Have you ever heard the saying, never judge a book by its cover. Well the same goes with houses. You can never judge a what the value, repair, and or price of a house just by looking at the outside. If you do you can be in for a big surprise. Check this out.
Oh yeah and remember when going out to check out houses Safty first!!
Real Life Real Estate Investing
Safety First!
Part of the fun of being real estate entrepreneurs is that we get to meet a lot of different people from all walks of life. Unfortunately, even a perfunctory glance at the daily paper – or, god forbid, the evening news – tells us that we also live in a violent and unpredictable world. As investors and housing providers, we need to take steps to protect ourselves from becoming victims of violent crime. With the entry of increasing numbers of women into our business, this is a timely and important topic. Here are some ideas about how to be less vulnerable to the whims of criminals.
1. When possible, travel in pairs. Whether you’re looking at houses or showing units, take a pal with you. When this isn’t practical, make it look like someone knows where you are and is expecting you. I carry a cell phone when showing vacant homes; the potential tenant sees me “talking” on it when they get there, and hears me telling my husband where I am and that I’ll be home in about half an hour. In reality, my phone is set to 911, ready to dial when I hit the “send” button.
2. Be aware of your surroundings. When showing units, make certain that you know where each applicant is. Know the layout, so that you cannot be trapped in a room with no egress. When looking at a vacant property, walk around it first to make sure that there aren’t any open doors or broken windows where someone might have entered. Check before entering that you’re not being observed by someone who might try to follow you in. Lock the door behind you, AFTER calling out and listening carefully for any sounds inside the property. Vacant buildings are a favorite hangout for drug users and teenagers looking for a quiet place for romance.
3. Be suspicious of anyone who wants to see a vacant property. At least twice a year, a real estate agent in the United States is murdered by a “buyer” who schedules an appointment on a vacant property after dark or in a secluded location. Always get – and check – a phone number from a potential buyer or renter before setting up an appointment to show a property. If the buyer claims to be in from out of town or to not have a phone, meet them first at a public place (fast food joint or gas station) before taking them to the property. Make sure they know that a lot of people have seen you together.
4. Live at your P.O. Box. If you have a home office, there’s no reason to let tenants or applicants know where it is. All closings and lease signings should be done at an attorney’s office or at the property. All rents and other correspondence should be mailed to your P.O. Box. Request a phone book listing that has no address. If your tenant later becomes disgruntled with you, do you really want him to know where to find you? And don’t forget that many people that you deal with on a professional basis are under the impression that you’re quite wealthy – why make your home a target for potential thieves?
5. Keep your mouth shut. Don’t brag to customers that you own multiple units. Don’t drive the Ferrari to show apartments. Don’t tell tenants you’re the owner of the property, tell them you’re the manager. There are folks out there who are more than happy to relieve you of your assets via a nuisance lawsuit or worse, a mugging. Letting people know that you’ve got the bucks just paints a big target on your back. Plus, showing your wealth puts other members of your family at risk. Have you ever heard of anyone kidnapping the maintenance man’s kid?
6. Trust your gut. When something feels “wrong” about a situation, get out quickly and don’t worry about how it looks. Fake an asthma attack and go to your car to get your inhaler. Push that send button and let the 911 operator hear what you’re saying. Do whatever you must to protect yourself. No deal is worth your life.
Reprinted from the Real Deal, a monthly newsletter for Real Life Real Estate Investors with permission of Vena Jones-Cox. Get a free 3-month trial subscription by logging onto www.regoddess.com. One per household, please.
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