Our next meeting Tuesday, November 25 6:30 – 9:00pm – Auctioneer, Web developer and Email campaigns. (of course Buy/Sell/Networking, light refreshments and YOU too.
Deal of the week: I’m probably in 10-20 Open Houses & Broker Only Tours per week in my “farm” (Cities/Towns where I focus on investing) area and rarely do I see anything that’s Priced reasonably. So yesterday when I did see something I let Robbie ([email protected] cell 781-258-5216) know for her “A” list of potential buyers. It’s a multi family in Swampscott that’s in good shape and I believe with the right financing can “cash-flow positive”. You may want to contact her sooner rather than later because despite the seasonal slowdown I don’t think this will last!
On another front, according to Corelogic (who bundles analytics) despite the cooling down of the Real Estate market, cash sales are down overall from 40% to 30%. This indicates to me that prices are heading back to Retail vs the Wholesale prices we’ve seen. Furthermore MIs (private mort*gage insurers that guarantee high LTV deals from default) are really pushing their 3-5% downpayment programs to open housing to more buyers. Can higher rates be far behind? Need to shorten a term or pull some cash out? [email protected] cell781-405-1845
Winter checklist: trim those trees near the roof and rest of the house. Replace any missing roof shingles. Clean out the gutters after all the leaves have fallen. (get the method? I look at houses this way to evaluate them – from the top down!) Caulk all the windows and frames. Repair the driveway, walk and railings.
Tune up your heating system and change any filters on oil lines or forced hot air. Make sure you can get to Shut-offs for gas, electricity and water. Make sure your tenants know where these shut-offs are. Might also be a good time to replace Smoke/Fire alarm batteries and make sure you’ve got low-flow shower heads, faucet aerators and no running toilets.
Maintain contact with at least one Plumber/gas-fitter, Electrician and Carpenter.
Tom 617-697-7330 Plumbing/heating
Jim 781-405-1980 Master electrician
Mike D. 781-838-1247 Roofing, Siding and Carpentry
(might be good to get a relationship with your contractors on a small before you need them in an emergency? You don’t want to grind these guys on rates or estimates because then when you need them…)
I look forward to seeing you at our next meeting Tuesday, November 25 6:30 – 9:00pm Auctioneer, Web developer and Email campaigns. (of course Buy/Sell/Networking, light refreshments and YOU too.) Mike Hurney, Director MassRealEstate.net PO Box 307, Marblehead, MA 01945 [email protected] Office 781-639-8616
PS Anything to add to Contracting, Landlording or Investing? I’m glad to get it into our emails or website Blog. Thanks, Mike