Bristol County MA Real Estate Blog and Home Listings: Massachusetts: Easton

Fix and Flip Distressed Foreclosed /government Owned Properties in Southeast Massachusetts - Part 1

 If you are new to the idea of investing in real estate for profit, you should read this article carefully and avoid costly mistakes.
So let's get started: First get some financing in order. Investment properties require 25% or more down and those in distress may require a cash purchase. You should have cash on hand and ready before you even start the process of looking. However, there are other options.

One option would be to ask your friends ,relatives and business acquaintances tohelp. There has never been a better time to invest in great property than right now. Either borrow the money from them or give them an equity stake in your new venture. You could also go to your bank and sell them on giving you the funds. Another option is a Hard Money Loan. This type of loan should be a last resort due to the very high interest rates. Hard Money Loans also cost more in upfront points. They can work for the right property. You can get a hard money loan based on the after repair value... but you will still need some of your own money.

Next find a great real estate agent that is experienced in Investment Property. You should interview a few agents, and ask for references. He or she can help guide you to the best opportunities in the marketplace.
There are several foreclosures on the market in Massachusetts. Most of them need signifigant rennovation. So yes, you will need some fix up money.
Let your agent choose the properties that would best suit your needs. Then go out and look. Look at bank owned, HUD homes and Estate Sales first. They are the most profitable.

Once you've found the right house, find a contractor to estimate the scope and cost of work needed. If you are comfortable, it's time to move foward and make an offer. but before you do, be sure that you have calculated your finances. Your agent can give you a price range for after repair value. Always use the lower end of the market when you calculate your profit. You don't want to be taking on more than you can handle.

Once your offer is accepted, get a home inspection. I've had investors tell me that they know what they are doing and don't need one, only to realize later on that there were more repairs needed for the house that they weren't aware of. Home Inspectors can and do miss things too, but having a contractor or multiple contractors and a home inspector on your side before you make your purchase, will help you avoid a bad decision.

More to follow.. short sales, creating relationships with vendors/contractors and more!

Stay tuned next week for Part 2.

To start making money on real estate rentals, rehab properties and more, call me today for a FREE Copy onf Millionaire Real Estate Investor or "FLIP" Two Best Sellers written by Gary Keller. Call me with any questons anytime. You can count on my expertise in this area.

You may also send me an email at http://LincolnTeamRealEstate.com Lori Lincoln- 508-878-0017

Lori Lincoln is a Realtor/Consultant who helps buyers and sellers in Greater Taunton MA.

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com

lorilincoln@kw.com

508-878-0917

Search Thousands of MLS listings for Taunton,Rehoboth,Lakeville, Assonet,Somerset, Raynham, Easton. Certified Distressed Property Expert Home Specialist in MA

Follow this blog                                                                               

Taunton Area Real Estate- Keller Williams Realty/Lincoln Team 

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Oh.. boy.. It's that time of year again. How to Deep Clean Your Neglected House Part 1

 Even if you aren't selling your home, we all like a clean home right?

As most people do, I work full time, I mean full time.. when you aren't home to "see" the dust bunnies, it's easy to forget.

 When you aren't home to notice that you're having a hard time seeing out your windows.. well.. for me and maybe you.. it's time to get things spruced up and spic and span for the Holidays and Winter, and.. I am guilty as charged. Here is my strategy, hope it helps you.

First,  set goals attached to a date that you would like to accomplish by. Second, enlist some help. If you don't have help, you can get the job done in small time blocks.  How to eat an elephant.. "one bite at a time".

I don't like jobs done half way.. so my list is thorough. Since I've been in my home for awhile, it's time to start thinking of a complete overhaul,  a real deep cleaning..start by removing all of the clutter.. rent a dumpster and  have a yard sale. You can pay for the dumpster with the proceeds from the yard sale.

Note: (Definition of Clutter- what hasn't been used or looked at in 2 years. Get rid of all things that aren't sentimental.. okay packrats.. I hear you.. you have a lot of sentimental items right? If this is the case, give some of them to family members.. and re-evaluate your position on what is and isn't sentimental.) Just get rid of the junk.. don't leave it to a family member after you pass..give it to them now if you aren't using it.. the best gift we can give our loved ones after we pass is the gift of not having to go through all of our junk.

AFTER you've de-cluttered, start upstairs if you have 2 levels, this helps you work your way down. Most people that I know  start downstairs and work their way up, not good.. all of the junk goes with you when you start down and work up. When you start upstairs, all throw-away items will be brought downstairs with you so that you can easy removal.  

Wash all of your windows upstairs. Schedule enough time without rushing through.. it shouldn't take more than 10 minutes per window.  Then leave the windows open.Don't use window cleaner first. Bring a bucket of soapy water and clean water. Then use window cleaner and newspaper or use vinegar which I believe is better.

Vaccum the mattresses (after you strip the beds. Leave the beds undressed until evening.) The open windows will help "air" out the mattresses.

Then dust and vaccum thoroughly, vaccum under the beds, clean door knobs, woodtrim etc.

 Don't forget to vaccum and or wash/dust the heater covers.- (the big dispute  on which order to do this in.. doesn't matter as long as it gets done). I prefer to wash rather than dust. I use Murphy's Oil soap 1 part soap, 2 parts water. for all of my wood cleaning and dusting. You can also use it on doors, window sills etc.

Repeat the same steps for downstairs.

For couches and chairs, remove all slip covers. Wash them in cold water, make sure they are washable and will not shrink.  vaccum inside every nook and cranny of each chair or couch.  For carpet stains, use a scrub brush with 3 part plain cold water 1 part gentle laundry detergent in a spray bottle. ( I once used Oxy-clean on my carpet and it stained my tan carpet white).

For all hard surface floors, forget the swiffer, hands and knees cleaning is best for the deep clean. For wood floors, I love Oil soap. For laminate.. too much water is not good because laminate is a pressed composite material. Damp cleaning in my opinion, is best on laminate.  On bathroom and kitchen floors use a disinfectant cleaner.

I am such a bleach addict because it kills everything. If you choose to use chlorine bleach, make sure you have old clothes on and be careful of the fumes. You can also use all fabric bleach, but I am not so sure it will kill germs. Don't ever mix bleach  with any other product other than water.

I also like the new Miracle sponges, they are foam like, but really clean up  the hard water stains without detergent.

So that's it for tonight.. Happy Cleaning..

Tune in tomorrow for Part 2

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com

lorilincoln@kw.com

508-878-0917

Search Thousands of MLS listings for Taunton,Rehoboth,Lakeville, Assonet,Somerset, Raynham, Easton. Certified Distressed Property Expert Home Specialist in MA

Follow this blog                                                                               

Taunton Area Real Estate- Keller Williams Realty/Lincoln Team 

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Easton Massachusetts- Open House This Saturday 3pm-5pm. Estate House For Sale. 50 Church Street, Easton. This is one of Easton's Best Buys. Did you know that Easton ranks #48 in the country's list of Best Places to Live by CNN, Money Magazine?

Here is  a brief descripton:  4 Bedroom Raised Ranch that needs updates and some TLC and worth the investment. All mechanicals and roof are newer.  This house is all about location. Situated in over an acre and no back yard neighbors. The lower level is set up to be an in-law. To legally approve the in-law, proper permits are required.  This home is listed for 259,000

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Town of Easton is located 30 minutes from Boston, 45 minutes from Cape Cod, and 45 minutes from Providence. The community is approximately 29 square miles in area and has an estimated 2008 population of 23,289

Easton, although primarily a residential community, has experienced rapid and positive growth over the last decade. Recent development includes two major shopping plazas and provides residents with the convenience of shopping at major retailers. There are three supermarkets, easily accessible from any part of Town

Easton citizens have a long history of supporting an excellent school system. The renovation and expansion of the Oliver Ames High School and the Easton Middle School was completed in October, 2008, providing students with modern, state of the art facilities and a show case 1200-seat auditorium. Oliver Ames is a comprehensive high school designed to meet the educational needs of all students and offers a broad range of honors and advanced placement courses. 2008 MCAS scores placed Oliver Ames students in the top 10% in the state in English/language arts and the top 25% in mathematics. The high school has received recognition and awards for its music programs: jazz band, marching band, chamber orchestra, and show choir. There is a tradition of achievement in girls' and boys' sports with many championships over the years. Construction on a new high school stadium began in December, 2008.

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Lori Lincoln is a Realtor with Keller Williams Realty and sells homes in Easton, MA and other homes in Bristol and Plymouth county MA.

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com

lorilincoln@kw.com

508-878-0917

Search Thousands of MLS listings for Taunton,Rehoboth,Lakeville, Assonet,Somerset, Raynham, Easton. Certified Distressed Property Expert Home Specialist in MA

Follow this blog                                                                               

Taunton Area Real Estate- Keller Williams Realty/Lincoln Team 

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off Bay Road ( across from 7 Bay Rd) Hosted by Lori Lincoln.. Keller Williams Realty.. Please call for directions 508-878-0917

 Home for Sale.. Open House

A Brand New Classic. Over 3500 sq.ft. of Gracious Living with every conceivable amenity, dramatically situated at cul-de-sac's end in a new eight home neighborhood. If you have an architectural curiosity , you'll appreciate the the soaring ceilings, gleaming hardwoods, coffered library ceilings, dining room tray ceilings, balcony, wet bar, first floor master suite, bonus room, granite kitchen and sun filled breakfast room ,three & a half baths ,screened porch, wrap around farmers porch....

http://www.LincolnTeamRealEstate.com

lorilincoln@kw.com

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com

lorilincoln@kw.com

508-878-0917

Search Thousands of MLS listings for Taunton,Rehoboth,Lakeville, Assonet,Somerset, Raynham, Easton. Certified Distressed Property Expert Home Specialist in MA

Follow this blog                                                                               

Taunton Area Real Estate- Keller Williams Realty/Lincoln Team 

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