INDIANA's
Premier Real Estate Investment Group across Central Indiana

MARION COUNTY EXTENDS STAY AT HOME 4/1/2020:

https://fox59.com/news/coronavirus/marion-county-to-extend-stay-at-home-order-through-may-1-close-golf-courses-beginning-april-3/

INDIANA SUPREME COURT 4/1/2020:

Five Supreme Court Orders Adjust Court Operations

• Order in case 20S-MS-236 suspends language that might prohibit notaries, court reporters, and others from administering oaths to witnesses by remote video. Open order >>
• Order in case 20S-MS-237 identifies conditions under which wills and other estate-planning documents may be signed by witnesses and testators remotely. Open order >>
• Order in case 20S-MS-238 provides direction on the impact of emergency orders on critical family law matters like child support, child custody, and parenting time. Open order >>
• Order in case 20S-MS-239 relaxes the maximum number of allowed online hours for attorney and judicial officer education, which means more professional requirements can be met through distance education rather than in-person learning. Open order >>
• Order in case 20S-MS-240 extends the deadline for filing an application to take the July 2020 bar exam. Open order >>

Courtesy of Jeff Jinks Law.

INDIANA STATE SITE:  https://coronavirus.in.gov/

COVID-19 SOURCE FOR CARES ACT 4/1/20 PER U.S. CHAMBER OF COMMERCE:

https://www.uschamber.com/sites/default/files/023595_comm_corona_virus_smallbiz_loan_final.pdf

COVID-19 --- WEDNESDAY WINS Video with Brian Snider and Amie Lieurance -- Some Good News from Indy.  Check our Cireia youtube channel every Wednesday.  If you have some good stories to share, email them to Brian, Amie, Rachel or Vickie.  Stay safe everyone.

https://www.youtube.com/watch?v=j6kgkFWUl10&feature=em-uploademail

COVID-19 UPDATE ON CARES ACT FROM SARAH HOLTRUP, CPA:

Sarah has put together an excellent power point presentation.  Click here:  https://vimeo.com/402536346

COVID-19 REMINDER FROM CIREIA EXECUTIVE DIRECTOR:

Video from Vickie Perry. Ph:  317-670-8491  Em:  ExecutiveDirector@cireia.club

Click here for video:  https://www.youtube.com/watch?v=CBj3etPWcpo&feature=em-uploademail

COVID-19, SBA AND CARES ACT UPDATE 3/30/2020:

As the Official Chapter for National REIA in the Greater Central Indiana region, we get alerts and updates about how the current situation, advice from HUD, regulations, and legislation affect us as real estate investors including SBA links.
 
If you are a rental property owner, rehabber, or any type of real estate investor, you will find benefit from this resource.
 
Here is the link to the advice and guidance that National REIA provides to us:
https://nationalreia.org/covid-19-updates

Don't forget - CIREIA will continue to host meetings, events and subgroups on-line during this containment.  You must pre-register so you can receive access links.

COVID-19 UPDATE 3/25/2020:

Per the IndyStar today.  CONTACT YOUR LENDERS to see what they can do to help you.

Landlord aid could reduce evictions

The Federal Housing Finance Agency announced Monday that Fannie Mae and Freddie Mac will offer property owners payment plans in an effort to stop landlords from evicting those unable to pay rent due to the impacts of the coronavirus outbreak.

This applies to properties with Fannie Mae- or Freddie Mac-backed multifamily mortgages. Property owners will be offered forbearance with the condition that they suspend evictions for the duration.

“Renters should not have to worry about being evicted from their home, and property owners should not have to worry about losing their building, due to the coronavirus,” FHFA Director Mark Calabria said in a written statement. “The multifamily forbearance and eviction suspension offered by the Enterprises should bring peace of mind to millions of families during this uncertain and difficult time.”

COVID-19 UPDATE 3/23/2020:

UPDATE PER JEFF JINKS, ATTORNEY FOR INstateREIA - 

1.       See this link to determine local court procedures during the current situation.   This site is established by the Indiana Supreme Court and is updated daily at 9:00 a.m. and 3:00 p.m.  Courts.in.gov/covid

2.     Here is the ACTUAL court order language governing procedures in Marion County Circuit and Superior Courts, Hamilton County, and the Marion County Small Claims courts. 

Essentially, all deadlines are being "tolled" or suspended until either April 6 in Marion County or May 4 in Hamilton County. All of this is subject to change. 

Here is the relevant portion of the Order for Marion County matters. The Hamilton County Order is identical, but for the dates. 

The Court authorizes the tolling, beginning March 16, 2020 and until April 6, 2020, of
all laws, rules, and procedures setting time limits for speedy trials in criminal and
juvenile proceedings, public health, and mental health matters; all judgments, support,
and other orders; and in all other civil and criminal matters before the courts of
Marion County. Further, no interest shall be due or charged during this tolled period.

3.      Legal Services and Courts considered Essential Services in the Governor's executive order today. The order includes Accounting, insurance, real estate. Per the ISBA:

Governor Eric J. Holcomb has deemed legal services as essential business operations, and thus exempt from the Stay at Home executive order he issued at noon today. The order takes effect at 11:59 p.m. March 24 and lasts through 11:59 p.m. April 6.

Other professional services exempt from the order include: accounting services, insurance services, and real estate services (including appraisal and title services).

In addition, the order exempts judges, court personnel, and certain other judicial branch stakeholders—along with Essential Government Functions as determined by each governmental body—from the limitations of the order.  

Our work is not done, however. We recognize that e-notary is a major concern for all Hoosiers, and especially our members. We continue coordinating with Governor Holcomb's Office and the Indiana Secretary of State's Office to accelerate that timeline.

COVID-19 INDIANA STATE EVICTIONS AND FORECLOSURES 3/20/2020:

https://www.theindianalawyer.com/articles/evictions-foreclosures-stalled-but-housing-worries-continue

COVID-19 UPDATE 3/20/2020:

In the midst of COVID-19,  no in-person meetings will be held for now.  CIREIA is still here providing you with classes, training and coaching by moving everything to virtual on-line access.

Please check the calendar of events on our website for details on each meeting, class or event. 

As the situation evolves, we will do our best to keep you informed.

FOR CURRENT COVID-19 information please click on this link to reach the National REIA website for national updates that have been verified by National's legal and legislative staff.   There is a button on their home page:  COVID-19.   Go to:  https://nationalreia.org/

IN THE MEANTIME - we have been advised to suggest to you that now is the time to increase your communication.

Make 3 calls immediately.

1) First to your lenders and bankers. We are advised that lenders may be extending grace periods, possible interest only payments and multiple other actions to help with your payments. BUT YOU WON'T KNOW what they are willing to do to help you unless you call them. Reach out today.

2) Second call - Call your tenants.  Find out how many of your residents are impacted by this event.   Work with them.  When you talk to your lenders in another month, lenders are going to ask for your numbers. What percentage are COVID-19 impacted?  Start collecting this information now.

3) Third call - Call your staff and contractors. What are their situations? Who can work? Figure out what repairs must be done due to health and safety issues. 

Remember, many buyers and sellers are still out there.  Many lenders are still lending.  Be simple.  Be kind.  We will get through this.

For beginners - now is a good time to work on your education and make your plans.  It's also a good time to book a telephone chat with our Executive Director.  Vickie flipped her first house in 1981.  To schedule a phone appointment, email her at ExecutiveDirector@cireia.club.

Thank you and best wishes to all.  CIREIA Club Board of Directors

CIREIA:

Central Indiana Real Estate Investors Association (CIREIA CLUB) is the largest and most-trusted real estate investment group in Indiana that has continuously helped investors for more than 30 years.  Our passion lies in providing value-loaded networking and education for real estate investors and anyone who wishes to enter the real estate industry.   At CIREIA, integrity and high ethics are interwoven into everything we do and within our community.  Our commitment is to help our members be the ‘gold standard’ in our industry.

CIREIA is also a premium sponsor of the Indiana State REIA, the legislative voice for our industry.  As a group of flippers, landlords, note buyers & sellers, wholesalers, lenders, service providers...  we understand that legislation enacted locally, statewide and nationally directly affect our businesses.  Our goal is to work with all to enact legislation that is equally beneficial to our members and to the public.

Elizabeth Maora Sickels announces new Vacation Rental Classes on line:

Did you ever think about your own short term rental/vacation rental business? We're super excited to announce Vendor Member, Subgroup Leader, Affiliate and National Speaker/Trainer/Coach Elizabeth Maora has launched EM University!! It's an all encompassing online course to teach you how to start your own short term rental business. Per Elizabeth, "We left no stone unturned, the good, the bad, the ugly and the magnificent is all included!!!" 

To enroll, use the code:  CIREIA

CLICK HERE FOR DETAILS AND TO ENROLL

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Indiana State REIA hosted successful 

3rd Annual Conference

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MONTHLY NEW MEMBER ORIENTATION:  2nd Wednesday of each month.  Be sure to check the Cireia EVENTS Calendar before  going to all events.  Most are taught by volunteers and last minute changes can happen.  Changes are posted on our Calendar and if you have pre-registered, you will receive a text regarding the change.