sale - when a seller accepts a mortgage for all or part of the sale, tax on

the gain is paid as the mortgage principal is collected.


Insurance Binder - a document that states that insurance is temporarily in effect.

Because the coverage will expire by a specified date, a permanent policy must be

obtained before the expiration date.


Insured Mortgage - a mortgage that is protected by the Federal Housing

Administration (FHA) or by private mortgage insurance (PMI). If the borrower defaults

on the loan, the insurer must pay the lender the lesser of the loss incurred or the

insured amount.


Inter Vivos - during one's life.


Interest Accrual Rate - the percentage rate at which interest accrues on the

mortgage. In most cases, it is also the rate used to calculate the monthly payments.


Interest Rate - The percentage of the loan amount charged for borrowing money; i.e.,

the cost of the money expressed as a percentage.
Interest Rate Buydown Plan - a temporary buydown gives a borrower a reduced

monthly payment during the first few years of a home loan and is typically paid for in

an initial lump sum made by the seller, lender, or borrower. A permanent buydown is

paid the same way but reduces the interest rate over the entire life of a home loan.


Interim Financing - a loan, including a construction loan, used when the property

owner is unable or unwilliing to arrange permanent financing.


Intestate - having made no valid will.




                                           J

Joint and Several Liability - a creditor can demand full repayment from any and all of

those who have borrowed, each borrower is liable for the full debt, not just the

prorated share.


Joint Tenancy - ownership of realty by two or more persons, each of whom has an

undivided interest.


Joint Venture - an agreement between two or more persons who invest in a single

business or property.


Judgment - a decree of a court stating that one individual is indebted to another and

fixing the amount of the indebtedness.


Judgment Creditor - one who has received a court decree or judgment for money
due from a debtor.


Judgment Lien - the claim upon the property of a debtor resulting from recording a

judgment.


Judicial Foreclosure - having a defaulted debtor's property sold where the court

ratifies the price paid.


Jumbo Loan - A loan larger than the maximum allowed by conforming loans. The

threshold amount has traditionally been adjusted more or less on an annual basis and

has been in the low $200,000's. Banks and mortgage brokers can quote the current

threshold. They are typically available at interest rates slightly higher than those of

conforming loans and typically require the same underwriting standards as conforming

loans. (see definition of "conforming loan" above).


Junior Mortgage - a mortgage whose claim against the property will be satisfied only

after prior mortgages have been repaid.




                                             K

Kicker - A payment required by a mortgage in addition to normal principal and

interest.




                                             L
Lien - A claim on a property of another as security for money owed. Examples of

types of liens would include judgments, mechanic's liens, mortgages and unpaid

taxes.


Land Contract - see Contract for Deed.


Land Lease - see Ground Lease.


Land Trust - A revocable, living trust primarily used to hold title to real estate for

privacy and anonymity. Also known as an Illinois Land Trust or Nominee Trust. The

land trustee is a nominal title holder, with the beneficiaries having the exclusive right to

direct and control the actions of the trustee.


Landlocked - condition of a lot that has no access to public thoroughfare except

through an adjacent lot.


Lease - a contract in which, for a rent payment, the one entitled to the possession of

the real property (lessor) transfers those rights to another (lessee) for a specified

period of time.


Lease Option - a lease combined with an option agreement that gives the lessee

(tenant) the right to purchase the property under specified conditions.


Lease Purchase - a lease combined with a purchase agreement that obligates the

lessee (tenant) to purchase the property under specified conditions.


Leasehold - the interest or estate on which a lessee (tenant) of real estate has a
lease.


Leasehold Estate - A way of holding title to a property wherein the mortgagor does

not actually own the property but rather has a recorded long-term lease on it.


Legal Blemish - Blemishes on a piece of property, such as a zoning violation or

fraudulent title claim.


Legal Description - legally acceptable identification of real estate by government

survey, metes and bounds, or recorded plat.


Lessee - a person to whom property is rented under a lease.


Lessor - one who rents property to another under a lease.


Let - to rent a property to a tenant.


Letter of Intent - written expression of desire to enter into a contract without actually

doing so.


Liabilities - a person's debts or financial obligations. Liabilities include long-term and

short-term debt, as well as potential losses from legal claims.


Liability Insurance - insurance coverage that offers protection against claims alleging

that a property owner's negligence or inappropriate action resulted in bodily injury or

property damage to another party. See also homeowners insurance.


Lien Theory State - Texas is a Lien Theory State, where legal title of mortgaged
property resides with the mortgagor (borrower), with the mortgage as a lien against

the property. Contrast with title theory state.


Life Estate - an interest in property that terminates upon the death of a specified

person.


Life Tenant - one who is allowed to use property for life or the lifetime of another

designated person.


Lifetime Cap - The highest amount over the initial interest rate that an adjustable

mortgage can be raised. Lifetime caps are typically in the range of 5.0% - 7.0%. If the

initial interest rate is 5.25% and the lifetime cap is 6.0%, the highest interest rate a

borrower could pay during the course of the loan would be 11.25% (5.25% + 6.0%).


Like-Kind Property - property having the same nature.


Limited Partnership - one in which there is at least one partner who is passive and

limits liability to the amount invested and at least one partner whose liability extends

beyond monetary investment.


Line Of Credit - an agreement by a lender to extend credit up to a certain amount for

a certain time without the need for the borrower to file another application.


Liquidated Damages - an amount agreed upon in a contract that one party will pay

the other in the event of a breach of contract.
Liquidity - ease of converting assets to cash.


Lis Pendens - Latin for "suit pending", recorded notice of the filing of a lawsuit, the

outcome of which may affect title to real property.


Listing - written agreement between a principal and an agent authorizing the agent to

perform services for the principal involving the principal's property.


Loan Application (1003) - A loan application that is required for conforming loans. It

has become the standard application for most residential loans, even non-conforming

loans.


Loan Origination Fee - Most lenders charge borrowers an origination fee--or points--

for processing a loan. A point is 1 percent of the total loan amount.


Loan Package - The organized group of documents that contains all of the

information required to obtain an underwriting decision of loan approval or loan denial.

Depending on the type of loan and the particular lender, a package may contain some

or all of the following as well as other documents: loan application, statement of use of

funds, statement of net worth, P & L statements, tax returns, pay stubs, statements

from various types of banking and investment accounts, property appraisal, letters of

explanation, credit report, verification of employment, verification of housing

payments, purchase agreement, etc. (See definition of "underwriting" below.)


Loan-to-Value (LTV) - The ratio of the size of the loan to the value of the property. If

the loan is $80,000 and the value of the property is $100,000 the LTV is 80% ($80,000
/ $100,000).


Lot and Block - method of identifying legal description of property, see Legal

Description.


Lot Line - a line bounding a lot as described in a property survey.


Low-Documentation Loan - A mortgage that requires only minimal verification of

income and assets


Low-Down-Payment loan - A home loan that requires the borrower to make only a

small down payment before obtaining the financing needed to purchase a house.




                                            M

Management Agreement - a contract between the owner of property and someone

who agrees to manage it.


Margin - A constant (fixed) amount over an index that determines a lender's yield on

an adjustable rate loan. The interest rate of an adjustable rate loan is determined by

adding a margin to an index. The size of the margin is typically a function of the index

used and the credit worthiness of the borrower. Typical margins on a Prime Rate

based loan would be 0.0 to 5.0 so that if the Prime Rate were 8.25% and the margin

were 2.0 (typical for an "average" borrower), the interest rate would be 10.25% (8.25 +

2.0). (See definition of "index" above.).
Marketable Title - a title free from defect.


Master Lease - a controlling lease.


Maturity - The date on which the principal balance of a loan, bond, or other financial

instrument becomes due and payable


Maximum Financing - A loan amount within 5 percent of the highest loan-to-value

ratio allowed for a property.


Mechanic's Lien - a lien given by law upon a building or other improvement upon

land as security for the payment of labor and materials furnished for improvement.


Merged Credit Report - A report that draws information from the Big Three credit-

reporting companies: Equifax, Experian, and Trans Union Corp.


Minimum Payment - the minimum amount that must be paid monthly on an account.

On the HELOC product, the minimum payment is interest only during the draw period.

On the Fixed Rate Second products, the minimum payment is principal and interest.


Monthly Mortgage Insurance (MI) Payment - portion of monthly payment that covers

the cost of Private Mortgage Insurance.


Monthly Payment (P&I) - this is the monthly mortgage payment on a home loan, this

includes principal and interest, but excludes any amounts that are applied to taxes and

insurance.
Monthly Principal & Interest (P&I) Payment - portion of monthly payment that

covers the principal and interest due on the loan.


Monthly Taxes & Insurance (T&I) Payment - portion of monthly payment that funds

the escrow or impound account for taxes and insurance.


Mortgage - A lien against real property given by a borrower to a lender as security for

money borrowed.


Mortgage (Open-End) - A mortgage that allows additional money to be borrowed (up

to the original loan amount) without refinancing the loan or paying additional financing

charges .


Mortgage Balance - see Principal Balance.


Mortgage Insurance Premium (MIP) - The payment made by a borrower of FHA

insured mortgages to provide a reserve that protects lenders against losses from very

high loan-to-value loans.


Mortgage Loan - A loan which is secured by a mortgage lien filed against real

property.


Mortgage-Interest Deduction - The tax write-off that the Internal Revenue Service

allows most owners to claim for annual interest payments made on real estate loans.

mortgagee
Mortgagee - The entity to whom the mortgage is given; i.e., the lender.


Mortgagor - The entity who gives the mortgage; i.e., the borrower.


Multi-Dwelling Property - A property that contains individual units for several

households but carries only one mortgage.




                                            N

Needs-Based Pricing - A seller's asking price that is based on factors such as the

required funds to pay off the mortgage, the cost of remodeling or the purchase of

another house.


Negative Amortization - Some adjustable rate mortgages allow the interest rate to

fluctuate independently of a required minimum payment. If a borrower makes the

minimum payment it may not cover all of the interest that would normally be due at the

current interest rate. In essence, the borrower is deferring the interest payment, which

is why this is called "deferred interest." The deferred interest is added to the balance

of the loan and the loan balance grows larger instead of smaller, which is called

negative amortization.


Negotiation - The process of bargaining that precedes an agreement.


Net Cash Flow - Investment property that generates income after expenses such as

principal, interest, taxes and insurance are subtracted
Net Operating Income (NOI) - From income producing property, the gross income

minus the total of all expenses except for debt service. Cash flow is defined as NOI

minus the total of all debt service payments.


No Cash-Out Refinance - The amount of the new mortgage covers the remaining

balance of the first loan, closing costs, any liens and cash no more than 1 percent of

the principal on the new loan.


No Income Verification Loan (NIV) - A type of loan generally limited to the self-

employed that is underwritten based on the borrower's written representation of their

annual income as stated on the loan application. No tax returns, operating statements

or other verification of the income is required. Debt ratios are computed based on the

stated income. The primary intent of these programs is to allow owners of small

businesses to use their actual cash flows rather than the net incomes normally

reported in tax filings. Higher interest rates on these products compensate lenders for

their higher risks. (See definition of "debt ratio" above.)


Non-Assumption Clause - A loan provision that prohibits the transfer of a mortgage

to another borrower without lender approval.


Non-conforming Loan - A loan not meeting the underwriting requirements of Fannie

Mae and Freddie Mac. I.e., the vast majority of loans.


Non-Qualifying - buyer is not required to qualify through traditional bank financing

requirements
Non-Recurring Closing Costs - Costs that are one-time only fees for such items as

an appraisal, loan points, credit report, title insurance and a home inspection


Note - A written promise to repay a certain sum of money on specified terms.


Note Broker - An individual who acts as an intermediary between a holder of an

existing note and a prospective purchaser of the note.


Notice of Default - A lender's initial action when a mortgage payment is late and

attempts to reconcile the issue out of court have failed.




                                            O

Obligee - The person in whose favor an obligation is entered into.


Obligor - The person who binds himself or herself to another.


Option - the right to purchase or lease a property upon specified terms within a

specified period of time


Ordinances - municipal rules governing the use of land


Origination Fee - A fee paid to either a broker or a lender for originating a loan. It may

be the only compensation for their work in arranging and/or processing the loan or it

may be only a portion of the compensation. Not every loan has an origination fee.


Originator - An individual who works with a borrower to start a loan. Usually an
employee of a financial institution, an employee of a broker or an independent

contractor affiliated with several brokers, the originator determines the type of loan a

borrower probably qualifies for, helps complete an accurate application, gathers

documents necessary to get an approval and acts as an intermediary between the

borrower and the underwriter.


Owner Financing (Seller Financing) - A method in which a buyer borrows from and

makes payments to the seller instead of a bank. Sometimes you take over the seller's

payments. Can be done when a buyer cannot qualify for a bank loan for the full

amount. Also referred to as Seller's Financing.




                                            P

Penalty - Money one will pay for breaking a law or violating part or all of the terms of a

contract.


PITI - The shorthand way of stating the most usual elements of a residential mortgage

payment which may consist not only of the Principal and Interest (PI) but the property

taxes (T) and hazard insurance (I) as well. In the case where all four elements are part

of the payment, the lender escrows the T and I and pays them on behalf of the

borrower when they come due. Some loans are written such that the payment to the

lender consists only of the P and I in which case the borrower pays the taxes and

insurance directly.
Planned Unit Development (PUD) - A highly designed residential project that

features relatively dense clusters of houses, which are usually surrounded by areas of

commonly owned open space maintained by a nonprofit community association.


Points - Loan fees paid by the borrower. One point equals one percent of the loan

amount.


Portfolio Loan - A non-conforming loan that is held by the original lender rather than

being sold on the secondary market.


Prepayment Penalty - fee charged for paying off a loan within a relatively short period

of time after the loan has closed, provision is currently found only in non-conforming

products, time period during which it applies is usually one to three years


Principal Balance - outstanding dollar amount owed on a loan exclusive of accrued

interest


Principal, Interest, Taxes, Insurance (PITI) - monthly payments required by an

amortizing loan that includes escrow deposits for taxes and insurance in addition to

the principal and interest


Private Mortgage Insurance (PMI) - insurance premium paid by a borrower to protect

lenders against losses from loans with loan-to-value ratios higher than 80%, default

insurance for lenders


Pro Forma - refers to the presentation of data, such as a balance of income
statement, where certain amounts are hypothetical. For example, a pro forma balance

sheet might show a debt issue that has been proposed but has not been

consummated.


Probate - The process of establishing the validity of a will before a duly authorized

court or person. Once validity is confirmed, the probate court then administers the sale

of property as directed by the will or as authorized by the court to settle any financial

obligations


Promissory Note - promise to pay a specified sum to a specified person under

specified terms


Purchase Money Mortgage - a mortgage which secures a note written on a loan

used in the purchase of real estate


Purchase Subject to Mortgage - a purchase in which a buyer agrees to make the

monthly mortgage payments on an existing mortgage and the original borrower

remains liable if the purchaser fails to make the payments as agreed.


Purchase-Money Mortgage (PMM) - A mortgage obtained by a borrower as partial

payment for a property.




                                            Q

Qualifying Ratio - A ratio calculated by a lender to determine how much a potential
buyer can borrow.


Quiet Enjoyment - right of an owner or any other person legally entitled to possession

to the use of the property without interference.


Quiet Title Action - a suit in court to remove a defect or cloud on the title, establishes

legal ownership.


Quitclaim Deed - a deed that conveys only the grantor's rights or interest in a

property, without stating the nature of the rights or interest and with no warranties of

ownership.


Quitclaim Deed - A deed that transfers without warranty whatever interest or title a

grantor may have at the time the conveyance is made.




                                            R

Rate Cap - The maximum interest rate charge allowed on the monthly payment of an

adjustable rate mortgage during an adjustment period.


Rate-Improvement Mortgage - A loan with a clause that entitles a borrower to a one-

time interest rate cut without going through refinancing.


Real Estate Owned (REO) - property acquired through a lender through foreclosure

and held in inventory.
Real Property - the rights to use real estate.


Realtor - designation given to licensed real estate agents who are members of the

National Association of Realtors.


Recission Period - a federally mandated period of three business days (beginning on

the day after a loan closes) during which the borrower may cancel the new loan,

waiting period only applies to loans which are to be secured by a mortgage on a

personal residence for which the borrower is in title at the time of loan origination, right

to cancel does not apply to loans used for the purchase of property.


Recourse - ability of lender to make claims against borrower personally in addition to

the collateral.


Redemption Period - period during which a former owner can reclaim foreclosed

property.


Refinance - process of a borrower paying off one loan with the proceeds from

another.


Regression - The principle that the value of a better-quality property is adversely

affected by the proximity of a lesser-quality property.


Regulation Z - federal regulation requiring creditors to provide full disclosure of the

terms of a loan.


Residential Service Contract - home warranty or insurance contract, generally for
one year, covering plumbing, electrical, and mechanical systems of the home.


Residual - Value or income remaining after deducting an amount necessary to meet

fixed obligations.


Reverse Mortgage - A type of mortgage designed for elderly homeowners with

substantial equity by which a lender pays a periodic payment to the borrower; the loan

balances increase with interest and payments causing negative amortization.


Right of First Refusal - opportunity of a party to match the terms of a proposed

contract before the contract is executed.




                                            S

Sale Leaseback - sale of property by seller and simultaneous leasing of the same

property by seller.


Sandwich Lease - lease held by a lessee (tenant) who becomes a lessor (landlord)

by subletting to another lessee (subtenant), typically the sandwich leaseholder is

neither the owner nor the user of the property.


Seasoning - loan which has been in force for a period of time thus establishing the

borrower's payment history, loans are tyically deemed to be seasoned after either six

months or one year.


Second Mortgage - mortgage recorded after another mortgage has already been
recorded and not yet released, subordinated lien.


Section 1031 - section of the Internal Revenue Code dealing with tax-free exchanges

of like-kind property.


Section 8 - privately owned rental dwelling units participating in the low-income rental

assistance program created by 1974 amendments to Section 8 of the 1937 Housing

Act.


Security Deposit - cash payment required by landlord to be held during the term of

the lease to offset damages incurred due to actions of the tenant.


Seller Financing - also known as Owner Financing.


Settlement Statement - also known as Closing Statement or HUD-1.


Short Sale - A sale of a house in which the proceeds fall short of what the owner still

owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale

and forgive the rest of what is owed on the mortgage when the owner cannot make

the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and

costly foreclosure, and the owner is able to pay off the loan for less than what he owes


Special Warranty Deed - deed in which the grantor limits the title warranty given to

the grantee, does not warrant against title defects arising from conditions that existed

before grantor owned the property.


Specific Performance - legal action in which the court requires a party to a contract
to perform the terms of the contract.


Subject To - buyer takes title to mortgaged real property but is not personally liable

for the payment of the amount due, buyer must make payments in order to keep the

property.


Subordination - a clause or document that permits a mortgage recorded at a later

date to take priority over an existing lien.


Survey - process by which a parcel of land is measured and its area ascertained.




                                               T

Tax and Insurance Escrow - account required by a mortgage lender to fund annual

property tax assessments and hazard insurance premiums, funded through monthly

contributions by the mortgagor


Tax Lien - a debt attached to the property for failing to pay taxes


Teaser Rate - contract interest rate charged on an adjustable rate mortgage for the

initial adjustment interval that is significantly lower than the fully indexed rate at the

time


Terms - conditions and arrangements specified within a contract


Time is of the Essence - a phrase that, when inserted in a contract, requires that all
references to specific dates and times of day noted in the contract be interpreted

exactly, in its absence extreme delays might be acceptable


Title - evidence of ownership, evidence of lawful possession


Title Defect - an unresolved claim against the ownership of property, prevents seller

from providing buyer clear title to the property


Title Insurance - an insurance policy that protects the holder from loss sustained by

defects in the title


Title Search - an examination of the public records to determine the ownership and

encumbrances affecting real property


Title Theory State - the system in which the lender has legal title to the mortgaged

property and the borrower has equitable title. Texas is not a title theory state. Contrast

with lien theory state.


Triple Net Lease - lease in which the tenant is to pay all operating expenses of the

property so that the landlord receives net rent, frequently used to mean tenant pays

taxes, insurance, and maintenance in addition to normal operating expenses


Trust - an arrangement whereby property is transferred to a trusted third party trustee

by a grantor/trustor, trustee holds the property for the benefit of the beneficiary


Trust Deed - conveyance of real estate to a third party to be held for the benefit of

another, commonly used in some states in place of mortgages that conditionally
convey title to the lender, same as Deed of Trust


Trustee - one who holds property in trust for another to secure performance of an

obligation, the neutral party in a trust deed transaction.




                                             U

U.S. Department. of Housing and Urban Development (HUD) - A federal agency

that oversees the Federal Housing Administration and a variety of housing and

community development programs.


Underwriting - The act of applying formal guidelines that provide qualitative and

quantitative standards for determining whether or not a loan should be approved.


Undivided Interest - an ownership right to use and possession of a property that is

shared among co-owners, with no one co-owner having exclusive rights to any portion

of the property.


Unencumbered Property - real estate that is owned free and clear.


Unilateral Contract - an obligation given by one party contingent on the performance

of another party, but without obligating the second party to perform.


Unimproved Property - land that has received no development, construction, or site

preparation (raw land).
Unrealized Gain - excess of current market value over cost for an asset that is not

sold.


Unrecorded Deed - instrument that transfers title from one party (grantor) to another

party (grantee) without providing public notice of the change in ownership.


Urban Renewal - process of redeveloping deteriorated sections of the city, often

through demolition and new construction, may be privately funded, but most often

associated with government renewal programs.


Usufruct - the right to use property--or income from property--that is owned by

another.


Usury - charging a rate of interest greater than that permitted by state law.


Utility Easement - use of another's property for the purpose of laying gas, water,

electric and sewer lines.




                                           V

V.A. Loan - home loan guaranteed by the U.S. Veterans Administration under the

Servicemen's Readjustment Act of 1944 and later to compensate lender in the event

of default.


Valuation - The estimated worth or price. The act of valuation by appraisal.
Variable Interest Rate - amount of compensation to a lender that is allowed to vary

over the maturity of a loan, typically governed by an appopriate index.


Variable Rate Mortgage - long-term mortgage loan applied to residences, under

which the interest rate may be adjusted on a six month basis over the term of the loan,

according to certain restrictions.


Vendee - a buyer of real estate.


Vendee's Lien - a lien against property under a contract of sale to secure the deposit

paid by the purchaser.


Vendor - a seller of real estate.


Veneer - wood or brick exterior that covers a less attractive and less expensive

surface.


Warehouse Fee - A closing-cost fee representing the lender's cost of holding a

borrower's loan temporarily before it is sold on the secondary mortgage market.




                                           W

Waiver - the voluntary renunciation, abandonment, or surrender of some claim, right

or privilege.


Warranty Deed - deed that contains a covenant that the grantor will protect the
grantee against any and all claims; usually contains covenants ensuring good title,

freedom from encumbrances, and quiet enjoyment.


Wholesale - to contract a property with the intention of reselling it quickly at a higher

price.


Wild Deed - An improperly recorded deed


Without Recourse - words used in endorsing a note to denote the note holder is not

to look to the debtor personally in the event of nonpayment.


Wraparound Mortgage - loan arrangement in which an existing loan is retained and

an additional loan is made that equals or exceeds the existing loan.


Writ of Execution - a court order which authorizes and directs the proper officer of

the court (usually the sheriff) to carry into effect the judgment or decree of the court.
                                               Y

    Yield - measurement of the rate of earnings of an investment.




                                               Z

    Zero Lot Line - a form of cluster housing development in which individual dwelling

    units are placed on separately platted lots, but are attached to each other.


    Zoning - legal mechanism for local governments to regulate the use of privately

    owned real estate to prevent conflicting land uses and promote orderly development.




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