Searching for a rental property can be difficult, especially with how quickly homes are renting these days. With the inventory low, and the current pandemic, we are noticing more and more craigslist scams and they don’t seem to be letting up. Here are some red flags to look out for.
1. Unreasonably low price
If it seems like it’s too good to be true, it most likely is!
2. No direct contact with property manager/owner
If they are only communicating through craigslist and won’t give detailed contact information such as name and phone number, it’s not likely to be legitimate. Always ask for contact information (outside of craigslist) such as their name, the company name i...
With travel bans, stay-at-home orders, and social-distancing mandates, millions of Americans have adapted to the changes brought about by COVID-19. Events have been rescheduled or canceled, but for a few people — including those who already made plans to move — staying put is simply not an option.
Here are some tips for making your move as safe and stress-free as possible.
Do As Much On Your Own As Possible
Even though most states have deemed moving services as “essential”, many smaller companies have reduced hours or have paused business altogether. If you can, try to manage the move on your own.
If you need can’t avoid a moving company completely, do your hom...
As an investor, it is important to be prepared for the unexpected.
Now more than ever we are seeing the grave importance of protecting the future of your investment by building a reserve fund. Your reserve fund is your “emergency” cash fund. A reserve fund should be large enough to cover unexpected situations, not only maintenance that comes up. The amount you want to set aside can vary and depend on property type, size, age, and size of the portfolio, however, a good starting point is 2-4 months’ rent. Remember, a reserve fund for rental properties is an investment itself.
An easy way to calculate a reserve fund for a portfolio with 1-10 properties, add up the following e...
