KREIA helps local folks who invest in real estate

Bubba Wallace here from 2311 racing. You know what's slower than a pace car? Waiting at the car wash. That's when I fire up Chumba Casino. It turns those slow minutes into fast fun. With new games every week, you'll never get bored. Next time you're stuck in the slow lane, speed up with Chumba. Play now at chumbacasino.com. Let's Chumba. Sponsored by Chumba Casino. No purchase necessary. VGW Group, Ford, where prohibited by law, 21 plus, terms and conditions apply. I can get talked into helping somebody with a project. I've got a lot of friends, and they like own a little property, you know, and they'll say, hey, I got to move a water heater. You do? What are you asking me for? Well, I'm all bustled up. Not really. It's one of those ongoing things, people in their projects, and I do tend to help out now and again. We invited in a couple guys today to talk about being a landlord, challenges of owning property, the Kentucky Real Estate Investors Association. I got a couple of the officers of that club. John Mays is the president. How are you, John? Hey, what's going on? I'm official now. I'm an officer. He's an officer. You have the best parking space, don't you? Yeah, I do. Yeah, I do. Frank Miller, you used to be the president? Yes, I used to be past president. Uh-huh. Was that tough stepping down to give up the air? Especially giving up that parking spots of John. Yes. Well, in the Air Force one that goes with it and all the other things. And playing the music when John walks in the room, you're like, that used to be for me. Let's talk about what is the Kentucky and Real Estate Investors Association, John? I mean, if I had to just put it a nutshell, I mean, we are a nonprofit, which most people don't know, but we have about 900 members, almost 900 members and sponsors and people who we support through education and being able to get real estate right. Here's the real deal. Most people who step into real estate mess it all up. They're just like us, they're mom and pops, but they didn't get the information. They did a horrible. Well, it's a learning curve, though. I mean, my mind. I was a kid. My dad owned the old house that was on the other street. We were fixing things. Oh, yeah. Did tenants and toilets and drama and all stuff. And then most people quit. You know, they quit because they weren't in the community. And so we've been around, our organization has been around almost 50 years. I mean, we're pushing 50 years. It was started by a small group who just said, hey, we need to get together and learn how to do this together, share best practices, a group of about six to eight guys. One of them is still on the board. His name is Rubik. Farland. I mean, he's like the OG of the game. 48 years in and he's still for you, Rubin. Yeah, yeah. So shout out to Roo. And so now we are rolling headed toward our 50th anniversary, helped tens of thousands of families across this Kentuckiana area to be able to learn how to do real estate the right way. So we're all local mom and pop investors and we just here wanting to do the right thing for our community. And keep building it out. Are we talking about just you own a separate house that you rent, or is it apartments, or is it just property, literally land? What are we talking about? So it's a little bit of everything. So a lot of the investors in there have single family homes, multifamily, commercial. So I would say the average member has somewhere between 8 to 10 doors. So you're looking at a serious local mom-to-pop shop going on.

And, you know, a lot of people get this notion that landlords are this big mean group of somebody. That's right. So what's his name? Mr. Burns, Montgomery Burns. Run them out. Today is the first and it's noon and I don't have the rent. That's not how life works at all. I don't know. You might should tell the courier journal that, too, you know. Is that wrong? But, you know, sometimes landlords have to go and hide it because it's almost like looked at as a bad thing when you're a landowner. And, you know, but we're here representing the fact that most landowners, honestly, almost all of them that I know, these are good quality people. People like myself, we live and we own some property in our own neighborhoods. I'm even a pastor at my local church, you know, so I get to do youth ministry there. And I'm so excited about it. about it along with my wife and my family. And so we're here helping out the best we can to be able to make our community better. A lot of the houses that we fixed up over time were vacant, abandoned, and they weren't even on a tax roll. And so we've been able to help improve our neighborhood. Sometimes we even get to pick some of the people who get to sell houses to, you know, so you can like sell them to your friends and family and they can live around you. So, I mean, they're real people who are doing real things to build our community in Louisville. And I don't think that always gets acknowledged. No. And I mean, you're right. There are abandoned. homes or roughed up homes that just need some loving care. I mean, Boo Radley moved out 40 years ago and it's just sitting there. And so it just takes some love. But here's a key word in the name of your organization. Investors. People have to put their own capital into this thing. And there's risk involved. And so I don't think a lot of folks realize that it's an investment for some family to provide the place where you live. And so when people rough it up, it's like that, that's, yeah. And what people don't realize either is investing in real estate is not get rich quick. No. So it's, you know, for the long term. It's for retirement purposes. And the great thing about the organization here is that we give back to the city a lot here. So, you know, I think the mayor had like 15,000 affordable housings he's trying to do here. And, you know, the way we're doing things right here and we're improving the city and making it basically one door at a time. Is the Commonwealth of Kentucky helpful? in this capacity or they put up roadblocks? Tell me about it, John. Well, whenever you're talking about the Commonwealth of Kentucky, you know, there's two sections you got to look at. There's Kentucky and then there's little, you know, and so sometimes... Different universes. Sometimes the story can be a little different from one to the other. But ultimately, I think we've done a really great job over the last couple of years of just getting a chance to talk to people and humanize the landowners and being able to partner. What we found is that here locally, people are very receptive to be... being able to make changes and get a different perspective. But many times they were under-informed. So they were kind of running off some narratives that landowners were bad or development is bad. Anybody who's doing anything to change a building or make adjustment is automatically evil. And so we've now, I believe we've begun to change that narrative and we hope to continue to do so. There's a lot of pushback against certain groups. I've seen it in the news over and over again. They say, well, we'd like to put some apartments here. And then people lose.

their minds, like they said, they're going to put a nuclear waste dump there. And it's like. Nimbism, you know? Yeah. Yeah. And so, I mean, we're all like that in our own kind of extent. You know, we got certain things that we like and don't like in our neighborhood. But at the same time, our development code here locally, I think it's a well-known fact that, you know, it needs some improvement. If we want to be a city like Indianapolis or we want to see Cincinnati or we want to be like Nashville, who's had all this significant growth, and there's some things that we can probably learn. and also some adjustments we can make to be able to, you know, be able to get on that same level or even surpass them because we got much better location with much better people here in Louisville. John, can I put a pickleball court next to your house? I'm just kidding. Hey, you can't actually too. Hey, man, we get out there. So if folks listening know somebody who owns a little property and maybe aren't part of your organization, they'd be better off being a part of it just because the group has a stronger voice together. Right. Not just a stronger voice. Most people who invest in real estate end up losing money. And the fact is they shouldn't have to. These are regular mom and pop. They got jobs, teachers, police officers, people we know. And the reason why we're so passionate about it is because somebody helped us because we were headed down the wrong track. Many of us on our first deals, we didn't do so well. And we were about to quit. But somebody helped give us some information, some educational, how to do it right. And we're just here paying it for it. Nobody here's getting paid. We're just a group of volunteers wanting to help the next person, just like somebody helped us. So they should reach out to us. I mean, we're online at crea. It's easy to join the lowest barrier to entry. At all the real estate investment associations across the nation, we're the least expensive one on purpose because we're nonprofit. We don't have any staff. Right. You know, so we're just here wanting to keep the lights on. So it's literally $125, not per month, not per quarter. Per year. There you go. Per year. $125 and you're part of this community. You can go and go to Frank's houses and he'll be fixing something up and making it all beautiful and he'll break it down to you how to do it. If you're a new investor, we have whole classes and mentorship program that we'll put you into where we meet monthly and talk to new people about how to do it right. We've got all the access to connections, information, all for $125. It's an absolutely undefeated deal. You're also improving the community, though, because housing is, there is a shortage, and you're making new property or refurbished property available. Yeah, I think the thing that people don't realize is that there's so many vacant and abandoned houses around the city, right? So then when we step in, someone from our organization comes in, it's called learn the site. So basically, we'll go in, buy a boarded-up house, turn around and fix it up, put it back on the tax row, and now the city's generating more income from the taxes on the property instead of being set in there vacant. Of course. All right, the group's called Kentuckiana Real Estate Investors Association. That's the acronym, K-R-E-I-A. And that's the website.

K-R-I-E-I-A-com, CREA. That's how you pronounce it. That's it, Crea. Crea. It sounds better from you, though. Pastor John, a pleasure speaking with you. It's a blessing. Keep standing up for mom and pops. We appreciate it. You too, Frank. Thanks a bunch. Thanks. What are you working on right now? How many buildings? We've got about 12 single families under construction. Good for you, man. What about you, John? I got four good projects right now. We're working hard on them, too. You guys never sleep. I love that. Keep up to good work. Keeping a roof over people's heads. John Mays, Frank Miller, K-R-E-I-A dot com. Back in a minute. Hey, it is Ryan Seacrest here. Want to bring a little Hollywood excitement to your day? Take a few spins with Chumba Casino's brand new game. Ryan Seacrest's 10K ways. It's free and features 10,000 ways to play, giving you nonstop action, including thrilling bonus re spins and cascading reels. Every spin brings something new. So step into the spotlight. Enjoy the excitement. And play today at chumbacasino.com. No purchase necessary. VGW Group. Voidware prohibited by law. CTs and Cs, 21 Plus. Sponsored by Chumba Casino.