9.28.2007

BEWARE OF CONTRACTORS

I caught tonight's 20/20 on ABC television and the subject was real estate. One segment was about hiring contractors for home improvements.

There was a heartbreaking story of this family who paid over $31,000 in cash to a contractor and had no contract. These poor people were scammed and following the "work" the contractor did there was still over $41,000 of work to fix the problems.

Beyond the issue they paid cash which can't be traced and that there was not contract these people did not do their due diligence investigation. Use your friends and family's past experiences to find someone that you can trust, use the Internet to investigate contractors, and use websites such as angie's list to investigate people's past work.

Rule 1 no cash
Rule 2 have a signed contract
Rule 3 have all changes in writhing signed by the contractor
Rule 4 do some investigation before you hire someone.

http://www.lawcpg.com/

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9.25.2007

FORECLOSE THIS

This article in the Detroit News says it all.

http://www.detnews.com/apps/pbcs.dll/article?AID=/20070918/BIZ03/709180350

Michigan has an extremely tough economy right now. Coupled with the trickle down effect of the UAW strike people need to be careful and smart. You may need to do some seller financing through lease options to buy or land sale contacts.

Don't get caught up on the negative talk use this as an opportunity to build your real estate business.

http://www.lawcpg.com/

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