July 2001

Member of the National Real Estate Investors Association (NaREIA)

– Continued Page 3

Dinner ($12.00) is served first-come, first served from 5:45 p.m.until 6:45 p.m. Approximately 60dinners are prepared; no reserva-tions taken. Come enjoy. Bonappetit’.

July Program

Table Topics – Take Your Pick!

• New Mobile Home Ordinance – Roy Chapman

• Getting Started with Your First Rehab – Marsha Cole

• Adding Value to Your Property – Tex Teixeira

• Fixing for Flipping or Rentals – Bill Choate

• Lease/Options – Cliff McLarty

• Health Insurance for Self-Employed – Troy McAbee, TarheelInsurance

• Mobile Homes – Lloyd Angell

• Commercial Lending – Rick Bussey, Blue Ridge Savings

• Taking Housing CO’s in Stride – Jeff Baker, City of Asheville

• Property/Liability/Renter’s Insurance – Eric Bullard, Nation-wide

• Owner Financing Techniques – Jack Hall

At this month’s CREIA monthlymeeting on July 9, we will be featur-ing Table Topics, one of our mem-bers’ favorite programs. Table Top-ic speakers have been lined up for avariety of different topics related tothe business of real estate investing.

All you have to do is review the listof speakers and topics below to getan idea ofwhat youwould liketo knowmore about.Then cometo the meet-ing, find thetable withthe matching topic placard, and takea seat. Some topics are particular fa-

vorites, so you might want to act fastto get your seat. We willhave two sessions of ap-proximately 45 minuteseach, so you will be ableto participate in two ofyour choice.

Please join us at 5:45p.m. on Monday, June11, at the Best Western

Hotel, 275 Smokey Park Highway,Asheville.

Do not delay! Call 1-800-477-1778right now to register for John Mal-try’s intensive Property Management

Workshop to be heldSaturday, July 14, atthe Cumbie Instituteof Real Estate, 1636H e n d e r s o n v i l l eRoad, Asheville.

This seminar is lim-ited to only 30 attend-ees, due to the depth

of information presented and toJohn’s desire to allow as much dis-cussion as possible.

PropertyManagementWorkshop

John Maltry

UpcomingMeetings• July 9 – CREIA Monthly Meeting,

5:45 p.m., Best Western Hotel, 275Smokey Park Hwy., Asheville. Pro-gram: Table Topics – YourChoice!”

• July 11 & 25 – Public Policy Com-mittee Meeting, Noon, Best West-ern Hotel, 275 Smokey Park Hwy,Asheville.

• July 14 – Saturday Seminar – Prop-erty Management Workshop, 8:30a.m.–2:00 p.m.: John Maltry, In-structor. Cumbie Institute, Wal-Mart Shopping Center, 1636

– Continued Page 2

Table Topics – July 9, 2001

2

President’sMessage

By David G. WorleyAs I write this I am preparing to

join five other Asheville CREIAmembers in Houston Texas for theNational REIA Leadership TrainingConference. Representing our asso-ciation are Board members JohnMaltry, Steve Cole and Bill Choate,together with Public Policy ChairWalt Plaue and our National Presi-dent, Bill Goacher.

This conference provides an op-portunity for exchanging ideas withother groups from around the coun-try. The Carolinas REIA has beensending delegates to these annualmeetings for many years now, andthe growth and quality of our groupreflect this investment in trainingand education.

While I may be prejudiced, I cantell you, with some certainty, thatour group ranks as one of the topgroups in the country.

Our programming reflects the di-versity of our investor members, ap-

Learning (And Bragging) In Houston

pealing to basic as well as advancedentrepreneurs. Vena Jones-Cox men-tioned that our newsletter was one ofthe best she has seen (and WayneKale, our editor, says it will only getbetter). The Public Policy committeeunder Walt’sleadership hasmade a sizablecontribution inadvancing ourimage withinthe communityand in voicingour concernsas investors. The subgroups are thriv-ing and we have expanded our offer-ings in this category. We appreciatethe work of director Booth Rankinsand the enthusiasm of Judy Clod-felter. They recently added a “semi-

John Maltry is CREIA’s Director ofEducation, where he has been in-strumental in greatly expanding thenumber of learning op-portunities for ourmembers.

After a managementcareer with a Fortune75 company, John de-cided to pursue real es-tate investing on a full-time basis,having enjoyed it as a hobby duringhis corporate world days. He is verymuch a hands-on property managerand investor in single-family homes,vacant land, condos, apartmentbuildings and commercial projects

in Western NC and South Florida.If you are a landlord or ever in-

tend to be a landlord, come learnfrom an expert who invests in theAsheville area. John is always on thecutting edge of knowledge in thisbusiness. The information he pre-

sents has been proven in thereal world of real estate invest-ing. You will be treated to aninteresting, dynamic discussionon how to be an effective prop-erty manager.

Cost for this special workshop isonly $49 for CREIA members and$79 for non-members, first comefirst served. You will also receive acomprehensive workbook. See theenclosed flyer for all the details. Callnow … 1-800-477-1778!

Workshop– From Page 1

nar discussion” subgroup, whichmeets only once following an ex-tended education program and had20 persons sign up for the meetingto discuss Vena’s seminar.

Bill Goacher’s Basics Class has en-joyed record numbers of studentsthe past two sessions, and the shift tomonthly educational offerings underJohn Maltry’s direction has provedquite successful.

Additionally, this fallwe will be offering achance for our membersto earn the “ProfessionalHousing Provider” desig-nation through A-B Tech,and under the directionof board member Debbie

Buckleaw. This credential will en-hance and raise the standards forhousing providers both inside andoutside our group. Our library con-tinues to grow and, according to thesurvey of members, ranks high as an

CREIA Report is publishedmonthly. Newsletter editor isWayne Kale. Articles submittedare the express opinions andcomments from various inde-pendent CREIA members andoutside sources. CREIA mem-bers are urged to submit arti-cles for publication. Deadlinefor articles to be published isthe third Monday of eachmonth. Send your article toWayne Kale, 1031 SugarloafRoad, Hendersonville, NC28792, fax it to 685-0054 orsend e-mail:wayne@ryonrecruiters.com.

CREIA Report

– Continued Page 4

3

Financial Servicesfor Real Estate Investors

• InvestmentLoans

• MortgagePurchases

• MortgageParticipations

LANGDON AMMEN • JEAN AMMEN • KATIE KING

LANGDON AMMEN

Voice (828) 285-0123 • Fax (828) 236-0123

CREIA is pleased to announce andwelcome Steve Cole as its new Directorof Programs. Steve replaces Lori Nelsonwho resigned due to other commit-ments. The Board of Directors grateful-ly acknowledges the hard work and ded-ication Lori gave to CREIA the past 2+years, and we wish her well as she andher husband Craig continue to pursue their real estateinvestment interests.

Steve and his wife Marsha have been very active CRE-IA members for some years now. Steve is a native ofAsheville, where he attended T.C. Robertson HighSchool. He then attended UNC-Wilmington where hereceived his B.S. in Business Administration. The next20 years of his career found Steve in the hospitality in-dustry, managing resorts and country clubs, primarily incoastal areas. However, he found his way back to themountains when he ran the High Hampton Inn and

Steve Cole Named New Programs DirectorCountry Club for 7 years. His last general managementposition was at Glen Cannon Country Club in Brevard.It was during that time that he and Marsha’s real estateinvesting plans began to be implemented.

Leaving the corporate world, Steve and Marsha havebeen full-time real estate investors for 6+ months now.They have enjoyed doing a variety of investments fromrehab and flip to lease/options and traditional rentals.They currently have 3 single-family rental units, and ap-proximately 16 units in apartments. They are also ex-

panding their invest-ments to Lake Norman,north of Charlotte,where they have rentalproperty and are plan-ning some commercialprojects. Steve and Mar-sha have enjoyed part-nering with other CREIAmembers as well.

We appreciate Stevetaking on the role of CREIA Program Director as this isan extremely crucial position. If you have any ideas forprograms or speakers, please call Steve at 274-8679.Hendersonville Road, Asheville. See article begin-

ning on Page 1 and the flyer inside.

• July 16 – CREIA Board Meeting, 6:00 p.m., BestWestern Hotel, 275 Smokey Park Hwy, Asheville.

• July 21 – Landlording Subgroup Meeting, 7:00 p.m.,Asheville Parks and Recreation Center, 37 EastLarchmont. Second meeting of this new subgroup!!Call Maggi or Les Saucier for info at 658-8819.

• July 24 - Advanced Investors Subgroup, 1:00 p.m.,Ryan’s, Patton Ave. Note: Beginners welcomed, too! Youcan learn a lot by listening and participating in discussionswith the advanced investors.

• July 31 – Hendersonville Subgroup Meeting, 6:30p.m., Bay Breeze Restaurant, 1830 Asheville Highway,Hendersonville. Program: Property Management, KitGarren, IPM Corp. Meets last Tuesday each month.Call Tom Boyd, 697-6716 for info.

• August 6 - New Members/Fundamentals SubgroupMeeting, 6:30 p.m., China Garden Restaurant 100Brevard Rd., Kmart Center beside Biltmore SquareMall, Asheville. Meets first Monday of each month.

• August 8 – Public Policy Committee Meeting, Noon,Best Western Hotel, 275 Smokey Park Hwy. Asheville.

.

Meetings

Steve Cole

– From Page 1

4

asset to the club. Many thanks to Ral-ph Turner and his assistant, JackNesbitt, for their hard work with thelibrary.

Judy Glicken, who was a delegateto the leadership conference twoyears ago, has led the membershipcommittee to several firsts for ourgroup: a member resource hand-book (soon to be updated), a boothat the Home Show, and solid growthin our membership.

Neal Peek, as our past president,has converted our national speakerconference into two separate confer-

ences, one held this past April andthe next one scheduled for the fall,when we will try an all-day multiplesession program where memberscan pick the classes they want to at-tend. The fall conference will con-clude with a banquet and keynotespeaker.

Many of the programs and activi-ties have come about in just the pastthree years that I have been on theboard, which underscores the dy-namics of this organization.

And it has been accomplished al-most entirely by volunteer members.Lacy Cross, our treasurer, hasworked tirelessly behind the scenes,and is present at every CREIA event

to process registrations and takemoney. He needs more help and justlast month your board voted to in-crease the paid hours (for bookkeep-ing and membership functions)from 30 per month to 80 per month.This much-needed investment instaff for our growing organizationwill yield positive returns for all ofour members.

So as we go to Houston, I can as-sure you that we will come back withfresh ideas that will keep this organi-zation thriving and providing thevery best for our members.

But the other groups there willhave to pardon us if we also do a lit-tle bragging.

Houston

By Judy ClodfelterOne of the greatest assets of our

club is the chance to network withlike-minded people. We are attempt-ing to make the networking processeasier. As you sign in at this month’smembership meeting, you will begiven a Member Profile form tocomplete. This form will allow youto identify the areas of investingwhere you are most interested.

Example: Are you interested inWholesaling, Wholesale Buying,Commercial Property, Land Devel-opment, Section 8, Mobile HomeParks, etc?

This is our chance to get to knoweach other better as real estate inves-tors. We will compile the informa-tion and make it available to themembership as soon as possible.Thank you for your cooperation.

Judy Clodfelter is a CREIA Member.

– From Page 2

CREIAMemberProfile By Walt Plaue

Public Policy CommitteeJust when our “landlord-members” thought they had heard enough

about health (and wealth) problems from lead paint gurus, the folks up atour friendly EPA in DC have come up with another issue to salivate over.It’s called Stachybotrys (What?)—otherwise known as“black mold.”

If you are a landlord and think you escaped damn-ation because your properties are all post-1978 con-struction, think again! Ironically, the presence ofblack mold is actually greater in newer buildings be-cause they tend to be more airtight, thereby trap-ping moisture and inhibiting airflow from the out-side. The proliferation of air conditioning also cre-ates condensation, which increases humidity withinthese airtight structures.

I don’t know why this “problem” has avoided media attention for so long,but I know that I have seen at least three reports on it on TV in the pastyear, plus several articles in a variety of newsletters and magazines. It seemsthat the black mold has been identified as a causative factor in some tenantillnesses, which range from mildly annoying to totally incapacitating.

To illustrate what mold can do to your financial health, the followingarticle, taken from “Professional Apartment Management” magazine, willgive you an idea of the threat:

Black Mold The Next HealthIssue To Affect Landlords?

– Continued Page 6

5

Linda BryanLoan OfficerN/O/O Up to 95% LTV

Pass Thru Programs – No/Title SeasoningSeller Assist Programs – Up to 100% CLTV

7225 Wrightsville Ave., Wilmington NC, 28403(910) 256-8633

Linda Bryan (828) 253-0917

Investor Programs

When you check in at the membership desk at our July 9monthly meeting, be sure to pick up the four-page hand-out on CREIA’s and A-B Tech’s Professional Housing Pro-vider Certification Program, which begins September 13 andruns for 10 weeks through November 15. Classes will be held at the A-B Techcampus each Thursday from 6:00 to 9:00 p.m.

Debbie Bucklaew, CREIA member and Director of Professional Certifica-tion, headed up the task force that designed this certification course for land-lords. Cost is only $55. Those completing the course will receive their offi-cial PHP designation and can use the logo in their advertising and for pro-fessional recognition purposes. And, of course, the information learned willdefinitely help you become a much more effective and professional propertymanager.

Pick up your PHP information packet this July 9 and learn more!

By Maggi SaucierThe landlording subgroup met

on June 19 and had a great meeting.We discussed different topics of in-terest to landlords anddecided that our nextmeeting would focus onleases. We asked all at-tendees to bring in theleases they were cur-rently using and we hope to com-pare and learn from each other.

At this time, we do not have aplace to meet monthly but we dohave a meeting scheduled for Tues-

day, July 17, at 7:00 p.m. (yes, we arean optimistic group!) If you wouldlike to attend the next meeting andwere not at the first meeting, you can

call Maggi Saucier (658-8819–home, 254-5608-work, or email atmagsaucier@charter.net)a few days before themeeting for the location.

If you have any interest in becom-ing a landlord or learning moreabout being a landlord, please joinus. We have some lively discussions!!

Maggi Saucier is a CREIA member.

Landlording Subgroup Meets

PHP – Professional HousingProvider Program

If you had a bank that credited$86,400 to your account each morn-ing, carried over the balance fromday to day, allowed you to keep nocash in your account at the end of24 hours, can-celed outwhatever partof thatamount youfailed to use,what would youdo?

Try to spend every cent, ofcourse! Well, everyone does havesuch a bank, and its name is TIME.Every morning it credits you with86,400 seconds.

The next morning at the samehour it rules as lost whatever of thisyou failed to invest to good purpose.It carries over no balance and allowsno overdrafts.

If you don’t use the day’s depos-it, the loss is yours. There is no go-ing back, no drawing against tomor-row. How do you spend your dailysurplus? Best wishes for an Enor-mous Return on your investmentToday.

QuickInspirationFor The Day

We Finance Investors/Renovators

12.75% Interest Rate4 Points

No Pre-Payment Penalty

STATEWIDE CAPITAL INVESTMENTS(800) 460-1890 or (281) 332-2009

6

“Resident Wins $1,000,000 forMoldy Apartment”

Two residents sued the owner oftheir apartment complex for injuriescaused by unsanitary and unhealthyliving conditions. The residentsclaimed that their asthma and aller-gy conditions were worsened be-cause of the mold and fungus grow-ing in their damp apartments.

A jury awarded one resident morethan one million dollars for her in-juries and the other resident morethan $40,000. The owner asked thejudge to lower the amounts of thejury award, claiming that they wereabsurd and speculative.

A Delaware judge ruled that theamounts awarded to the residentswere fair. Experts testified that test-ing showed the presence of severalcontaminants due to excess water inthe residents’ apartments.

A doctor’s testimony showed thatthe severity of one resident’s asthmahad drastically increased while shelived in the apartment and probablywould never return to the level it wasat before she lived in the apartment.Doctors testified that the other resi-dent had developed a permanent al-lergy to mold, which left her vulner-able to other diseases such as asthmaand bronchitis.

The court foundthat the permanentnature of the resi-dents’ injuries andthe pain and suffer-ing they’ll have to en-dure for the rest oftheir lives merit thelarge damages awards(Stroot v. New Haver-ford Ptnrshp.)”

From what thiswriter has seen, theblack mold is ratherinsidious, in that it tends to form be-tween walls, and floors/ceilingswhere moisture and a lack of lightare present. Once the mold can bedetected visually, such as along base-boards or wall openings under sinks,the problem has already become abig one. It often requires removal ofcabinets, sinks, and toilets, and thenthe drywall, in order to ascertain theextent of the problem.

Even if no tenants have becomeill, the repairs themselves can be verycostly. In one case in Georgia, analmost-new school had to be closeddown and virtually “gutted” to solvethe infestation of mold.

While we (the Public Policy Com-mittee) will do more research tokeep our members informed, thereare some easy, common-sense stepsthat can be taken by every landlordnow. They are:

1. Conduct periodic inspectionsin units that tend to be humid ormoist. Check bathrooms, kitchensand basements where leaks might befound or where condensation mayoccur.

2. Have a professional check ductsfor the presence of moisture andmold.

3. Pay particular attention to areaswhere paint or wallpaper show mois-ture spots.

4. Ask tenants to report plumbingleaks or damp basements as soon asthey become aware of them. (It isnot necessary to cause alarm by men-tioning mold, as these conditions donot automatically signal mold.)

As we become more informed ofthe extent of this situation—and,hopefully, corrective measures—wewill pass the information on to ourmembers.

Mold– From Page 4

KitchensBathsDecksTile

WindowsDoors

PaintingDrywall

20+ Years Experience

Available For Partnerships

WADE’SRENOVATIONS AND

RESTORATIONSLicensed And Insured

Office: (828) 669-1086 Mobile: (828) 215-6154

7

By Walt PlauePublic Policy Committee

Note: The following article was writ-ten by Vena Cox-Jones and printed inthe May 2001 issue of “The Real Deal,”a monthly publication of “Real LifeReal Estate Investing.” For a subscrip-tion, call (513) 471-5557.)

“On March 6, 2001, the 5th an-niversary of the enactment of thefirst lead disclosures law in theUnited States, the EPA issued a se-ries of new rules regardinglead-based paint hazards. The newstandards are making at least onegroup of professionals—plaintiff’sattorneys—jump for joy.

“The newly implemented regscontain a number of changes andclarifications (see www.EPA.gov/lead for the full text of the rules),but there are two in particular thathave made the legal profession sal-ivate. One lowers the amount oflead in dust and soil considered“hazardous,” while the other cre-ates an assumption that any apart-ment or common area within abuilding is a lead hazard if anotherarea of the building is found to be

Is EPA Moving Toward Mandatory Lead Testing?

a hazard—even if the former hasn’t beentested (emphasis by W. Plaue).

“To give you some idea how glee-fully this news has been greeted bythe people who get paid to sue you,here are some excerpts from the 1/22/01 issue of “Lawyer’s Weekly:”“...tighter federal standards will helplead paint plaintiffs in their suitsagainst landlords and make it hardfor landlords to defend themselves.”[about the provisions that all areasare assumed to be contaminated ifone is] “This will give a big boost tomany cases ... because by the time acase goes to trial, it will often be toolate for the landlord to prove thatthere wasn’t a hazardous level oflead in the apartment when the

plaintiff was injured.”“It seems clear to me that the EPA

is moving toward mandatory testing(emphasis by W. Plaue) with theseever stricter rules-—or at least hop-ing that they can make it so easy forpeople to sue landlords that it’s justcheaper for the landlord to test ev-ery unit voluntarily.

“When is someone at the top lev-els of government going to stand upand say “enough”? When housingproviders bother to get more in-volved in the political process.”

(Mrs. Cox-Jones’ final paragraphsolution is exactly why CREIA—andever more REIAs—has a Public Poli-cy Committee. If issues such as theone discussed above are disturbingto you as an investor, taxpayer, orAmerican, you must do your partand contact your elected officials.And if you are tired of hearing aboutlead paint, and if you don’t want tohear any more about it, that is justthe attitude (=indifference) that ourbureaucrats are hoping for. For in-formation on the next crisis, read thearticle on “mold” elsewhere in thisnewsletter. - Walt Plaue)

Recently, there have beenquestions by landlords who arescheduled to go to court, askingwhat should they expect and howcan they be best prepared.

Let me give you one of the bestpieces of advices you will ever re-ceive in answer to your questions.Here it is:

Go to court before your trial date and sit and simplywatch the other landlord-tenant cases being heard bythe judge. This is one of the best educational seminarsyou will ever attend. Even if you don’t have an upcom-

ing court date, I recommend landlords go tocourt at least once every six months, just to be intune with how judges view the actions of landlordsand residents. This education can greatly helpyou in your daily business practices and may getyou to see that one of your business practices maynot go over well with judges. Better to find outthis way than on your own trial date. As I like tosay, learn from the mistakes of other landlordsbecause you do not have enough cash flow tomake all the mistakes yourself!

Reprinted from www.mrlandlord.com. Thanks toCREIA member Judy Glicken for submitting.

Mr. Landlord’s Tip: Go to Court Now!

8

There are people who have at-tended a two or three day boot campthat cost them anywhere from $2,000to $5,000 and was limited to the first20 who register. How would you liketo attend a SEVEN-day conference,listen to nine national speakers onnine different topics, network with400 fellow investors from 40 differ-ent cities and do it for under $700?Still not sure? Then how about aweek long cruise for FREE! Thewarm weather of the Eastern Carib-bean is an ad-ditional bo-nus—especial-ly for every-one living inthe northeastin January!

All this willbe happeningon Carnival’snew ship “Vic-tory” fromJanuary 27 - February 2, 2002. TheFREE cruise includes all seminars,nightly entertainment, pools, Jacuzz-is, spas, casino, dance clubs, free icecream and much more. There willalso be leadership-training sessionsfor board members of real estate in-vestor groups.

How can it be done so inexpen-sively? The cost of the conferencewith an inside cabin is $975 per per-son. Three days will be spent explor-ing beautiful ports, and during thefour days at sea, real estate investormeetings will held. This amount ofeducation makes the conference atax-deductible trip. If in a 28% taxbracket, your cost after taxes is ap-proximately $699!

How popu-lar are theseconferences?National REIAhas reservedspace for 400investors andalready halfhas been re-served by lastyear’s attend-ees who preregistered. Our allottedspace last year was sold out two

months before sailing, so for thebest prices and cabin availability,register early. This is one vacationyou can’t afford NOT to take.

Here are some commentsheard from investors who attend-ed National REIA last cruise.

“Last year I came on the cruiseand I did not own one property. Iwas scared I would make a bad de-cision. I quickly learned from ev-eryone I talked to that they also

had the same fears when they got

started and encouraged me to takethe plunge. I’m proud to say that Inow own 12 units. I have set a goalto come on next year’s cruise withtriple that number. I now have theconfidence to do it. Thanks Nation-al REIA.”

“All the speakers were great andso open to answering questions thewhole week. What I learned in thetax savings session will pay for thisyear’s cruise and many future cruis-es. Can’t wait until next year’s trip.”

“Thanks for adding the “Meet Fel-

Attend NREIA’s Fifth Annual Cruise Extravaganza

The “Millionaire Mak-ers,” October 4-7, 2001.

Four Florida Hall ofFame Real Estate Invest-ment legends – JackMiller, Jimmy Napier,John Schaub and PeterFortunato – will discussbuying, financing, nego-tiating and selling real es-tate. See the enclosedflyer for all the details.

Las Vegas – Four Days, FourTopics, Four Speakers

– Continued Page 9

Priced At Just $699?!

9

low Spouses Not Involved in Real Estate” sessions. It was funmeeting fellow spouses not involved in the business andhaving the chance to share our thoughts and feelings. Italso gave us a chance to do things together while the na-tional speakers were speaking. I hope you offer it againnext year.”

“This was my third cruise and it was the BEST. Of-fering the prepaid gratuities gave us a chance to sitat different tables each night with the speakers,which was wonderful. It gave my wife and I a chanceto meet so many interesting investors from all overthe country. We plan to stay in touch with many ofthem during the year.”

“How you get the quality of national speakers eachand every year astounds me. All of them went out of their

way to meet and talk with usthroughout the week. I do have one com-plaint. The schedule was so packed with ses-sions during the day and then Q & A afterdinner, I didn’t find the pool until Wednes-day! I am going home now to take a vacationfrom my “education-vacation” Thanks Na-tional REIA for a great event. See ya nextyear.”

We all know the TV commercial that says“I’ll bet you can’t eat just one.” We like to

say, if you come on one our cruises, we’ll bet you can’t DO just one! If youwant to move forward in your investing career, this tax deductible trip is amust. Have some family members and friends you want to come along?They are all welcome. Cabins assignments and dinner seating can be ar-ranged so you are together. All deposits are fully refundable up to Novem-ber 1, so there is no excuse not to sign up now.

Fill in the registration form found in this newsletter and fax or mail itback to Cruise Chairman Don Beck. If you have questions, call Don tollfree at 877-542-9804 or e-mail him at mgmtexpert@aol.com.

Cruise

If you register by July 10 you canstill attend Georgia REIA’s First An-nual Southeastern Convention andTrade Show Friday, August 31 – Sun-day, September 2 in Atlanta, for

– From Page 8

GaREIA Trade Show Early Registrationonly $69 per person or $119 for dou-ble. There will be many national andlocal speakers, plus a wide variety ofexhibitors. See the enclosed flyer formore information.

Granite countertops are a run-away favorite for those who are ren-ovating and building new homesalike. Even though they appear to beindestructible, they do require spe-cial care.

The main culprit for granite isstains. In the kitchen, you’ll have towipe food off your gorgeous granitecounters right away. If you let mus-tard, red wine, or even cooking oildry on, you may find a stain and re-moving it will be more of a chorethan a quick pass with a spongewould have been. You’ll have a toapply a poultice—a chemical mixedwith an absorbent material to soakout the stain.

A hint from Katherine Salant, atsalantques@aol.com, advises that de-pending on what was spilled, com-mon household items such as flourand hydrogen peroxide will do thejob. After applying the poultice, youmust cover it with plastic, tape itdown, and leave it for 24 hours. Ifthe stain comes out on the first try,you’ll have to reapply a sealer andlet it dry for six hours.

Even if you’re vigilant about re-moving food spills immediately,you’ll still need to seal the graniteperiodically. The sealer doesn’t pre-vent staining, but it makes them eas-ier to remove.

Reprinted from “Wilder Real EstateNews,” Carol Wilder, Realtor. Submittedby CREIA member Walt Plaue

Caring For GraniteCountertops

PICNIC

CREIA Annual Picnic to be heldSaturday, September 22, 4 to 7

p.m., Lake Julian Park, Asheville.Mark your calendar now!

10

By Ralph TurnerCREIA Board of Director members generally serve a

three-year term which expires the last month of our fis-cal year…August 31. After this month I will have onemore month to serve. As this time nears, my thoughtsare of all our current and past Board members, It hasindeed been a privilege to serve with them, and to have

followed in the footstepsof those who came before.

Taking on the role of aCREIA Board member is a3- year commitment to bethere for our memberseach and every month tothe best of our ability. For15 years CREIA has con-tinued to

grow because members saw somethingmore valuable than just their ownneeds…and stepped forward to take on therole of a leader…a doer…acting for thegood of the organization and its members.

Do you remember the first CREIA meet-ing you came to? The day you decided tojoin? If you become a Board member, orlead a project , or teach a table topic…you

will always remember that day, too.Why? Because they each represent apersonal commitment to action.

I encourage each and every one ofyou, many of whom I have come to know in my role asLibrarian, to think seriously about becoming a truly ac-tive leader in CREIA. You will work many, many hoursbut the satisfaction and the rewards are far more thancan be measured financially.

But, back in my Librarian role, once again it’s timefor a friendly reminder to please turn in overdue itemsat the July 9 monthly meeting. My thanks to all ourmembers who use our library resources…you are trulytaking the steps to educate yourself in the incredibleworld of real estate investing.

Ralph Turner is a Board Member of CREIA.

Name Code Title Date OutM.J. McClure 0126 Tax Free Exchange 1/08Larry Ford 0118 Fundamentals of Real Estate 2/12Keith Clark 0114 How To Determine Value/Rental 2/12Johanna Schneider 0040 No Down Payment 4/09David Bonyun 0112 New Strategies for Investing 5/14Steven Bitner 0110 Positive Landlording 5/14Catherine Proctor 0039 Managing Small Properties 5/14Lou Long 0140 Deals on Wheels 5/14

Board Term Drawing NearLibraryNews

Past Due Materials

On March 14, 2001, at the behest of the U.S. Depart-ment of Justice and HUD, a Federal grand jury inGreenbelt, MD indicted a 65-year-old Sliver Springs manon charges of obstruction and submitting false docu-ments to federal officials to conceal the presence oflead-based paint in apartments he owns in Marylandand the District of Columbia.

David D. Nuyen, who owns and manages 15 low-in-come rental properties, was named on a 15-count indict-ment. He is accused of failing to notify his tenants ofthe presence and hazards associated with lead-basedpaint.

If convicted, Mr. Nuyen faces years in prison on eachcount, and a $250,000 criminal fine. The indictment isthe first-ever criminal prosecution in the United States

First Criminal Indictment on Lead PaintReturned Against Landlord

related to lead-hazard warnings required under the fed-eral Lead Hazard Reduction Act of 1992. See http://www.globest.com?RMILRM4N8KC.html

ATTN: Landlords and Investors: “I thought you should seethis blurb from the AASPO online newsletter. If you would liketo sign up for it, you can do so atwww.smallpropertyowner.com.

Please make sure you are following the regulations onhanding out Lead Paint Warning booklets to potential tenantsand buyers.

You should get a signature from the recipient of each book-let for your records.

Jane Garvey, Chicago real estate investor, publisher andREIA leader. Reprinted from St. Louis Real Estate InvestmentNews, May2001

11

House For Sale, 2 BR/1BA, WestAsheville. 50 X 150 lot Lease with op-tion to buy. Price negotiable. JimSylvester, 684-1143.

House For Sale, 3BR/1BA, 51Summerhaven, Swannanoa. 1,000 sqft, new vinyl siding and windows,$78,000. Nancy Stark, 683-5393.

Lot For Sale, _ Acre, ConnesteeFalls Community, 5 miles south ofBrevard. Gentle laying lot directly on9th Fairway, 10 minute walk to club-house and pool, city sewer/water, gat-ed community/24 hour security, 4lakes. Market value $20,000. Willwholesale @ $14,500. Steve Price,454-5039.

Oil Furnace For Sale, $500. 669-1086.

Natural Gas Furnace Free, 50,000BTU, works. Colin, 298-3933.

Mobile Home Plus 1.75 Acres (2lots) For Sale, 19N to Old MarshallHwy to Hwy 251, R on Morrow FarmRd. Tax value $40K, Market Value$48K-$53K. Cash price $25,000. CliffMcLarty, 659-8155 or 242-2129.

Lot For Sale, 1 Acre, NortheastHenderson County. Restricted subdi-vision, $32,400. Lacy Cross, 681-0693.

Member Name:

Guest Name:

To CREIA’s July 9, 2001, Meeting

Guest Policy Guests can waive the $10.00 monthly meeting fee ($15.00/couple) for

their first visit with a referral from a member. Simply fill out the ticket be-low and have the guest turn it in at the sign-in desk. Should you have anyquestions about this, please call Judy Glicken at 828-645-8101.

Annual dues are $100 for one member and $25 for a second member living in the same household.

Member Name

2nd Member’s Name

Address

Phone: H W E-Mail Address

Level of Experience (check 1) ❏ Novice ❏ Intermediate ❏ Advanced

Would you be willing to share your expertise with others? ❏ Yes ❏ No

Committee(s) I might be interested in working on: ❏ Programs ❏ Library ❏ Finance❏ Membership ❏ Newsletter ❏ Subgroup ❏ Marketing

❏ Newsletter subscription only ($36 a year)

Date Amount Paid

Make check or money order payable to: CREIA and mail to: CREIA, P.O. Box 615, Asheville, NC 28802.

If paying by credit card: ❏ Mastercard ❏ Visa

Name On Card

Number: Expiration Date

Signature:

For membership information, call Judy Glicken at 828-645-8101 • www.CarolinasREIA.org

The Association is an educational organization only and does not offer investment, legal, or accounting advice of anykind and is not liable for any action or inaction taken or not taken as a result of its communications.

CREIA Membership ApplicationCLASSIFIEDS

Helpful Web SitesHere are 3 helpful websites for

the real estate rehabber or for work-ing around your own home:

www.doityourself.com. Many hun-dreds of articles.

www.naturalhandyman.com .Many how-to articles.

www.a2zcarpet.com. One of the bestresources for carpet and rug care. A greatfeature is their stain removal guide whichcovers just about every stain, as well assome odor removal tips.

Reprinted in part from DIG-Diversi-fied Real Estate Investor Group, April2001.

P.O. Box 615Asheville, NC 28802

828-255-2727Fax: 828-255-8042

First Class Postage

JULY MEETING

SHOW & SELL

If you have a property for saleor something you are interested in,single family, duplex, mobile home,land, etc., that you would like to of-fer/ask for during Show & Sell atthe CREIA meeting, please fax yourinfo to Cliff McLarty at 828-659-3894 or email him atcliff@dadincorp.com by Friday be-fore the Monday meeting. He willprepare an overhead transparencyto show at the meeting.

CREIA OFFICERS

PresidentDavid WorleyHome: (828) 252-3511Work: (828) 251-2727e-mail: highland3@ioa.com

TreasurerLacy CrossHome (828) 681-0693Work (828) 277-4511e-mail:lacycross@home.com

SecretaryBeverly B. RobinsonHome: (828) 298-0617e-mail:robbe@mindspring.com

National SpeakersNeal PeekHome (828) 667-5498Pager (929) 271-5349e-mail: npeek@aol.com

ProgramsSteve ColePhone/Fax: (828) 274-8679jostpirate@aol.com

MembershipJudy GlickenHome: (828) 645-8101Mobile: (828) 775-2608Fax: (828) 645-8457e-mail: judyglick2@aol.com

CommunicationsWayne KaleWork: (828) 685-0026e-mail:wayne@ryonrecruiters.comFax: (828) 685-0054

LibrarianRalph TurnerHome: (828) 685-0105Work: (828) 685-7675Pager: (828) 681-6348

VP Special ProgramsBill ChoateHome (828) 299-0767e-mail: choatedev@aol.com

• Monday, July 9, Best WesternBiltmore West Hotel, 275 SmokeyPark Hwy., Asheville. Buffet is$12.00 and served from 5:45 to6:45 p.m. Buffet is first come, firstserved; no reservations taken.

• 6:10 – 7:00 – Program: Table Top-ics Session I

• 7:00 - 7:30 – Networking, VisitCREIA Library, Business Meet-ing

• 7:30 - 8:20 - Program: Table Top-ics Session II

CREIA is an educational organization and investors should consult an attorney or accountant before makingan investment. All members and guests assume the risk of making their own investment decisions.

CREIA Info Line — (828) 255-2727http://www.CarolinasREIA.org

SubgroupsBooth RankinsHome: (828) 689-2817Work: (828) 689-2817e-mail:brankins@mindspring.com

Director Of EducationJohn MaltryWork: 252-6858johnmaltry@cs.com

Director ProfessionalStandardsDebbie BucklaewH 828-454-0235Cell 828-507-7247email:beaumontrentals@aol.com

Special PositionPublic Policy CommitteeWalt PlaueHome: (828) 658-3151Fax: (828) 645-0165e-mail: pplaue@aol.com