complete email that went out 6/30/16 1:58pm
Good afternoon, fellow Contractors, Landlords and Investors,
Follow up June 28, Leads, Collections & Contracts meeting:
1. Welcome Guests, New and Renewing members: Mike L, Sean, Vince, Dolly, Seth, Andrew, Mike D, Paul, Lilia, Bob, Craig, Christine, Kathy and John.
2. We went through the RealeFlow http://realeflow.com/reia/new-hampshire-reia/
system and with their LeadPipes,
found that Cambridge, MA 02139
(a relatively hot, Seller city) had 519 Absentee Owners. We then dug-deep and sorted whether those owners were in or out of State, Vacant or Occupied properties and decided to contact them. The contact system allowed us to select the 5 touch system, once a month, Postcard, Yellow letter, hand penned blue ink letter then two out of the 50 postcard templates. We then paid for that mailing and sent it out. Fairly straight forward!
You may want to check it out for only $7/month for the first three months.
2. Networking, all 50+ of us had a chance to introduce ourselves and what we’re looking for. Tony who picked up two duplexes recently in Stoneham found that a multi he looked at “was a mess, needed all major systems and was overpriced.” I believe he said it was the “white house” on Hancock Street? There is one but it started at $635+k, was reduced to less than $600k and went under agreement, contingent on a home inspection.
Tony’s mess is another investors opportunity, unless it’s overpriced! You have to know your values and costs in this game! Roberta thinks she found it on the MLS and would be glad to forward it to you. Also she’s got two handyman specials in Peabody you may be interested in…
3. I spoke to an Investor last night at an Autism Fund raising dinner. It seems Chris has been chasing a Tenant for years and been in Court over 30 times! He finally got in front of Judge Gagne who listened about the $15,000. debt and how his former Tenant has a new Mercedes and boat in the yard of her new apartment. The Judge ruled she must pay that debt! But 10 years and 30 Court appearances? I think he should have used Attorney Brian with his Collections techniques. Last Tuesday he spoke to us for almost an hour, covering the obvious rules, regulations and some of his ingenious collection techniques BUT there are other Consumer 93A rules that do come into play, like what we can say or do and if we violate those rules we’re subject to treble damages! There’s too much downside for me, I vote to have Brian take care of it!
By the way do you remember what Judge Sullivan asked us 3 months ago? “What’s with you Landlords? You come into Court with Eviction/Collection cases for many thousands of dollars. Where are you when the first month is late?
4. Attorney David covered Contracts A-Z, His summary: Before you start any Construction/Contracting project, write up what your Labor, Materials and Profit are on the job?
Then ask yourself:
Can I afford to lose the final payment?
If not you may want to go see David with his Downloadable (on our website) Contract and see him for the 45 minute complementary consultation.
At least then you’ll have an understanding of Contracts and be able to retain David should a problem arise. If you use the contract and advice, it should be straightforward. Retain him and let him go after your ex customer.
If you do however download a contract from the internet, make sure it’s legal in Massachusetts and find someone who will defend it (good luck).
It was good to see you guys, last Tuesday, Mike Hurney, Director MassRealEstate.net PO Box 307, Marblehead, MA
Rescheduled Movers and Shakers Friday, July 8, 2016 7-8:30pm Denny’s of Danvers
Multi Family Investing at our main meeting Tuesday July 26, 2016 6:30pm at WorldDepot.net 47 Newbury Street (Route 1 North just before Sonic carhop) Peabody, MA 01960 No charge to members, only $25. for guests or only $99/year to join. Also light refreshments.
PS Our host, Peter 978-854-5671 at WorldDepot.net has a great new line of decking you may want to check out for you own home. www.ListoTechDeckingQuartz.it only $10/SF!
PPS David Lindahl at our July 26, 2016 meeting! a Do Not Miss event: Multi Family Investing. Then in August join us at Ultimate Partnering 8 in Boston. Last year two of our many members that attended UP7 were in the final three running for the Mercedes and won 2nd and 3rd place prizes. This year there’s a new BMW! Dave is presenting – Finding the Hot Markets and Financing to get ahead but focusing on getting past your three biggest roadblocks!
Maybe Daniel will be back from Detroit with an update… for our July 26 meeting
**** Who, What, When, Where and Why????? Just received..
Bill McClory 781-724-9637
Great Deal on a Short Sale $190,000 approved short sale needs $80,000 in repairs Arv is $340,000
55 Archer Street, Lynn, MA