As Real Estate Investors, many of us work away in our own little world, not knowing what is going on around us or what might be happening that can change the way we do business.
I was of that opinion when I first started investing. Work hard, do a good job, make money and retire . . . . great plan. Many other investors in other states had it.
Then back a few years ago something happened in a few states that caught the real estate investors unaware that mobilized the industry . . .
You see a few years ago, some legislators in a few states decided for what ever reason that maybe real estate investors were taking advantage or someone somewhere was not getting enough taxes or just that our industry needed some regulation. So they cooked up some new laws that changed the face of Lease Options in their states.
No one knew what was going on until the laws were on the books . . but we found that many other states were working on similar legislation and many of the national organizations like National REIA went to work and hired lobbyist in many states to stop further legislation or to tamp it down a bit . . many of the Guru speakers shelled out $1000s to pay for these lobby efforts on our behalf.
There are many new laws ever day proposed here at the local level as well as at the state and national level. Here at MAREI we do our best to keep you informed and we wanted to make you aware of a few things going on that you may want to monitor or take part in.
First, those of us in that do any kind of financing are totally sick of hearing Frank Dodd and Safe Act, but they are here for now and some of the big guys in the Industry have assembled a Coalition to possibly help improve current laws and help shape future laws. This may or may not be the answer, but it’s a first start . . It’s called the Seller Finance Coalition and you can find their web page at www.SellerFinanceCoalition.org
The other is the National Association of Realtors and their Realtor Action Party. Now this is an organization funded by dues and donations from their Realtor Members. And for the most part, they have similar issues that we do as Real Estate Investors. When there is a large issue, they mobilze and they have the serious funding to get the message out to their members and for their members to quickly and easily contact their legislators. They even have a new app for that.
I urge you to check out the Realtor Action Center and to download the App. Their App seems to work for anyone, not just Realtors and if their issue is our issue, you can use it to contact your legislator – get the app here . Or text the word “app” to 30644 or search for “NAR Action Center” on your iTunes Store or Google Play Store.
Please don’t put your head in the sand. Stay up to date, be aware, and preserve our industry because the housing industry keeps the our nation strong.