email that went out this morning 6/24:
Good morning, Fellow Contractors, Landlords and Investors,
Collections, Contracts & Leads 6/28
1. Tip – You may want to check out your Insurance “Umbrella” to see where the coverage begins and your underlying individual policies end. This could be an expensive gap.
2. Tip – all my friends tell me how this market of Buyer demand and cheap money is going to continue for the next 5 years. Personally I don’t think so, especially with BREXIT this morning and an upcoming election. I’m not advising you dump everything and go to gold in a cave but I do think you should get into quicker turnaround projects. Remember “musical chairs in kindergarten?
3. Opportunity – If you’ve ever felt uncomfortable when doing something it may be because you’re listening to the wrong folks. I’ll have Lesson #3 “Friends and Influences” (from my famous Course “How to Become a Real Estate Investor in 12 Easy Lessons” on the Blog page this afternoon. This quick quiz takes less than 30 minutes and it may change your business for the better! Comes down Monday.
4. Most of our members are good at feedback, sometimes more than others. Right now we’ve got a lot of folks on the RealeFlow system of finding leads/deals and marketing to them http://realeflow.com/reia/new-hampshire-reia/
I’m interested in how this is working out for you? We’ll demonstrate it again in a short segment at the Tuesday June 28 meeting.
4. Speaker – Attorney Brian is back with his Collections advice. If you follow it, your chances of collecting ALL your payments (and extras) are very high. If you don’t follow his advice he’ll be glad to buy your contract/execution from you, if it’s high enough, for $.05/dollar. That’s 5 cents on the dollar value! Which is a strong incentive for you to learn how to do this right!
5. Speaker – Is your Contract with a Contractor or Contractor with a Homeowner enforceable? What do you do when problems arise? Attorney David will cover Contracts A-Z, enforceable clauses, clauses that completely negate the entire contract (to avoid) and whether to resolve your issue in Court or with a Lien?
HEY GUYS “CONTRACTS” is Real Estate 101! Table Stakes!! If you can’t put a contract together on the fly,
then maybe you need to have one, you understand, in your back pocket,
or maybe you can drive around WITH an Attorney to put it together, however this may cut your margin down;-)
6. Did you know there is usually ONE of every Partner or Service you would need to Find, Buy, Fix-up, Sell/Rent in attendance at every one of our meetings. We’ll go through it next Tuesday!
I look forward to see you next Tuesday, Mike Hurney, Director MassRealEstate.net PO Box 307, Marblehead, MA Tuesday June 28, 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.
PS Don’t forget those hardwood floor deals with Keri at WorldDepot.net or just stop by and run a scenario by Angleo, the flooring expert!
PPS We’ll also get a rundown from Jason, the Kitchen Designer at WorldDepot.net on the 4 brackets of Kitchens they handle: $2,500. – $5,000. Entry level. $15,000. – $18,000. Semi Custom. $40,000. – $60,000. American Custom. & $100,000.+ Studio Becker. These prices do not include Appliances or Flooring. Remember the 10% rule?
PPS David Lindahl July 26, 2016! a Do Not Miss event. Multi Family Investing. Finding the Hot Markets and Financing to get ahead! also getting past your three biggest roadblocks! Maybe Daniel will be back from Detroit with an update…
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 Licensed Mortgage Broker and Construction Supervisor.