Dec. 15, 2005 Edition

New Political Targets: Colorado & Illinois

Consumer Groups are working hard to put you out of business!
By John Grant

John Grant

The National Association of Responsible Home Rebuilders and Investors (NARHRI) has recently become aware of several states that are prepared to introduce legislation that could regulate the real estate investing industry out of business. The legislation would restrict investors from purchasing homes in foreclosure and restrict the utilization of subject-to and lease/option transactions.

Colorado and Illinois are the latest venues for this legislation. Legislation restricting the purchase of homes in foreclosure and subject-to and lease/option is expected in the following states (and likely more to come): California, Colorado, Florida, Georgia, Illinois, Massachusetts, Michigan, Nevada, New York, North Carolina, Ohio, Oklahoma, Virginia, Washington and the District of Columbia.

This is a direct result of an organized, well-funded, national campaign orchestrated by consumer groups. The only rational response to this is an organized, well-funded, national campaign that represents the interests of the real estate investing industry. Trying to fight the well-orchestrated consumer group campaign like a disorganized insurgency hurts the industry as a whole and has absolutely no chance of long-term success.

I am encouraging the entire industry to organize under NARHRI and let us lead the effort to stand up for the industry. If the industry supports NARHRI, we can get our lobbyists on the ground in the states. If the industry supports NARHRI, we can hold meetings with the Attorneys General to educate them about the industry. NARHRI has the infrastructure ready to go, we simply need the membership and funding to support it.

Donations Top $300,000

Franchisees contribute another $36,000 for D'Angelo Foundation

During the recent HVA Annual Convention, HomeVestors franchisees contributed more than $36,000 to The Ken D'Angelo Foundation, pushing the Foundation's coffers over $300,000!

"Originally, we had planned to raise $250,000 in 2005," explained John P. Hayes, chairman of the Foundation, "but we surpassed that goal in August when we raised $170,000 at a casino night. "HVA contributed another $100,000, so we were just $30,000 shy of $300,000 when we went to Denver for our convention," said Hayes.

The Foundation was established in 2005 to memorialize HVA Founder Ken D'Angelo, who died last January. The Foundation will provide scholarships for college students who are studying franchising, entrepreneurship or real estate. The Foundation will also make contributions to the Mayo Clinic for bile duct cancer research.

A list of all donors will be released in the near future. Meanwhile, contributions are still being accepted. Visit the Foundation's website (www.kendangelofoundation.com) for more information or contact Vonda Mathews at 972-761-0046.

The scholarship application is now available on the website and the first scholarship will be granted by Fall 2006.