Investment News

Newsletter of Mid-America Association of Real Estate Investors January 2008

444+ Members

Rental Dwelling Registration Program

Registration What constitutes a rental dwelling?
In October 2007, ordinance number 071046 was passed requiring A rental dwelling is any dwelling that contains a dwelling or
that all rental housing units within the city be registered with the rooming unit that is being offered for rent or being occupied by
City starting Jan. 1, 2008. You may register your units anytime any person other than the owner. However, property occupied
during the month of January 2008 without penalty. A $50 per by a direct family member of the owner will not be considered
month fine for failure to register will begin Feb. 1, 2008. rental property. For example, if you own a single-family dwell-
ing and rent it to a direct family member such as your child, this
A rental dwelling means any dwelling that contains a dwelling or is not considered a rental property under the ordinance.
rooming unit that is being offered for rent or is being rented or
occupied by any person who is not the owner of the premises.
However, property occupied by a child, grandchild, mother, father,
sibling, mother-in-law, father-in-law, or grandparent of the owner
is not considered rental property. In addition, duplex dwellings in
which one of the units is owner-occupied are not considered rental
for purposes of registration.
Beginning Jan. 1, online registration will be available (please read
the application instructions prior to online registration). Applica-
tions can also be printed from this site and submitted by mail or in
person. Copies of the application will be available starting in late
December at the Neighborhood Preservation Division office at
4900 Swope Parkway; Kansas City, MO. 64130. Registration of
rental properties is keyed to the ownership of each property. You
may register several properties on one application as long as they
are under one ownership.
Registration is required on a calendar year basis and will expire
each Dec. 31. Applications for renewal will be accepted beginning
each Jan. 1.
Inspection
Rental dwellings located in designated target areas must also be
inspected for compliance with the City’s nuisance and property
maintenance codes. The target neighborhoods have not yet been
designated by the City Council. Inspections will begin May 1,
2008.
If your property is located in one of the target neighborhoods, the
Neighborhood Preservation Division will contact you to schedule
an exterior inspection of the building and grounds, and an interior I own a duplex and live in one of the units. Is this a rental
inspection of any vacant units. dwelling?
For more information about the Rental Registration and Inspection No. Duplexes in which the owner resides in one of the units are
Program, contact the Neighborhood Preservation Division at (816) not considered rental dwellings for purposes of this ordinance.
513-9041. When did this program begin?
The City Council passed ordinance No. 071046 creating the
Frequently Asked Questions:
program on Oct. 18, 2007. The ordinance specifies that regis-
What does the program require? tration will begin Jan. 1, 2008 although no penalty will be
The Rental Registration and Inspection Program requires that charged as long as registration takes place at some time dur-
owners of rental property annually register their units with the City ing the month of January.
of Kansas City, Mo. Failure to register units that are regulated by
the program is a violation of the City's property maintenance code. How can I get an application?
In addition, units that are located in certain neighborhoods will be
required to undergo inspections in order to be legally occupied. (Continued on page 10)
 MAREI
Mid-America Association
Of Real Estate Investors
Mid-America Association of Real Estate
Investors (MAREI) is one of the largest
real estate investor associations in the
mid-west. MAREI members consist
of full and part-time investors, beginning
investors, real estate brokers and agents,
attorneys, contractors, accountants,
property managers, renovation specialists,
appraisers, bankers - people who want
to enjoy the many benefits of
real estate investing.
MAREI was established in 2003 and
promotes networking and educational
opportunities to its membership.
MAREI services members in
Kansas, Missouri and Nebraska.
MISSION STATEMENT
To provide education, discussion and
networking opportunities to help real
estate entrepreneurs & investors reach
their financial goals using sound,
honest business practices.
BADGE POLICY
All members of Mid-America Association
of Real Estate Investors and guests
must wear a name badge to all General
Meetings. There will be no exceptions.
Mid-America Association of
Real Estate Investors
115 E Gregory Blvd, Suite B
Kansas City, MO 64114
Info Line:
Phone: 816-374-5885
Fax: 816-523-4448
www.MAREInet.com
Info@MAREInet.com
Page 2 ———— Investment News —————
Investment News
January 2008
INVESTMENT NEWS © 2008 by Mid-America Association of Real Estate Investors
(MAREI), a Real Estate Trade Association. Published monthly by MAREI and in-
cluded as benefit for our members. Quotations and reprints are permitted with full
credit given to author, plus “The Investment News: Newsletter of Mid-America As-
sociation of Real Estate Investors.” Subscriptions are $59 per year or are included
with membership.
MEMBERSHIP
Twelve month individual membership is $99, 2 Person Membership is $149. Guest
Fee is $25.
Articles must be received by the 1st of the month two months prior to issue date to
be considered for publication. To be considered for a specific issue, it is recom-
mended you contact the Editor at least three months prior to issue date. All submis-
sions are at the discretion of the editor and are subject to editing.
Advertising space deadline is the 1st of the month one month prior to publica-
tion. All camera-ready artwork and materials for non-camera ready ads are
due by that date. Please see www.MAREInet.com for more information.
CODE OF ETHICS
MAREI members are expected to be civic minded and willing to operate with high standards of honesty and integrity.
It is our duty to conduct ourselves with the highest principles of the free enterprise system. We strive for MAREI to be
synonymous with competence and fairness. As MAREI members, we hereby bind ourselves to this code of ethics:
1. We shall not discriminate against any person with regard to race, color, religion, age, national origin, sex, handi-
cap or familial status as defined by current Kansas, Missouri, or Nebraska law.
2. We shall recognize that real estate is a service related industry.
3. We shall refrain from engaging in any illegal practices, or defrauding any member, customer, or association, with
the aim of always conducting business in a professional manner.
4. We shall endeavor to stay informed and updated on matters affecting housing in our communities, and adhere to
local, state and federal laws.
5. We are individually responsible for our own due diligence and continuing education. Members are expected to
verify any and all assumptions regarding business decisions to prevent falling victim to fraud, misrepresentations
and illegal practices.
Further, if any allegations of conduct considered detrimental to the purposes and interest of MAREI are received in
written and signed communication to the management, we will consider the matter. Should a decision to take further
action be made, a furnished copy of said allegation (s) to the accused, who shall be given adequate time to reply.
Thereafter, management shall take such further action as it may deem property and in accordance to this code of ethics.
The information contained herein is believed to be accurate; however, it is not guar-
anteed or warranted in any manner and is subject to change without notice. Writers’
and speakers’ opinions are not necessarily those of MAREI. You are advised to
seek professional advice.
Mid-America Association of Real Estate Investors
is a Member of the National Real Estate Investors Association
And the Kansas City Better Business Bureau.
www.MAREInet.com
 The Slowdown We Can Handle
by Lawrence Yun, NAR Chief Economist
The economy is slowing. In the fourth quarter, GDP growth will
have shrunk for the first time since the 2001 recession. The pro-
jected decline is only 0.4 percent, but it is nonetheless a decline.
Because of the lag time in data collection, economic shrinkage will
be reported in late January. At that point there will be shouts of
RECESSION, RECESSION, and RECESSION.
Beware of Doomsdayers
No worries though. Technically an economic recession comprises
two consecutive quarters of contraction. (It is measured that way
because only a sustained economic contraction leads to sustained
net job cuts.) The projected fourth quarter decline is due to cut-
backs in residential construction activity and from a statistical
“quirk” in business inventory investment. The business inventory
components generally regain quickly. The inventory-to-sales ratio
is touching record lows (i.e., companies are operating with thin
inventory) and some build-up in business inventory is inevitable
going into 2008. The cutbacks in residential construction are con-
tinuing but most of the major declines have already occurred.
Subsequent construction declines in 2008 will have less of an
impact. Housing starts have fallen from their 1.5 million unit pace
in the early part of 2007 to 1.2 million in the latter part of 2007. For
2008, housing starts are projected to be 1.15 million units – weak
activity but still a rather mild decline from the final quarter of 2007.
The other components of GDP will hold on. Consumer spending
will continue to expand, albeit at a slower pace. It is difficult to
foresee a consumer spending contraction given the fundamental
improvement in household balance sheets. Compared to two
years ago, salary payments to workers have increased by $700
billion, four million additional net new jobs have been added, and
household net worth has risen by $8 trillion – principally from a
rising stock market. Wealth in homes has declined by $200 billion
in the past year due to the lower home prices (on average). On a
net average though, if you add up the above figures, households
are in better financial condition. Consumer spending will not con-
tract.
Business profit appears to have topped out in the past two quar-
ters. However, business spending will advance at a respectable
pace because aggregate corporate profits are considerably higher
now compared to just two years ago. Government spending
nearly always rises. Net exports also look favorable given the
weakness in the U.S. dollar. Foreign purchases of U.S. products
will remain strong because U.S. products are competitively priced.
Eye on the Fed
All in all, we will easily escape recession – despite the anticipated
screaming headlines of impending doom. The GDP reading for
each of the successive quarters in 2008 will be positive: 2.2 per-
cent in the first quarter, 2.6 percent in the second quarter, 3.0
percent in the third quarter, and 3.1 percent in the fourth. Job
gains also will continue into 2008.
But even a temporary contraction in GDP has some benefits. De-
spite a relatively high inflation reading in November (0.8%),
weaker GDP growth will hold back inflationary pressure in 2008. It
is likely we’ll see another rate cut by the Federal Reserve. The
Fed Funds rate will fall by another quarter point to 4.0 percent in
www.MAREInet.com ———— Investment News —————
January. Mortgage rates will hover near 6 percent – nearly com-
parable to the 45-year low rates we encountered in 2004 and
2005 during the housing boom years. Note, however, that is for
conforming mortgages and not jumbo rates. But once the econ-
omy gathers momentum, mortgage rates will tick modestly
higher.
Foreclosures and Fraud
Unfortunately, foreclosure rates will continue to rise in 2008. That
is a given due to the weak underwriting standards of past loan
originations. Subprime mortgage loss write-downs will also con-
tinue. (Write-downs are based on assumed anticipated losses
and not actual losses.) Because of inactive trading of subprime
debts, the market value of these “toxic” loans is unknowable. It is
possible that the actual losses – after tallying the figures for the
next several years – could be measurably lower. In my view, a
considerable share of the recent spikes in default rates is due to
investors walking away from their loan obligations. Fraud is also
a factor. However, homeowners will fight hard to keep their
homes, so the assumed rise in default rates based on a simple
extrapolation of recent figures may not be accurate. Investors/
speculators and fraudulent loans will have defaulted quickly,
thereby leaving fewer in the potential default pool at a later
stage.
Recent mortgage originations are much less problematic. We are
back to the basics of sound underwriting. Nonetheless, past
weak lending standards will mean higher foreclosures well into
2008. Therefore, it is critical for homebuilders to sharply cut back
production so as to not add to the already high inventory.
As always, we go back to our mantra: All real estate is local.
There are wide variations with no one neighborhood trend look-
ing like another. Some areas will see housing activity and prices
moving up and some moving down. Local real estate profession-
als are critical in properly ascertaining local market conditions. In
the aggregate, the national home sales and home prices will be
very similar in 2008 as in 2007.
Copyright National Association of REALTORS®, Reprinted from
REALTOR.org with permission.
Page 3
 General Meeting - January 8th, 2008

Effective Landlording in 2008

Too many people learn the no money down concepts and other fancy acquisition techniques for acquiring properties and
then fall flat on their faces because they have no idea how to control the tenant. Before they know it, the tenants are con-
trolling them by not paying the rent. Positively cash flowing properties turn into negative. This can easily be avoided by
putting as much time and effort into learning good property management skills as well as the time spent learning creative
ways to buy and rehab property.

We have talked about financing options, short sales, subject to, buying REO properties and fraud in the past year and in
2008 we want to start the year off by giving you a little guidance on how to manage all those properties that you have
acquired. We have heard that the average life span of a landlord is about three years – but they don’t die, they just give
up because they didn’t know what they were doing. MAREI wants to help you get a good foundation for successfully
managing your short and long term hold properties in this time of opportunity. We have invited Dawn Zachgo the Presi-
dent of Landlords of Eastern Jackson County, for an introductory presentation to being an effective landlord.

See more local landlord resources on the MAREI web site.

Join us at the Overland Park Marriott on Tuesday January,

8th 2008.
6:00 to 7:15 pm Networking & Vendor Expo
7:00 to 7:10 pm New Member Orientation
7:15 to 7:20 pm Announcements
7:20 to 7:30 pm 30 Second Deals
7:30 to 9:00 pm Presentation and Questions and Answers.

Please see www.MAREInet.com and click on General Meet-

ing for exact addresses, more information and to check on
scheduling changes due to weather.

Dawn Zachgo
President
Vendor Expo: At every general meeting we have tables that Landlords of Eastern Jackson County
our vendor’s can reserve to share their product or service with www.Landlords-of-ejc.com
our members. We generally see between 100 and 130 people 816-461-0115
at these meetings and they include new and experienced in- mdzachgo@msn.com
vestors who may need what you have to offer today or may
need you in the future. Take this opportunity to create a posi-
tive impression by visiting with members and visitors about real estate and how you can help our members in their real
estate business. Full and Half Tables for either Member’s or Non-Member’s can be reserved by going to
www.MAREInet.com and clicking on Calendar of Events. Select the appropriate deadline and reserve your table today.
For our Silver and Platinum Members, please email us at info@MAREInet.com to reserve your tables, remember they
are first come, first served, so reserve your’s today!.

Who should reserve a vendor table: Lenders, Realtors, Contractors, Insurance Providers, Property Managers, Whole-
salers, Private Lenders, Real Estate Attorneys, Accountants, Appraisers, Tenant Screening Services, or anyone with
property for sale or a service to provide to real estate business owners.

Member’s be sure to visit with all of our Vendors at each meeting to see what they have to offer. They specialize in
products and services that many area investors need. They just may have something you have been looking for or may
have something to offer that you may need next week, next month, or next year. Take the time now to get to know them
now so you don’t have to scramble to learn more about them at the last minute.

Sponsorship: If you would like more exposure than the standard vendor table, sponsor a meeting. Sponsors will re-
ceive a vendor table at the meeting, 10 minutes to speak at the beginning of the meeting, Announcement here in the
newsletter that you are the sponsor as well as an announcement on the web site. Plus all sponsors are allowed to place
marketing materials on the chairs through out the room. If you would like to learn more about sponsorship, please email
us at info@MAREInet.com or call 816-523-4400.

Page 4 ———— Investment News ————— www.MAREInet.com

 Service Guide
Advertising Supplement

w/ Mem
bers
hip Emmie Shaw
816-931-7353
Fast Hard Money Loans!
ard
unt C sw7526@sherwin.com
ber Disco Financing for your Single Family Residence Investment Properties
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816-352-7638
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√ Interest Only Payments
√ No Pre-Payment Penalties
Brandon Perkins √ No Interest on Repair Money
913-744-6768
swrep6302@sherwin.com (until drawn)
www.investwell.com/MAREI
www.Sherwin-Williams.com 1.888.497.3239

Beth Langston Heartland Complete

Home Inspections
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rs
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for MA
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www.MAREInet.com ———— Investment News ————— Page 5

Newsletter & Service Guide
Our monthly newsletter is the Investment News. All of our MAREI Business members receive a Business Card ad or a monthly $25
credit for a larger ad. The Investment News is currently mailed out in paper version to approximately 320 addresses and handed
out at our monthly meetings. We also post our newsletter archives on our web site for any new members or guest to read past arti-
cles. Or write an article to be included in our newsletter that will showcase your expertise. We will include your contact information
at the end of the article. Cost is currently just $100 for a one page article in the newsletter and posted on the web site.

Accurate Title Company, LLC Own Your Own Vacation Townhome

Ron Kraft
Title, Closing, & Escrow Services
7011 W 121st St, Ste 100, Overland Park, KS 66209
Jackie White / 913-338-0100 / Fax 913-338-0107
4025 NE Lakewood Way, Suite 100, Lee’s Summit, MO 64064
Stacy Parton / 816-795-5577 / Fax 816-795-5579
www.AccurateTitleCo.com
7 Miles from the Maingate of Disney
MAREI Members
24 month lease back guarantee
Two Units for the Price of One
Units Starting from the $290’s
Call 863-424-0130
www.biminibayresortandspa.com

Asset Protection Insurance Agency

Investor Owned Insurance
• Vacant or Occupied Properties
• Properties Being Rehabbed
• Hazard & Liability Insurance
Tile and Stone Direct to the Public
• Entire Portfolio Under One Policy
-- at Wholesale Prices!
• Monthly Premium Notice
• Fast Quotes
• Professional, Courteous & Knowledgeable Staff
Call Randy Deutch
www.TileandStoneWarehouse.com
APIA, Inc. 877-752-2742 www.reoins.com 9821 W 67th St : Merriam KS : 913-432-7900
Dedicated to Excellent Service

Page 6 ———— Investment News ————— www.MAREInet.com

 MENTORSHIP PROGRAM
REAL ESTATE INVESTING
WE GUIDE YOU EVERY STEP OF THE WAY
♦ We mentor new investors and teach you no money down
investment strategies and techniques.
♦ How to locate your property at 20% to 40% of value
♦ Take you step by step through Subject to / Rehab process
♦ The basics in Renting and Contact for Deed Tenancy
♦ Help you with your Purchase, Financing, and
Rehab of your investments
LIMITED SPOTS AVAILABLE - MUST QUALIFY
620 mid-score - 2 year W-2 tax return—6k min. in assets
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WE OFFER OUR REAL ESTATE NETWORK TO YOU

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WE LOOK FORWARD TO HELPING YOU WITH YOUR FUTURE

FINANCIAL SUCCESS
816-453-5532 OR 816-456-1843
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GRACE REAL ESTATE COMPANY LLC 5545 NORTH OAK TRAFFICWAY #1

REHAB LOAN COMPANY

HELPING INVESTORS GET THE MONEY
√ Commercial & Blanket Loans
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Call With Your Scenarios and for Qualifications.

Quick Closings, Good Service, Good Rates!
Pat Grace 816.453.5532 or 816.456.1843

www.MAREInet.com
———— Investment News ————— Page 7
Vendor Expo
Each of our General Meetings feature about an hour trade show before the presentation. Please arrive around 6 pm to visit with all
of our vendors who have reserved tables. If you would like to have a table at the meeting or would be interested in sponsoring a
meeting, please visit the calendar on the MAREI web site for more information. Vendor Tables are $35 for members and $75 for
non members or sponsor the entire meeting. Call us about a table at the Holiday Networking Meeting in December—no speaker, all
networking! (special Pricing for the Holiday Event)

Tucker One Properties, Inc. FREE LEGAL CONSULTATION*

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115 E. Gregory Phone: 816-523-4400 Real Estate Law and Estate Planning
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David R. Nachman
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Property Specialist 816-474-4114
Cell: 816.507.4203
Email: jrprops@yahoo.com * 15 minute consultation

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Page 8 ———— Investment News ————— www.MAREInet.com

 Does a Down Market Mean
You Need to Downsize Too?
can work together. Can they send referrals to you if you send
by Gayle Buske
referrals to them? Which of the plumbers can send you the most
Let’s just say it – the real estate market is down and the mortgage referrals? Then start setting up partnerships with these folks.
industry is, well, a smidge messy right now. It’s no secret. The
Co-Advertising.
question is how to survive during a poorly performing market.
Are there complementary companies (such as the ones you
What do most companies cut first when things start to slide? If you
found while seeking partnerships) whom you can work with to
answered “marketing” or “staff” you nailed it.
create and implement advertising pieces? Advertise both of your
Why is that though? It’s human nature to cut the “extras” when services in the same ad and cut advertising costs?
business is rough. Marketing is usually out the window first be-
Teleseminars.
cause the bills are typically huge. Followed shortly by staff mem-
Check your contacts both locally and nationally – if you can be
bers that may be dead weight or not as good as they should be.
creative enough about your presentation topic, you can come up
And quite often, especially for small businesses, the owners de-
with dozens of things to discuss that others would like to hear
cide there’s a lot more they can pick up and work on; things that
about. Solicit your contacts for speaking engagements on tele-
the assistant used to do. There are a couple of great lessons
seminars and plug your wares while you’re there. If you can’t get
here. There’s downsizing and there’s taking yourself out of the
onto someone else’s teleseminar, do your own. They’re very
market.
inexpensive to produce (check out www.freeconferencecall.com)
Let’s first explore the idea of cutting off your marketing efforts in and you can invite your market area to the teleseminar to share
this down market. If you chuck your marketing, doesn’t that just some great bit of information. You’ll be the first person they turn
cut off your nose to spite your face? A down market is precisely to when they’re ready to buy. Try a teleseminar on “improving the
when you need marketing. If not for your marketing efforts, how curb appeal of your home to get it sold more quickly” and I’ll bet
will those few buyers in the market know about you when they’re you’ll have local sellers flocking to listen to you talk. Try “getting
ready? Maybe it’s time to look at some old fashioned guerrilla the biggest bang for your buck in a buyer’s market” and the buy-
marketing tactics and free marketing. Yes, I said free. Of course ers will be knocking down your doors. Be sure to grab their con-
we all need to spend some marketing dollars from time to time but tact information so you can use them as leads!
what happened to all of the great free opportunities out there?
Radio and TV.
Let’s explore some of them.
Even local real estate companies and agents can position them-
Article submissions. selves as experts in their field with the local media. Send them
One of the greatest things about the ‘net is that you can almost your press releases, your articles, your information. Keep work-
instantly become the expert in your market/community/area by ing to land a spot or two on the local news and you gain immedi-
writing and submitting articles. A quick search on the ‘net will un- ate credibility and recognition in your market.
earth dozens upon dozens of places to post your articles. Of
Podcasts.
course, that’s what I’m doing right here – writing an article which
Podcasts can work similarly to teleseminars in that you can so-
my virtual assistant will post to as many free article submission
licit to be a guest on others’ podcasts. However, you can also put
sites as she can find. What does this do? It positions me as an
up your own podcasts. Again, cheap, easy, and great lead gen-
expert. It sends links back to our company web site (thus increas-
erators. Check out www.talkshoe.com, which is a great, free pod-
ing search engine rankings). It tells people we exist. It drives traf-
casting site. Share similar information and think about topics
fic (and hopefully customers) to our web site. It keeps our market-
similar to those we discussed for teleseminars.
ing alive and fresh. AND – it doesn’t cost any more than my time
to write the article and my virtual assistant’s time to post. Cheap! These are just a few ideas for free (or almost) marketing that you
can do even during a good market. But especially in times like
Blogging.
these, you can focus on free and cheap marketing tactics without
Wow, what a beautiful thing blogging is. Similarly to article sub-
spiting your face. Be creative and I’ll bet you can think of dozens
missions, blogging gives you a voice, makes you an expert, sends
of others.
links back to your web site, and allows you to engage in conversa-
tions with potential customers. Another quick search on the ‘net
will unveil a hoard of free blogging sites.
Partnerships.
In a down market, aligning yourself with complementary compa-
nies that can funnel business your way becomes paramount. Do
me a favor; sit down and think of the products and services that
compliment your business. Don’t look for specific companies just
yet. Look for the kinds of products and services. Maybe they’re
roofers (who may know that someone really needs to sell), maybe
plumbers (who may also know who needs to sell or someone
looking to buy), lenders, banks, and so on. Once you have this list
together, find all of the companies who fit each category. In other
words, find all of the plumbers in the area, all of the roofers, etc.
Once you’ve got that list together, call them up and see how you (Continued on page 10)

www.MAREInet.com ———— Investment News ————— Page 9

(Continued from page 1) Landlord Licensing
Applications should be available in late December. You can obtain
an application at that time by writing, faxing or sending an e-mail
message to the Neighborhood Preservation Division.
Address – 4900 Swope Parkway, Kansas City, MO 64130
Fax – (816) 513-9090
Telephone – (816) 513-9010
E-mail address – neighborhood_preservation@kcmo.org
You will also be able to download an application online starting
Jan. 1, 2008.
Can I register online?
Yes, you will be able to register online starting Jan. 1, 2008.
Is there a deadline for registration?
Yes, a completed registration application must be submitted no
later than Jan. 31, 2008 in order to avoid a $50 fine. The penalty
increases by $50 each month (or portion thereof) that registration
does not occur.
Is there a registration fee?
No, there is no registration fee.
What is the expiration date of the registration?
All registrations will expire annually on Dec. 31. Applications for
renewal will be accepted beginning Jan. 1 of every year.
Will I have to fill out the entire registration application every
year even if there is no change in any of my information?
No. You will have to submit an application but it will only be nec-
essary for you to check a renewal box indicating that none of the
information has changed.
If I sell the property, does the registration transfer?
No. If you sell the property you must notify the Neighborhood
Preservation Division of the name and address of the buyer within
30 days of closing. The new owner will then have to apply for reg-
istration.
Is an inspection of my property required?
No, only properties that are located in designated target neighbor-
hoods will be inspected under the program. These neighborhoods
have not been identified yet and inspections will not begin until
May 1, 2008.
What will the inspection cover?
Code enforcement officers will check to ensure compliance with
the City's nuisance and property maintenance codes (Chapters 48
and 56 of the City code). These are minimum standards set to
preserve the health, safety and general welfare of the public.
Is there a fee for the inspection?
No, there is no inspection fee. However, if violations of the code
(s) are found and you do not correct them within the time period
permitted, you will be issued an administrative citation fine.
Will the interior of my rental units be inspected?
Only units vacant at the time of the inspection will receive interior
inspections. The rest of the inspection will focus on the exterior
and grounds of the building(s).
When an inspection is conducted, does the owner have to be
present?
No, the owner or manager does not have to be present unless
there is a vacant unit that requires an interior inspection. In such
an instance, access to the vacant unit will have to be provided.
However, we encourage owners or their representatives to be
present at the inspection in order to understand what repairs
might be required.
What happens if the property does not pass inspection?
Page 10 ———— Investment
If the property fails inspection, correction work will be required. In
most cases, owners will be given 30 days to complete repairs on
the building, which is the standard amount of time allowed for all
violations to be corrected without incurring a fine.
Do owner-occupied properties in the target areas have to go
through the same inspection process?
Yes, owner-occupied units will receive an exterior inspection in
order to ensure that all properties in the neighborhood meet mini-
mum exterior standards.
When my unit(s) has been inspected and approved, will I be
notified?
Yes, when your unit has passed inspection and any outstanding
debts to the City have been paid, you will receive a certificate of
inspection.
When will the next inspection of my property occur?
The certificate of inspection will have an expiration date indicated
on it. It will be either two, three or four years from the date of the
initial inspection depending on the condition of the unit and how
timely violations were corrected. Your next inspection must occur
prior to that expiration date.
To read the full registration requirements on ordinance number
071046 please visit www.kcmo.org. Also posted in full in the
MAREI library under landlording (member’s only section)
A printable copy of the registration is available online at
www.kcmo.org or by visiting the member’s only library at
www.MAREInet.com.
We have an email confirmation from Daniel Schmelzinger that
vacant units that are not being offered for rental do not need to be
registered.
(Continued from page 9) Downmarket
Firing your staff.
They’re always the next to go after marketing. Sure, getting rid of
dead, useless weight is always a good idea – even when you’re
prospering. But during lean times you need to be sure that you’re
getting what you pay for from the help. What disturbs me, how-
ever, are comments I’ve heard recently like “hired help is a luxury
we cannot afford right now” and “well, I’ll just do a little less selling
and take over the administrative functions again” and then there’s
“I was an assistant once, I can surely do it again and save a few
bucks.” Wrong, wrong, all wrong! I’ll tell you why.
The best place for you during lean times is out in front of clients
and making money – not setting up drip campaigns in the mailing
software and directing phone calls. And how can you set up all of
those referral partnerships if you’re preparing post cards for mail-
ings?
So do get rid of those who aren’t helping your business – that’s
good advice even in the best of times. But keep those who are
producing for you and who are making your job (selling and get-
ting in front of partners) possible.
What about hiring a virtual assistant? Bricks and mortar produces
huge wastes just by its nature: you pay for time you don’t use,
you spend more on gasoline, as does your assistant, you pay rent
(or a mortgage), you heat the place, and you electrify it, and so
on. Have you considered going virtual? Believe me, it can be
done. We were once a bricks and mortar business in a previous
enterprise. But after going virtual, we’d never go back. Think
about it: you only pay for what you use, you don’t pay rent, you
don’t have to heat the office, you don’t have to provide desks and
(Continued on page 11)
www.MAREInet.com
(Continued from page 10) Downmarket
computers. You save tons!
One of our virtual staffing clients, Jo Ellen Nash, recently said:
“Having virtual assistants handle the majority of my administrative
paperwork (and me!) has cut over $100,000 from my payroll and
given me better skills and talents, better accountability, better or-
ganization and better stability in working from two locations, now
in Vail, Colorado AND (as of April this year) Naples, Florida!”
Check it out – you can downsize without downsizing how much
your company accomplishes. If you need to downsize, do it
smartly – keep the staff that’s working well and replace the others
with virtual assistants.
As this down market cycles through and works itself out, please,
don’t let your marketing fall to the wayside and don’t downsize
what your company accomplishes! Just go about it a little differ-
ently.
Gayle Buske is the founder, President and CEO of Team Double-
Click – the country’s foremost virtual staffing agency. Team Dou-
ble-Click provides top-notch virtual office assistants and real es-
tate virtual assistants for small and home-based businesses.
Team Double-Click offers its clients cost-effective solutions to
inflexible bricks-and-mortar staffing by staffing virtually.
Real estate pioneer, Michael Russer, recently stated, "When you
do something outside of your core competency, you're paying top
dollar for amateur results." Real estate executives are heeding the
expert’s warning. Given that more than 75 percent of Team Dou-
ble-Click’s clientele is comprised of real estate professionals, it is
clear that businesses see virtual outsourcing as a top priority in
order to grow their business and free up their time.
Buske and her co-founder, husband and life partner, Jim, believe
so deeply in the virtual-working concept that they have built the
company to be 100% virtual. Not only does the company provide
virtual assistant services to clients, it utilizes virtual assistant ser-
vices itself. With client services representatives, contractor ser-
vices representatives, sales associates and coordinators, as well
as virtual assistants scattered throughout the United States and
abroad, the company has maintained 100% “virtuality.”
Her entrepreneurial endeavors include owning and operating a
trucking company and brokerage with her husband, where the pair
drove the company to unprecedented levels of growth. After de-
ciding that the trucking industry did not suit either of them very
well, Buske centered her focus on how the communications power
of the Internet could facilitate a business connection between cli-
ents with contractors from across the globe. The evolving result of
this vision, Team Double-Click, has brought together thousands of
clients and virtual, contracted administrative assistants in a mutu-
ally profitable and highly efficient relationship.
When she is not busy personifying Winston Churchill’s motto:
Never give in! Never give in! Never, never, never, never - in noth-
ing great or small, large or petty - never give in except to convic-
tions of honor and good sense, the former Army reservist enjoys
spending her free time with her husband, business and life part-
ner, Jim, their daughter Madison, reading, hiking, flower garden-
ing, practicing Yoga, and playing with her three dogs and three
cats.
Read more articles from Team Double-Click visit MAREI’s library
and to learn more about Team Double-Click visit the Vendor Page
at www.MAREInet.com and look under virtual assistants.
www.MAREInet.com ———— Investment News —————
MAREInet.com
New on the Library:
♦ Updated purchase and sale agreements
♦ Landlord Licensing Information
♦ Section 8 Information: Booklets, Articles, Require-
ments, Inspections, Mold, Lead
♦ Sample BPO Forms
♦ Updated Member List
Do you have anything you would like to share with fellow
members? Articles that you have written, contracts and
forms you use, booklets and ebooks, etc. Anything you
would like to share that would benefit other members,
please email them to info@MAREInet.com and we will
include in the library.
Update Your Member Profile
All members, be sure to visit the web site today and click
on “My Info” and make sure your profile is displayed,
check the boxes of contact information you want dis-
played, add your bio and photo. This is the perfect place
for members to get in contact with each other and to let
each other know what you do.
Message Board
All members, be sure to log in this week and post a ques-
tion or an answer on the Member’s Only Message Board.
By getting involved on the message board, you will meet
more people with in the group and more people will get to
know you. Share your expertise with other people and
grow your business.
Classifieds
Do you have a house for sale that would appeal to an in-
vestor? Be sure to post it on the classified page. Be sure
to include your phone number and links back to your web
site.
GURUS
This is where you can find links to the GURUs, read arti-
cles from them, perhaps listen to a teleconference with
them, and possibly purchase their materials. If you have a
speaker that you would like to see us invite to MAREI or
interview and include on the GURU page, please email us
with their information. If you would like to purchase their
training materials, please let us know, sometimes we can
get a discount or ask them to speak at an event or tele-
conference and then they will offer our members a dis-
count. Let us work for you to save you some money!
Page 11
 PRESORT STANDARD
Mid-America Association US POSTAGE PAID
SHAWNEE MISSION KS
Of Real Estate Investors PERMIT NO. 185

Building Networks for Success!

115 E Gregory Boulevard, Suite B

Kansas City, MO 64114

Info Line: 816-374-5885

Business Office: 816-523-4400
Email: info@MAREInet.com

NEW AT THE MAREI BOOKSTORE General Meeting

Effective Tenant Management
Two must have books for every landlord’s
resource library: The Landlord’s Sur- W/ Dawn Zachgo from
vival Guide and the Landlord’s Kit. Pur- Landlords of EJC
chase both through the MAREI Bookstore
for about $13 each. The Survival Guide Overland Park Marriott
has excellent tips for all investors to fill 10800 Metcalf
your rentals with good Just south of I435
tenants, keep them
longer, and earn more profit from each. Tuesday January 8, 2008
The Kit provides you with all the sample
forms that a landlord will need to operate
their rental business. These books are Registration, Networking, and Vendor
from Mr. Landlord, Jeffrey Taylor. A fa-
vorite speaker at several of our events.

For everyone wanting to get their feet wet in

Lease Options and Subject To deals, one of
the best places to start would be with this
paperback from Wendy Patton.

One of the best resources for real estate investors is the

MAREI bookstore. Each month we will feature several
books that are available that will either offer training or mo-
tivation for the real estate investor. To visit the MAREI
Bookstore, go to www.MAREInet.com and click on Book-
store. Be sure to check out the other books featured on the For more information
page.
www.MAREInet.com
Make it a goal to read one new book each month in 2008!