For us left in MI, here’s some sobering stats and realities. Per the Wall Street Journal:
“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.
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.”
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- The estimated value of the property could be out of date.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 !
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.
- Assemble a team of experts.
- Look for potential.
- Do the math.
- Design for buyers, not yourself.
Related link: How We Made A Million Dollars Recycling Great Old Houses [Sam Weir, Mary Weir]