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“The Money Multiplier”

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By Bruce Kellogg

The Practice of Infinite Banking

For over 200 years the elite have been implementing a tool called the Infinite Banking Concept (IBC) to build wealth through their own debt and expenses they already have. This concept is described in the foundational book, Become Your Own Banker by the late R. Nelson Nash. By practicing IBC, we now have a system and powerful financial tool to get back all of the money for every product and service we will ever purchase in our lifetime.

Brent Kesler

Brent Kesler was a Chiropractor and Chiropractic coach for over 14 years. After implementing IBC, Brent paid off $984,711 in 3rd party debt in 39 months. In fact, Brent became so passionate about how powerful this concept was, he began sharing it with others and thus changed his path. Brent’s main goal in making this move was simply to help more people understand how to manage and grow their wealth. For the last 8-plus years, Brent has been lecturing to thousands of people around the country on the dynamics of IBC and helping individuals break the bonds of financial slavery they don’t even realize they are in. He teaches how to take back control of your financial life and to stop doing business with the banks. Brent has a passionate belief that whether you make $10/hour or $10,000/hour you should know IBC and have this powerful information to keep control of your own money.

How It’s Done

We are creating a specially-designed, specifically-engineered platform to practice the Infinite Banking Concept. This vehicle is customized based on each individual’s needs and resources. You will be using this vehicle to make all of the transactions you are already doing in your life (paying bills, buying cars, purchasing houses, making investments, etc.) Think of IBC as the process to make those transactions/investments all without having to change your cashflow, work any harder, take any additional risks, or lose control of your hard-earned dollars; we are just adding 1 simple step to your financial life. You see, you want to be in 2 businesses in your life: the business that produces your main source of income and the banking business, the business that finances everything you do throughout your life. We all have access to the same financial tools; the wealthy just use these tools differently. Now that I know how the wealthy have been using these tools for over 200 years, I am going to continue to play the game right along with them.

Benefits

  • Keeps Money in the Family.
  • Control of Your Cashflow.
  • Recapture Money.
  • Protected from Judgements and Lawsuits in Most States.
  • Build Tax Free Wealth.
  • Creating a Legacy.
  • Earn Uninterrupted Compound Interest.

Getting Involved

Visit our website and view Brent’s presentation on this powerful financial concept: www.moneymultiplier.com/memberarea/

After you have watched the 90 minute presentation, schedule a call with Brent to get all of your questions answered and explain your personal situation by scheduling with him here: https://go.oncehub.com/BrentKesler/

Email – brent@themoneymultiplier.com
Cell – 785.248.9637

BONUS: Chris Naugle (client/colleague) and Brent Kesler, together they have written the book, Mapping Out the Millionaire Mystery. This is a 2020 spin off of Becoming Your Own Banker. You can purchase it by visiting here: www.themoneymultiplier.com/books/

**By mentioning this article, we will send one to you FREE (just pay shipping)

Bruce Kellogg

Bruce Kellogg has been a Realtor® and investor for 38 years. He has transacted about 800 properties in 12 California counties. These include 1-4 units, 5+ apartments, offices, mixed-use buildings, land, lots, mobile homes, cabins, and churches.

Mr. Kellogg is a contributor and copy editor for two national real estate wealth-building magazines: Realty411, and REI Wealth Monthly. He is a recipient of an Albert Nelson Marquis Lifetime Achievement Award, listed in Who’s Who in America – 2019.

He is available for consulting with syndication, turnkey, joint-venture, and other property purchasers and note investors nationally, and other consulting assignments. Reach him at brucekellogg10@gmail.com, or (408) 489-0131.

Fire Your Real Estate Banker!

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By Mark Willis, CFPⓇ​
Lake Growth Financial Services

“A banker is a fellow who will lend you his umbrella when the sun is shining, but wants it back the minute it begins to rain.” — Mark Twain

Ain’t that the truth? As we look ten years back on the Great Recession, we can see how much has changed, and how much more has stayed pretty much the same. Home values are up again to 2007 levels. Unemployment is down to pre-crisis levels. The stock market is hitting record highs as I write these words. And yet, not much has changed since 2008 or since Mr. Twain wrote those humorous words – bankers control the money supply, and just when you need the money most, they are there holding all the umbrellas.

I have no problem with bankers, personally. Some of my best friends are bankers!

In fact, as investors we’ve been taught to use “other people’s money” (also known as OPM) as leverage to help us gain traction in real estate or to get ahead in our business. Other solutions include getting a business line of credit to buy new equipment, or securing a mortgage on an investment property to renovate and flip a property. These are the standby solutions used by many Americans.

But ask yourself – who are the “other people” when OPM is your strategy for leverage? (Remember, leverage can work both ways – for ​and​against you!) And what do other people want so badly that they’re willing to part with their money and hand it to you? Were you just handed an umbrella on a sunny day?

When banks control the environment where your money lives, they win every time. When you control the financial environment in which your money lives, you win.

34% of all American income goes to servicing debt. If time is money, as the old saying goes, that means a full one-third of the day is spent working as slaves to a bank! Think of how many folks you know who are in debt up to their eyeballs and working 60+ hours a week, or stressing over non-paying tenants, or feverishly rushing from property to property, hoping they can sell a property before the balloon payment comes due.

For many real estate investors, the road to becoming a wealthy landlord turned south toward the highway of serfdom, with their banker holding the upper hand.

Is there any other way? How can someone who has skill and passion for real estate or their business keep control and a sense of sanity amidst a world gone insane? Is there a way to break free of financial slavery to the banks?

Yes, it’s simple.

Fire your banker!

Where is it written that you have to service your debts and pay off a banker before you can enjoy the fruits of your investment? Who says you have to pay interest on your properties, effectively turning all your real estate assets into liabilities? Where did we get the idea that banks were the only ones who could provide the function of banking in our society?

You can be your own source of financing – you can rid your financial portfolio of your banker and provide the function of banking yourself.

How? The answer may shock you. I’m talking about a modernized form of dividend-paying whole life insurance. It works like a source of capital, a bank, to provide a guaranteed pool of money liquid and available for whatever you need. The funds you accumulate in your life insurance grow safely and predictably every year, guaranteed – no matter what’s happening in the stock market. You can use the equity in your policy like a line of credit to yourself – and you have complete control over how, when and if you pay your money back to your policy. You are in complete control of the entire process.

When most people see the words: whole life insurance, their mind turns off. Mine sure did! I was taught to avoid whole life insurance even in my earliest days as a financial planner. Since then, I’ve come to see how useful and valuable a ​properly structured, dividend-paying​whole life policy can be, when issued from a mutual life insurance company that offers non-direct recognition loans. This vehicle helps my clients overcome the inertia of opportunity cost, accumulate a powerful warchest of capital, and deploy liquid capital for their real estate ventures.

It matters where your money lives. As a CERTIFIED FINANCIAL PLANNER™ I have investigated nearly every financial strategy available to investors. Well over 400+ products are available and tens of thousands of uses of those products have been hocked and sold to folks looking for that golden goose that will just help them sleep better at night. Financial pundits and Wall Street advisors will tell you that whole life insurance is the devil, and while I’m sure I’ll be ostracized by mainstream financial advisors for saying this, I think every person should at least KNOW that becoming your own source of financing through a properly structured whole life policy is an option worth investigating for yourself. Besides, if mainstream financial advice got us into the mess we are in, maybe it’s time for a new way of thinking!

We’ve had two major market crashes since the year 2000. Do you think another one will happen in your lifetime? Do you want your reaction to the next market crash to be the same as the last one? If you’d like to not only protect yourself from the next recession, but actually anticipate and take advantage of it, prepare for it now by doing what the banks do, not doing what they tell you to do. Banks purchase a huge amount of life insurance to run their businesses. Prepare by becoming the banker by using a form of capital that banks themselves take advantage of (Google “Bank Owned Life Insurance” to see what I mean).

Imagine we’re in the middle of another financial calamity. Everyone is seeing their 401(k) values drop and real estate prices are plummeting. Your friends are nervous about losing their jobs.

But instead of fear and instead of begging a banker to lend you his umbrella, you’ve established yourself as your own source of capital, using the cash value in your properly designed life insurance policy. You’re in control. When you see the real estate values crashing, instead of fear, you see opportunity. You borrow from your own policy’s cash, and within 3-5 days your policy’s cash value is direct deposited into your bank account and you’ve got cash at closing. No tax obligations, no government red tape. You are in control.

With this kind of leverage, the kind of leverage you own, you can borrow from your policy and still have it earning interest as if you did not take the loan. You read that right. That’s a rare feature often misunderstood and overlooked by most insurance agents. And when it’s properly implemented into a policy, you overcome the biggest hurdle in the financial universe – opportunity cost, and giving you uninterrupted compound growth – what has been referred to as the 8th Wonder of the World. You can pay your policy back on your own terms, when and if you choose. Do you think that will make you more or less competitive as an investor? Could this help you with more than just investing? How about buying the stuff of life – cars, medical expenses, paying off debt… which financial situation would it NOT make sense to be the banker?

The only thing better than being debt free is to be the banker. Then you’re the one lending the umbrellas!

There’s more to this than just picking up the phone to call your local insurance guy. Most insurance agents (and certainly most Wall Street brokers) have ​never​heard of this strategy, and you don’t want to put your money with an “I’ll just Google it” advisor. If you’d like to talk to someone who has been specially trained and authorized to specifically design a Bank on Yourself policy as described above, please contact us at ​hello@lakegrowth.com​or call us at 1-800-962-9141.

Meet Your Creative Financing Experts Rebecca Rice & Jim Beam

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By Sandy Fox

Our 5th Annual Los Angeles Real Estate Investors’ Expo will feature some remarkable experts. On that day, we will spotlight Rebecca Rice and Jim Beam, industry leaders in a little-known financial area. They’ve perfected a way to turn a unique and specific kind of life insurance policy into a reservoir of money you can use to simplify your real estate investing. More than that, the strategy actually compounds and increases the ROI on your investments.

A Financial Vehicle That Compounds Your Investments

When you hear from Rice and Beam you’ll find a financial vehicle beyond what most investors use. Typically investors turn to cash, mortgages, private lending or a combination of the above. Each has its own costs and limitations.

Beam, who started as a real estate investor in Florida said, “We worked awfully hard to make our money. And it seemed like someone was always standing there at the end of the day with their hand out to take our money. Closing costs, fees, taxes, interest rates.” He felt there had to be a better way.

His search led him to Rice and her specially constructed policies. He learned a way that he could:

• Keep his money safe and private

• Borrow money at low cost or net-zero cost

• Avoid credit checks and bank approval for loans

• Gain tax-free retirement income

• Loan his business money and save on taxes

• Pay off debt faster

• Create an emergency fund that earned interest four times higher than most banks pay

He now helps other real estate investors learn how to take advantage of this system. This type of insurance policy is not new. It’s has been around for centuries and is tried and tested. Currently banks, businesses, and high net worth individuals use it to preserve and grow their money. But Rice and Beam offer a unique structure that makes it a powerful tool for even the small real estate investor.

SHE BROKE THE GLASS CEILING

Rice discovered Nelson Nash’s book, “Becoming Your Own Banker,” over 25 years ago. She recognized the revolutionary technique and became a protégé of Nash, building on his philosophy with concrete action plans.

It became her passion to help as many people as possible. “I help people see how money really works in the economy. It’s often not the way you think it does,” Rice says. “I love to show my clients how to reduce their debt in an extremely short period of time — faster than they ever thought possible.”

Through the years she’s structured Living Benefit policies for people from 21 to 93 years old. “Each is unique,” Rice says. “I’ve helped people profit who could only start with $100 a month. And I’ve worked with people who wanted to contribute a million dollars a year. Whatever your income or investment goals, you can use this to take control of your money and grow it faster and safer.”

Rice’s passion and dedication to her clients made her extremely successful. She became the first woman to be the top-performing agent at Mutual Trust. Then she went on to break the glass ceiling at Massachusetts Mutual as the first woman in its 170-year history to become the top life producer. She is also one of only three policy agents endorsed by the Palm Beach Letter, a financial newsletter.

Because she has written thousands of policies—and uses many of them herself — she knows every nuance of how to structure it to benefit you.

YOU NEED AN EXPERT

On the owner’s side, a policy looks deceptively simple and is easy to use. But the creative side takes an act of genius to give you all the benefits and advantages necessary to use it effectively in your business and investing.

Rice always learns what her client’s goals are. Then she tailors a Living Benefits policy specifically to meet those goals. Some want a pool of money to run their business. Others need free access to money for real estate investing or hard money lending. And some have their top goal to safeguard their wealth and transfer it to the next generation.

“It’s possible to accomplish all those goals without invading lifestyle money,” Rice says. Lifestyle money is what you live on after paying your bills and Uncle Sam. Rice’s brilliance is that she frees up money for you to invest from other sources. Often it’s from the debt payments you are already making.

PUTTING YOUR POLICY TO WORK FOR YOU

“The simplest way to use your Living Benefits policy is with hard money lending,” Beam says. “There are hundreds and hundreds of folks out there who are in need of hard money lending.” Beam works through organizations that send out leads for people who want to borrow the amount of money you have to invest —whether that’s $10,000 or $150,000 or more.

And the Living Benefits policy creates a vehicle to amplify the investment. “You borrow against your policy at 5% and you put it out on the street to go to work at 10% or 12% plus points,” Beam says. “But you’re still earning 5% on those same dollars within in your policy! Wow, what a platform to work from!”

Beam’s strength is that he can guide real estate investors in the best ways to take advantage of this platform for their specific goals.

There are a number of ways to take advantage of the policy. One of their clients buys HUD houses to rehab and rent.

Although her Living Benefits policy is only a few years old, she’s been able to use money from her policy to cut costs and increase returns.

• Used for a down payment for a conventional loan and saved the cost of mortgage insurance

• Used for repair costs on the house and avoided the expense and effort of a construction loan

• Kept an “emergency fund” that earns 5% or so on that money instead of a bank’s pitiful near zero rate

• Used a regional bank for a 5 year balloon loan with much lower loan origination costs and interest rates. She can do that because this system pays off the bank loan in just a few years—well before the balloon kicks in and interest rates rise

The client says, “The best part is that I end up with a house AND all the money that would have gone to mortgage payments!”

Can This Work For You?

You can learn more about investing in real estate using a Living Benefits policy when you attend national Realty411 events where Rice and Beam will be featured speakers. Plus, look for future issues with articles explaining in more depth how to increase your real estate returns using a Living Benefit policy.

Learn more with Rebecca Rice’s book, “Multiply Your Wealth: Essential Secrets for Financial Freedom.” Contact her directly (501) 868-3434 or online at www.rebeccarice.net – You can connect with Jim Beam at (239) 591-3781 or email: jbeam@lifewayadvisors.com

Taking Title

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By Garrett Sutton, Esq.

houseTitle to real estate sounds grand. As you think of titles let your mind wander back again to medieval England when titles such as Baron and Duke meant you were part of the nobility and peerage system. And not coincidentally, if you had such a title you also owned land. As our legal systems evolved, real estate title–the means by which you owned valuable property rights – remained ever so important. Because title conveyed power (and with power came corruption and fraud), a system to accurately record the chain of title developed. Over time you had to defend your title with the proper paperwork. The ‘checking system’ that evolved means that there are two steps for the transfer of title.The first step is the granting of a deed whereby the grantor transfers the property to the grantee. An investigation of the sequence of deeds to establish an accurate chain of title is then performed. If the grantor actually has clear title, according to the public records, a policy of title insurance may be issued and the property transferred. (Please note that property can be transferred without title insurance but that most banks won’t take the risk in making a loan without it.)A noticeable break in the chain of title means that the buyer–even though they believe they are the rightful owner–can be subject to the possible claims of others contesting the title. It can also mean that the property is now very difficult to sell, because future potential purchasers don’t want any doubts about clear title.

Accordingly, title insurance is important. Before insuring you against the risk of future claimants, a title company is going to check the public records to see if there are any troubling gaps in the chain of title. If gaps exist they won’t issue a title insurance policy. If they won’t issue a policy you won’t buy the property. It is that simple. Follow their lead. Transferring Title

The specter of title insurance affects the way you will transfer title to property.

There are two ways to transfer title:

1. a grant Deed. this deed (or ‘Warranty Deed’) implies or warrants that:

a. The Grantor (the person granting the property) has not transferred the property before, and that absolute ownership (‘free and clear’ title) is conveyed.

b. Unless the Grantee (the person receiving the property) agrees otherwise, the property is free from any liens or encumbrances against it.

c. Any after-acquired title (ownership that goes to a Grantor later) is also conveyed to the Grantee.

2. a quit Claim. this much weaker deed only:

a. Transfers whatever present right, title or interest the transferor may have. (If the transferor doesn’t have any rights, neither do you.)

b. No warranties are made as to any liens or encumbrances. (So if there are undisclosed mortgages against the property it’s not the transferor’s problem – as it is in a grant deed. Instead, it is now your problem.)

c. No after acquired title is transferred.While often advocated by promoters as the easiest means for transfer, the quit claim deed is not your best choice. First, know that in many bank involved ReO (real estate owned) transactions the ReO lender selling a foreclosed property will only use a Quit Claim deed.

Why is this?

It is because the lender has no idea what happened on the property prior to foreclosure. During the boom documents were not properly kept or transferred, the banking industry’s MeRS electronic recording system failed to keep up with it all, and many documents were just plain lost. This is no way to maintain a good chain of title on the nation’s real estate.

It was so bad in 2009 that a large national title company announced it would no longer issue title policies to two large national banks. These lenders’ records were just not trustworthy, and the title company was not going to take the risk. Know that for years to come there are going to be title issues arising from the real estate collapse in 2008.

It is for this reason that sellers (mainly banks) of foreclosure properties are using quit claim deeds. They don’t know what happened and they aren’t about to warrant or guarantee that they have a clean title to convey to you. The quit claim deed they use instead says, “We don’t know what we’ve got but whatever we’ve got we’re giving to you.”

What is offensive is the lengths that some of these lenders will go to get you to bite on a quit claim deed. They will tell you that it grants you full rights to the property. It doesn’t, because neither you nor the bank really knows what those rights are.

To further get themselves off the hook after taking your money for the property these banks will bury the fact that they don’t warrant good title in an Addendum at the end of a sixty page contract. They want you to waive any rights you may have in the matter. They may or may not know that the title is so defective that the property will be severely devalued. But they want you to release them from any future problems and sign off that everything is okay. There have been reported cases where the Addendum is intentionally withheld and only provided to you at the closing. (You know, at that last meeting at the title office where you are expected to sign 47 documents without reading them.) Accordingly, please be very careful and have your own attorney review such transactions.

The second reason a quit claim deed is not preferred is because the quit claim deed severs an express or implied warranty of title. (Remember, you are just granting whatever you may own which may be something, or nothing.) As such, the title insurance doesn’t follow. While this may not seem like a big deal, let’s consider an example.

garrettYou buy a property in your name. Part of your closing costs includes a policy of title insurance. Several years later you want to transfer title to an LLC for asset protection. Your friend says a quit claim deed is the easiest and quickest way to go. You file the quit claim deed and now the property is titled in the name of your LLC. Later, you learn that the boundaries weren’t properly surveyed. You seek recourse from the title company since they insured the boundaries were correct. But you now learn that by quit claiming the property into your LLC you have unwittingly cancelled your title insurance policy. The boundary issue is no longer insured.

The way to avoid this problem is to use a grant deed or a warranty deed. A title insurance policy isn’t extinguished in such a transfer. As well, a grant deed is just as easy to prepare as is a quit claim deed. But in either case, remember that easy isn’t always best. If you are not an expert at title transfers, I would have a lawyer or title company handle them.

For more information on this and other title matters, please read my book Loopholes of Real Estate or visit: www.CorporateDirect.com

The Effects of FEMA’s New Flood Insurance Law on Real Estate Investors

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featured_sharonIt used to be that if a real estate investor considered buying a property in a designated flood zone the only concern was the additional $500-$600 annual premium the new owner would face as a result of their home purchase. As you know, standard homeowners insurance does not cover flood damage so mortgage companies require purchasers to buy flood insurance. That additional monthly expense of flood insurance would be included in the mortgage payment for the purchaser.

The big question was (and still is), “How does that affect the buyer’s ability to purchase this home”? In the past it was simply, can the buyer afford another $40-$50 a month to cover the cost of the flood insurance?

Changes in FEMA’s New Flood Insurance Law

At the end of 2013 there was a change in the Federal law that caused flood insurance premiums to skyrocket. Some premiums increased ten times more than the current premiums. Sales of homes in these areas came to a standstill and pending closings on these properties were immediately canceled. Folks could no longer qualify for, much less afford, the new monthly mortgage payment.

It’s important to note that this law only affected policies taken out since July of 2012. Homeowners that already had properties in designated flood areas were unaffected by the changes where their own premiums were concerned. However, it’s a completely different story should they decide to sell the property.

Sellers with properties which were located near a body of water were suddenly forced to accept their new reality. They often couldn’t give those homes away. Even with the beautiful views, nobody wanted them because of the cost of the new flood insurance premiums.

flootxt

The Homeowners Flood Insurance Affordability Act of 2014

Legislation was introduced immediately by a bipartisan group in Congress to delay the effects of FEMA’s new law.

The Homeowners Flood Insurance Affordability Act of 2014 was intended to repeal and modify the Biggert-Waters Flood Insurance Reform Act of 2012. This new law slows the rate of increases. It also offers some relief to homeowners that were previously affected by the steep increases in flood insurance in 2013 and in early 2014.

The National Flood Insurance program’s new rates took effect on April 1, 2015. Premiums for individual policies in high risk areas increased as much as 25%. Surcharges from $25 to $250 will also be added to the cost of those premiums. The actual cost of the surcharge is based on whether the home is a primary residence or a second home. According to FloodSmart.gov the average cost of flood insurance was around $700 in January of 2015.

Implementation of the New Changes

Here is a breakdown on some of those changes that took place April 1, 2015.

Caps on Increases

I have included a screenshot of the capped rate increases for 2015 below. (Source FEMA) In most cases rates are capped at 15%. However once other fees are included, this number could actually be nearer 18% for most homeowners.

table

Maximum Deductible Allowed

The maximum deductible for a flood insurance policy will increase to $10,000 for single family and two- to four-family dwellings. This deductible must apply to both building and contents. Choosing this deductible will result in a lower premium for single-family homes, however it may not be allowed by lenders to meet mandatory purchase requirements. Before you choose this higher deductible, you will need to ask yourself if you are prepared financially to cover this $10,000 deductible if a loss should occur.

Premium Rates

• Increases for individual premiums are limited to 18%
• Increases for average rate classes are 15%
• There are different rates for the Special Flood Hazard Area (SFHA). Homes recently mapped into the Special Flood Hazard Area (SFHA) will have a lower flood insurance cost option in some instances.

You can read the entire document BY CLICKING HERE:
https://www.fema.gov/media-library-data/1414004070850-3e90be61f9762523126c385a1d7fa95a/FEMA_HFIAA_OctoberBulletinFS_100814.pdf

According to the federal flood program the average flood insurance claim in the US was about $42,000.

What Is At the Root of the Premium Increases?

Premium increases have been put in place because the National Flood Insurance Program is $24 billion in debt, in large part due to losses incurred during Hurricanes Katrina and Sandy. Folks living in coastal areas are definitely hit the hardest. In many cases the rates charged to policyholders do not reflect the actual risk of coastal living. By some estimates about 20% are supported by subsidies that keep rates lower.

It’s important to understand that not all coastal homes are owned by the affluent. Many of the homes destroyed by hurricanes along the east coast such as the ones in New Jersey were owned by working class families.

Will My Rates Automatically Increase 18% Annually?

 

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According to Realtor.org the answer is no.

It is reported that FEMA will set the rates for each year according to a cost analysis, but 18% is the upper limit on how high they are allowed to raise the rates in any given year. According to this article historically the rate increases have been about 5%.

Previously FEMA would have been permitted to raise rates as much as 40% so long as the average increase didn’t exceed 20%. Their reasoning is that the new 18% upper limit could be a significant reduction from previous rates.

How Much Risk Are Real Estate Investors Willing to Assume?

 

I don’t know about you, but in my book there is a whole lot of uncertainty when it comes to future flood insurance premiums. Whether you are a buy and hold landlord, a wholesaler whose end buyer is a rehabber, or a rehabber that intends to sell his finished house to a retail buyer, we are still back to the same questions:

• Will you be able to find a buyer for your deal?
• Will a rehabber be able to find a buyer that can afford the additional cost of flood insurance or that is even willing to assume the risk of the uncertainty of future flood insurance premiums?

Ultimately, you will have to decide whether it makes sense for your business and whether or not the risk and uncertainty is something you can live with.

Flood Insurance is mandatory in almost every case where the buyer will get a mortgage.

What You Should Do Before Buying a Property

 

check_txtIt’s not always obvious that a home is located in a flood plain, so you should always check to see if the investment property you are considering is located in one of these areas. It doesn’t necessarily have to be a large body of water. It might simply be a matter of poor drainage that lands a home in a flood plain.

You can look up your area by typing in “flood plain determination + your county. For investors in my area, you can click on the link below.

Flood Plain Determination for Jefferson County, KY

http://ags2.lojic.org/msdflooddetermination/

News Story on the Impact on Home Sales

 

I’m sure you can find similar stories like the one below for your area if you are impacted by the new flood insurance regulations.

Flood insurance rate spikes impacting Louisville home sales

http://www.wave3.com/story/23824506/flood-insurance-rate-spikes-impacting-louisville-home-sales

Resources for More Information

FEMA Fact Sheet
This sheet breaks down the major components of the new regulations.

https://www.fema.gov/media-library-data/1414004070850-3e90be61f9762523126c385a1d7fa95a/FEMA_HFIAA_OctoberBulletinFS_100814.pdf

https://www.floodsmart.gov/floodsmart/

Flooding and Flood Risks: Map Changes and Flood Insurance

https://www.floodsmart.gov/floodsmart/pages/flooding_flood_risks/map_changes_flood.jsp

Author: Sharon Vornholt

sharonSharon Vornholt is the owner of Innovative Property Solutions in Louisville, KY. She has been investing in real estate for over 15 years. Sharon is the creator of the Louisville Gals Real Estate Blog, and the popular podcast “Let’s Talk Real Estate Investing” which you can find on iTunes. She is also a mentor and coach who loves teaching others how to succeed in this business.

If you’d like to find out more about Sharon’s real estate coaching and mentoring programs, you can reach her at Sharon@sharonvornholt.com

For your FREE REPORT “Probates and Absentee Owners: Your Fast Track to Real Estate Riches”, stop by her blog at: http://LouisvilleGalsRealEstateBlog.com.

http://www.linkedin.com/in/sharon.vornnholt
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