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Hello and Welcome!
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One of the fundamental steps in profiting from a foreclosed property is,
of course, selecting the property in the first place. That much is
obvious. What isn't so clear however, are the factors involved in making
a good decision. With that in mind, this edition of ForeclosuresMass
Monthly tackles the topic of finding an appropriate property for
investment.
We begin with an information-packed article from Kris Sawyer, president
and founder of Redlands Construction Inc, a residential remodeling
company. In her article, "5 Must Haves in Screening and Hiring a General
Contractor," Kris takes explains the essentials of working with this key
member of your property acquisition and improvement team.
Next, we hear from David Camiel, partner in the law firm of Gilmartin,
Magence, Camiel and Ross LLP. David's been professionally involved in
real estate since 1994 - both as an attorney and a mortgage banker - and
he pulls no punches in detailing the legal landmines that are often
associated with the purchase of a pre-foreclosure property. David's
article is a must-read article for any investor.
In our "Interview with the Expert," you'll hear from veteran home
inspector, Flemming Lund, president of Apex Home Inspection, as he
candidly answers our questions about how best to find and work with a home
inspector. We think you'll find his thoughts regarding investments in
older homes - a common scenario here in New England - of particular
interest!
* Next 37 17 investors only!
Finally, regularly contributing expert Debbie Siegel brings us her
Mortgage Minute, our monthly short feature on what goes on behind the
scenes in getting your foreclosure investments financed. This month's
segment - "Some Points About Points" - explains how mortgage points work,
and as importantly, how to determine whether or not paying points makes
sense on your next purchase.
Enjoy the summer, and if you haven't done so already, make sure to
register for our upcoming "Opening
the Door to Profit," full-day course on August 5th.
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Jeremy B. Shapiro
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Sheila Farragher-Gemma
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Co-Founders, ForeclosuresMass.com
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