On Tuesday, April 5th the Omaha REIA held their monthly meeting. The event was led, as always, by Ted Kaasch. Kaasch has been the Managing Director of the Omaha branch of the Real Estate Investors Association for the last two years, as well a partner and team leader for DVG Realty at kwELITE, a leasing real estate company based in Omaha since 2009.

The event featured  guest speaker Charles Tassell, Chief Operating Officer of the National Real Estate Investors Association. Tassell, who has been COO for the past seven years,  has consulted on public policies for over twenty-five years; authorized several pieces of legislation across the country; has invested in banks, car washes, and apartment units in multiple states; and is the Lobby Works LLC out of Cincinnati, OH.

Tassell spoke on many different points, generally focusing on government affairs and how they affected investors and developers. “Even when they try to help us, they don’t always do it right.” he said, referencing the Renters Assistance Bills the government had enacted during COVID. Between the two bills, the government gave nearly $50B nationwide to state governments. “However, the second bill had a caveat” Tassell explained, which allowed state governments to retain the money in state surplus in lieu of giving any to property owners.

He discussed the limits on background checks and how the government limits the stipulations one can have when picking and choosing renters. “You cannot say ‘No Felons’. Doesn’t work. What you can say is ‘No Felonies for the Last 10 years’. ‘No One Who Writes Bad Checks’.” He also touched on the concern of whether or not a service animal or emotional support animal is actually trained, or whether the owner is simply lying to force the landlord to allow them on the property.

Tassell drove home the importance of getting involved with your local government and community, and both making yourself a resource for your officials as well as using them as a resource yourself. He stressed the importance of keeping an ear to what the government was planning and how it would effect your neighborhood. 

He hit on how important it was to network and use other REIA members to improve yourself and build your business. “You’re able to tell each other ‘this is a good idea’, this is a bad idea’. That’s part of the value of being a REIA.” said Tassell. “You’re helping each other and making yourselves stronger.”

Tassell took the time to explain the COVID-19 Renters Assistance Bills, known as ERA1 and ERA2; the Voting Rights Bill; the Eviction Tracking Bill; Section 8 Reform; the Solar Finance Bill; and ‘Yes In My Back Yard’, the pro-housing movement to counteract ‘Not In My Back Yard’. He also explained the continuing changes in lead paint laws and radon checking that the EPA has routinely updated.

He finished the event with a Q&A portion, where he discussed FHA setting the market so that investors can’t buy properties for the first month of availability; wholesalers and the likely regulations that will be placed on them and rent-controlled properties; the effects the war between Russia and Ukraine will have on the economy and inflation; and how to keep track of inflation when so many sites online are focused on generating clicks. 

The event was sponsored by Frankel Zacharia LLC, an accounting firm that has been serving Omaha since 1959; JM Real Estate Capital, an organization based out of Atlanta that provides capital for real estate investors; and the Daily Record. All members of the Omaha REIA get premium discounts with over seventeen companies who sponsor the organization, including 20% off on their subscription to the Daily Record.

Omaha REIA hosts members meetings on the first Monday of every month, with a meet-and-greet brunch held on the third Friday of every month. For more information about the group, you can check their website at omahareia.com, email them at info@omahareia.com, call them at 402-990-9976, or listen to their podcast “REIA Radio Show”. An audio version of the event will be put on their podcast 22nd.