Meetings and Events

Next meeting: Tuesday 1-15-19 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

Tax Laws

Speaker: CPA David Lindgren with Wipfli LLP CPA's
Join us as David discusses every aspect of tax laws and how they are used in
 the real estate investment world including deductible expenses, 
capital gains from a sale, depreciation, expensing vs capitalizing, 1031 tax deferred
 like kind exchanges( also known as the Starker exchange), and finally new 
2018 tax law changes and how they will impact you! 

_________________________________________________________________________


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


 

_______________________________________________________________________________


1-28-12
City legal memo to council for Chronic Nuisance Ordinance
            1-22-13
Memo from Di Monte & Lizak on Home Rule authority re Ordinance

_______________________________________________________________________________

                       About Rockford 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 Christmas Party), 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!

After you log in just type (Rockford Apartment Association)
 in the search bar: Facebook.com

                   ___________________________________________________________________________


If you're looking for an organization for owners and managers
of single and multi-housing properties in Northern Illinois
... RAA is your best choice...