Investors-Stake your territory, Contractors-Qualifications/Licenses/Permits, Landlords-Set the right rent.

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  • 01/27/15 10:30AM
  • SpringHill Suites Hotel, 43 Newbury Street (Route 1 North just before Sonic Carhop) Peabody, MA
  • $25

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Contractors, Investors and Landlords.

No charge to Members, only $99.00/year to join or $25.00 per guest (can be credited to a membership that night!)

Interesting Movers and Shakers last Friday evening! We began with the local market:Peabody SF (Single Family) House Prices have risen steadily in 2013 & 2014, DOM (Days on Market from Listing the Property to Selling it) has been dropping and now in Q12015 Inventory is projected at only 60 days. Which should keep prices high with quick sales.

Finance, the 10 year T-bill which drives our 30F conventional continues a decline, you may want to check it with your current situation...

[email protected] or my cell 781-405-1845

I handed out a survey with 130 Real Estate topics and let folks choose their preferences which we'll incorporate in our schedule.

Next main meeting Tuesday, January 27, 2015 is:

Buy - Sell - Networking and Light Refreshments...

Staking out Your Territory! for Investors,

Contractor's Qualifications and Licenses

Landlords, How to Price your Rentals to keep good Tenants but not get behind and kill your Rent Ratios and Cap Rate!

Edwin mentioned his Landscaping business and how his 6 trucks are snow ready with Plows and Salt/Sand mixture. Also we reviewed how he will MONETIZE his expenditures with flipping vegas long before he moves to the next, diamond level. He wants to do deals;-), they want his money for the next level;-( My money is on Edwin. It's fairly straightforward and basically the "way around is straight through!"

Bill had a couple of handouts for his Wholesaling/Flipping subgroup, next meeting 1/18/15, he reviewed the hardest part to most people, meeting potential Sellers, which he has NO PROBLEM with.

Several new folks said they're having trouble putting the famous Buyer's List together and ironically there were 4 competent Cash Buyers right with us that introduced themselves!

John reviewed his Private Financing requirements and ratios.

Jay is always looking for a deal and offered to review anyone's deal. This is especially important because when starting out you may miss something and Jay is famous for having Bird Dogs and Investors go back to a Seller and modify the deal so everyone is happy and a Flip or Sale can be made.

Damian is on the verge of landing some Short Sales/REOS.

Kathy is still looking and hasn't found anything lately.

Wilson is one of the most eager beginners we've seen in a while and will now be working with Bill! Good luck buddy.

Barker is a General Contractor in Amesbury and is looking to get into Investing, He'll also help you Price a rehab.

Hamed is a RE Broker that's looking to partner with a Mortgage Broker, thank you very much, Mike.

Don cashed out of some Rehab Loans he lent on, is very satisfied and looking for more.

Carol is waiting on One deal... We advised as my father used to tell me "To Avoid Disappointment, Always have an Alternative!" Like two other houses you're looking to buy.. then get a second opinion from a GC in case the first one bails on you.. I think she'll do well!

I spoke about a Marketing Campaign I'm doing now: Why Rent When You Can Buy? (Tough being a Landlord myself:-( but I'm onto something different, how to reach these renters. No charge to Members, only $25/guests or only $99/year to join. See you soon, 1/18 or 1/27! Mike Hurney, Director PO Box 307, Marblehead, MA 01945 Office


Yesterdays (1/18/15) Flipping Wholesaling subgroup just North of Boston, Massachusetts..

Some familiar faces showed up yesterday morning, folks that have been out of Real Estate and are now looking to get back into it. We began with introductions then Frankie who drove down all the way from Maine told us how she took a "Yancey Vegas Flip" course that cost her $4,000.

Good, but even better, if she was able to come up with 10 Cash Buyers, she would receive all her money back! Interesting but I suspect there's some fine print...

Anyway we gave her 5 from our group. She had 2 already and if she attends our Tuesday, January 27th main meeting at the SpringHill Suites Hotel in Peabody:
Staking out Your Territ
ory! for Investors,
Contractor's Qualifications and Licenses
Landlords, How to Price your Rentals to keep good Tenants but not get behind and kill your Rent Ratios and Cap Rate!

she'll probably get enough for the rebate.

At this subgroup we covered the Sources of our previous Deals (MLS, Auctions, Bill's Aunt, Edwin's friends in local government positions, Damian's political connections, Bulletin Boards) which worked and which were a waste of time.

How to use Bandit signs: Where to put them? When to put them up and WHEN to remove them?? What to put on them? Which phone numbers or services to use for the initial contact?

An offer from Damian backed up by Bill: If you are the first to find a vacant property in Peabody, that he buys, he'll give you $500. as a "bird dog" fee. By the way, currently there are 124 vacant properties in Peabody.

Then we covered how to find vacant properties, tall grass or an unmowed lawn doesn't work in the Winter, but what does. How to run down owners. Finally after we all exchanged business cards I reviewed the simplest technique I know that reaches out for business:

Take 10 of your business cards and place them on the passenger seat of your car. Do not go home for the evening until you've given all 10 to customers or potential referral partners. Be sure to ask for that persons card in return and always write a short note on your card of what you're looking for i.e Single Family house to buy.

See you soon (1/27/15) Mike Hurney

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