Email that went out 3/22
Good morning Fellow Investors,
1. Tax Sales. 2. Last Friday. 3. 2% cashback. 4. High ROI.
1. Tax Sales in Mass?? What are you making on your money now .5 – 1% Many Cities and Towns are having trouble funding their “overhead” like defined benefit Pension Plans and increasing School costs (some estimate 80% of local Real Estate taxes go to Schools and 80% of that goes to Teachers and Administrators salaries. (don’t get me started on that)
Anyway, declining revenue and increasing expenses have Cities and Towns looking everywhere for funds and why not Auction off Tax Liens like most states do? Tuesday March 27, 2012 6:30 -9:00PM we’ll hear from Tom THE Auctioneer on how to take advantage of this upcoming opportunity, while helping Cities and Towns:
“In The Commonwealth of Massachusetts, Cities and Towns are allowed to sell their “debt position”, or “tax titles” by assignment at public auction. Tax title assignees step into “the shoes” of the municipality and become the first position lien holder. Tax title assignees can file for foreclosure of the right of redemption. If the taxpayer does not redeem prior to the foreclosure judgment, the tax title assignee gains ownership of the property and the taxpayer is not entitled to any surplus, or equity. Property owners who wish to redeem their properties must pay 16% interest, plus the principal to redeem. If an investor does their homework, it’s tough for them to lose.”
2. Last Friday a big group of investors at Denny’s, for our Movers and Shakers, nice. I covered: The “4 corners” of an Applicants qualifications. Most importantly, how you can insure the House you are Selling does not come off the market and have the Sale fall through! I’m glad to offer my PreQualification service for your Buyer. How much do you take as a down payment to keep a Sale going? What are a Buyer’s real issues? Can your own Home Inspection help?
We also matched some folks up and I’d like to continue this at future meetings, let’s call it hmmmmm NETWORKING? Ok here’s how it went; Glenn an Investor is looking in Leominster at a property, Chris a Broker is familiar with the area and actually knew the house. Glenn here’s Chris, Chris this is Glenn. You can exchange contact information and stay in contact. John and Kathy are interested in Self Storage, Mike was attending a SS Auction the next day and had a lot of insight into SS. Guys please exchange contact information? Next Tuesday let’s keep it going!
3. I’m helping members sign up for the 2% cashback at Home Depot. Every time you’re there you’re leaving money on the table until you sign up.
4. Tax Refund? Tom our inhouse (THE expert that attends some of our meetings with advice. He’s worked for many of our members, saving them time and money) Plumbing Contractor says the highest Return On Investment you can have today is to Update your Bathrooms and/or Install a Laundry room near where you dress, not in that creepy cellar. He’s starting to get busier and staffing up. You can call him at 617-697-7330 to get going and invest in your own property. That’s got a high ROI and a little comfort for yourself and your family. If you don’t do it, when you sell someone else will and take the cost off your selling price!
See you at our main meeting Tuesday, March 27, 2012 6:30 – 9:00 PM where we’ll cover the lucrative Tax Lien business here in Massachusetts. You don’t have to travel to Pennsylvania, Ohio, Texas or wherever the Gurus say you have to go. Kind of like “Stay at home” investing?
Tuesday, March 27 6:30 – 9:00 PM SpringHill Suites, 43 Newbury Street (Route 1 North, next to Sonic carhop) Peabody, MA 01960
Investing, financing questions? You can call me at 781-248-6907, Mike
Mike Hurney, Director www.MassRealEstate.net PO Box 307 Marblehead, MA 01945 [email protected]
PS I’m doing an Introduction to Aikido at the “Hut” 1 Tyler Street, Newton, MA at 10:00 AM 3/24/2012 for any interested Martial Arts buffs or beginners. $15.
Massachusetts Real Estate Investors Association
PO Box 307, Marblehead, MA 01945, USA
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