April 24, 2008

Thursday, 6:00 p.m. doors open

TOPIC: All Aspects of Insurance for the RE Investor: Including Residential & Commercial Property + Business and Personal Liability

Speaker: Streeter Bros Panel - Linda Schmaing and Shaunna Kemm



March 27, 2008

Thursday, 6:00 p.m. doors open

TOPIC: Answers to questions presented by BRIC Members

Dave Wass, Appraiser & Appraisal Instructor
AQB Certified USPAP Instructor

     David's presentation was excellent. Members walked away understanding the role of an appraiser and the methods they use to estimate value. Dave also gave us some minor insight into what is and isn't flipping. Buying a house, improving it and reselling it for a profit does not fit the definition of "flipping" in fraud terms. This supports the notion that the best terms to describe this practice include "rehabber" and "quick turn."
     Sometimes referred to in Billings as "The Appraisal God," David has 29 years experience including authoring/preparation of forms & narrative reports and 20 years of specific appraisal experience specializing in narrative reporting, commercial, industrial & investment property analysis. He has served as Expert Witness at all court levels. Mr. Wass is the original founder/partner in Appraisers Canada, a multi-faceted Ontario, Canada based appraisal corporation specializing in all types of appraisal assignments and is co-founder, president & CEO of Appraisers International Inc., a multi-faceted Montana, USA based corporation specializing in all types of appraisal assignments. BRIC is very excited to bring David Wass to our membership - he is the go-to guy for appraisals in many parts of the country. We are honored to have him.


February 28, 2008

Thursday, 6:00 p.m. doors open

TOPIC: FINANCING: In-house (Portfolio) and Secondary Market Financing in Billings

Speaker: Panel: Wayne Nelson, Presdient Stockman Bank Heights Branch and Tami Pisk - Secondary Market Mortgage Department Director.

Wayne and Tami are going to bring the goods. Consider it a continuation of AJ's talk about the "right answers" to use when getting a deal funded. Wayne will talk about the commercial side of portfolio lending and Tami will talk about how and when you can use secondary market lending to accomplish your financing needs.




January 31st 2008


AJ, a BRIC member and full-time investor for over eight years shared his knowledge as a former banker with US Bank. He gave us formulas for calculating the profitability of a deal (not just cap rate - but also formulas that take financing into consideration). He gave us the banker's view of a financing request so we can better package ourselves to get deals funded. Did you know owning beneficial interest in your parents' or grandparents' estate can be listed on your balance sheet as an asset?


December 2007 - Pam Robbins, A.D. - Strictly Business Interior Design

TOPIC: Preparing a Property For Sale - Staging for quick and profitable sales.

Pam Robbins is an interior designer with over 25 years of experience. She earned her Associates Degree in Interior Design from Southwestern University in Southern California and has spent the last 10 years working in property sale preparation. Pam shared the tips and tricks designers use to make a room seem bigger, to draw the eye to an architectural focal point, to make a flaw recede into the background, to have your potential buyer walk in and say, "Wow!" She covered the upgrades you should consider as well as those to avoid for the quickest turnaround with the least expenditure. Her talk was very informative and several BRIC members asked if we can book her again next year.

November 2007

3rd Annual - Billings Market Year-End Wrap up with Howard Sumner. Howard predicted the rental market will be even stronger in 2008. The gap between the cost to own the average house and rent the average house is over $400 which will send lots more qualified renters into the market. The "slow down" in real estate does not appear to be hitting Billings in light of our steady population growth and national companies (e.g. GE, Cabela's, Macy's) bringing good paying jobs to our community. We have a continued need for more work force housing, affordable rentals, and it's a great time to be a landlord in Billings.

Howard has taken over 60 real estate education courses, published dozens of newspaper articles, and compiled one of the area's largest real estate statistical databases.His knowledge and many years of experience have earned him a reputation as one of Billings' most reliable real estate experts. Howard's peers have honored him with awards for real estate excellence including Billings' Realtor of the Year in 1995, and Salesperson of the Year in 2003.

Wyeth Friday.JPG

October 2007 - Wyeth Friday, AICP, Planning Division Manager

City of Billings Planning and Community Services Department

Wyeth Friday is the Planning Division Manager for the City of Billings Planning and Community Services Department. The Planning Division provides planning services to the City of Billings and most of Yellowstone County. He has worked for the Planning Division for four years. During his tenure, he has received his certification from the American Institute of Certified Planners, and took on the role of planning liaison to the Board of County Commissioners and County staff on planning projects in the County.

Wyeth grew up in Hamden, Connecticut, and worked as a journalist for six years in Virginia, Connecticut and Wyoming. He spent three years working for The Sheridan Press in Sheridan, Wyoming, covering planning issues. The work in Sheridan sparked his interest in planning and he completed a Master’s Degree in City and Regional Planning at Cornell University in Ithaca, NY.

Growth management and good planning are vital to the future of the Billings Community, according to Wyeth. He says he leads an excellent Planning Division staff in helping shape the Community’s future.

September 2007 - Lauri Lauri Waddell – President Dew Services LLC

BRIC was excited to be able to present Lauri Waddell in September. Lauri Waddell is a motivational speaker, an expert in short sale packaging, a 50 state certified investment mortgage broker, and an award-winning mentor. Lauri is an expert is short sales and foreclosures will be presenting a short sale package for those of you who work with loss mitigation departments. She wil also show us her financing packages that work in Montana and are specifically created for investors. This meeting has the potential to send you to the big time.

Speaker: May 31, 2007 - Andrew T. Billstein, Attorney with Brekke Hoskins, PLLC.

Topic: Business Entity Primer - The functions and differences between an LLC, LP, C Corp, S Corp, etc... including the potential positives and negatives of owning real estate in these entities as an investor/landlord in Montana. There will be an extended question and answer session at the end of his primer. Bring your questions!

Andrew was born and raised in Billings, Montana. He attended Hillsdale College in Michigan and graduated in 2000 with a BA in Political Economy. He then attended the University of Montana School of Law and graduated with a Juris Doctorate in 2003. Andrew has been an associate with Brekke & Hoskins PLLC since 2003. Andrew is a member of the State Bar of Montana and the Yellowstone Area Bar Association. He is also a member of the board of directors of the Eastern Montana Association of Affordable Housing. Andrew specializes in estate planning, business planning and real estate law. One of Andrew's specialties is in tax-exempt entities including residential and commercial development associations such as homeowner’s associations. Andrew’s e-mail address is ABillstein@BrekkeHoskinsLaw.com


April 2007

Tyler R. Elkin ty_elkin.jpg

Ty is a Senior Vice President at Yellowstone Bank in Billings. A flexible and knowledgable commercial banker, Ty is responsible for business, commercial and real estate lending at the West End YB Branch. He works with many investors and developers and will be discussing Yellowstone Bank's “in-house” real estate loan structure – specifically down payment requirements, the ability to leverage other assets, flexibility in payment terms, appraisal requirements, etc... Many seasoned investors use "in house" loans to remain flexible and competitive. See you in April!

March 29, 2007 - Rica Dombrovski - First Montana Title

Rica.bmp

Phone (406) 869-9667 Fax (406) 294-1985

Your title company is an important member of your team. Rica will be talking about the real estate process from the title standpoint. She will be presenting a new product she is working on specifically for investors -- the foreclosure report --. It's free and may be very beneficial to BRIC members who work in foreclosure, preforeclosure & short sales. Rica may bring another title officer with her. ATTN BRIC members: Feel free to bring your questions!


February 22nd, 2007

Matt & Brigid Wagner
Owners/Operators
BillingsbyOwner.com
1302 24th Street West, #252
Billings, MT 59102-3861
(406) 671-4845

BillingsByOwner.com is a locally owned and operated web service that provides excellent and affordable web advertising for people who are selling real estate on their own. Several BRIC members have successfully used BillingsbyOwner.com's service. Matt and Brigid presented their "For Sale By Owner" product to BRIC members and showed us how to use it (for those of us who struggle with computers!) They are not real estate agents. Their product is similar to the MLS but the listings are all from FSBO sellers. When a deal is tight - BillingsbyOwner can provide a viable exit strategy for investors. BRIC was pleased to feature BillingsByOwner.com in February. The members who attended gave Matt & Brigid high marks.

January 25, 2007 - Jim Adamek (E-focus & Free Rental Finder)

Jim works with his wife, Cari, in their web development business which was founded in 2001. Their passion is to provide relevant website designs for small business. In the printing business for many years, they have experience working for small businesses including one owned by Cari's father. Their expertise was in typesetting and desktop publishing. They wore many hats in this business - their duties included customer service, database programming, inventory control, accounting, shipping and receiving, quality control, employee problems (er! "relations"), etc. They know firsthand the challenges that small business owners face.

They started e-focus with a dedication to helping small businesses take advantage of the many resources that the internet provides ... truly putting the internet to work for you. They found early on that their customers wanted some degree of control over the content in their website. This might be in a photo gallery, shopping cart, or real estate listings. In recent years they've focused their attention on the rental market. They started Free Rental Finder in the summer of 2005 and have developed websites for 4 property managers in town. Their listings are fed from www.freerentalfinder.com to their own website.

Jim and Cari have learned a lot from listening to their clients and coming up with effective ways to meet their needs. You can see the property management websites they have produced at:

www.billingsrpm.com
www.profmgt.com
www.billingsarearentals.com
www.hdamanagement.com

You can view their full portfolio www.e-focus.ws

This month Jim will show you ways to utilize Free Rental Finder in your real estate investment business:
1. Market Pricing Analysis - assess rental income for various parts of Billings
2. Rental Analysis - overview of your available rentals
3. Introduce the category, "Lease with Option to Buy"


Back by popular demand!

December 28th - Thursday 6:30


Jim Pearson, CMH dad.jpg

As a Certified Mechanical Hygienist, Mr. Pearson is a specialist in Indoor Air Quality issues such as mold remediation and chemical sensitivities. Jim is a frequent presenter at national technical seminars and a speaker at international industry conventions. He is a Montana Board of Realty Regulation certified instructor on environmental issues and is ASCR's representative to the primary committee drafting S-520 the international mold remediation standard. Jim has also been instrumental in providing technical knowledge regarding state standards for clandestine meth lab remediation.

Jim will be speaking to investors about how to spot and remediate toxic mold as well as how to recognize the signs of a clandestine meth lab. The scariest ones for investors are the properties where labs have existed but the lab was never busted by the authorities. If the property is not on the "watch" list, how do you as a potential investor protector yourself?

November 30th - Thursday 6:30


Thomas Kish


Real estate guru, Thomas Kish, is an expert in using new business lines of credit to make big money in real estate. A sought after speaker and mentor, Tom teaches people from all walks of life how to duplicate his profitable real estate system. Experience the power of his system firsthand by attending the November BRIC meeting as we teleconference with this well-know name in the world of creative real estate financing. Don't be late, the online conference call begins at 6:45 p.m.


October 26 (6:30) - Howard Sumner - Billings Real Estate Expert.

Topic: Review of Billings Market Trends Heading into Fall.

Since 1982, Howard has been one of the most knowledgable agents in Billings. He has taken over 60 real estate education courses, published dozens of newspaper articles, and compiled one of the area''s largest real estate statistical databases.
Howard''s knowledge and many years of experience have earned him a reputation as one of Montana''s most reliable real estate experts. He is a "go to" guy for many real estate organizations that need or want good numbers about what's happening in Billings' real estate market.

September 28, 2006 - Great Meeting!!!

Thank you to member, Linda Schicktanz for setting up the following speaker:

Ron Moore, manager of the Tax Increment Finance District (TIFD) will speak to our group. He may bring someone from CTA along.

FROM THE TIFD WEBSITE http://www.billingstifd.com/index.cfm

The intent of TIFD use is essentially to be a vehicle for economic growth.
Public attendance is welcomed and encouraged at all/any TIFD Meetings.

The Big Sky Economic Development Authority, partnered with the City of Billings, the Downtown Billings Partnership and Celebrate Billings, is moving forward with implementing a Tax Increment Finance District (TIFD).

A unique approach will be used in the process, one in which the 'design and writing pen will be given to the public.'

With the mandates of public participation, constituency and ownership, Moore Engineering and CTA Architects Engineers have been charged with the tasks of guiding the public at large and its stakeholders through a four-step process. These steps are defined by requirements set forth in the Montana Constitution and initial tasking with a Steering Committee formed specifically for the project.

TIFD Four-Step Process

1. Define the Geographic Boundaries of the TIFD
2. Identify and Document Areas of Blight in the Formed District
3. Formulate an Urban Renewal Plan
4. Legally Adopt the TIFD and Urban Renewal Plan

(June, July, August - Summer Hiatus)

May 2006 - Networking Meeting

BRIC Meeting April 27th, 2006 Speaker:

Marlene Walter mwalter.jpg
Sales Associate
Office Phone: (406) 896-2235
Email: marlene@remax-billings.com

Topic: How Investors Can Work Effectively with Realtors.

Have you ever wondered why some investors seem to work well with Realtors and others can't get the time of day? What's the difference in approach?

Marlene has been a Realtor in Billings for 14 years. She has worked extensively with real estate investors and will share her observations and experience. The investor's questions, investing parameters, and behavior are an important part of this vital relationship. The gurus consider Realtors a necessary part of your "power team," yet many investors need to fine tune their approach to working with Realtors. Learn about what Realtors need and expect from you as well as the benefits of adding an experienced Realtor to your team.

March 30th, 2006

Speaker: Steve Tucker, American Mortgage

Topic: Financing for Investors

Steven Tucker joined the American Mortgage team in November of 2001 and manages the Billings branch office. A Montana native and outdoors enthusiast, Steve was raised in Missoula and graduated from the University of Montana in 1993. Steve has been a Billings resident since 1996 and enjoys living in the Magic City along with his wife Lynn, daughter Madison, and new son, Jaxon. With a double major in Finance and Computer Science, a residential construction background, land and multiple investment properties in the area, Steve’s expertise in investor financing will make him a real asset to BRIC members. He is a preferred lender in the Billings real estate market of many real estate agents and investors.

February 23rd 2006:Speaker: Roundtable Discussion

Subject: Sizing up a Deal - How to Run a Deal through its paces, doing due diligence, creating a checklist of things to do, prices to check, people to talk to, and make that final decision

The members examined a real deal for a BRIC member and made suggestions about possible exit strategies. Several "due diligence" issues were raised. Two investors presented current properties.

January 26th, 2006 Subject: Tax Considerations for RE Investors

Speaker: Renee Simmons, CPA

Renee talked to BRIC about the notion of "Dealer Status" and the tax ramifications of being labeled a dealer by the IRS. Renee also touched on self-directed IRAs, and self-employment tax for real estate investors.

December Meeting - postponed to January for Holiday observances.

November Meeting (Dec 1)

Speaker: Howard Sumner, Sumner Real Estate http://www.realestatemontana.com/

Howard Sumner has taken over 40 real estate education courses, published dozens of newspaper articles, and compiled one of the area's largest real estate databases. Howard's knowledge and many years of experience have earned him an excellent reputation in Billings. Chosen as Billing's Realtor of the Year in 1995, and Salesperson of the Year in 2003, BRIC is pleased to feature Howard as our November speaker.

Topic: Sales Market Trends in Billings (by neighborhood pocket)

Howard will be presenting the sales statistics of the recent Billings market and giving his analysis of where the hot & cool spots in the market are developing. He will be accepting questions and answers from investors. Don't miss it!

October 27, 2005

Speakers: Laura Odeggard, Prudential Floberg & Chris Ackerman, Wells Fargo Bank

MSU-B in partnership with Prudential Floberg Realtors presented a one hour workshop about house flipping. Chris compared typical owner-occupied residential financing with the new short term invetsment loan products (including interest-only lines-of-credit and short term ARM products) that have accompanied the rise in house flipping among investors. Highlighted were the differences between closing fees, rates and risk aversion as it applies to variable rates. Laura presented the pit-falls and potential challenges when picking the property and also what improvements are the "biggest bang for your buck."


September 29, 2005

Speaker: Jim Pearson, CMH, Member of Board of Directors (ASCR), published writer and national speaker on the topic of indoor air quality and the liability involved with improperly remediating contaminated property.

Topic: How to turn houses contaminated with asbestos, meth, & mold into Gold!

Jim gave an informative talk about what to look for when buying a suspected "mold" or "meth" house, how to properly remediate, liability issues, and gave excellent handouts.