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 email@example.com 1st Equity Lending Corp. 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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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.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 firstname.lastname@example.org 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 email@example.com 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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.com 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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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: firstname.lastname@example.org 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: email@example.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. .