We hate to say it, but the world can sometimes be a dangerous place.
When in comes to real estate investing, it pays to sleep with one eye open. Okay, that may be a little dramatic but, the point is to expect the unexpected. When you are dealing with an unoccupied property, it can present a tempting target for potential thieves.
So take steps to secure your property from day one.
Smile, You’re On Camera
Nothing deters a criminal like knowing his or her face could end up in the paper or, worse, splashed across a police officer’s desk. So think about installing a simple, electronic security system. It’s easy and inexpensive to install some security cameras on the property. In fact, Home Depot has some options for wireless outdoor security cameras as low as $59.99. Don’t want to invest even that much? Consider a faux security system complete with dummy cameras and signage. A hasty thief may not be able to tell the difference.
Lock Up Your Valuables
And when we say valuables, we mean any tools, appliances, or building supplies that a criminal may find appealing and easy to poach. Take a good look around your job site each night and find a home for any items that could easily walk away. Don’t give criminals a reason to consider your project for their next caper.
Let There Be Light
It should be obvious to most that darkness is not your friend when you are trying to protect your property. It is much easier for potential criminals to sneak around undetected in pitch blackness. So, for that reason, consider installing outdoor motion-detecting flood lights as well as indoor lights on a timer to make a vacant house look lived in.
Display Your Lockbox Discreetly
Although a lockbox can be handy when contractors are coming and going or realtors are showing the home, it can also lure danger. A lockbox hanging on a home’s front door practically shouts “vacant house” to a potential criminal. Consider putting the lockbox on a rear door instead to avoid giving such a blatant signal that no one is at home.
Be A Good Neighbor
Arguably the best way to ensure a safe job site is to get to know your neighbors. They can be your eyes and ears while you’re not physically present. Provide them with your contact information and ask them to let you know if anything seems out of the ordinary. If there is an active neighborhood watch program, it might pay to join it and stay in the loop as far as local crime is concerned.
A successful real estate investor knows to expect the unexpected and plan accordingly. When it comes to the safety of your next project, planning ahead is key. The same can be said for lining up financing. Whether you are considering a fix and flip just down the road or down at the shore, Navigator Private Capital can help. Reach out to us at 443.603.0193 or at info@gonavcap.com to discuss the ins and outs of our flexible financing arrangements. To get the ball rolling, fill out the pre-application on our website or, if you already have the house under contract, go ahead and complete the full application to ensure fast approval. And for more about our loan application process, take a look at this short video.