* Mike began with the essentials of being a Real Estate Investor and how everyone taking his course “How to Become a Real Estate Investor in 12 Easy Lessons” knows the Contract to Purchase, Purchase and Sales Agreement, How to Option and Assign property along with many other skills. Also what the 5 essential ingredients of a Contract are, whether it’s 19 pages or written on a cocktail napkin. He also covered a Mortgage Rate sheet for 15yr, 30yr and 30 yr FHA (that’s Owner/Occupied and low (3.5%) down payment) also 3, 5 & 7yr adjustables. And the impact of a low FICO (credit) score with an FHA loan. 660 mid-FICO and above = no penalty, down to 580 = (1.5%), below 580 it’s unlikely a loan is available. Ease of an Option was reinforced by Bruce, who took all of 15 seconds to explain it and how successful he was with it.
Jane Lawson (Owner and Broker) has finished the Buy, Fix-up and Sell she started recently, if you’re interested you can check it out at 17 Beaver Street in Salem or call her at (978) 884-2026 It looked good when we saw the pictures at the meeting!
* Tom the Plumber 617-697-7330 expanded on the Gas Boiler installation programs he’s working with: 1. $500-1500 rebate. 2. Monthly savings $1.54/therm (100mbh) for gas heat while oil is still sky high at $3.49/gal (135mbh). With the efficiencies of equipment gas is about half the price of oil! 3. Increased property value with this clean, state of the art, high efficiency equipment.
* Garrett Healey the Auctioneer, WOW, seems like he’s done it all. And now he’s in the middle of the Massachusetts Casino aquisitions. Some great tips on how to get the property you want and he should be on a short video on the home page shortly!
* Rick Connor, Junk yard dog of eviction Attorneys will always try to simplify your Tenant/Landlord arrangements and resolution of your problems but we seem to make it more complicated than it is?? He gave us an update of what’s occurring in the Housing Court today and what the trend is.
See you at the Movers and Shakers Friday, October 14 and the main meeting Tuesday, October 25 (Tenant check and SEO marketing)