Michigan Right to Work – I smell appreciation

For us left in MI, here’s some sobering stats and realities. Per the Wall Street Journal:Anibal Group LLC RealtyNetWorth.com real estate broker Fenton Linden Hartland Lakefront Investments Consulting Management Tax

“Between 1980 and 2011, total employment in right-to-work states grew by 71%, .. in non-right-to-work states … 32%. .. in Michigan … 14% during that time…. inflation-adjusted compensation grew 12% in right-to-work states, but just 3% in the others….

…the bill he signed into law on Tuesday is “pro-worker,” …does not change any aspect of collective bargaining other than preventing employees from getting fired for choosing not to join or remain in a union and pay union dues or agency fees, which may go toward political causes they don’t support. Options are of course part of the reason America was formed, in contrast with communist & socialist economies.

The good news ? MI just became a RTW state – as such, we are now in competition for importing businesses & workers to fill new jobs. This should bring buyers where we’ve had sellers for so long. Those that are against this new law I can’t really agree with, to wit: “Collective bargaining still exists … workers are of course free to organize….”

[MI is the only state to loose population in the last 10 yrs…. the statistics go on and are overwhelming in their conclusion ….so what is this guy thinking >]    “…Democratic Rep. Doug Geiss threatened: “There will be blood. . . . There will be repercussions.”

http://online.wsj.com/article/SB10001424127887323981504578175263199214992.html

DIY Buyers….Due diligence

Due diligence is the name of the game when buying a home online. Craigslist & eBay … all chances to be scammed.

Advice boils down to research.

  • Research the house,
  • find out who has the title,
  • confirm the square footage and lot measurements,
  • find out if that lot can be built on or subdivided.
  • The estimated value of the property could be out of date. Find out if there are any development plans for the neighborhood.
  • Are there code violations, back taxes, demolition orders?
  • Does the seller really own the house?  <<< This is a good one for renters, yes, many folks are now renting from someone repping a vacant house they don’t own !

Secrets of House Flippers

To help pay for my way thru college, I had to learn to invest in property in my junior year. Here’s an article with some merits based on my years of rehab/reuse/renting out.

…. According to RealtyTrac.com, an online marketplace of foreclosed properties, investors flipped close to 100,000 homes in the first half of the year, making almost $30,000 per flip, on average.

  1. Assemble a team of experts.
  2. Look for potential.
  3. Do the math.
  4. Design for buyers, not yourself.

Related link: How We Made A Million Dollars Recycling Great Old Houses [Sam Weir, Mary Weir]