Note Investing - Winterizing Properties
Good morning everybody, Chris Seveney from 7E Investments and The Good Deeds Note Investing Podcast. On my morning drive, as I stepped out the door this morning, it was pretty brisk up in the Washington dc area and got me thinking about making sure all my properties are winterized.
This is a good topic to discuss in Note Investing as if you had a property that may have been vacant and was winterized last year, it should still be winterized this year. The winterization process should last a while, but it's always recommended to get it done every year. Secondly, if you do have some borrowers who have recently gone nonperforming in colder climates, do an occupancy check. Your property preservation company can typically do it for like $20-$25, or send out a door knocker.
Whoever you choose, you definitely want to check on making sure that borrowers are still occupying that property. Last thing you want to find out is the borrower moved out, property's is no longer occupied, and you got to deal with frozen pipes. This is not a great feeling as a note investor. So hope you enjoyed this and enjoy the rest of your day. If you have any questions or feedback, feel free to reach me at Chris@7einvestments.com. Thanks.
