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.

502 new foreclosures were filed in Massachusetts over this past week, ending Friday, June 26, 2009, 241 less new foreclosed properties than last week with 743 new foreclosure filings.

Broken down by county, Barnstable County had 29 foreclosures, Berkshire County had 6 foreclosures, Bristol County had 37 foreclosures, Dukes County had 1 foreclosures, Essex County had 68 foreclosures, Franklin County had 5 foreclosures, Hampden County had 37 foreclosures, Hampshire County had 5 foreclosures, Middlesex County had 75 foreclosures, Nantucket County had 1 foreclosures, Norfolk County had 34 foreclosures, Plymouth County had 58 foreclosures, Suffolk County had 63 foreclosures, and Worcester County had 83 foreclosures.

The biggest movers from last week to this week were Franklin County (25% increase, 4 -> 5), Berkshire County (0% decrease, 6 -> 6), and Nantucket County (0% decrease, 1 -> 1).

A great, and often untapped resource for deal funding, lies in retirement funds, specifically 401ks and IRAs.

Using Self-Directed IRA accounts, one can invest in "alternative investments" such as real estate, small businesses, and more.

To lean more, we turned to Mike Kobialka on how you can use your - and other people's - IRAs and 401ks to fund your real estate investments.

It's easier than you might think, but there are a few gotchas you MUST be aware of.

Mike Kobialka is going to be our speaker at our upcoming Turning the Key meeting on July 2nd in person in Dedham, MA and LIVE worldwide via video over the web.  I managed to grab a few minutes with him on the phone for a quick pre-meeting interview about Self-Directed IRAs, what they are, and how you can use them. Check out the interview below:

The real estate business is an amazing business. The allure of financial freedom, a flexible work schedule and a skyrocketing personal net worth are seductive icons. We've all seen the infomercials and attended the seminars that are proof certain millions of dollars are just around the corner. But why do so few of us ever attain the goal of financial independence?

We may say to ourselves, "I have read all the books, I attended all the seminars, but this just doesn't seem to be working for me." And therein lies the basic problem.

Most people who participate in the real estate business are honest and hard working. Most people who participate in the real estate business understand the mechanics of the industry (e.g. how to purchase property, how to obtain financing, how to make bona fide offers that are a win-win for both parties, etc.).

743 new foreclosures were filed in Massachusetts over this past week, ending Friday, June 19, 2009, 133 more new foreclosed properties than last week with 610 new foreclosure filings.

Broken down by county, Barnstable County had 33 foreclosures, Berkshire County had 6 foreclosures, Bristol County had 63 foreclosures, Dukes County had 3 foreclosures, Essex County had 98 foreclosures, Franklin County had 4 foreclosures, Hampden County had 61 foreclosures, Hampshire County had 16 foreclosures, Middlesex County had 123 foreclosures, Nantucket County had 1 foreclosures, Norfolk County had 41 foreclosures, Plymouth County had 78 foreclosures, Suffolk County had 106 foreclosures, and Worcester County had 110 foreclosures.

The biggest movers from last week to this week were Suffolk County (63% increase, 65 -> 106), Hampshire County (45% increase, 11 -> 16), and Worcester County (36% increase, 81 -> 110).

"But, what's a steal?" I asked. I had been thinking about investing in another property for some time and wondered, "What's the best way to do it?"

Instead of poring over books and surfing the internet, I asked experienced friends and colleagues who had bought and sold multiple homes as either private investors or professional Realtors. This is what I learned.

First of all, use your own money. "Self-financing allows you to buy cheaper," says Dan Kelley of Kelley & Ryan Associates, Inc., a municipal tax collection firm. In addition to avoiding interest payments, you save money on closing costs. Filing fees, bank attorney fees, appraisal fees, title insurance and points, as well as prepaid taxes, can amount to 2% of your total loan. Self-financing allows you to avoid these costs and puts you in an equity position from the get go.

610 new foreclosures were filed in Massachusetts over this past week, ending Friday, June 12, 2009, 262 more new foreclosed properties than last week with 348 new foreclosure filings.

Broken down by county, Barnstable County had 37 foreclosures, Berkshire County had 13 foreclosures, Bristol County had 50 foreclosures, Essex County had 83 foreclosures, Franklin County had 5 foreclosures, Hampden County had 48 foreclosures, Hampshire County had 11 foreclosures, Middlesex County had 99 foreclosures, Nantucket County had 1 foreclosures, Norfolk County had 40 foreclosures, Plymouth County had 77 foreclosures, Suffolk County had 65 foreclosures, and Worcester County had 81 foreclosures.

The biggest movers from last week to this week were Berkshire County (550% increase, 2 -> 13), Hampshire County (450% increase, 2 -> 11), and Barnstable County (311% increase, 9 -> 37).

Do you want to buy and hold (rent out) investment properties, but not be responsible for the headache of managing them? Do you already own property that you're tired of managing? If so, a professional property management (PM) company may be your answer. Having a PM company oversee your investment property offers a number of advantages, including:

• Riding out a down market while generating positive cash flow
• Maintaining out-of-state properties without having to live in-state or visit
• Enabling you to acquire that perfect retirement property when you're still years away from retirement
• Allowing you to maintain your full time job and recreational activities

In addition, PM companies take care of as much or as little as you specify, including finding good qualified tenants, coordinating showings, paying the bills, enforcing collection of rents, and taking care of all maintenance issues.

How do you go about finding the right property management company? Here are eight essential questions to ask when researching potential property managers; the answers will help you find a company that suits your needs.

348 new foreclosures were filed in Massachusetts over this past week, ending Friday, June 5, 2009, 183 less new foreclosed properties than last week with 531 new foreclosure filings.

Broken down by county, Barnstable County had 9 foreclosures, Berkshire County had 2 foreclosures, Bristol County had 22 foreclosures, Dukes County had 3 foreclosures, Essex County had 51 foreclosures, Franklin County had 5 foreclosures, Hampden County had 31 foreclosures, Hampshire County had 2 foreclosures, Middlesex County had 66 foreclosures, Norfolk County had 22 foreclosures, Plymouth County had 45 foreclosures, Suffolk County had 45 foreclosures, and Worcester County had 45 foreclosures.

The biggest movers from last week to this week were Franklin County (67% increase, 3 -> 5), Plymouth County (6% decrease, 48 -> 45), and Suffolk County (13% decrease, 52 -> 45).

It seems that one can not go more than a day or two without reading or seeing a media report about the tightening real estate market. Whether it's retreating values or diminishing numbers of transactions, it is clear that the boom times may be approaching their end.

With a drop in the sheer number of buyers - and an unprecedented display of patience by those buyers who have jumped into the market - foreclosure investors who intend to sell properties must choose their involvement (and their buyers) wisely. The same fundamental principles that have always applied are even more crucial today: Make projections conservatively and don't accept just any offer that comes along.

Make Projections Conservatively

Consider the statistics. Recent numbers indicate that we are approaching 15-year highs for both quantity of listings and length of time on the market. In this type of environment, the competition to find a suitable buyer is brutal, and comes from both other investors and individuals selling their primary residences.

Some investors are making bank AND helping the environment at the same time.

How?

By 'Going Green' with their properties and making strategic changes, taking advantage of little-known subsidies and increasing their property values.

On June 4th, at Turning the Key, our monthly real estate networking event, we'll have two local architects who know a thing or two about Going Green.

Steve Tise is a practical type architect who excels at user friendly designs while incorporating energy efficiency. He has designed a ton of affordable and market rate housing products throughout the U.S. and the Caribbean. He is also a well sought-after design consultant assisting a number of Housing Authorities nationwide.

John Winslow, a top tier architect focused on the renewable energy and green resources as a trade, is also a sought after design specialist in both affordable housing and market rate properties.

I managed to grab a few minutes with Steve and John on the phone for a quick pre-meeting interview about Going Green. Check out the interview below:

This month we interview Kevin Connell, the Founder and CEO of Accu-Screen, Inc. He is a renowned professional background screening expert, and is recognized for his expertise on negligent hiring, embezzlement, employee theft, and resume fraud in the workplace.  

In this Building Blocks interview, we talk to Kevin about the importance of background screening for both prospective tenants and for the contractors we use for rehabs.

Kevin also shares with us the business reasons and legal reasons for pre-screening and how it can really help your business in the long run.

531 new foreclosures were filed in Massachusetts over this past week, ending Friday, May 29, 2009, 40 more new foreclosed properties than last week with 491 new foreclosure filings.

Broken down by county, Barnstable County had 33 foreclosures, Berkshire County had 3 foreclosures, Bristol County had 47 foreclosures, Dukes County had 4 foreclosures, Essex County had 66 foreclosures, Franklin County had 3 foreclosures, Hampden County had 42 foreclosures, Hampshire County had 6 foreclosures, Middlesex County had 84 foreclosures, Nantucket County had 1 foreclosures, Norfolk County had 50 foreclosures, Plymouth County had 48 foreclosures, Suffolk County had 52 foreclosures, and Worcester County had 92 foreclosures.

The biggest movers from last week to this week were Franklin County (50% increase, 2 -> 3), Norfolk County (35% increase, 37 -> 50), and Plymouth County (30% increase, 37 -> 48).

Finding good tradespeople - including plumbers, electricians, dry wallers, roofers, HVAC and other "trades" experts - to help keep your rental properties shipshape is akin to a crapshoot.

If you're new to the property management game and haven't dealt with tradespeople, it's easy for the bad ones to talk you into services you don't need, to overcharge for labor, and to pass off shoddy workmanship as quality without you ever knowing - especially if you're not at the property on a regular basis overseeing their work.

It's only months later that you find out, after your tenant has moved out, that the bathroom pipe is leaking again, only now you have water damage to the sub-floor because it wasn't fixed properly in the first place.