Tonight Tuesday, March 27, 2012 at 6:30 PM we’re meeting at the SpringHill Suites, 43 Newbury Street (Route 1 North just before Sonic Carhop) Peabody, MA
We’re covering 1. Avoiding lead paint problems, 2. Insurance saving tips 3. Tax Sales in Mass. and of course Buy/Sell/Networking
I’ve had several questions about Lead paint recently and I’ll share the Right Way to handle it. Insurance always seems to be going up and we can not get by without it, however what coverage makes the most sense for us? Then Tom will show us how to take advantage of this great opportunity to Buy secured interests in a property. I spoke with him yesterday and he told me the difference between Foreclosure Buyers and Tax Sale Buyers, Tax Amnesty and Elderly Exemptions. Then I spoke to our Tax Assessor and how these upcoming Tax Sales work from their perspective. I look forward to seeing you guys tonight! Mike
Tom “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.”
They are going to be holding a “Tax Title” auction in Apr 10th for the city of Weymouth. There are 75 properties being sold for 3 million taxes with an assessed value of 21 million.
“My name is Tom and I’m a principal owner and auctioneer. In early April, we will be conducting an auction of tax title assignments and tax possession property for a desirable Massachusetts town on the South Shore. We would appreciate the opportunity to speak at one of your meetings, prior to the auction, to share information with your members.”
I’ll see you tonight, Tuesday March 27, for “Lead, Insurance, Buy/Sell/Networking and How to Buy Tax Liens in Massachusetts” 6:30 – 9:00PM at the SpringHill Suites, 43 Newbury Street (Route 1 North just before Sonic car hop) Members always FREE, Only $25 for guests. Only $99/year to join ($8.25/ meeting)
Mike Hurney, Director MassRealEstate.net PO Box 307 Marblehead, MA 01945 781-639-8616