Author: Mike Hurney (19 articles found) - Clear Search





Rental Income Cheat Sheet for 4/30/24 main Meeting

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Residential Income Property

 

1983 - ACRE w/Al Lowry & RAND Robert Allen

Mr. Landlord;-) Not in Massachusetts:-(!   ;-)

 

1.What are Residential Income Properties?

SF, MF, CC

Zoning & Rules restrictions.

Shane;-)

 

2.Types?

Sort Term, Medium & Long Term.

How Much$ (how to check the competition).

Where to go? Market - High, Medium or Low?

 

3.Where?

YOUR Farm area!

 

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Mobile Banking For Real Estate Investors by George Skidis

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 iv.  Mobile Banking For Real Estate Investors by George Skidis

Today mobile banking for real estate investors is the next step in our investor evolution. The following article will let you know why this is happening and what you need to know.

Many of the real estate investors I know are over 60 years old and have no desire to change their ways. They have a proven system and don’t want to fix what isn’t broken. As an investor with a little over six decades under my belt I have personally embraced mobile banking in several ways. Unfortunately I am not comfortable in a few others.

Why Things are Changing

The Millennial Generation is a big part of the reason. They have embraced mobile banking and are driving the wave of the future. Smart phone technology has greatly simplified routine business activity through the use of mobile phone applications. You can access company accounts and connect with your business bank.

A while back it was time to renew my driver’s license. We had also moved into our new home a short time prior to that. It was Saturday morning and my license expired on Monday. At that time the DMV was closed on Mondays. After waiting in line at
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Mold concern?

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Don’t forget our report sheet format, the 3 Column: WID - WH - WIWIHD      (What I Did? - What Happened? - What I Wish I Had Done!) Organizes your thoughts & Prepares you to NOT make that same 1st decision.

 

Next, Don’t freak out. Mold is everywhere, all the time, like most bacteria & it’s similar to viruses, like the cold virus, everywhere, all the time. So why aren’t we all sick all the time. Because we’ve built up an immunity and most often we’re infected when we’re run-down, tired or not eating right.  Back to Mold, which has been around forever, it’s even mentioned 17 times in the Bible! If you don’t think it’s around, leave a piece of bread on your kitchen table for a week, you’ll see mold. If you don’t see mold they’ve probably put too many preservatives in it & it may not be good for you?

 

Incidentally, when I’m Buying a Property it’s Deadly Black Mold that We’ll have to have remediated by experts in Tyvek suits and filtered breathing apparatus. It’ll cost a fortune!!

 

BUT when I’m selling a p
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Meeting Notes 1/5/24

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Meeting notes: 1/5/24 6:30pm Kelly's 1st Friday of the month.

Good group!

1. Tony's dilemma - Bad Tenant causing problems with another Tenant and Neighbors, Police called multiple times BUT still paying Rent on Time.

Suggestions: Why wasn't this obvious when interviewing the Tenant. We reviewed a couple of ways this bad behaviour could be stopped. Also we found the Hot Button that could get this tenant to move on!

2. Property in Peabody that we saw when Tony Youngs last did his Hidden Market Tour for our Association. We all saw it, no one pulled the trigger (made an offer). It sold for $373k, fixed up and Sold for $725k (Home Run!). Robbie pointed out that it was Maxed out!, to the studs! with ALL brand new Appliances, Floors, Paint, Landscaping, HVAC and electrical.

AnnMarie sent all the details and photos for everyone there, hopefully for us to learn from. Moral: When you see Cinderella, do something, it's too late to try and chase down a slipper later on.

Actually we did see it 11/14/2021 and it sold 4/19/22, fixed up and resold 12/14/23. So not exactly that we missed it by a day:-( What do they say in Airports - If you see something, say something! To the Owner of course.

3. Gerry's concern, great house in West Peabody but the taxe
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Winter 2023 Prep!

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 https://blog.nomadlease.com/prepare-property-winter-checklist

https://www.homedepot.com/c/ah/how-to-winterize-a-house/9ba683603be9fa5395fab90eefdc135

Summary & my 2cents

Maximize your Heating Options: Gas, Oil, Wood burning, GeoThermal, Solar?

Inspect your Homes Exterior: Roof, Gutters, Downspouts (Water is directed AWAY from your Foundation!) Insulated Cover for ALL exterior faucets. (Frost Proof Sill Cock is Best!) 

Inspect your Furnace and Filter

Keep the Warm Air Inside: Weather stripping, Spray Insulation, Windows & Doors fit tight.

Prepare for Emergencies: Flashlights that work, batteries, Battery powered Radio, Prescriptions, Xtra Pet Food, (Bag of Sand, Shovel & Jumper Cables in your Trunk)

Cleaning up: Start your SnowBlower & Gas up also Call your Plow Guy. I start Every Winter with New Snow Shovels at each house (house # painted all over the Shovels, Extra Bags of Sand and Salt. and Advise Residents: I'll have someone here as soon as possible but if you need to get out in a hurry, here's the Shovels, Sand & Salt)