Snohomish County Apartment Operators Association

April Newsletter

April 2012 Gazette Please note meeting location change!!  We were not able to revise our publication before it went to print.

April 11, 2012 – Essential Tools for Real Estate Professionals

The Real Estate IRA:  AN ESSENTIAL TOOL FOR REAL ESTATE PROFESSIONALS AND INVESTORS REALTORS AND INVESTORS: Learn how to use Real Estate IRA’s to tap into the trillions of dollars now held by Wall Street and put those funds to work in local real estate opportunities. Generate more Commissions Realize Tax-Advantaged Income Maximize Asset Protection Access Foreclosure Properties “Taking Wall Street  Back to My Street®“   Join us for this comprehensive 4-HR Continuing Education Course and invite your investor clients to attend with you. Date of Event:    April 11th, 2012 Time: 1:00 pm – 5:00 pm Location: Bellevue Community College Campus Cost: $35 per attendee (Complimentary Lunch) Register: CLICK HERE TO REGISTER Speakers:   Mark E. Hodges, ESQ. Since 1985, Mark E. Hodges has served the Puget Sound Region as a real estate and 1031 Exchange lawyer. His professional pursuits concentrate on helping clients maximize tax advantages, minimize exposure to personal liability and optimize investment returns. In 2003, Mr. Hodges launched RealTrust IRA Alternatives, LLC, a “Fully” Self-Directed IRA & 401(k) Custodian and Administrator specializing in facilitating IRA and 401(k) investments in real estate and other “alternative” assets. Throughout his career, Mark has authored many articles and taught innumerable law-oriented continuing education courses for various professionals through his state-accredited “Real Estate Law School®”. Christopher Hall, Owner, Vestus Christopher is the founder and co-owner of VESTUS (MLS for foreclosures) which educates people on how to buy foreclosures. He has been licensed with Windermere for almost 20 years and has worked in nearly every aspect of real estate. Christopher is also a public speaker and available to host or educate at most functions. He has recently toured on a series with Dino Rossi, John Curly, Mark Hodges, ESQ, Jeff Crosby financial advisor, and Steven Marshall, partner at Cobalt, to do conferences on investment in real estate.

 

RealTrust IRA Alternatives, LLC 800 Bellevue Way NE, Suite 400 Bellevue, Washington 98004

Attention Site Users

You need to have an active membership to access our member pages and forms.  If you have a log-on and your password has changed, you need to contact SCAOA to verify your membership.  Thank you.

General Membership Meeting for March

Limited Liability Companies - Is an LLC right for your Rental(s)?  What are the Pros and Cons regarding LLC’s for Landlords.  Is forming an LLC right for your rental situation, and what are the legal (and tax) implications.  If you own multiple properties, can you or should you have more than one LLC? 

Speaker:   Jamie Jensen, member & Attorney with Mukilteo Law Office

Where:     Shawn O’Donnell’s, 122—128th Street SE, Everett (Across from Holiday Inn)

When:      Wednesday, March 21, 2012

6:00 pm—Social Networking
6:30 pm—Buffet Dinner (Please RSVP as we need a headcount)
7:00 pm—Start Program

Cost:    $25/$35 Dinner  (Member/Non-Member)     $30/$40 Late reservations or Walk-In

$10/$15 Program Only (Member/Non-Member)  Walk-ins Welcome!

RSVP BY THE MONDAY BEFORE THE EVENT FOR BEST RATE
CALL (425)353-6929 – We’ll save you a seat - don’t delay, call today!

Check, Cash or Credit Card
No Host Bar

March 2012 Gazette

March 2012 Gazette Bayside Flyer

The Real Estate IRA Course – February 29, 2012

The Real Estate IRA:  AN ESSENTIAL TOOL FOR REAL ESTATE PROFESSIONALS AND INVESTORS REALTORS AND INVESTORS: Learn how to use Real Estate IRA’s  to tap into the trillions of dollars now held by Wall Street and put those funds to work in local real estate opportunities. Generate more Commissions Realize Tax-Advantaged Income Maximize Asset Protection Access Foreclosure Properties “Taking Wall Street  Back to My Street®“   Join us for this comprehensive 4-HR Continuing Education Course and invite your investor clients to attend with you. Date of Event:   February 29th, 2012 Time:    1:00 pm – 5:00 pm Location:   Bellevue College Campus Cost:   $35 per attendee (Complimentary Lunch) Register:   CLICK HERE TO REGISTER Speakers:   Mark E. Hodges, ESQ.   Since 1985, Mark E. Hodges has served the Puget Sound  Region as a real estate and 1031 Exchange lawyer. His professional  pursuits concentrate on helping clients maximize tax advantages, minimize exposure to personal liability and optimize investment returns. In 2003, Mr.  Hodges launched RealTrust IRA Alternatives, LLC, a “Fully”  Self-Directed IRA & 401(k) Custodian and Administrator specializing in  facilitating IRA and 401(k) investments in real estate and other  “alternative” assets. Throughout his career, Mark has authored many articles and taught  innumerable law-oriented continuing education courses for  various professionals through his state-accredited “Real Estate Law  School®”.  Christopher Hall, Owner, Vestus Christopher is the founder and co-owner  of VESTUS (MLS for foreclosures)  which educates people on how to  buy foreclosures. He has been licensed with Windermere for almost 20 years  and has worked in nearly every aspect of real estate. Christopher is also a public speaker and available to host or educate at most functions. He has  recently toured on a series with Dino Rossi, John Curly, Mark Hodges, ESQ,  Jeff Crosby financial advisor, and Steven Marshall, partner at Cobalt, to do conferences on  investment in real estate.

 

Tenant Screening Workshop

Educational Workshops Presented by Coast Real Estate Services and SCAOA Tom Hoban, principal of Coast Real Estate Services and SCAOA are proud to announce upcoming Educational Workshops through 2012.  These Workshops will be held at Coast Real Estate Services at their headquarters on Rucker Ave and will be 2 hours long with between 6-12 attendees [...]

February 2012 Gazette

February 2012 Gazette

Legislative Day

Please Oppose -

HB 2563: Establishing a state tax on capital gains, affects commercial and residential rental properties. It does not allow for tax-deferred exchanges as under federal law. With $23 billion in annual income and who knows the market values of our properties, property owners are the source for “new revenues.”

HB 2564:  Unlawful Detainers  and evictions are synonymous.  Often a landlord seeks to terminate tenancy
because either a tenant defaults in rent or fails to comply with the terms of the lease/rental agreement.  The landlord
will try to work with the tenant to resolve the issue before beginning the eviction process, as evictions are costly.  An average eviction may cost $800, not including the lost rent revenue and time.

Not all unlawful detainers become eviction records because the landlord stops the process once a tenant moves out.   Most landlords do consider the unlawful detainer filings of an applicant and inquire at the application process.  Just as a mortgage lender would question your financial worthiness before approving a loan, certain considerations are made during the
application process.

Access to Protection Order Court Records

Denying access to public records does not set a good precedent.  It is important that laws are careful to balance the public’s longstanding right to access public information.  Domestic Violence, sexual assault and or stalking records are impacted.  In a
civil case the court, any party may request a hearing to seal or redact the court records.  Privacy of victim’s records should always be a consideration; however, access to public records should be allowed.

 HB 2642 and SB 6315:  Tenant Screening

Washington State legislators are attempting to create a definition for tenant screening or screening service which is different than what is already regulated by Federal and current State law. Both Federal and State law definitions of consumer reports and consumer reporting agencies include all the activities a screening service would provide when providing a tenant screening report and were designed to protect the consumer. The definitions in SB 6315 are inadequate and do not address past rental history and employment verification.

Consumer report information varies from the different screening agencies and credit bureaus.  Some reports are
very basic while others supply an actual credit bureau report with information including previous addresses, social security number verification, fraud alerts, etc.  The landlord/manager decides which company provides the best information relevant to make an informed decision.

Do not support portable reports. A consumer report must be current and up-to-date.  Information on the consumer report can change daily and sometimes hourly. A portable report is unable to meet that need.

Housing providers are willing to provide applicants with the screening criteria (Resident Acceptance Policies) they use when reviewing a consumer report.  Landlords are also required to provide the applicant with information as to why they are denied tenancy and the specific reasons for the decision that came from a consumer report (Adverse Action Letter)

January Meeting Schedule Change

Due to the impending snow, our Wednesday meeting on the 18th has been postponed.  We look forward to the presentation February 15.  See meeting details below.

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