It's a great time to buy property. Interest rates are low, the economy is strong, and in our particular corner of the world, there's never been higher demand for rentals. If you're considering expanding into the world of multifamily rental properties, here are a few reasons to pull the trigger:
Small Loans are Easy to Obtain The smaller the loan, the smaller the risk, which is why loans for small, multifamily properties are often easy to obtain. Scott Safadi of Cal Bay Property Management advises prospective investors to weigh the underwriting standards for small buildings versus larger ones. You'll be pleasantly surprised to find the smaller the property, the less stringent the standards. Renters Prefer Smaller Buildings While sprawling apartment communities have their perks, most renters prefer small, intimate buildings. More people often require more rules, and small multifamily communities feel more homey. Tenants want to live where everyone knows their name! Property Management Companies Put Your Investment on Autopilot Success in real estate investment comes not from savvy purchases but from the day-to-day management of your community. Qualifying tenants for leasing, placing them in an apartment, and managing their daily questions and concerns is a full-time job, though. With a company like Cal Bay Property Management at the helm, you'll never need to worry about the minutia of managing tenant needs. - Scott Safadi, Cal Bay Property Management
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Protecting Your Investment with Earthquake Insurance
posted on strikingly and weebly IG: Recent earthquakes have many property owners wondering: do I have enough insurance coverage? We tackle the subject in this week's blog post. #calbaypropertymanagement #scottsafadi Believe it or not, 90 percent of California homeowners don't have earthquake insurance. For as much anxiety as the region's tectonic activity brings to residents, many people are clueless about their insurance coverage as it pertains to earthquake damage. Since standard renter's and homeowner's insurance doesn't typically include this kind of coverage, many opt not to add on the additional protection. Just 13 percent of San Francisco homeowners have earthquake insurance. 20 percent of San Francisco tenants have such coverage in their renter's insurance. Without it, homeowners and tenants alike are stuck with the bill of any damage caused in an earthquake. So how much earthquake insurance should you carry? Tally up your home or rental property's rebuild costs along with the value of any personal property on site. You may also want to include the cost of emergency repairs, loss of use costs, and additional living expenses associated with relocating after an earthquake. This ballpark figure can help you better understand the amount of coverage you need. While the added expense of earthquake insurance may seem like an unnecessary precaution, homeowners, rental property owners and tenants in the Bay Area can benefit from this kind of coverage. Talk with your insurance provider about your options - you may be surprised by how much coverage you can get for just a few dollars more per month. -- Scott Safadi, Cal Bay Property Management It's the spookiest time of the year, and with these fun DIYs, you can have the scariest display around. Before putting up your decorations, be sure you're complying with your community's guidelines and are respectful of neighbors. The best Halloween decor manages to frighten without offending!
Revenge of the Recycled Rather than purchase new decor from the store, look through your belongings for ideas. Your kids' old dolls or craft supplies may be all you need to create something spooky. Replace stuffed animal eyes with glowing LEDs, or use makeup to create zombie effects on dolls. Not only is this DIY affordable, but it's also good for the environment! Wreath of Faces For this DIY, attach paper Halloween masks to a floral craft wreath from the store. Printable versions are available in every size, shape, and style, giving you endless opportunities to customize your project. Use 10-15 for your wreath, hot gluing the overlapped masks on an 18-inch craft ring. Strings of Sweetness Some people hate candy corn. Others can't get enough of the stuff. However you feel about the stuff, there's no denying how eye-catching it can be. With this in mind, create a candy corn garland by threading fishing line through a needle. Poke through the candy pieces, avoiding spots where the colors meet. Hang along your stairway or a fireplace mantel for display. -- Scott Safadi, Cal Bay Property Management |
AuthorScott Safadi leverages extensive experience in the real estate industry to serve as the CEO of Cal Bay Property Management (CBPM), which he founded in Palo Alto, California. Archives
January 2020
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