Dear TBREIA Member, Sponsor, Vendor, Volunteer, Guest and Speaker:

Membership update report:

We are 594 members strong. We would like to thank everyone who have referred members to our organization, make sure you let us know so we can credit your account with 25 member credits. You can now view your credits online at www.TBREIA.com after you log in with your member ID and pin in the upper left corner. The system will be upgraded soon with additional features. Soon you will be able to use your credits for renewal, seminars and other services.

New member benefit - List your business for FREE on TBREIA.com:

Now members who own a business can list it for free on TBREIA.com so other members can find you. In this first version, members can enter the county and type of business, such as realtor, broker, title company, appraiser, attorney etc.. and instantly find your business. This feature alone should generate enough leads to pay for your membership or renewal. Please feel free to email the types of improvements you desire for the business listing service, and we shall try to budget the programmers time to make it a reality.

Tampa Bay REIA/ForeclosuresDaily Charity Event

This will be a FREE book - signing event with Frank McKinney a real estate superstar, host of an upcoming TV real estate reality show. The event will be held at: Hilton Tampa Airport on: 2225 North Lois Ave in Tampa, FL 33607 at 6:30 PM. Go to TBREIA.com to register or call (727) 388-1376.

Tampa Bay REIA/ForeclosuresDaily Bus Trip

On February 25th Tampa Bay REIA and Foreclosures Daily will sponsor an educational buss trip for members. The bus trip will be hosted by Larry Harbolt (www.LarryHarbolt.com) one of Tampa Bay’s most respected real estate coaches.

Tampa Bay REIA Social Events

As a member of Tampa Bay REIA, you will soon be able to participate in our social events. The program is called Networking Can Be Fun. Check the calendar and your email often for upcoming events.

Benefits of becoming a member of Tampa Bay REIA:

The Trade Secrets of Real Estate Acquisition
Part 2: The first steps

by Reggie Ford Reggie has been in Real Estate-related professions since the late 1970s. He has been listed in Who’s Who in Creative Real Estate. His techniques are most strongly influenced by Warren Harding and Chuck Chapman. Reggie specializes in Creative Real Estate Acquisition Techniques. Situations can (and do) occur that make Real Estate ownership seem less appealing to a person than it did at another time. Marriage, divorce, birth, death, a job change, retirement— such life changes are all commonplace occurrences, and any one of them can have a major impact on the lifestyle of a property owner. These changes can suddenly change the way a person looks at their property. The benefits of ownership which were once highly valuable to the owner can suddenly lose their appeal. Those same factors which were once benefits of ownership may be robbing the property owner of their peace of mind, or may even become a threat to their financial future. When a dream home starts to give the owner nightmares, the natural solution is to sell. This is where you, the investor, come in. You have a two-fold opportunity: to solve this unhappy homeowner’s problem, and to enjoy the benefits of dealing with a seller who is truly motivated. It’s a great feeling when you can help yourself through helping someone else. Unfortunately, there is no universal formula to get you and the seller to that end. Every deal is unique for the simple reasons that no two sellers are exactly alike, and neither are the situations that they are facing. In order to best address the situation, first you’ll want to find the answer to the question: What things have changed in the current owner’s life, which have caused ownership of this house to cease being a benefit, and to become a burden instead? This is where it all begins. A big part of finding out what the prospective seller wants is to listen to their life story. People will talk to you for hours about themselves and their lives if you let them. Just let them! The more you learn about the circumstances the prospective seller has come from and where they see themselves as being right now, the better picture you will have of their current needs and motivations. After all, the key to successful negotiation is compromise, and it’s much easier to come to a mutually beneficial agreement with a person, if you have an idea of what they want.   Tampa Bay REIA and Foreclosures Daily Bus Trip with Larry Harbolt. February 25th 2005. $199 for members - plus bonus Educational Bus Trip for members of Tampa Bay REIA and Foreclosures Daily. Real deals live. Learn from real life examples. Find out how to get the bus trip for free with the purchase of Foreclosure or Probate data at the Tampa Bay REIA general meeting. There will be limited seating on this first bus trip, so make sure you reserve your seat. The Bus trip will be hosted by Larry Harbolt, one of the best real estate coaches in the Tampa Bay Area.

According to Florida law, those who work on your property or provide materials, and are not paid in full, have a right to enforce their claim for payment against your property. This claim is known as a construction lien.

If your contractor fails to pay subcontractors or material suppliers or neglects to make other legally required payments, the people who are owed money may look to your property for payment, even if you have paid your contractor in full.

This means if a lien is filed against our property, it could be sold against your will to pay for labor, materials or other services which your contractor may have failed to pay.

This document explains Florida Statute 713, Part I as it pertains to home construction and remodeling, and provides tips on how you can avoid construction liens on your property.

PROTECTING YOURSELF
If you hire a contractor and the improvements cost more that $2500., you should know the following:

You may be liable if you pay your contractor and he then fails to pay his suppliers or contractors. There is a way to protect yourself: A release of lien is a written statement that removes your property from the threat of lien. Before you make any payment, be sure you receive this waiver from suppliers and subcontractors covering the materials used and work performed.

Request from the contractor, via certified or registered mail, a list of all subcontractors and suppliers who have a contract with the contractor to provide material to your property.

If your contract calls for partial payments before the work is completed, get a partial release of lien covering all workers and materials used to that point.

Before you make the last payment to your contractor, obtain an affidavit that specifies all unpaid parties who performed labor, services or provided materials to your property. Make sure that your contractor obtains releases fron these parties before you make the final payment.

Always file a “Notice of Commencement” before beginning a home construction or remodeling project. The local authority that issues building permits is required to provide this form. You must record the form with the Clerk of the Circuit Court in the county where the property being improved is located. Also post a certified copy at the job site.

In addition, the building department is prohibited form performing the first inspection if the Notice of Commencement is not also filed with the building department. You can also supply a notarized statement that the Notice has been filed, with a copy attached.

The Notice of Commencement note the intent to begin improvements, the location of the property, description of the work and the amount of bond (if any). It also identifies the property owner, contractor, surely, lender and other pertinent information. Failure to record a Notice of Commencement or incorrect information on the Notice could contribute to your having to pay twice for the same work or materials.

CONTESTING A LIEN
Alien is valid for one year, unless a lienor files a lawsuit to enforce the lien prior to the expiration of the year. An owner has the right to file a Contest of Lien during the one year period. Upon the filing of a Contest of Lien, a lienor must file a lawsuit to enforce the lien within 60 days. Failure of the lienor to file the lawsuit renders the lien invalid.

The Construction lien law is complex and cannot be covered completely in this document, we recommend that whenever a specific problem arises, you consult an attorney.

Distributed by: Alday - Donalson Title Agencies of America “Barbie” Burgess 727-403-9260

Foreclosure Daily and Probates Daily 10% special discount for members of Tampa Bay REIA

Welcome to the Question & Answer section of the TBREIA Monthly Newsletter.  Please submit your questions to "Sylvester the Investor" via the Tampa Bay Real Estate Investors Association Yahoo Group http://finance.groups.yahoo.com/group/TampaBayRealEstateInvestors/ We will attempt to answer as many questions as space permits.  Unfortunately, we will not be able to answer every question posed.  Selected questions will be published in each month’s TBREIA Newsletter.  As with any financial or fiduciary undertaking, seek properly licensed counsel. Welcome into the year 2006. With the Holiday Season now safely in the rear view mirror, let’s look forward to making 2006 much more successful. Please feel free to share your personal stories of success and lessons learned with other investors. Here are some general real estate terms and definitions that will be of use in increasing your investing knowledge. Annual Mortgage Constant – The factor that, if multiplied by the loan original balance, will result in the annual mortgage payment. Also called Loan Constant. Arm’s length transaction – A business transaction where both parties are acting in their own self interest and are not under the influence or control of the other party. Assignee – Person to whom a right and/or interest is transferred or assigned. Assignor – Person who gives or assigns their legal rights and/or interests to another person. Ballon payment – a single, large payment made at maturity of a partially amortized mortgage to pay off the debt in full. Blanket mortgage – One mortgage covering two or more properties. Bilateral contract – An agreement where both parties are obligated to each other to perform. Capital gain – The profit from the sale of an asset, including real property. Capitalization rate – The ratio between the net income derived from an property and its present value. Also called “Cap rate”. Caveat emptor – Latin, “Let the buyer beware”. Deferred maintenance – Maintenance/repairs that need to be done to restore value to a property. Draw – A disbursement of funds made by a lender to a builder or rehabber. Due on Sale clause – A clause in a conventional mortgage that gives the lender the right to require that the loan be paid in full if the property is sold. Encumbrance – Any lien, claim or liability affecting the title or attaching to real property. Also known as a “cloud on title”. “FAR/BAR” – A real estate Sale and Purchase contract that has been approved by the Florida Association of Realtors and the Florida Bar. Grantee – Person who receives a deed, the buyer Grantor – Person who signs and gives a deed, the seller Highest and best use – A principle of value focusing on the most profitable legal use of a piece of property. Improvement – Addition (not repairs) that add value to real property. Intestate – Having died without a will Joint tenancy – An estate or interest owned by more than one person, each having equal rights to possession and enjoyment. Joint venture – Two or more parties involved (joined) in one or more business deals. Level payments – A method of amortizing a mortgage where the borrower pays the same amount each month. Leverage – using borrowed funds to finance acquisitions or to increase the rate of return on cash invested. Meeting of the minds – An agreement reached between two people through an offer and acceptance. Mortgage – The pledging of property as security for repayment of a debt. Negative amortization – A financing situation where the monthly payment made, does not cover the principal and interest due. The unpaid balance is added to principal and the loan balance gradually increases. Also called “Negative Am” or “Neg Am” Note – A legally executed pledge to repay a debt. Option – A right or privilege to purchase or lease property at a pre-established price during a designated time period. PUD – Planned unit development. A residential project with mixed land uses and generally high density. Prepayment clause – A clause in a mortgage that allows the borrower to pay off the debt ahead of schedule without penalty. Price – The amount paid for something. Quiet title – A process where a suit or court action is taken to remove a defect, cloud or claim against the title of real property. Remainderman – Party designated to receive a remainder estate. Can be vested or contingent. Setback – The restriction established by zoning or by deed on the space required between lot and/or building lines. Situs – Location. The relationships and influences created by location of a property that affect its value. Subject to the mortgage – A buyer makes payment on the existing mortgage, but does not assume responsibility for the mortgage. Also called “subject to the existing financing” or “subject to”. Substituion of collateral – Replacing agreed upon collateral with a differing piece or parcel of acceptable collateral. Tax certificate – A document sold by a local taxing authority granting the certificate buyer the right to receive delinquent taxes plus interest, when paid by the property owner. Also called a “tax cert”. Tax deed – A type of deed used to transfer title after real estate is sold at auction for nonpayment of taxes. Tax lien – A claim against real property for nonpayment of taxes. Terms – The time period (and structure) in which payments are made or deferred. Testate – Having left a will. Title insurance – An insurance policy that protects the holder from any loss resulting from defects in title. Lender’s coverage protects the mortgage company, with borrower’s coverage protecting the buyer. Trust – A right of property held by one party for the benefit of another. Usury – Charging an unlawful rate of interest. Unilateral contract – A contract in which only one party is required to perform. Variance – An exception to zoning regulations or ordinances granted to relieve a hardship. Warrant – a guarantee or covenant. Writ – A court order directing one party to do a specific act. Yield – The rate of return on an investment stated as a percentage of the actual amount invested. Zoning – The classification of real property for various purposes. Related to highest and best use. Thank you and much success, Sylvester Fordoms Sylvester Fordoms has been investing in Florida real estate since 1996 and is active in several Tampa area investment groups.For joint venture opportunities, transactions, or the buying, selling or trading of real estate, please contact Sylvester at portfolio_properties@yahoo.com. All other questions must be directed via the Tampa Bay Real Estate Investors Association Yahoo group. http://finance.groups.yahoo.com/group/TampaBayRealEstateInvestors/ TBREIA PHONE CONFERENCE! STRAIGHT TALK WITH SYLVESTER! Every second Wednesday of every month. Ask the questions, get the answers Brainstorm, analyze transactions... Share experiences and much much more... For more information go to TBREIA.com and then click on the calendar menu. Image Experts (Ed Warren) - Standard Vendor. Business Cards - Post Cards - Flyers - Brochures - Signs - Banners - and much much more … (727) 488-7558 / edwarren@earthlink.net / www.ImageExpertsOnline.com EVERYONE SHOULD HAVE AT LEAST NICE BUSINESS CARDS!

TBREIA is a member of National REIA at http://www.nationalreia.com/.  The added benefits are worth the membership fee form TBREIA alone at NO EXTRA cost to you.  It is all ready in your membership.  The list includes Avis   CybrCollect - Free Check Collection Services , Dearborn Publishing , DHL  Health Insurance through LaFrey & Associates, Home Depot Supply, National Tenant Network, Nationwide Insurance, NoLo Press, Office Depot, Paymentech, PowerNet Global , Real Wealth Expo ,Real Wealth Leadership Institute  Saba Wireless/Nextel ( Blackberry/ i860), Sherwin Williams Program, Smart Moves ,Tenant Tracking Discount.

Keep watching for details of each portion as the year comes along.  If you got to have it now email Cindy Lukehart at benefits@tbreia.com with your member number and I will send what I have available for you to use in your business.

If you would like to see more benefits submit suggestions and we will try to make it happen.

To a Prosperous 2006!!!

Cindy Lukehart, REALTOR, Future Home Realty Inc, (727) 420 3628
TBREIA benefits coordinator.  benefits@TBREIA.com

Bobbie Floerchinger Senior Loan Officer Pinellas * Hillsborough * Pasco Mortgages for Investors and the homes Investors live in. Phone: (727) 547-8776 Cell: (727) 235-3181 Fax: (727) 768-0773 bobbie@flpropertyloans.com www.FLPropertyLoans.com bfloerchinger@tampabay.rr.com

SMI Financial Services, Corp, or Super Mortgage is located in the Tampa-Clearwater-St.Petersburg area in Florida. We cater to buyers from all over the country moving to Florida or investing in the Florida real estate market, as well as people already living, working and playing in Florida. I have been in the mortgage industry for the past 8 years. My experience and training in all facets of the mortgage industry will provide you with informed, professional advice working to make sure your goals are met in every transaction. As a loan originator at SMI Financial Services Corp, I have access to hundreds of lenders, hundreds of programs, and a solid processing staff. Through my commitment, experience, and expertise I establish a business relationship with my customers that will last a lifetime! Call Bobbie Floerchinger at (727) 235-3181 today!

Other Investor Resources

MONDAY NIGHT MEETING (Weekly) Larry Harbolt runs the best networking meeting in Pinellas County. The meeting starts at 7PM. $1 tip at the meeting. The location is: Piccadilly Cafeteria; 1900 34th St N, St Petersburg, FL 33713. For more information: www.LarryHarbolt.com GEORGE’S THURSDAY MORNING MEETING (Weekly) George Roberts runs the best networking meeting in Pasco County. The meeting starts 9AM - 10:30AM. $3 to get in (coffee is free). The meeting is at PRIME TIME: Located at 11408 US hwy 19 North, Port Richey. 727-869-9707. This is just south of St. Road 52 across from Dunkin Donuts. SUNCOAST REAL ESTATE INVESTORS ASSOCIATION - SREIA General meeting every first Tuesday of each month. Admin contact: Greta Garvin (813) 882-3170. FINDERS & NETWORKING MEETING (Monthly) The meeting is held every third Wednesday at the Piccadilly Cafeteria; 1900 34th St N, St Petersburg, FL 33713. Meeting starts at 6:30PM and ends 8:30-9:00PM. Meeting is hosted by Wayne Arnold. MIKE HEINEY’S WEDNESDAY MORNING MEETING (Weekly) The meeting starts at 9:15 am - $2 tip and is held at Perkin's Restaurant southwest corner of Curlew Road at US 19 North (Home Depot shopping plaza). Further info - John O'Leary (727) 771-0191 or Barbie Burgess (727) 403-9260. WEALTH BUILDERS OF SARASOTA Weekly lunch meetings and monthly night meetings. Lunch every Wednesday Noon to 1:30 at the Oriental Buffet Restaurant on Bee Ridge and McIntosh Road in Sarasota. For more information call Ruth @ 941-726-4162. PORT CHARLOTTE REIA Lunch every Friday, Noon-1:30 pm. $8.25 includes lunch, drink, tax, and tip. New Ming Court Chinese Restaurant - 1900 Tamiami Trail, Port Charlotte. For more information call Ruth @ 941-726-4162. SOUTH WEST FLORIDA REIA. They have three Chapters: Collier County Lee County Charlotte County They meet on the 3rd Monday, Tuesday and Wednesday of every month respectively. Please contact us if you would like to list your group meeting!

LENDINGONE NUMBER ONE IN HARD MONEY LENDING. LendingOne is the fastest growing Hard Money Lender in Florida. Whether you “Buy to Sell” or “Buy to Hold,” LendingOne’s unique loan programs will minimize your monthly payments while maximizing your profit potential. ONE STOP. ENDLESS SERVICES • Higher LTV’s and Leveraging • $40,000–$400,000 Loan Amounts • Prompt Closing • No Prepayment Penalties • Offices Statewide • One Year “Bridge” and Convertible Loans • New Construction Loans And we don’t run out of money! Ask about our “Two-in-One” Convertible End Loan Option And details on our “New One” Construction Loan. Call: (813) 645-8076
Richard Welch Regional Senior Loan Officer Cell: (813) 245-2564 Fax: (813) 641-0087 richardw@LendingOne.com	www.LendingOne.com 1.877.367.4730

Successful Short Sales Workshop with Mr. Banker!

	1760 Turner St in Clearwater. Registration starts: 8:30 AM.
SUCCESSFUL SHORT SALES WORKSHOP WITH MR. BANKER! Saturday, Jan. 07th 8:30AM - END Only $50 for members

YOUR EASY SIGNUP OPTIONS ARE:

• For $35,- Members will receive: One ticket to the Successful Short Sale event + Bonus.
  
• For $70,- Non-members will receive: One ticket to the Successful Short Sale event + Bonus. (NO MEMBERSHIP WITH THIS OPTION)
  
• For $80,- Non-members will receive: One TBREIA Annual membership, plus the Successful Short Sale event + Bonus – this is the best deal for non-members! You get to list your properties and business on TBREIA.com for FREE!

We invite you to register by Fax: (813) 354 - 3552, or on the Web: www.tbreia.com Or by Credit Card, or send your Check by mail to: Tampa Bay Real Estate Investors Association 204 37th Ave N. #368, Saint Petersburg, FL 3370. For questions call: (813) 404 - 7639.

1) Name _________________________________________ Phone __________________ 2) Second Person’s Name ___________________________Phone __________________ Address _____________________________________ E-mail ______________________ City __________________________________ State ___________ Zip _______________ Credit Card number _________________________________________________________ C.C.-Expiration Date _____________ Zip Code for billing address of card _____________ Or Check # _____ Amount to bill: $ _____ [Yes / No = TBREIA Membership] Date: ______

	About Graham Treakle aka Mr. Banker:
	Graham bought his first foreclosed property three months after graduating from college. “I learned in college that about 90% of millionaires start in the real estate business, and I have followed that model ever since. On my very first investment property I bought and sold it in less than 15 days, and made over $12,000.”

Don’t miss:

Graham Treakle
aka Mr. Banker

Our January 7th Saturday seminar speaker!

$35 for members:
Bonus 1: $50 savings discount on the Parade of Real Estate Experts ticket!
Bonus 2: $Mystery gift!

$80 for non-members:
Bonus 1: Free 1 full TBREIA annual membership with unlimited property postings to over 500 members and over 4000 pre-foreclosure leads in Excel format.
Bonus 2: Discount on the Parade of Experts ticket

LIMITED TO FIRST 50 - REGISTER AT THE FRONT DESK!
All attendees who arrive from 8:30 am to 9am (During the registration period)
will get a free mystery gift. Meals are not included.

www.ParadeOfExperts.com
Register at the Front Desk for an Early Bird price.
We are inviting selected sponsors for this event!

Advertisement (This is NOT a TBREIA sponsored event):
Dollar-Wi$e Deal Making with Marge Coffing on Saturday January 21st 9a-5p at the Comfort Inn Executive Center, 3580 Ulmerton Rd. Clearwater

Do you want maximum dollars for your efforts? Come to this workshop to learn how “The REAL Ms. McCoy” uses strategic negotiating skills, innovative techniques, and the right paperwork to structure transactions for profit both now and later. See how common sense and purposeful actions will put Money into your pocket!! Put that deal together—Dollarwise!!

• Build an Investor Contract with sophisticated strategies and clauses
• Position yourself to structure the best deal for your situation
• Identify when to lease-option and when to buy
• Use leverage to magnify your financial advantage
• Avoid the financial and non-financial problems that cost you $$
• Divide the desirable problems to conquer the deal
• Outfox the "third party" deal killers
• Negotiate away problems and convert challenges to cash
• Apply the 8 rules for successful deal making
• Be in control of the circumstances and prepared with the paperwork to do business
• Use control instead of ownership to make money
• Develop ongoing income streams
• Know when to talk, when to balk, and when to walk
• Negotiate profit and cash flow "going in"
• Make a seller happy to put money into your pocket

Saturday January 21st 9a-5p
TBREIA members preregistered $59
Nonmembers preregistered.……. $79
At the Door……………………….$109

This is not a TBREIA sponsored event.
To register please call Marge Coffing directly at (866) 356 - 1214