Real Estate Investing Pros Versus Squatters
by Fortune Builders
Stories of squatters taking over homes and trying to lay claim to
them are making it into the news at a rapidly increasing rate. Some of
these squatters have even gone as far as to set up websites encouraging
others to follow suit and take over a large number of properties from
Texas to Georgia. Clearly, this has serious consequences for those in
the real estate investing business…
Under ‘adverse possession’ laws these squatters are wreaking havoc on
real estate investing company’s plans, causing banks and lenders
enormous amounts of frustration, angering neighbors who worked hard to
pay for their homes and even victimizing homeowners who are away on
extended trips.
Real estate investing pros can’t afford to ignore this growing
problem. Acquiring properties which have ongoing title disputes and
unwanted occupants can be expensive and crash your cash flow. This
makes it absolutely essential to execute your closing day walk-throughs
or face potential losses instead of profits from flipping houses. Even
after you close your vacant investment properties are prime targets.
So what should real estate investing pros be doing to fight back?
This is a great opportunity to collaborate with and build relationships
with other investors by watching out for each others properties as well
as differentiating your real estate investing company form the
competition. Let buyers, especially end investors know exactly what you
are doing to prevent this from happening on your homes to make the
houses you are flipping more attractive.
Analyze what actions you can take to beef up your security measures
and conduct random site inspections. This doesn’t have to cost a ton of
money and if anything will save you big time. Keyless locks and
outsourcing inspections can be very affordable and actually be combined
with your current property management efforts to enhance them and shave
overhead.
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