We visited 4 properties, 3 in Leominster and 1 in Fitchburg. 2 properties were SFH and 2 were multi-families. There was a lot of interest in the 3-family REO in Fitchburg. It’s not currently listed and needed some repairs and some asbestos remediation in the basement. The Duplex in Leominster was the worst house in a great neighborhood. The lot value alone is more than the current price!
We analyzed the Fitchburg property to determine what the likely repair costs would be, carrying costs, etc., what the maximum amount that could profitably offered if performing the full repairs and remediation as well as will a more modest rehab. In other word, what needed to be done to know how the property would perform. We also discussed the types of financing that would be available and the cash down requirements for those loan products. So a lot of information was discussed and shared!
The next REOs Open in Gardner is tentatively scheduled for June 22nd. Check your mailboxes! We look forward to another successful outing.
More here:
REOs Open! a big success!
NWCREI and Worcester REI are sponsoring REOs Open! tomorrow between 10AM and 4PM. Sitting on the fence, wanting to learn about buying bank owned property or wanting to buy something now with our without partners?
Come tomorrow and tour several properties, including at least one that
isn’t listed for sale currently!
What makes this different than other real estate tours? How about analysis! Not only will you walk through the properties but you’ll have experts on hand. Some of the things discussed:
- What are the ball park repair costs?
- What are likely mortgage scenarios?
- What would my holding costs be?
- Etc., etc.
In fact, you should come away with more than enough information that you should be able to offer on these properties, alone or with partners!
Go to: Northern Worcester County Real Estate Investors: REOs Open Event for more details or to register.
The Fitchburg Cashflow game follows at 5PM at James’ house.
Read the original:
REOs Open!
On April 24th, 2008, Mortgage Lender Implode-O-Meter reported that Bank of America is going to make the Countrywide Finance name go away. No big surprise! It’s kind of got the same disaster-tinged feeling like Valujet after the crash in the Everglades. Countrywide lent money that it appears they shouldn’t have than anyone else.
Read the original post:
So long Countrywide Finance
As on April 26th, 2008, I’ve passed $103. The magic $100 point actually took place while I was working out of the country about 2 weeks ago.
Like anything, work is involved and I’ve got a lot of irons in the fire. You can see that this is true I’m sure by how infrequently I’ve been posting on Rat Race Escapes. Those that know me, know I own several businesses and have real estate investments so maybe I split my time a little much. Sounds to me like I need to delegate more than I am so I can handle the different pursuits I have.
Do you have a web site? If you do, and you think that it might make sense for you to make some money off of it, check into Google Adsense.
<!–
google_ad_client = “pub-3142240781461399″;
/* RatRace Adsense Referral Text Ad */
google_ad_slot = “3734546262″;
google_ad_output = “textlink”;
google_ad_format = “ref_text”;
google_cpa_choice = “”; // on file
//–>
<script type=”text/javascript”
src=”http://pagead2.googlesyndication.com/pagead/show_ads.js”>
How do you make money with Adsense? Google and others can explain it better than I can but with the right marketing for your site, you can potentially get a lot of clicks. For some Google Adsense links, you get paid for clicks that people viewing your site make. For others, you get paid when somebody actually buys something. Google doesn’t cut an actual check (send a direct deposit) until after you’ve hit the $100 threshhold. Then it still takes until after the following month. So I won’t see it until June sometime.
I haven’t spent anywhere near the time optimizing Adsense or referral revenue that I’d wanted to over the past 10 months. I won’t beat myself up over that because I know my the revenue has been slow. But it has increased on a monthly basis. While revenue has averaged about $10 per month ($103 / 10 months), December, January, February and March, all were at least $20.
Before throwing in the towel, that tells me something. What does that tell me? Looking at site statistics, affiliate statistics through the various places I’m monetizing, including Adsense, I had more clicks because I had more traffic. That traffic came because I paid attention through the fall promoting various web site, got newsletters out promptly, etc., that all drive traffic to the various sites. One thing I always keep in mind is that only relevant content gets included and the ads only have value to somebody reading the content. Maybe they won’t to everybody but they will to some of the readership.
Given the traffic I’ve been fairly effective, falling into high average for click-throughs (clicking on links to go to the Adsense links or other links of the sort). Can I do better? Sure. And I intend to.
There are sites that generate more than US$100,000 each and every month just from Adsense. Maybe not a lot but some. There are quite a few more that generate US$10,000. My current goal for end of year is US$3000 from all online affiliate and Adsense like things combined and I’ll be satisfied this year if I get to US$1000 per month. I’m a little behind to reach these; so I’ve got to focus a little.
It’s a matter of better allocating my time but I’ll get there!
Source:
I’ve finally broken $100 on Google Adsense
Stop and listen. Here’s Rich Dad’s predictions for this year. When the video ends, at the bottom you can pick parts 2, 3 and 4.
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Rich Dad 2008 Predictions Part 1
