Meetings and Events
7:00 P.M. See you then!
Come at 6:30 P.M. to
network & see vendor tables for raffle ticket
P.M. to network & see vejjj
Speaker: CPA David Lindgren
with Wipfli LLP CPA's
Join us as David discusses
every aspect of tax laws and how they are used
world including deductible expenses,
from a sale, depreciation, expensing vs
capitalizing, 1031 tax deferred
also known as the Starker
exchange), and finally new
2018 tax law changes and how they will impact
Letter from the President
Happy New Year to all! Again welcome to members that have recently joined the RAA.
We are a volunteer organization that strives to educate and inform its
membership advocating for them on the state and local level. We always
welcome more help and volunteer work from any members that are willing to
give some of their time. Catch any board member at our general meeting or send
us an email. Thanks in advance!
As we have said good bye to 2018 we embrace 2019 hoping that the expanding
economy brings more good paying jobs to our region. Good paying jobs means
more people renting and more people renting means positive pressure on the real
estate market ultimately raising property values. For those of us who have
weathered the last ten years of first rapidly declining, and then stagnant property
values, the economic upswing is a welcome sight. Property values for most of us
in the business are key to our retirement plans. Fortunately cash flows remained
level and allowed us to make a living along the way. The greater Rockford area
has been slow in recovery lagging well behind the rest of the country. We can
debate the reasons why but the more important message is this! No matter what
the economic conditions anyone willing to work hard can be successful in the
residential rental market and if you’re just starting out there are always deals to
be had. The beauty of the residential rental business is that you can start small
and build your portfolio has large as your ambition. A few pieces of advice; your
success in any business relies on work ethic and sweat equity. Starting out sweat
equity is the key but it is it remains your friend forever. Always pay down any
mortgage debt in 15 years or less. Principle pay down equal’s equity, equity
equals leverage, and leverage equals buying power! You can keep your rentals filled
in any neighborhood if you make them look nice. Always keep in mind vacancies don’t
add to cash flow so keep your rents fair and finally I prefer to hold assets as
rentals vs flipping because the wealth building is greater and easier to defer
capital gains tax. This is the strategy that has worked for me.
Last month was our Christmas party and it was wonderful as usual! Thank you
Muffy and all the volunteers that pitched in to make a great event. It’s a great
way to enjoy good food and meet other members sharing experiences and ideas.
Our January 15 th meeting topic is “Tax Laws” with David Lindgren who is a CPA
Wipfli LLP CPA’s. Among many things David will be discussing the 2018 tax law
changes presenting information on the benefits to being a corporation verses a
sole proprietor. With the corporate tax rate change does it make sense for Sole
proprietors to incorporate? He will also cover 1031 tax deferred exchanges,
deductible expenses, when do you capitalize an expense, record keeping and
many other topics. Come and join us as this will be an opportunity for you to ask
questions and get answers. The timing on this topic is perfect as many of us are
gearing for filing.
Hope to see you all there!
Karl Fauerbach, RAA President
City legal memo to council for Chronic
Memo from Di
Monte & Lizak on Home Rule authority re Ordinance
Apartment Association Monthly Meetings
Set aside the
3rd Tuesday of the month at 7:00 P.M. to join RAA for its
monthly meeting. The educational and entertaining meetings
feature guest speakers who share their expertise in ALL
aspects of the apartment and multi-family business.
The meetings are held at the Rockford
Area Association Of Realtors 6776 E. State St. with two
hours of jam-packed information, you'll be glad you joined the
group. The price is right at $15 for non-member and free, yes,
FREE for Rockford Apartment Association members.
There are no
regular RAA meetings in June, July, August or (December
however, we may schedule an activity so be sure to check back
or call RAA for updates.
RAA meetings are also a great place to network with other
owners and managers who are always willing to share their
experiences. Learn from the landlords and managers who have
been in the business for a lifetime. Lend support to others
who can benefit from your experiences. Join us at our next RAA
meeting. It's where the most successful multihousing property
owners in the northern Illinois area gather together.
Stay aware of everything that is happening in the northern
Illinois area by checking RAA's website often! Our guest
speakers will be announced as well as topics on the agenda.
*Educating Landlords for over 30 Years*
Check out our Facebook link!
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