Update

Wow, last night we worked until almost 11 pm in Dartmouth piping a Washer/Dryer into my cottage on the lake. Main problem:s the crawl space is about 15″ and John, the Master Plumber (508-369-7579) had to get his “chain snapper” down there and operable to cut into the main drain. He’s done a lot of these Washer/Dryer moves to the 1st or 2nd floor but this was a new installation. Good thing Tom the Carpenter (508-272-7489) was there to replace some floor joists and “sister”¬†others for increased support. Fortunately the “Mold Spray” I had used which is an enzyme that eats mold did it’s work and there was very little mold left. Turning the water back on for the Summer, we found piping, valves, and a faucet that leaked so they also¬†were replaced, overall a successful trip!

Then a follow-up to a property in Fall River where the heirs want me to sell their condo. Looked OK to me at 11:30 pm;-)

Mortgage rates last week that I was quoting 4.875 – 5.125% with no points. This week 5.75% with 1 point. The worst part about this is, Buyers can’t just say, “OK I’ll pay the extra because I want the house.” Now they just can’t qualify for it at that mortgage rate. Looks as if this will slow the market back down. See the Procrastination article below. Good luck investing, see you soon. Mike

PS What have you fellow Investors been up to?

Mike Hurney
 

Mike Hurney is the Founder and Director of MassRealEstate.net, an Association of Contractors, Investors and Landlords. He is the Author and Coach of the popular Course "How to Become a Real Estate Investor in 12 Easy Lessons" which Trains and Guides Beginners or Sharpens and Challenges the Skill of Advanced Investors. Mike is a Successful Real Estate Investor, Rehabber and Landlord. He's also a Construction Supervisor. MassRealEstate.net PO Box 307, Marblehead, MA 01945 Office 781-631-8018

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