Good Morning Fellow Investors,
Es mucho frio! 45F air, this morning. I’ll swim until the combined (air and water) temperature goes down to 120F but I think this may be the end of my Summer swimming. Now I’ll either have to run at daybreak (like this AM) or back to swimming at the Y.
At the meetings, you guys have been looking healthy, How do you stay in shape?
Anyway Last Friday, Economy and September 17!
Movers and Shakers was busy. Arthur’s working with Damian. Richard’s looking for more 1-4 family rentals and negotiating with a Tenant. Mark is still working 13-14 hours in his Very lucrative retail chain and easing from part time to full time Real Estate investing.
Art is ready to “stick his toes in the water” RE Business that is. Always good to have an understanding before we do something. We were very fortunate to have Jay, a licensed Appraiser, give us tips on how to maximize an Appraisal and use it as a “Road Map” to home improvement success.
TobyBeth has a SF house under contract in Danvers that you may be interested in? If you Refer a Buyer to her that she Wholesales to, she’ll gladly pay you $500.00 Cash! Good Luck, Who couldn’t use $500?
Eamonn told us how he narrowly missed getting into a tough situation with the Buy-Fixup-Sell of his mother-in-laws home. She has 5 daughters and he’s lucky enough to married to one! Kevin’s gone over his set price in a negotiation without a comparable response. Our advice: “Bring a check for cash in the amount of the original offer!” SW3 = Some Will, Some Won’t, So What? Next (quit chasing it) or as my Father told me (which I never listened to) “To avoid disappointment, always have an alternative!”
Steve’s a Broker who’s found several deals for Wade. Wade’s stepping up to do 2 deals at once and has just completed a “Cash for Keys” help program for a Tenant he inherited. John had hard money suggestions. Andy hit a Home Run on an apartment complex in Rockport!!! Rob is working with Mr. Wholesaler himself (Bill) and starting to get more comfortable (successful) knocking on doors. I suggested they look for Broken garage doors, not just overgrown lawns and other neglect. These are the usual signs that someone might be willing to sell and they could co-venture with a garage door installer to split marketing costs.
Good to see you guys and I think we’re all doing a little better after sharing techniques, resources and encouragement!
Jobs – I perused the Sunday Globe yesterday and a couple of articles supported my recent assertions.
1. College Debt for students is rising at an alarming rate. Jim Braude stated the Average Student Loan debt in 2005 was over $17,000. and in 2012 it was over $27,000. Personally I think it’s much higher from the Loan Applications that I’m taking [email protected] 781-405-1845 cell. These mostly Sallie Mae loans will not be forgiven under any circumstances and are prioritized, by our government, like IRS debt and municipal liens. Now if ever anyone needed a break, it’s students that have graduated college and are looking for good jobs? Which don’t seem to be there… Now they’re saddled with this huge debt?
2. Jobs in Massachusetts that have by far shown the most growth 2012 to 2013 have been in the Construction Industry. The forecast for job growth in the next 5 years is also in the Construction Industry (more than twice the next sector). One factor in this Optimistic projection is the recent increase in Home sales which spurs rehab and new construction for these contractors.
By the way when I recently updated my own Builders license it struck me How much safer this whole industry has become. OSHA, tons of regulations and many more inspectors are now enforcing these worker and environmental safe guards. So NOW you may want to look into the Trades with their need for help versus chasing the very few College degree requiring jobs??
Don’t forget the Housing Court Judge will join us on Tuesday, September 17, 2013 at 7:00PM where you can get a complete set of Tenant/Landlord documents and a Rental Checklist.
See you soon, Mike Hurney, Director MassRealEstate.net PO Box 307, Marblehead, MA 01945 781-639-8616 office NMLS #43341 [email protected]