July 2009 Archives

542 new foreclosures were filed in Massachusetts over this past week, ending Friday, July 31, 2009, 5 more new foreclosed properties than last week with 537 new foreclosure filings.

Broken down by county, Barnstable County had 22 foreclosures, Berkshire County had 6 foreclosures, Bristol County had 54 foreclosures, Essex County had 75 foreclosures, Franklin County had 4 foreclosures, Hampden County had 35 foreclosures, Hampshire County had 3 foreclosures, Middlesex County had 102 foreclosures, Nantucket County had 2 foreclosures, Norfolk County had 39 foreclosures, Plymouth County had 62 foreclosures, Suffolk County had 46 foreclosures, and Worcester County had 92 foreclosures.

The biggest movers from last week to this week were Franklin County (100% increase, 2 -> 4), Norfolk County (34% increase, 29 -> 39), and Bristol County (20% increase, 45 -> 54).

Long time ForeclosuresMass Member and Boston local Tito Jackson is running for Boston City Councilor-at-Large and we wanted to learn more about what he's campaigning for, what's happening with the real estate market in Boston, what he plans to do about it and how this all affects real estate investors.

We caught up with Tito Jackson on the way out of the State House and asked him these questions and more.

ForeclosuresMass Monthly: How did you find yourself running for Boston City Councilor-at-Large?

Tito Jackson: I've been a life long resident of Boston and was born and raised in Dorchester, MA. I've always wanted to do more for the city. Recently, I worked in Governor Deval Patrick administration in the economic development department. I wanted to drill down deeper and help the city I grew up in to be better a place.

FMM: What are the major issues that you're campaigning for?

If you're an entrepreneur and you plan to be in business for a while then you must start now to build your credit.  If you wait, you simply lose the time that you could have been using to build your business credit.

There are just too many advantages of using business credit.  I will pull back the curtain on both business credit and using your personal credit to fund your business.

Here's the beauty of business credit...

1. It's based on the TAX ID number you get from the IRS - You can have as many corporations as you'd like
2. You aren't penalized for inquiries
3. The more money you get access to the better you look to vendors and other lenders

537 new foreclosures were filed in Massachusetts over this past week, ending Friday, July 24, 2009, 41 more new foreclosed properties than last week with 496 new foreclosure filings.

Broken down by county, Barnstable County had 27 foreclosures, Berkshire County had 8 foreclosures, Bristol County had 45 foreclosures, Essex County had 66 foreclosures, Franklin County had 2 foreclosures, Hampden County had 39 foreclosures, Hampshire County had 10 foreclosures, Middlesex County had 90 foreclosures, Nantucket County had 2 foreclosures, Norfolk County had 29 foreclosures, Plymouth County had 61 foreclosures, Suffolk County had 57 foreclosures, and Worcester County had 101 foreclosures.

The biggest movers from last week to this week were Berkshire County (167% increase, 3 -> 8), Hampshire County (150% increase, 4 -> 10), and Bristol County (25% increase, 36 -> 45).

There are many different theories about getting business credit.

It's not that hard to get some form of credit for your corporation or business, but if you aren't doing certain things right, you probably aren't getting the most amount of credit you could be entitled to.

I've broken all the following rules, but I was still able to get $93,000 in business credit in just 3 months.

Could I have received a lot more?  Sure, but sometimes good is good enough.

However, if you want to get the maximum amount of credit for your business then make sure you follow these rules.

496 new foreclosures were filed in Massachusetts over this past week, ending Friday, July 17, 2009, 163 less new foreclosed properties than last week with 659 new foreclosure filings.

Broken down by county, Barnstable County had 27 foreclosures, Berkshire County had 3 foreclosures, Bristol County had 36 foreclosures, Essex County had 79 foreclosures, Franklin County had 4 foreclosures, Hampden County had 37 foreclosures, Hampshire County had 4 foreclosures, Middlesex County had 72 foreclosures, Nantucket County had 2 foreclosures, Norfolk County had 30 foreclosures, Plymouth County had 52 foreclosures, Suffolk County had 55 foreclosures, and Worcester County had 95 foreclosures.

The biggest movers from last week to this week were Franklin County (0% decrease, 4 -> 4), Nantucket County (0% decrease, 2 -> 2), and Worcester County (1% decrease, 96 -> 95).

The 1031 tax deferred exchange is a powerful tool.

In a nutshell, it is an IRS approved method that allows you to sell your real estate property and reinvest in another property (or properties), deferring federal (and most state) capital gains taxes.

When the exchange meets the 1031 criteria (more on this below), the taxes are deferred until sometime in the future, usually when the newly acquired property is sold. For individually held investments, the deferral can continue through any number of exchanges, even until the tax liability passes into the individual's estate.

The intent of the delayed property exchange is that you have an actual continuation of your old property investment into your new replacement property. Needless to say, this is a terrific way to continue the growth of your original investment while minimizing the tax consequences.

659 new foreclosures were filed in Massachusetts over this past week, ending Friday, July 10, 2009, 40 less new foreclosed properties than last week with 699 new foreclosure filings.

Broken down by county, Barnstable County had 36 foreclosures, Berkshire County had 5 foreclosures, Bristol County had 62 foreclosures, Essex County had 82 foreclosures, Franklin County had 4 foreclosures, Hampden County had 48 foreclosures, Hampshire County had 9 foreclosures, Middlesex County had 107 foreclosures, Nantucket County had 2 foreclosures, Norfolk County had 49 foreclosures, Plymouth County had 75 foreclosures, Suffolk County had 84 foreclosures, and Worcester County had 96 foreclosures.

The biggest movers from last week to this week were Barnstable County (20% increase, 30 -> 36), Middlesex County (6% increase, 101 -> 107), and Bristol County (2% increase, 61 -> 62).

Do you ever sit back and question why the business credit bureaus are in business? If you ever stopped to think about it, you would begin to understand that they are private companies in it to make a buck... a serious buck.

Before, I pull back the curtain on the business credit bureaus, it's important to know that there are two main credit bureaus, Dun & Bradstreet (D&B) and Corporate Experian. Sure, there are countless others, but these are the main ones you should know about because most lenders and companies go to these guys.

Both D&B and Experian rate your business by giving you a score. D&B has a Paydex score and Experian has an Intelliscore.

These scores are important to you because they determine just how much credit you can get.

699 new foreclosures were filed in Massachusetts over this past week, ending Friday, July 3, 2009, 197 more new foreclosed properties than last week with 502 new foreclosure filings.

Broken down by county, Barnstable County had 30 foreclosures, Berkshire County had 6 foreclosures, Bristol County had 61 foreclosures, Dukes County had 1 foreclosures, Essex County had 90 foreclosures, Franklin County had 7 foreclosures, Hampden County had 66 foreclosures, Hampshire County had 10 foreclosures, Middlesex County had 101 foreclosures, Nantucket County had 2 foreclosures, Norfolk County had 57 foreclosures, Plymouth County had 79 foreclosures, Suffolk County had 83 foreclosures, and Worcester County had 106 foreclosures.

The biggest movers from last week to this week were Hampshire County (100% increase, 5 -> 10), Nantucket County (100% increase, 1 -> 2), and Hampden County (78% increase, 37 -> 66).

Motivated buyers. Motivated sellers. Real estate investors. Home improvement specialists. Home inspectors. Electricians. Appraisers. Bankers. Mortgage Brokers. Real estate attorneys. The list of people you need to run a successful real estate investment business is endless. And with limited marketing dollars, how do you stay top of mind so your contacts think of you when they hear of new opportunities or a great service provider? The answer is: networking.

Effective networking allows you to create a virtual "sales force" of people who want to help you - people who are looking for new business opportunities for you, share information on trends, and make sure you stay in the market "loop."

There are numerous organizations for you to network with other real estate investors as well as other business people in general. But effective networking is about more than showing up at the events and shaking hands. To become a master of networking, follow these five steps.