MAREI Newsletter - April 2025 : simplebooklet.com

02 APR: Johnson County Landlords: DSTs07 APR: Carrots 30 Day Authority Challenge Starts08 APR: MAREI Meeting - Get Mentored Night 30+ Experts12 APR: Master Class: Insider Guide to Short Sales12 APR: Northland Real Estate Investors14 APR: REI Blackbook - Automation Q & A15 APR: Express Success - Seller Financing15 APR: Cass County Landlords Meet22 APR: Connected Investor - Find More Off Market Deals23 APR: Summit Investors FREE Virtual Help Night26 APR: Master Class: How to Underwrite Private Loans13 MAY: Sourcing Deals in 2025 with Troy KearnsWeekly Member Hosted EventsMON: New Investors Sub Group Bi Weekly (New Event not yet on the Calendar)TUE: Home Resource NetworkWED: WinVestors WeeklyGet more details and register for all of these events atMAREI.org/Full-Calendar/or call / text (913) 815-0111APR / MAY 2025MAREI memberIS DIGITALA digital version of MAREI member isavailable online where you will find thatthe links are clickable in the onlineversion and you can download andprint only the pages you want.MAREI.org/Newsletter/Kim TuckerCo-Founder of MAREIW elcome to Mid-America Association of RealEstate Investors (MAREI). Since2004, we have been serving the realestate investment community acrossthe Kansas City Metro Area.Made up of real estate investors,rental property owners, creativebuyers, note buyers, wholesalers,apartment owners, syndicators,private lenders, and people whoprovide products and services tothese members.MAREI has provided some of themost comprehensive educationalevents and networking opportunitiesfor our members and guests,providing them with the resourcesthey need to invest in themselves.Whether you are new to investing orwant to grow your business to thenext level, the community here atMAREI is ready to help you.2 MAREI member

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KCMOCourtsLEGISLATIVELY SPEAKING In the latest issue of the Real Estate Journal, Charles Tassell, ChiefOperating Officer of National REIA, provides a sweeping overview ofthe shifting federal landscape and its impact on housing providers.From budget gridlock in Congress and regulatory rollbacks at HUDto court rulings that are redefining tenant rights, the housingindustry is facing a wave of changes that could reshape how we dobusiness. Tax policy, federal shutdown threats, ICE enforcement,and energy efficiency delays are all part of the complex puzzle for2025.www.MAREI.org/AdvocacyThe Nation is Watching MAREI.org 3You can read the latest issue of the Real Estate Journal on the NationalREIA.org website.What was of particular interest in this legislative update was the Kansas City Source of IncomeCourt Case:It pits landlords’ right to choose tenants against laws protecting voucher holders and non-wageearners. A ruling either way could ripple through rental markets nationwide—upholdingprotections might force housing providers to accept Section 8 tenants, while a Housing providerwin could tighten screening power. The outcome is pending, but it’s a hot topic for propertymanagers.Prep for both scenarios: if tenant rights win, ensure your leasing process complies; if housingproviders prevail, you’ll have more flexibility but could face PR heat in voucher-heavy areas.Either way, this could reshape tenant pools and revenue strategies, especially in Midwestmarkets. The ultimate irony is that if Public Housing Authorities were efficient and effective, andless regulatory oriented than the alternate market customers, there would be NO NEED for thissuit as property owners would welcome.On the same ordinance, the Missouri Bill to ban the entire ordinance is still proceeding inJefferson City.

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It's not that the needs aren't there, it's thatour INTENTION is not to walk into a real orvirtual room and get them filled.In relationship building, we start from theperspective of, "Let me find out what THEYneed, what THEIR goals are, what THEY'REmissing, and see if there's any small way inwhich I can help."We try to see them, instead of trying tomake them see us.We look for ways in which we can help, evenin the smallest of ways, because we're lessinterested in getting a cup of water than inbuilding a well that provides water for a lotof people for a long time. Every bit of help we give--whether it'sadvice, referrals, connections to the rightpeople, help with a non-real estateproblem, a sympathetic ear, a high-five--isanother stone in that wall (wells have stonewalls, right? If not, this analogy just went tohell in a handbasket). And yeah, that wall might take ages to build,but once it's there, it lasts more or lessforever.other people. We need mentors. We need private lenders.We need contractors, service providers,partners, deal sources. We need advice,whether it's legal, tax, or related to aparticular deal or situation, Networking is mostly about identifyingpeople who can fill those needs and trying toentice them through charm, promises, ortrading to get what's missing.Again, that sounded judgmental, but it'snot...it's capitalism, and it's fine as long aseveryone leaves the transaction happy. But it tends to make us very 'transactional'; ifour big need at the moment is mentoring,and we want to find people who can providethat, we tend to ignore/dismiss (not in arude way, but certainly inside our heads) thepeople who don't have the resources to dothat. Ditto if we need money, or a partner, orwhatever.Setting out to relationship build isdifferent, though.It doesn't start from the space of "I need".The major benefit of being a member ofMAREI and coming to the meetings is all thePeople. We tell you over and over to comenetwork, and exchange business cards, thatyou never know when the next person youmeet is going to be a vital part of your team ornext deal.And while we were right about the Peoplebeing the number one benefit, there is moreto it than just networking and exchangingbusiness cards.Vena Jones-Cox Shared on Facebook “I'mforever encouraging members of my variouscommunities to BUILD RELATIONSHIPS withother investors. I know...I can SEE...that what many peopleare hearing is "Network with otherinvestors...get to know other investors...", andthat's not it. I've struggled to define the difference, butthis morning, thanks to Ram Dass of allpeople, it became clear to me. It's gonna takea minute to explain, though. “ As real estate entrepreneurs, we alwayshave some 'need' we're trying to fill with ARTICLE BASED ON SEVERAL FACEBOOK POSTSSHARED BY VENA JONES COX4 MAREI member Practice at the MeetingTuesday April 8th

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you're going to do, and do it when you sayyou're going to do it, and if you can't, make itMORE THAN right as soon as you can", youshouldn't even try to have a financial friendsrelationship with someone who thinks ofpromises and timelines as being squishy.If you value civility and rational discourse,being in a relationship with someone whoreacts to real or imagined problems by flyingoff the handle, yelling, accusing, threatening,etc. is probably NOT going to be somethingyou find worthwhile. 5. Sometimes, even relationship-orientedpeople can't find a way to work together,at least for a while, but when you find one, it'simportant to keep trying. Through the weekly exchange meetings mygroup holds, I've done deals with, I don'tknow, dozens of people. I've also IDed at least half a dozen people thatI'd REALLY like to do deals with, and evenTRIED to do deals with, but none of thosedeals have 'come together' so far. But they see that I'm TRYING to work withthem, and therefore, I think that they'reeffectively part of my "Financial Family", eventhough we haven't successfully put anythingtogether yet. They can see that I'm looking tohelp them, and I think they're trying to helpme, even though we have yet to put anythingtogether that stuck. To me, those are the key differencesbetween what I see as "networking" andwhat I see as "relationship building:In networking, you meet people, look to dobusiness with them, and you create a mentalRolodex of who might be useful to you andhow. (Basically you are collecting businesscards - our insert into the post) In relationship building, you get to KNOWpeople. at least from a businessneeds/goals/preferences perspective, and youbuild a posse of people whose back you have,and who have yours.The difference between the two. To me, most 'networking' is about identifyingpeople who have what I need, and finding away to get them to give it to me (again, not inan unethical way--just a very transactionalway). But relationship building is about seeking firstto understand what someone ELSE thinks theyneed, and how I can (or sometimes can't) helpTHEM, before trying to suss out how THEYmight be able to benefit ME.It FEELS different to be "networked with" thanit does to talk to someone who'srelationshiporiented. Often the short-term outcome is the same: atrade is made, a deal is done, and a goal isreached. But in relationship building, the intent isn'tone deal, one trade, or one goal: it's years ofthem.Part II: Relationship Building is HARD!!"Helping everyone who needs help in thisbusiness is a full-time, mostly-unpaid job! Goahead, try it, you'll run out of time, energy,and money way before you run out of peoplewho are perfectly willing to suck away all ofyour time, energy, and money!" was its maintheme all day. But the person who's seen realrelationship-building WORK knows thesethings:1. It's OK to have boundaries. Will I mentor you for free for as long as ittakes to get you past your fears and get you adeal? No, because that's abusive to ME--likeeveryone else, I have limited time and lots ofdemands on it and preferences about what I'dlike to do with it. Will I give you 10 minutes ofadvice at a meeting, or on the radio, abouthow to proceed with a particular deal, or withgetting the deeper help you need? Absolutely,time permitting. MAREI.org 52. It's OK to build relationships only withpeople who are relationship-oriented. When your ask is for unlimited advice andtime with no balancing recompense, it tellsme that you're not interested in relationshipbuilding, you're interested in getting yourneeds filled, and once you do, you might beeternally grateful, but that's not the stuff ofwhich relationships are built. When, on the other hand, you find out thatwhat *I* value is investment opportunities,and your ask is for help IN RETURN FOR dealsor parts of deals, that tells me that you're justas interested in meeting my needs as you arein getting yours met.3. It's OK that relationships aren't always"equal" at any given moment. When you build relationships, you're playing avery long game: decades-long, one hopes. And in a real 'financial friends' relationship,sometimes one 'friend' seems to be doing afavor for the other one to their owndetriment--like last week, when I set up a veryprofitable deal, then stepped out of it becausea financial friend of mine needed it to invest avery small IRA. I'm not worried about it,because although I'll never DEMAND that I geta favor in return, I know that at some point IWILL get a favor in return. This was, from one perspective, a win for himand a loss for me. But we'll do many win-windeals together in the future, and probably oneor 2 that are more a win for me than it theyare for him.4. It's OK to build (and continue)relationships ONLY with people who shareyour core values. A colleague can be well-resourced,relationship-oriented, have things you wantand need things you have, and still not besomeone that you want to be in a "financialfriends" relationship with. If one of your key values is, "Do what you say

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First Things First: Do You Want toStay or Go?Everything starts with one simplequestion: Do you want to keep yourhome, or do you want to move on?Your answer determines which bucketof options might apply:Cure-related workouts: Help youstay in the home and bring themortgage current.Non-cure workouts: Help you exitthe home without going through afull foreclosure.Let’s walk through both, starting withstaying put.These Are the Cure-Related Options1. MoratoriumsLearn More at the Master ClassSaturday April 12thIf you’re a real estate investor or agent working with distressed homeowners, understanding foreclosure workoutoptions isn’t just helpful — it’s essential. The better you understand what truly happens behind the scenes atmortgage servicing companies, the better you can guide sellers, protect deals, and even uncover opportunitiesothers miss. I just listened to a game-changing podcast featuring Julia Iden, President of Advanced MortgageEducation, and it was packed with must-know insights about how workouts actually work — from forbearancesand loan mods to short sales and deed-in-lieu strategies. Whether you want to help clients stay in their home orexit with dignity, these are the tools you need in your back pocket. MAREI.org 7If your financial hardship stems from adeclared disaster—like a hurricane,flood, fire, or snowstorm—you mightqualify for a moratorium. This putsyour mortgage on pause (nopayments due, no credit reporting, nolate fees) while you focus on repairingyour home. Julia explained howhomeowners usually get 6–12 months,and at the end, the missed paymentsare simply added to the back of theloan. It’s a big break if your house gothit by disaster.2. Special ForbearanceA special forbearance is short-termrelief. Think layoffs, surgeries, orwaiting on a legal settlement. Youmight make reduced payments—ornone at all—for several months. Thiswill impact your credit, but it buys time while life stabilizes. Julia sharedemotional examples, including ahomeowner battling a terminal illnesswho used this time to secure fundsfrom a life insurance policy.3. COVID ForbearanceDuring the pandemic, millions ofhomeowners took advantage ofCOVID-related forbearances. Thesedidn’t ding credit, and borrowerscould skip payments for up to 24months. But here’s the kicker: Manyborrowers misunderstood the terms.They thought they’d repay gradually—one extra payment a month. Inreality? A balloon payment is due atthe end unless another plan isworked out.Pro Tip: If you took a COVIDforbearance, talk to your mortgage

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If your loan has private mortgageinsurance (PMI), there might behidden help. The PMI company maycover missed payments directly tothe mortgage servicer in certainhardship cases—before foreclosureeven starts. This is called a claimadvance, and it can quietly save ahomeowner’s credit and home ifused early enough.These Are the Non-Cure OptionsSometimes keeping the home justisn’t realistic—and that’s okay. Thereare still dignified ways to exitwithout destroying your financialfuture.Traditional SaleThis is just your traditional salewhere the mortgage is paid off in fulland you walk away with any leftoverequity. Clean and simple.Short SaleYou owe more than the house isworth, but the mortgage companyagrees to accept less. It’s slower, butyou avoid foreclosure and may onlyneed to wait 1–3 years beforequalifying for a new mortgage. Askyour lender about a short sale pre-qualification—they might issue aletter stating what they’ll acceptupfront, saving everyone time.Full Guarantee SaleIf the house has serious issues (thinkblack mold, meth lab, lead paint), thelender may prefer to sell at a steepdiscount rather than take it back andrisk liability. In these cases, they’lloften bend over backward to avoidforeclosure—even postpone ascheduled sale.Deed in Lieu of ForeclosureThis is like handing the house keysback to the lender to avoid 08 MAREI member servicer now. Ask how repayment isstructured, because that lump sumcould blindside you at closing—orput you into a short sale situation ifyou’re selling.4. Repayment PlansCollectors often push this onebecause it’s all they’re allowed tooffer: Pay a payment and a half eachmonth until you’re caught up.Sounds reasonable until you realizemost people behind on one paymentcan’t afford 150% payments goingforward. Break the plan three times?You’re labeled a chronic delinquentand disqualified from other options.Julia called this the trap where manyhomeowners “go to die” in thecollections process.5. Loan ModificationsThis is the most commonly usedworkout tool in loss mitigationbecause it’s flexible. The mortgagecompany can:Change your loan type (e.g., ARMto fixed)Lower your interest rateExtend the loan term (up to 40years in some cases)Capitalize the past-due amounts(add them to your loan)Occasionally, cram down theloan balance if your home valuehas dropped drastically—butbeware, this could create a taxbill!Rule of Thumb: If your currentmortgage payment is more than 50%of your monthly income, a loan modprobably won’t work. Better to skipthe months-long process and startplanning to sell.6. Claim Advanceforeclosure. The benefits? Possibly nodeficiency judgment and no 1099from the IRS. But there’s a catch: Youusually must try to sell the house for90 days first. Also, be aware—it canimpact your ability to buy anotherhome for five years.Assumption (Rare but Possible)If someone else wants to buy yourhome and take over your loan(especially if your rate is low), somelenders—especially through lossmitigation—may allow it. This is rare,but not impossible.Knowledge Is PowerJulia closed with a simple butpowerful reminder: Don’t give up.There are options. But you mustspeak to the right department—lossmitigation, not collections. If you’rein trouble, you can’t afford to justcall the 800-number on yourstatement and hope for the best.Want to learn more? Listen to the full podcast episode:“The Workout Options with Julia Iden”on the Foreclosure Chroniclespodcast — packed with realexamples and insider tips straightfrom someone who worked in themortgage world for decades. Join Julia LIVE on April 12th for herMaster Class, where she’ll go evendeeper into foreclosure workoutstrategies.Whether you’re a homeowner indistress or a real estate pro whowants to better serve your clients,this class is a must-attend. Details and registration availableat MAREI.org/Calendar

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Learn More at the Master ClassSaturday April 26th MAREI.org 09About 10 years ago, I attended a realestate investor mastermind and wasintroduced to the concept of “financialfriends.”It was a group of people who keptalmost all their money in real estate orself-directed retirement accounts—andinstead of parking their cash in WallStreet, they lent it to one another fordeals. We spent the weekend divingdeep into deal structures and learninghow to put our IRAs and 401(k)s towork to build wealth together.Back then, just like now, most peoplelooked at the stock market andfigured that with a little luck and a lotof time, they might make 6%—or loseit all when things tanked. And whenthe market starts acting up, it seemslike a whole wave of people show upat the local REIA, suddenly flush withcash and looking to become “financialfriends.”Now don’t get me wrong—I alreadyknew all about private lenders.Our very first one was Grandpa. Hesaw the deals we were doing andasked what interest rate we werepaying the bank. When we told him,he said, “I’ll lend it to you for less,” andjust like that, we had a private lenderfor the next 20 years.Then came our insurance agent.Again, he saw what we were doing (areminder: tell people what you do ifyou want private lenders). He asked iflending us money for one more deal amonth could earn him $5,000. Theanswer was yes—and he fundedseveral deals with us.Then there was the investor whowalked into our office one day. He wanted to flip houses but didn’t wantto do the work. So instead, he offeredto become our private lender. Thatrelationship worked beautifully forboth of us.Over the years, we’ve found otherlenders through MAREI—our localREIA group. Some came to invest inreal estate, bought a few rentals, andstill had extra funds. Others realizedthey’d rather lend than swinghammers or screen tenants.But remember that mastermind Imentioned earlier? The leader—theguy teaching us all the strategy andpreaching about financial friends—ended up in a bad spot. Whether hegot in over his head or wasn’t playingstraight, many of his financial friendsdidn’t get their money back.It happens. Even at the REIA, you’ll Private lending can be one of the safest, most profitable ways to invest in real estate—if you know how to protect yourself. We’veseen lenders lose everything simply because they didn’t understand loan positions or forgot to record a lien. Before you becomesomeone’s financial friend, learn how to underwrite like a pro.

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occasionally hear the same kind ofstory: good investors with good trackrecords who fall on hard times andstop repaying their lenders.We’ve seen:A guy who scammed people into“50/50 partnerships” on a singlehouse—with ten different people.One house. Ten people. Allsupposedly getting 50%. He madeout like a bandit. The others? Notso much. If they’d known how tounderwrite a loan and record alien, they wouldn’t have lost adime.A guru group telling people that2nd, 3rd—even 17th positionloans—were “just fine.” Whenthose deals went south, the first-position lender was protected.The rest were left with worthlesspaper. Again, basic underwritingknowledge would’ve saved a lot ofpeople a lot of money.A guy running a ponzi scheme.And another who really was doingeverything right—until a familyillness and then COVID caused hisdeals to spiral. His lenders lostmoney too.So yes—you absolutely should lendmoney and do deals. Private lendingcan be powerful and profitable. Butyou have to know how to protectyourself.If you’re thinking about becoming aprivate lender or partnering ondeals, here’s a quick crash course inhow to underwrite and secure yourinvestments:10 Must-Know Steps Before LendingYour Hard-Earned Cash 1. Vet the Borrower and the Deal• Screen the borrower like a bank:experience, track record,creditworthiness. • Analyze the deal: purchase price,rehab budget, ARV, comps, and exitstrategy. • Ensure there’s enough equity incase things go sideways. 2. Use a Formal LoanApplication • Get borrower’s ID, LLC docs,purchase contract, scope of work,proof of insurance. • Package everything up. Experiencedlenders treat this like a standardprocess. 3. Secure the Loan with RealEstate (Hard Asset) • Always record a lien (mortgage ordeed of trust depending on yourstate). • This makes you a secured creditor—able to foreclose if needed. 4. Title Insurance & LienPosition • Order lender’s title insurance toconfirm clear title and protect yourlien. • Always confirm you’re in firstposition, unless you agree otherwise. 5. Close Through a Professional • Use a licensed attorney or titlecompany. • Have the promissory note,mortgage, and guarantees draftedand recorded. • Consider personal/corporateguarantees or UCC filings if needed. 6. Insurance, Insurance,Insurance • Require hazard insurance listingyou as mortgagee/loss payee. • Get builder’s risk, liability, or floodinsurance if applicable. 7. Control the Rehab Funds• Fund the purchase at closing. • Hold rehab funds in escrow andrelease them via draws afterinspection. 8. Plan for Default • Know your state’s foreclosureprocess (judicial or non-judicial). • Have an attorney ready, just in case. • Be prepared to take back or sell theproperty if needed. 9. Stay Legal • Don’t act like a bank unless you’relicensed. Know your state’s lendinglaws. • If using SDIRAs (like Chris McCartydoes), follow IRS rules arounddisqualified persons and prohibitedtransactions. 10. Keep Good Records • Store your loan docs, drawrequests, inspection reports,insurance, and communication logs. Want to Learn from a Pro?If you're serious about lending—anddoing it the right way—join us atMAREI on Saturday, April 26th for aspecial Master Class with ChrisMcCarty.Chris has completed hundreds ofprivate lending deals using his self-directed Roth IRA and built a familylending business that spansgenerations. He’s seen the good, thebad, and the ugly—and he’s teachingwhat you really need to know beforebecoming a private partner. Visit the MAREI Calendar to signup now!10 MAREI member

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MASTER CLASSESThe Knowledge You NeedJust getting started, or adding new knowledge, or just refiningyour skills, these are what’s working now in real estate. MAREI.org 11When & WhereHeld generally on the2nd & 4th Saturdays ofthe Month on Zoomfrom 8 am to 2 pm.Replay & handoutsprovided after.CostPrices vary dependingon the topic. Most arebetween $47 and $97for MAREII Membersand $97 and $127 forNon-Members whenyou register early.To RegisterVisit the MAREICalendar of Events tosign up. Not a member,we have a $25 a monthoption to test it out.DiscountWant to save a fewdollars, use tbhediscount code MCsave to take 25% offthe listed classesApril 12thInsider’s Guide to Short SalesForeclosures are back, and thatmeans you need to know how tonegotiate with banks to take less thanwhat they’re owed. It’s a strategy thatcan make you thousands this year!Julia Iden - Lending InsiderEarly Bird Prices $57 for MembersApril 26thHow to UnderwritePrivate LoansToo many private lenders make loanswithout the proper due diligence onthe property, the people, and thepaperwork. Don’t lose your money,learn to do it right!Chris McCartyEarly Bird Price $47May 10thHolding Title in a Land TrustLand trusts are a powerful way to holdtitle for privacy—but that’s justscratching the surface of all the waysthey can help you. Learn why yourproperties should be in land trusts.Todd VanMeterEarly Bird Price $47May 24thNo ClassMemorial DayTake a break from master classes andspend the day with family. Or hit upthe MAREI Library to catch up onsome replays of past meetings andother resources.MAREI.org/LibraryJune 14thFast Desktop AnalysisTo Get More DealsBeat your competitors to great deals>Be ready to move fast. This workshopteaches you, hands-on, how to getALL the information you need to dothat, right from your computer.Vena Jones-CoxEarly Bird Price $47June 28thKeep More Profitwithout More DealsFeel broke despite making money?Understand why profit gets pushed tothe back burner. We’ll break down theprocess of empowering you to retainmore of your hard-earned cash.David RichterEarly Bird Price $47

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Want to get rich in real estate? Start bylearning how to spot a deal—and the bestway to do that is by driving for dollars.In one of his YouTube videos, real estateinvestor Troy Kearns jumps in his truck, firesup the DealMachine app, and gives us a front-row seat to how he finds investmentproperties the old-school way: by physicallydriving neighborhoods and identifyingdistressed houses.You can catch the full video on the MAREIBlog or Troy’s YouTube ChannelWhat Is Driving for Dollars?Driving for dollars is when you cruisethrough targeted neighborhoods looking forsigns that a property might be a goodinvestment—think peeling paint, overgrowngrass, boarded-up windows, or just plainneglect. These are often the hidden gems:owners who might be ready (or need) to sell,even if their property isn’t officially listed.Troy puts it best:“If you’re good at finding money, you know howto find what money looks like.”That beat-up house with weeds in the yard?That’s opportunity. And Troy’s foundhundreds of deals this way—many of whichturned into flips or rental properties in hisnow 350-unit portfolio.Tools You Need Before You StartBefore hitting the streets, Troy gears up witha few key tools:DealMachine App – This is the heart ofthe operation. It tracks your drivingpath, pulls up owner info, sends directmail, and can even skip trace on thespot. (MAREI has a Killer Trial for DealMachine – click here)Phone + Camera – To document thehouse, take photos for marketing, andfollow up with sellers.A keen eye – You’ve got to train yourselfto spot the subtle (and not-so-subtle)signs of distress.Troy keeps it real: “Have your head on a swivel.Look for dead grass, old roofs, broken fences,halfway-open garages—anything that seems outof place.”What to Look for When DrivingOnce he’s on the road, Troy shows exactlywhat to look for:Overgrown or dead lawnsBoarded-up windowsPeeling paintGarages that don’t closeRoofs that look shotPiles of junk in the yardOld or run-down cars in the drivewayHe emphasizes paying attention toeverything. Even the smaller signs of neglectcould indicate a motivated seller.“Boards are like the best thing you could eversee. Boards = Money.”Using DealMachine in Real TimeTroy walks through the DealMachineprocess:Sourcing Deals in 2025Tuesday May 13

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Spot a property1.Confirm the address in the app2.Add it as a lead3.Take a clear photo (it goes directly onthe mailer!)4.Use the app to skip trace the owner ifyou want to call them right away5.Send out mailers6.He even shows how his mailers look—withhis photo and a personalized messagereferencing the specific property. These gostraight to the owner’s mailbox.Why the Neighborhood MattersTroy also gives a little masterclass onchoosing the right neighborhoods:Lower-income areas = more distressedproperties = more leadsHigher-income areas = fewer signs ofdistress, fewer dealsFirst-time homebuyer areas = primefor flipsAvoid the “back end of the street”unless the price is unbeatableHe drives through one of his favoriteneighborhoods and points out houses he’s already flipped—two of them on the samestreet! He loves to do repeat business in thesame neighborhood.Real Talk: Why Driving for Dollars WorksThis strategy is old school, we’ve heard about itfrom multiple experts over theyears. It it still works. Why?Because most investors aren’t willing to put inthe effort. They rely on lists and online leads.Troy? He drives the streets and finds dealsothers overlook.“The last time we drove for dollars, I foundsome great properties. The lower the pricepoint, the more likely you’re going to seepeople with distress or financial trouble—andthat’s where the deals are.”Before signing off, Troy reminds us:Be consistentUse your tools wiselyDon’t ignore signs of distressAlways be marketing (even whendriving)“Get started driving for dollars today soyou can get rich tomorrow.”Troy Kearns is a full-time real estateinvestor with over two decades ofexperience buying, flipping, and managingproperties across multiple markets,including Las Vegas and Kansas City.Known for his no-fluff, boots-on-the-ground approach, Troy specializes in off-market deals, skip tracing, and buildinglong-term wealth through real estate. Witha portfolio of over 350 units, he’spassionate about helping new investorstake action and find financial freedom.You can catch Troy at MAREI on May 13th,2025 when he will be sharing the bestways to source investment property dealsin 2025. MAREI.org 13

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Watch Videos on the BlogVisit MAREI.org Click on Artoc;esby Jeff WatsonDuring the National REIA cruiseearlier this year, considerable timewas spent discussing wholesaling. Ihad the opportunity to speak to theaudience regarding the trends weare seeing in multiple states as towholesaling from both legislativeand regulatory perspectives. Whendiscussing wholesaling, it’simportant to define certain terms.Most people would probably definewholesaling as the process ofputting a property under contractand then assigning that contract tosomeone else so that the person towhom the contract is assigned is theone who buys the property, and thewholesaler is paid via an assignmentfee. This typical definition ofwholesaling needs to change! There are a number of states thathave taken the practice I justdefined and made it against the law, the most recent two being SouthCarolina and Oklahoma. They nowrequire that a person own theproperty before they can begin toadvertise it. What stands out aboutthat is that those two states are notknown for being highly-regulatorystates, but are usually more free-enterprise, freedom-basedstates.States on the other side ofthe spectrum are also crackingdown, like Illinois, Oregon,Washington and Colorado. There isalso some case law in the last yearor two from Tennessee that isaverse to wholesalers.You may have noticed that in thedefinition of wholesaling that I gave, Iused the word “contract”. Whatexactly is a contract? In contract law,a "meeting of the minds" refers tothe mutual understanding andagreement between all partiesinvolved in a contract, meaning theyall clearly comprehend and acceptthe terms and conditions of the agreement, which is considered acrucial element for a valid contract toexist; essentially, it signifies thateveryone is on the same page aboutthe deal. That’s where things becomeproblematic.Wholesalers market by saying, “I buyhouses” or “I close quickly” or “I paycash”, and then they enter intocontracts to buy houses. Theproblem is that they do none ofthose things.They don’t buy, theydon’t pay cash, and they don’t closeat all. They are saying things publiclythat are not consistent with theiractual business practices.When a person enters into acontract, they are representing inwriting that they have the intent,legal capacity, and financial ability toperform according to the terms ofthat contract, yet many wholesalersare putting a lot of properties undercontract or are “tying them up” whenthey do not have the intent, capacity

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sell it in a separate, fully-funded,stand-alone transaction.Those who follow this model aredoing what I refer to as proper back-to-back closings. They are notseeking to use the end-buyer’smoney to pay for their transaction.By the way, those transactions,called “dry closings”, are no longerpermitted by every major titleinsurance carrier or underwriter.After purchasing a property,wholesalers can expose the propertyto the market for a longer periodwhile sometimes improving thecondition of the property, althoughthey often do absolutely nothing toit.Those who are doing back-to-backclosings have discovered that theycan do fewer deals while making thesame gross revenue. They areworking less, have lower costs andfewer things that can go wrong, andthey make more money. That’s not abad way to do real estate!National REIA has been a leaderwhen it comes to educating investorsin the right way to do wholesalingand remains committed to puttingaccurate information out into themarket. They created a video withkey regulators from the OhioDivision of Real Estate which hasbeen used to influence thedepartments of real estate in manyother states. You can find it on theMAREI Blog here:https://marei.org/wholesaling-nationwide-trends-in-regulation/I know that the Ohio Division of RealEstate still requires this video as partof the continuing education andtraining for all real estate agents inthe state, and it has been used toeducate other state regulators andinvestigators as to some of the or ability to fulfill the terms of thecontract. They are putting propertiesunder contract with the soleobjective of assigning thosecontracts to someone else.Wholesalers might get defensive andsay, “But Jeff, the contract says that Ican assign it.” Yes, it does, but itdoesn’t say that is exactly what youare going to do because if it did saythat you were going to assign it, itwouldn’t be a valid contract sinceyou are not the buyer. You areentering into a transaction for whichyou do not have the intent, capacityor ability to perform.I think it’s only a matter of timebefore some state agency comesafter a large wholesaling group byvirtue of saying they are engaged in afraudulent and deceptive businesspractice that is harming consumersbecause they say things in theiradvertising that they do not laterperform. I’ve said it many times inmany different forums. If you are awholesaler, and your business ispredominantly or exclusivelyassignments, then you are engagedin fraudulent business activity, andyou need to change your businessmodel.Now that I have probably madesome of you frustrated with me, letme give you some good news aboutwholesaling. Many leaders in theindustry are recognizing the need fora change. New resources arebecoming available for wholesalerswho desire to actually buy theproperties and then resell them.Many wholesalers with whom I haveworked have adopted the new modelwherein they actually purchase theproperty in a fully-funded, stand-alone transaction and thenimmediately (or shortly thereafter)begin remarketing the property and basics of wholesaling.(MAREI has also included a similarvideo with local attorney JulieAnderson dealing with Kansas andMissouri regulations)____________Jeffery S. Watson is an attorney whohas had an active trial and hearingpractice for more than 25 years. As acontingent fee trial lawyer, he has aunique perspective on investing andwealth protection. He has tried over20 civil jury trials and has handledthousands of contested hearings. Jeffhas changed the law in Ohio fourtimes via litigation. Read more of hisviewpoints at WatsonInvested.com. MAREI.org 15The Arizona CaseSeveral real estate investors, titlecompanies and attorney’s were suedby the Arizona Attorney General’sOffice.It was more about investors beingMisleading. And here at MAREI, wethink that how this case shakes outin the end might affect everything wedo when attempting to buy housesdirectly from sellers who have amotivating factor that we all target inour marketing efforts.We need to watch the case closelyand learn what not to do when itcomes to naming our company, hardtactics in door knocking, sendingletters, and misrepresenting ourintentions.This case will highly influence rulesand regulations for people who buyhouses directly from the consumers.See more on the MAREI Blog

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Totally brand new to real estate investing and not sure exactly where to start? We haveassembled a few of the tools of the trade to help you get to that first deal.5 Steps to Your First Deal: What you need to do to Find and Acquire Your First DealPower Team Builder: Who You Need on Your TeamFunding Resource Guide: All the Different Ways to Fund Your DealSell Lead Sheet: When that Seller Calls, What do you AskProperty Inspection Sheet: What to Look at as You Walk through a House and toEstimate Your Rehab Costs (Several Versions)Due Diligence: All the Steps to take BEFORE You Buy the HouseMAREI Member’s can log in and access today at MAREI.org/LibraryAll attendees at the April MAREI meeting will receive a free copy via email, you just have topre-register and ATTEND the meeting. (be sure to check in and get Your Name Tag)GovernmentAffairsbenefitsNEW & NOTEWORTHYEducationReplaysBack to 2020All our meetings since2020 have beenrecorded and we havenot only about 50meetings, but all ourfree virtual eventsavailable at MAREI.org/ReplayLog In requiredAdvocacySee the latest issue, callto action or change inrules and regulations.MAREI.org/AdvocacyNewInvestorStarterKitMAREI BlogGet updates onstrategies, data, currentaffairs and memberbenefits.MAREI.org/blog16 MAREI member when you need helpright now start with

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LEARN CONNECT DO!MEETINGSHeld on the 2nd Tuesday ofevery month since 2004, ourmonthly meetings have been amainstay in Kansas City. Withour trade show & networkingcombined with an informativespeaker you can aquire theknowledge you need and theconnections to put thatknowledge to use.MAREI.org/Meetings/MASTER CLASSESWhile we have offered severalSaturday workshops for the past20 years, this past October wehave partnered with REIA groupsacross the nation to be able tobring you on average 2 weekendMaster Classes every month. Mostly taught online, this givesyou the ability to attend fromanywhere. MAREI.org/Master-Class/EXPRESS SUCCESSIt’s crucial to have knowledgeabout the particular real estatepath you choose, the ability toapply that knowledge effectively,and to build relationships in yourreal estate investing community.We have partnered with VenaJones-Cox & Express Successhelps you put all the piecestogether.AS A VALUED CHAPTER OFNATIONAL REIA, MAREI ISDEDICATED TO PROVIDINGEXCELLENT EDUCATIONAL &CONNECTING OPPORTUNITIES.OUR EVENTS CATER TOINVESTORS OF ALL LEVELS –WHETHER YOU'RE A BEGINNERSEEKING TO LEARN THE ROPES,AN INTERMEDIATE INVESTORLOOKING TO IMPROVE YOURBUSINESS, OR AN ADVANCEDINVESTOR WANTING TO GROWAND GIVE BACK TO THECOMMUNITY.MAREI.org/Express-Success MAREI.org 17

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AFTER HOURSLots of relationship buildinghappens at the meeting after themeeting. We lost this informaltime with friends during COVID.They are back and better thanever at our new meeting locationat the Double Tree. After themonthly meeting connect withfriends over food and beverageswith no agenda.Where Deals Get Done!MEMBER EVENTSOur members are looking toconnect with you and help yousucceed. From local LandlordGroups, Regional Networking,Master Minds and a few online,you are sure to find a few moretimes a month to makeconnections. We have all theseevents posted for yourconvenience on our calendarMAREI.org/Full-CalendarFACEBOOK FORUMThe MAREI Facebook Groupstarted as a way for a few membersto chat online about who to call forproducts and services. We startedsharing deals with local and out ofarea investors. And today we alsoask for how to help and discuss theissues. Won’t you join us onlineand talk real estate and to conductbusiness.MAREI.org/FacebookMEMBERSThese are the people who youare going to be doing businesswith. Where you will find deals,money, services, and help.Nothing helps put your mind atease more than having anexperienced pro give you expertadivce, show you little knowntechniques and powerfulsolutions to keep you movingforward or to help you out whenthings don’t go quite they waythey should.VENDORSThese are the people who youare going to be doing businesswith. Where you will find deals,money, services, and help.Nothing helps put your mind atease more than having anexperienced pro give you expertadivce, show you little knowntechniques and powerfulsolutions to keep you movingforward or to help you out whenthings don’t go quite they waythey should.VOLUNTEERSThe members who give of theirtime to help us pull off a rehabhouse tour, a monthly meeting orraise 60,000 meals for Harvestersare committed to helping yousucceed. While they may or maynot have all the answers, theycan point you to the people whodo. And when we ask for help,they are always there with asmile on their face and a get ‘erdone attitude.18 MAREI member

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AttorneyAnderson & AssociatesLandlord Tenant & Real Estate Law+Julie Anderson MOKSLaw.com(816) 931-2207See site for Free FormsAttorney Spence StoverBusiness & Real Estate LawStoverLawFirm.com(816) 778-2992Stockton & Kandt, LLCElder & Business LawCarrie Stracy & Blake Cauble-JohnsonStocktonLaw.com(913) 856-2828B uilding SupplierDeMayo EnterprisesWholesale CabinetsMark YandaDeMayoEnterprises.net(913) 980-426020 MAREI member Better Service, Inc.HVAC, Plumbing, ElectiralSean MaddenBetterServiceIncKC.com(816) 756 - 4244KC Hammer Home ImprovementJon HarrisKCHammer.net(816) 382-7266Olson Foundation RepairJohn Murphy(913) 592.3300OlsonFoundationRepair.com/RT ConstructionMatt MaconRoof4KC.com(816) 337-7037CPA - BookkeepingESSISTANT KCBookkeeping & Payroll & MoreAngie MartinEssistantKC.com (816) 287-1818Home Depot2% Rebate for Members20% off PaintHomeDeopt.comCleaning & Trash OutCleaning Maids In & OutVeronica Bolton(816) 659-2929CleaningMaidsInandOut.comContractorAll Pro AC & HeatingMike StewartAllProACandHeatingLLC.com(816) 210-0809Find the directoryonline 24-7 at MAREI.org/Business-Directory

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Insurance Capitol AgencyBrian RauberCapitolAgencyIns.com (816) 436-1016Forsythe AgencyFarmer‘s InsuranceChris ForsytheForsytheAgency.com(417)321-5079Millenial Specialty InsuranceLandlords, Builder’s Risk, MoreNREIA.ArcanaInuranceHub.com(844) 898-8110IRA Self Directed CNB CustodyJenny HeimanCNBCustody.com(800) 680-0340Mainstar TrustMainstarTrust.comJordan Scafe1-800-521-9897Lending Construction Funding SolutionsBusiness & Real Estate Loan BrokersStuart, Bryan, Cassandra or Katelen(833) 338-6346ConstructionFundingKC.comCorridor FundingHard Money, DSCRRick ChunnCorridorFunding.com(210) 909-7977Crossroads Investment LendingHard MoneyBritton AsbellKCLend.com(913) 766-2900Flat Branch Home LoansSenior Mortgage BankerBeth LangstonApplyWithBeth.com(816) 679-4000JM RealEstate CapitalInvestment LendingRob FishbeinJMRECapital.com855-WE-CLOSELonghorn InvestmentsHard MoneyKeith GriffinLonghornInvestments.com(816) 207-3380Merchants MortgageMushy Money, Hard, DSCRSusan AubinMerchantsMtg.com(913) 522-2650North Oak InvestmentBernie Richter(816) 249-1001 x 402NorthOakInvestment.comExchangeHeartland 1031 Solutions1031 Exchange, DSTTodd WelhoelterHeartland1031Solutions.com(816) 365-8010Insight Investment Advisers1031 Exchange, DSTJoshua Wright & Julia FritzlenInvestWithInsight.com(913) 800-0954 Joshua(816) 589-1509 JuliaFractional InvestmentGroundfloorInvest in part of a Short Term HighInterest Rate Real Estate LoanMAREI.org/GroundfloorHome BuyerHouse MaxHerb Brown(913) 999-9200HouseMax.comkcmoHomeBuyer.comScott Tucker(916) 408-3600InspectionsKC Property ExpertsAdam Pointer(913) 709-3199KCPropertyExperts.com MAREI.org 21The Big Annual MAREI Trade ShowComing Up July 8thMAREI Business Members WillHave 1st Access & Better PricingTo Reserve a TableWatch Your Emails About Mid April

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Office SupplyODP SolutionsODPBusiness.com Log into MAREIMember.com for discount informationProperty ManagerDan Reedy Inc.Dan ReedyMOREKC.com(816) 564-5265Grit Property GroupAngie Austin GaskillKCGrit.com(816) 200-0232Mark eting - LeadsCarrotHigh converting websites MAREI.org/CarrotWebMAREI.org/CarrotMktWsConnected InvestorData, Skip Trace & ContractsMAREI.org/ConnectedInvestorDeal MachineData, Lists, Unlimited Contact InfoFree Trial + 50 Free PostcardsMAREI.org/DealMachineTrialMAREI.org/DealMachineChallengeMotivatedSellers.comJoseph Tenenbau(305) 871 9548MotivatedSellers.comPropStreamLists, Research, MailingMAREI.org/PropStreamREI BlackBookTotal Marketing PackageWebsite, CRM, Tracking, MoreMAREI.org/REIBBsee in action MAREI.org/BBdemoHome Rental ServicesPaul BrantonHome4Rent.com(913) 627-9543M & M Property ProsMichael & Michele BelmanMMPropertyPros.com816-379-6704PURE Property ManagementMary Beth RetkeKS.Purepm.com785-806-3305 Ext. 5613Resource KCAngie Austin Gaskill1ResourceKC.com(816) 200-0232Sterling Home RentalsLeAnn HiattSterlingHomeRentals.com*816) 768-0807Trailhead Property ManagementJenny ShipmanTrailheadPM.com(816) 791-7077(913) 406-070122 MAREI member Join the Conversationtake part in MAREI’sFacebook GroupFacebook.com/Groups/KCREIpost questions, share thoughts, get referrals.

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Title CompanyAccurate Title CompanyDave GreenAccurateTitleCo.com(913) 338-0100Overland Park & KC & Gladstone Advantage Title LLCBud Whisler(816) 279-8484AdvantageTitleLLC.comSt Joseph & Blue SpringsPrime TitleRaul Rodriguez & Kristina BelsheKCK: (913) 342-8525OPKS: (913) 342-8183PrimeTitleUSA.comBilingualReal Estate ServicesExecutive Asset RealtyJim GodwinTheJimGodwinTeam.com(860) 805-9156iFinder OffersiBuyer NetworkiFinderOffers.comAnne Lakusta(214) 502-7395Realty ResourceScott TuckerRealtyResourceKC.com(913) 406-0701ScreeningRent PerfectTenant Screening PlusRentPerfect.com(877) 922-2547Log into MAREIMember.com fordiscount informationMid-America Association of real estateinvestors (MAREI) does not exist to renter anddnoes not provide legal, tax, economic orinvestment advice and dislcaims all liability forthe actions or inaction taken or not taken as aresult of communictions from or to its members,officers, directors, employees, contractors, andguests. Each individual should consult theirown professional adviro.MAREI provides general real estateeducational information to help further your fullor part time real estate career. Our goal is toeducate the investor based on informationedicted from material contributed by leaders inthe real estate investing, legal, accounting,property management, financial, legislative andother related professions.MAREI makes every effort to produce andpublish the most current and accurateinformation possible. Moreover, because of theever-changing laws relating to landlord-tenantrelationships and other aspects of real estate,specific application of any of our material to amember’s individual situation should be madeonly with the advice of local legal counsel. Nowarranties, expressed or implied, are providedfor the data we publish, its use or itsinterpretation.MAREI, its officers and the contributingmembers specifically disclaim any liability forloss or risk, personal or otherwise, which maybe incurred as a consequence, directly orindirectly, of the use or application of any of theideas, concepts, techniques, forms, documentsor contents presented or implied at meetings orother educational forums presented by thisassociation.By attending any of the activities provided bythis association, the member hereby releases,discharges and agrees to indemnify MAREI, itsrespective officers, directors, members,employees and/or contractors, past or present,from any and all liabilities associated with ourorganization.The viewpoints expressed and methodspromoted by speakers at MAREI events are notnecessarily those of the board, staff, or leadersof the association.Contact Us 105 East Street, #29125Parkville, MO 64152 (mail only)www.MAREI.orgwww.MAREIMember.cominfo@MAREI.org913-815-0111 MAREI.org 23

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There are a lot of different benefits of being a member ofMAREI. We offer three options to become a part of MAREI. There is the FREE option that gives you no benefits otherthan access to our free public social media groups, anemail subscription, and pay as you go at the meetings. Our Investor member that comes with all benefitsincluded. Our Business members that get all benefits for 2people, plus advertising opportunities. Compare below.PICK YOUR MAREI MEMBERSHIPBENEFITSAttend Monthly Meetingv i s i t w w w . M A R E I . o r g / M e m b e r s h i p t o f i n d o u t m o r ePublic Facebook / LinkedInMember Digital LibraryAdd Additional up to 2Discounts on WorkshopsJoin Express Success (fee)Lifeonaire Benefits (2 Events)Member DirectoryFREEINVESTORBUSINESSA$35 Fee$50 Each$50 EachOn Business DirectoriesHome Depot DiscountHost Vendor Table for FeeAnnual Auto Renwal PriceFREE$149 $699Monthly Option for 1 Person - $25 / MonthQuarterly Option is$249 / QuarterInvestor Website (Basic)