Hey Fellow Investors,
1. Selecting a Farm area. The first lesson in my famous Course “How to Become a Real Estate Investor in 12 Easy Lessons” is to select your “Farm” (an area you can easily master value prices and work within). At our Monthly meetings we also offer the service of Sending you the available properties in your Farm.
However many folks do not realize what’s involved and ask us to send them the “Eastern Mass” listings or a request from our last meeting was for Beverly, Saugus, Malden, etc. I countered with “Let’s stick to Beverly 1-4 families and analyze that next week.
Coincidentally the Massachusetts Department of Revenue released figures that drive my point home which is Even adjacent towns will differ greatly and it’s hard to keep your values straight (until you’ve been at for a little while)
Take Marblehead and Swampscott, towns I own property in and generally seem similar. The figures just released are:
Town Total SAT scores 2011-2012 Assessed values of average home in fisdcal 2013
Marblehead 1705 $653,642.
Swampscott 1572 $453,328.
Big difference! and I was only looking at the difference in the Real Estate tax rates:
Personnally I don’t see much difference between the two areas (except for the Tax rate and now schools) but most folks are die hard fans of each area, Almost like the brand loyalty of old, with fords and chevy’s (“I wouldn’t take a house for Free in the that town”;-)
Lesson Master a manageable Farm, make some money then expand with the proven model I use. Mike Hurney [email protected]
2. Move up Now! Another point I often make: The percentages are now IN your favor in a recovery! was highlighted in Parade’s Sunday magazine (4/14/2013) “The new Ruiles of the Game” where they used the example of someone waiting, to sell a home that had lost value, until the value returned.
The upside was that your moveup home would also have lost value and percentage wise could net you twice the value. The downside was that when you waited for that last 25% increase in your own property the moveup also would increase 25% thereby costing you money.
Bought $100,000. now worth $75,000. Moveup home with a similar decline Bought $200,000. now worth $150,000. By acting now you’re losing $25,000 for a gain of $50,000. Sounds good to me!
3. This weekend I’ll be at the “Dave Lindahl C3PS Prosperity Rollout 2 day Seminar” in Boston. I’ll be online if you’d like help with any Real Estate offers or Mortgage prequalifications. Some interesting topics at the two day and it’s always good when I see you fellow Investors:
Here’s the link to sign up, You’re welcome to bring a Guest
Message from Dave: Formula For Success
Benjamin Franklin said; “Tell me and I will forget, show me and I may remember, involve me and I will understand”
If you would like to take the next step in your real estate career, take a look at all where we are going to be this weekend and what you will take home with you.
See you soon, Mike Hurney, Director www.MassRealEstate.net PO Box 307, Marblehead, MA 01945 781-639-8616 office