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District REIA Grand Opening | International Residential Real Estate Investors Association
Monday January 22nd 2018

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District REIA Grand Opening

The District REIA’s grand opening was a big success.  The facility was full to capacity.  The discussion revolved around access to hard money, fundamentals of the deal, acquiring and holding cash flowing projects, the current lending environment, tax and accounting considerations, self directed retirement accounts, the value of becoming a licensed agent, and IRREIA’s value to investors.

A key  recommendation from the  meeting I recommend investors remember is speak to your attorney and accounting prior, during and after closing.  Immediate conversations aren’t likely  to be billed and you can determine the right time to use their billed services.

On the buy and hold front, we heard a success story, but with the caveat that bad things happen.  In fact, Bill’s first purchase had a renter who was 90 days in arears and owed a $5,000 water bill.  He salvaged the situation and kept the tenant for 12 years.

A recurring theme was investment intent.  Investors should not buy projects without a clear purpose in mind.  Additionally, intent is a major factor that may impact your tax position later.  A clearly defined intent may determine how you deal with the IRS later.

There were many  topics, but these are a few highlights from the session.

“The IRREIA - Making residential real estate investing more fun and rewarding
through better education, tools, information, and networking!”


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