JANUARY DECEMBER

NOREIA MEETING

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NOREIA HAPPENINGS NETWORKING OPPORTUNITY Go to neworleansreia.com and check out our calendar when and where Carol and Jessica will meet!

Real estate deals often come from networking...and who you know. Join Carol & Jessica for a fun social event!

Next one on

Thursday, February 9th 2023 See you all there!

New Orleans Real Estate Investor Association

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NOTE: NOREIA is hosting and will have a variety of appetizers, pizzas and wine but you are responsible for anything that you order.

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EDUCATION OPPORTUNITY Every month, NOREIA has an education opportunity for MEMBERS only. This is an invaluable benefit to your membership. (Join NOW to take advantage of this great opportunity) Our Instructor

David Birdsong, Attorney and Notary Public, has been involved in the real estate business as a real estate agent, real estate law instructor, title examiner and notary public for over 20 years. David graduated from Loyola University of New Orleans with degrees in Political Science and Law. He currently or in the past has served on the board of several non-profit organizations including Westbank Redevelopment Corporation, Christian Health Ministries and the New Orleans Real Estate Investors Association. David has appeared as legal counsel in various legal proceedings relating to questions regarding succession, redhibition, real estate title issues and the actions of real estate agents. David also enjoys working with real estate investors and realtors taking on the role of mentor to help them reach the next level in their business.

When is our next class?

Where can I find more information on future classes?

January 26th, 2023

You can always find any future classes on the calendar @ neworleansreia.com .

Time? 6:30 PM Where? Fairfield Inn 7 Suites by Marriott

Remember to pre-register before you come!

See neworleansreia.com .

This is MEMBERS ONLY BENEFIT!

What is the topic for our next class? Basic Class: Introduction to Real Estate

See you all there!! And Happy Learning!

Description: It will cover terminology that you'll need to know as well as tips and tricks on how to find properties to help you get started in your investing career. Start the new year off right and register today! Meeting is for members only.

Please pre-register @ neworleansreia.com There is one class each month from January through November, hosted by David Birdsong. David is a local real estate attorney who specializes in working with investors.

New Orleans Real Estate Investor Association

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NETWORKING ~ TRAINING ~ EDUCATION

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New Orleans Real Estate Investor Association

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Federally Assisted Housing Units Must Comply with New Carbon Monoxide Rule BY BRAD BECKETT

In late December, the U.S. Department of Housing and Urban Development issued a new carbon monoxide detector requirement that went into effect for multifamily properties that receive assistance from the government behemoth. According to a release from the NAA about the new regulation:

HUD posted a notice about the carbon monoxide (CO) alarm or detector requirements on Jan. 31, 2022. CO alarms or detectors must be installed in each dwelling unit or units that receive federal funding through any of the following programs:

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Public Housing

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Housing Choice Voucher

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Project Based Voucher

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Project Based Rental Assistance

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Supportive Housing for the Elderly (Section 202)

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Supportive Housing for Persons with Disabilities (Section 811)

The covered units must comply with the standards described in chapters 9 and 11 of the 2018 International Fire Code (IFC). In general, this code requires that CO alarms or detectors be installed in dwelling or sleeping units that:

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contain a fuel-burning appliance or fuel-burning fireplace;

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are served by a fuel-burning, forced-air furnace;

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are in buildings that contain fuel-burning appliance or fuel-burning fireplaces; or

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are in buildings with attached private garages.

HUD’s notice also contained information for obtaining financial assistance to help properties come into compliance. In addition, HUD’s Real Estate Assessment Center worked with the International Code Council to create a decision tree for simplifying the determination of whether a CO detector or alarm is needed. There may be funding opportunities available for properties receiving assistance through the Project Based Rental Assistance, Section 202, and/or Section 811 programs in order to assist with CO alarm and detector installation. Owners and operators of units financed through the Housing Choice Voucher or Project Based Voucher programs are responsible for costs of installation. This CO requirement is a part of larger regulations laid out in Division Q, Section 101 of the Consolidated Appropriations Act of 2021 which went into effect on Dec. 27, 2022, exactly two years after the law’s passage. New Orleans Real Estate Investor Association

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U.S. Inflation – How Much Have Prices Increased? BY BRAD BECKETT ON JANUARY 13, 2023

The Visual Capitalist reminds us that inflation has been top of most American’s minds over the past year, which they say has loomed over every aspect of the economy. But, how has inflation actually impacted the prices of everyday goods like bread and butter or gas and public transportation? Today’s Infographic takes a look at how much prices have changed over the past 12 months.

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Foreclosure Activity Doubles Annually But Still Remains Below Pre-Pandemic Levels According to ATTOM Data’s Year-End 2022 U.S. Foreclosure Market Report, there were 324,237 U.S. proper-

ties with foreclosure filings (representing 0.23% of all U.S. housing units) in 2022. This figure was up 11% from 2021 but down 34% from 2019 – before the pandemic shook up the market. In addition, in 2022 foreclosure filings were also down 89% from a peak of nearly 2.9 million in 2010.

“Eighteen months after the end of the government’s foreclosure moratorium, and with less than five percent of the 8.4 million borrowers who entered the CARES Act forbearance program remaining, foreclosure activity remains significantly lower than it was prior to the COVID-19 pandemic…” “It seems clear that government and mortgage industry efforts during the pandemic, coupled with a strong economy, have helped prevent millions of unnecessary foreclosures.” Said Rick Sharga, executive vice president of market intelligence at ATTOM.

Your NATIONAL REIA: Go to nationalreia.org for more articles and information on vendors. Side note: You will see our very own Nick Zepeda on the front website page.

According to ATTOM Data’s Year-End 2022 U.S. Foreclosure Market Report, there were 324,237 U.S. properties with foreclosure filings (representing 0.23% of all U.S. housing units) in 2022. This figure was up 11% from 2021 but down 34% from 2019 – before the pandemic shook up the market. In addition, in 2022 foreclosure filings were also down 89% from a peak of nearly 2.9 million in 2010.

“Eighteen months after the end of the government’s foreclosure moratorium, and with less than five percent of the 8.4 million borrowers who entered the CARES Act forbearance program remaining, foreclosure activity remains significantly lower than it was prior to the COVID-19 pandemic…” “It seems clear that government and mortgage industry efforts during the pandemic, coupled with a strong economy, have helped prevent millions of unnecessary foreclosures.” Said Rick Sharga, executive vice president of market intelligence at ATTOM. New Orleans Real Estate Investor Association

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With Membership in ProXtra, you get access to benefits tailored specifically for Pros: exclusive savings, dedicated service, job-lot quantities, volume pricing, same-day delivery, and more. It's the Home Depot way of showing how much they understand your needs and value your business. Download the enrollment guide to sign up today or follow the steps below. Sign Up Go to homedepot.com/c/pro_xtra and click on "Join Now". Or Text "Pro Xtra to #433768 for registration link via text. 1. Create Account Complete required fields and check the box for "Yes, enroll me in the Pro Xtra loyalty program", then click "Next" 2. Complete Registration Enter in your company information into the required fields, select your Business or Trade type, and click "Register for Pro Xtra" 3. Access Account Profile Click the drop-down menu in the top right of the page and select "Account Profile" 4. Scroll to Pricing Scroll down the page and choose "Pricing" from the left-hand menu 5. Scroll Down to National Account Incentives Choose Learn More Then, enter in Agreement code NREIA. Hit validate code

6. Access Cards & Accounts Click the drop-down menu in the top right of the page and select "Cards & Accounts" 7. Add Forms of Payment Register any form of payment accepted at The Home Depot- including checking accounts, credit cards, debit cards, and THD accounts. Email [email protected] to make sure your account is set up properly and that you are escalated to Gold Status for your 20% Paint Discount.*Enrolled members must spend a minimum of $5,000 every 6 months (Jan-Jun, Jul-Dec) to be eligible. Your rebate will be issued biannually, within 60 days following the biannual rebate periods 6/30 and 12/31. All rebates issued that total up to $1,000 will be paid by a Home Depot gift card.

Paint Program Receive your 20% off Paint discount on Interior and Exterior Paints and Primers including all of the Home Depot quality paints - Behr, Kilz and Zinsser (1-gallon minimum purchase required) All you have to do is key in your primary phone number associated with your HD Pro account into the keypad at checkout. Email [email protected] to make sure your account is set up properly and that you are escalated to Gold Status for your 20% Paint Discount.

New Orleans Real Estate Investor Association

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NATIONAL REIA BENEFITS

Go to nationalreia.org for more vendors!

New Orleans Real Estate Investor Association

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Our Vendor Members How to Get a NOREIA Classified Ad: Classified Ads are available to Vendor Members only. Vendor membership provides for advertising in this monthly newsletter, promotion on our NOREIA website as a vendor member, ability to promote on our vendor member tables at the monthly General Membership meetings, as well as a chance to speak before our Association members. If you have a real estate related business, you should seriously consider becoming a vendor member. It’s cheap, and effective. See the vendor membership director @ our meetings to get a vendor membership application!

New Orleans Real Estate Investor Association

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COMING SOON New VENDOR NORTON ACCOUNTING SERVICES

New Orleans Real Estate Investor Association

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The New Orleans Real Estate Investors Association, Inc. P.O. Box 8064 Metairie, LA 70011 (504) 345-9102 www.neworleansreia.com

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We are a chapter of nationareia.com. Please visit their site to see what additional benefits our members have.

For more information about NOREIA, please go to neworleansreia.com

Your NOREIA Board Members for 2022-2023 JACK STERNBERG

OPEN

Jessica Manzella

PRESIDENT

MARKETING

VENDOR MEMBERSHIP

LINDA LOCASICO

NICK ZEPEDA

PROGRAMMING

TECHNOLOGY/ MEETING NIGHT OPERATIONS

NICK ZEPEDA VICE-PRESIDENT SECRETARY Acting: Angela Kindermann

Betsy Birdsong

CAROL LEGRECO COMMUNITY LIASON

Executive Assistant to NOREIA

TREASURER

DAVID BIRDSONG OPEN MEMBERSHIP

Angela Kindermann

LEGAL AFFAIRS

If you have interest on being on the BOARD , please talk to one of the Board members.

New Orleans Real Estate Investor Association

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New Orleans Real Estate Investors Association (NOREIA) is an educational organization that seeks to provide many opportunities to its members and guests. As an individual, it is your responsibility, and NOREIA recommends, that you investigate and verify the validity of these opportunities and consult with a professional such as your Attorney or Accountant before buying any programs and/or investing as it is possible to lose money investing in real estate. NOREIA makes no warranties or guarantees regarding any offerings by members or vendors.

Disclaimer: This newsletter is distributed with the understanding that the publisher is not rendering legal, accounting, or other professional services. Investment decisions depend upon an individual’s facts and circumstances and should be made only after consulting with appropriate, competent professionals. NOREIA does not endorse any advertisers in this publication.

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