A scammer was targeting a partner at a large CPA firm in Boise, Id. The Boise business man had a property advertised on craigslist and received an email from “a professor of paleontology from the Netherlands who was moving to Boise for a year and needed a house for himself and his family.”
The professor sent the Boise business man “a $5,000 cashier’s check from a U.S. bank. ‘I’ve been in banking, and this check looked real — the routing numbers were in the right place and everything.’” (more…)
So you have analyzed your situation, and reached the conclusion that renting out your house is the best option. Now you need to set up a plan of action to get your home ready to rent.
First things first, where are you going to live?
• Are you moving in with a roommate?
• Are you going back with mom and dad?
• Are you renting an apartment?
• Are you sleeping in the car? (more…)
If you are still getting calls after you have rented your property, it might be a good idea to double check the rental listing boards to see if someone has reposted it as a rental scam. From Hartford, CT’s WSFB.com
Elisabeth Medaris said someone appears to have stolen images from her old online posting and is using them in an effort to get people to send money by Western Union to Nigeria. (more…)
There has been an up tick in people offering their homes for rent for the inauguration in January. For the most part, the hotels in the area are booked for the week. Now, if you look on Craiglist.org, you see a large amount of people offering their home for rent with some ridiculous weekly rents! (more…)
Step 1: Renting vs Selling - Analyze Your Situation
So you’re at the point where you are not sure what to do with your house. You are in a scenario where you either cannot afford the monthly mortgage payment or where you have to move, but your house is now worth less than your mortgage balance. What do you do? Let’s take a look to see if renting out your property would be a smart move. (more…)
Introduction - Economic Overview
This article is aimed at anyone who has bought a house in the past few years.
If you thought the 2007 real estate market was bad, what do you think of 2008? Forget about just the real estate market, what about the whole 2008 economy! Even Alan Greenspan admits that there were errors1 on the Fed’s part in regards to the current housing downturn and credit crisis. If we had just paid a little bit more attention to what Warren Buffet and Charlie Munger2 said in 2005, “he and Munger issued stern new warnings about the residential real estate ‘bubble’” and “the destabilizing effect of hedge funds on the financial markets.” (more…)
In today’s real estate market, both buyers and sellers are having a arduous time. Many buyers are running into brick walls when trying to obtain mortgage financing, and sellers are dropping the price on their home to attract the small pool of qualified buyers. So if you are one of the many buyers or sellers that do not find the scenario above attractive, there is another option to consider. (more…)
According to an article from Realtor.org,
for-rent housing units reached 2.063 million in the second quarter, as owners who were unable to sell put places up for rent.
More home owners are facing the harsh reality that their house is not worth what it was 1, 2 or even 3 years ago. Becoming a landlord and renting out the property becomes a very attractive option when a person is faced with the possibility of losing tens of thousands of dollars on a sale right now.
Furthermore, if you need help finding a tenant for a rental vacancy, please post a FREE for rent ad.
The “E” word…EVICTION. This is what happens when a tenant stops making their rent payments. The landlord proceeds to file a formal court order to get the tenant out! So what is a constructive eviction?
A constructive eviction is quite the opposite of a regular eviction. It is the landlord’s fault, not the tenants! If a landlord maintains a rental property in an uninhabitable condition, he or she has constructively evicted the tenant from the property. (more…)
So you have gone through the train wreck of a foreclosure process. Your credit score is in the gutters and you are probably worrying that a leasing agent or landlord will not rent to you. But you are luck is now changing! Leasing agents and private landlords will in most cases completely overlook a foreclosure. Lets address and prepare what you will need to explain to a leasing agent or landlord. (more…)
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