Creative Finance - Philadelphia area DIG Chester and Montgomery County sub-group meeting 7:00 PM Wed June 11, 2014

[Steve Babiak]

The DIG Chester and Montgomery County sub-group will be meeting 7:00 PM Wed June 11, 2014. DIG members are expected to bring their memberships; non-members can attend as their one "no membership fee" meeting (but the $8.00 admission for the room still applies) that DIG allows once per every 12 months. And we will be meeting on the second Wednesday of the month from now on in months when we actually meet (no meeting in some summer and some winter months). DIG's website:

http://digonline.org/

Note that the next meeting after this will be on Sep 10, 2014, so this is the last chance to network in this subgroup before the Summer.

For our June 11, 2014 meeting, Dennis Cline will be the presenter. The topic will be "Creative Finance for Acquisitions". Dennis is an experienced investor, contractor, RE broker, consultant and trainer (among many other things); his biography as it pertains to real estate is extensive.

Dennis Cline purchased his first investment property - a 13 unit building - in 1980 using Creative Financing. Dennis had an old line of credit that he had forgotten about from a business that he had closed some years ago. He called the bank and found out that was still available. Between some cash, the line of credit, some credit card cash advances, and the over draft line of credit on his checking account he was able to scrape up enough money to purchase the building. He was actually some $200 short at settlement but they had adjusted for the oil in the tank, charging Dennis for what was in it. When he told the Seller's Attorney that he was out of funds the Attorney asked the settlement clerk to readjust the oil and make the number work. In 2011, DIG offered a 2-day workshop on Creative Finance where Dennis was the trainer; due to popularity and limited classroom size, another workshop had to be scheduled.

Dennis has assured me he will briefly mention the SAFE Act in his presentation, in case anybody is wondering.

As part of the Q&A at the end, Dennis will also be fielding questions pertaining to just about anything in real estate.

Bring your DIG membership!

Admission is either of $8.00 or $18.00 per person. Meeting with soft drink beverages only will be $8.00. Meeting with dinner (from a limited menu) will be $18.00 and that includes soft drink beverages, tax and gratuity. Cash only, please bring small bills if possible! Cash bar tab available for those who wish to have something other than soft drinks.


Please RSVP by posting in this thread if you plan to attend. Since the room being used is smaller than the one we had in Royersford, if you are coming, we really would appreciate getting your RSVP so that we can arrange the seating in the best way ahead of time. See you June 11, 2014!

@Dave Van Horn can often be found attending at this subgroup, as well as some other BP members. But lots more attendees are not BP members. Seems we had a handful of BP members at last month's gathering. As the sub-group name and thread title suggest, most attendees are investing or residing in either Chester or Montgomery County. But we get attendees from the Philadelphia area in general too.

In the interest of full disclosure, there will be no selling in this room, but attendees will be told how to use the DIG website to order the materials from the two-day workshop recorded in 2011.