Archive for October, 2009

Craigslist Rental Scam Targets the Area

There is a rental scam using Craigslist that has targeted some properties listed for sale on NorthstarMLS. Property information and photos are taken by criminals from public broker/agent Web sites and then listed as a rental home through a Craigslist classified ad at an unbelievably low rate. The landlord-who had to leave the country [...]

There is a rental scam using Craigslist that has targeted some properties listed for sale on NorthstarMLS. Property information and photos are taken by criminals from public broker/agent Web sites and then listed as a rental home through a Craigslist classified ad at an unbelievably low rate. The landlord-who had to leave the country and travel to Nigeria-asks that you wire him two months’ worth of rent. You arrive at the home on the agreed-upon date, but there’s just one small problem-the house is not actually for rent and its owners know nothing about your agreement. This latest scam being perpetrated by Nigerian criminals located halfway around the world has been seen in a number of U.S. states, perhaps in response to the current housing market-with fewer people buying, more people are renting.

What to do if your listing is a victim of this scam

Email the details to abuse [at] craigslist [dot] org. Be sure to include the URL (or 10-digit post ID number) in your message. For further recommendations, check out the Craigslist page on who to notify about fraud attempts. You may also report it to the FBI’s Internet Crime Complaint Center to help them determine the extent of the problem.

Investment Property 201 Seminar: Rent to Own Deals

[ October 21, 2009; 6:30 pm to 8:00 pm. ] Rent to own contracts go by many names (and take many forms):  rent to own, contract for dead, lease option, etc.  These are creative ways that landlords and tenants/buyers have put together to allow someone with marginal credit (tenant) to buy the house they want.  Depending upon how the relationship is constructed and documented, it [...]

Rent to own contracts go by many names (and take many forms):  rent to own, contract for dead, lease option, etc.  These are creative ways that landlords and tenants/buyers have put together to allow someone with marginal credit (tenant) to buy the house they want.  Depending upon how the relationship is constructed and documented, it can be a win/win or a lose/lose for both parties.

On Wednesday, October 21, the Minnesota Real Estate Team will be holding is next Investment Property 201 seminar.  We will have Attorney, Matt Engel discussing how to best architect these relationships.  He will demonstrate the pitfalls and common mistakes that many landlords make and how to avoid them.  Matt will explain the best design for these relationships to minimize the legal ramifications if the relationship goes poorly.

Join us on October 21 at 6:30 pm if you have previously written these deals or have always had an interest in them.  Contact us now by filling out the registration form or call me at 612-281-5419 for more information.

Section 8 Landlord Workshops

[ September 15, 2009; 1:30 pm to 2:30 pm. October 13, 2009; 1:30 pm to 2:30 pm. ] The Minneapolis Public Housing Association is putting on a series of workshops for landlords that are new to the Section 8 program.  I recommend that anyone that has a new Section 8 tenant or is interested in renting to Section 8 tenants attend this orientation.  It has good information and you can get your questions [...]

The Minneapolis Public Housing Association is putting on a series of workshops for landlords that are new to the Section 8 program.  I recommend that anyone that has a new Section 8 tenant or is interested in renting to Section 8 tenants attend this orientation.  It has good information and you can get your questions answered.  Registration is not required.  Just show up!

• September 15 @ 1:30 pm
• October 13 @ 1:30 pm
• December 8 @ 1:30 pm
• December 15 @ 1:30 pm

All workshops are being held at the Minneapolis Public Housing Authority office at 1001 Washington Ave N, Minneapolis, MN  55401.