Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got quick video on how to protect your vacant properties and investments.
Protecting Vacant Properties – Were You Aware?
- Theft – ac units, copper pipes, window units
- Vandalism – broken window, grafiti, total trashing
- Most insurance policies expire after 30-60 days of vacancy
Potential Issues When Protecting Vacant Property
- No electricity for home alarms
- Foreclosure – address data readily available
- Internal theft – contractors
- No relationship with neighbors
Tips To Vacant Property Protection
1. Always keep your garage doors closed and locked – add an extra padlock/bolt to the opposite side
2. Unless house is being shown – request all blinds to be closed – realtor
3. Put the mail on hold, have it sent to another address, or have routine pick-ups/check-ups
4. Change locks accordingly – change of contractors, loss of key by realtor, stolen lock box
5. Suppress signage until you are ready to sell
6. Realtor Log – When property is being shown – you know who has had access
7. Monitor the local news and reports of burglaries
8. Befriend the neighbors – my biggest tool
9. Verify the coverage of your insurance and when it expires
10. Light timers – home depot
11. Permission for your neighbors to use your driveway – no oil drips please
12. Beware of Dog Signs
13. Security Sign, window stickers
14. Extremes – barking dog sounds, cameras
External
15. Winterize your pipes
16. Keep all landscaping maintained
17. Shrubbery should never block view of doors or windows – good hiding place
18. Periodically run the water – flush, turn on shower, tub, etc. Prevent future draining issues
As real estate investors, it's essential to protect your vacant properties. A stolen ac unit, a break-in, some graffiti on your freshly painted exterior, is all it takes to ruin your peace of mind. You will wonder, will the thief or vandal come back? And yes, you will lose sleep over this. So to prevent this, simply apply some of these simple tips suggested and you will drastically reduce the chances of anything bad happening to your real estate investments.
Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.
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