How to Spot a Rental Scam

Spotting a rental scam can be crucial in protecting yourself from financial loss and potential fraud.

Recently, we were looking for a room for rent. It sounded like an ideal place, in the right location, for the right amount. My alarm bells should have been sounding from the get-go. But we decided to proceed. Everything seemed typical until we got to the part where she discussed rental and application fees. No biggie right – no scam alerts yet. Then she stated that he would have to fill out an application to view the room under the premise that if he didn’t like it, it would be refunded. 

There it was – alarm bells. I immediately did a reverse look-up of the number to see if the name provided matched – and no info could be found – another alarm bell. He told her to contact me and guess what – no calls. Thankfully, I was able to catch this before any money was provided or an actual email was given – as this is where they can hack you as well. 

Without further delay, here are some signs that may indicate a rental scam:

  • Unrealistic or too-good-to-be-true offers: Scammers often lure victims with exceptionally low prices or luxurious properties at a fraction of the market rate. If the deal appears too good to be true, it’s likely a scam.
  • Request for upfront payment or wire transfers: If the landlord or agent asks you to wire money or pay a large sum upfront before signing any documents or viewing the property, it’s a red flag. Legitimate landlords typically require a security deposit or first-month’s rent after signing a lease agreement.
  • Absence of property viewings: Scammers may provide excuses for not allowing you to visit the property or claim they are currently out of town. They might even offer fabricated reasons such as renovations or ongoing repairs. Always insist on visiting the property before making any payments.
  • Lack of proper documentation: Legitimate landlords will provide a lease agreement or rental contract outlining the terms and conditions. Be wary of landlords who refuse to provide written documentation or use generic, poorly constructed contracts.
  • Pressure tactics and urgency: Scammers may use high-pressure tactics, claiming that there are multiple interested parties or that you need to act quickly to secure the rental. They want you to make impulsive decisions without thoroughly considering the details.
  • Communication irregularities: Poor grammar, spelling mistakes, excessive capitalization, or generic email responses can indicate a scam. Legitimate landlords and agents generally maintain professional communication.
  • Unverified or untraceable contacts: Scammers often use untraceable email addresses, generic names, or free online messaging services. They may avoid providing a physical address or use fake contact information.
  • Inability to meet in person: If the landlord or agent refuses to meet you face-to-face or conduct video calls, it raises suspicion. Physical interaction and communication are essential when dealing with rental properties.
  • Duplicate listings or stolen property images: Scammers may copy legitimate rental listings from reputable websites and repost them with altered contact details. Perform a reverse image search to check if the property photos are stolen from elsewhere.
  • Trust your instincts: If something feels off or doesn’t seem right, trust your gut feeling. It’s better to walk away from a potentially fraudulent situation than to risk losing your money or personal information.

Remember, scammers continuously come up with new tactics, so stay vigilant and educate yourself about common rental scams. Whenever possible, work with reputable real estate agents, use trusted rental platforms, and conduct thorough research before entering into any agreements.

If you are looking to buy or sell or need an agent to help provide resources, check out our PCS map below and click on “Connect with the PCS Professional” at the location you need. 

Military Move Network Map

Click here to access our PCS Map

Our military map has lots of resources for every military base within the United States including schools, base housing, colleges, Facebook groups, and connections to local real estate agents that are military affiliated and provide OUR credit

Continue Reading

What is a VA Assumable Loan ?

A VA assumable loan refers to a mortgage loan that is backed by the Department of Veterans Affairs (VA). It can be assumed by another eligible borrower. When a VA loan is assumable, it means that a new buyer can take over the existing loan and assume responsibility for its terms and conditions. 

In a typical home sale, the buyer secures their own financing by applying for a new mortgage with whatever bank they choose. However, with an assumable VA loan, the buyer has the option to assume the existing loan of the seller. This assumes they meet certain eligibility criteria set by the VA. This process is done with the bank that is servicing the current loan.

Assuming a VA loan can be advantageous for the buyer because they may be able to take advantage of the existing loan’s favorable terms, such as a low interest rate or a lower down payment requirement. In essence, the new borrower picks up the remaining balance from the original borrower. This can potentially save the buyer money compared to obtaining a new loan. 

To assume a VA loan, the buyer must qualify for VA loan eligibility requirements. This can include being a qualified veteran, active-duty service member, or an eligible surviving spouse. This allows the current VA loan holder to restore their entitlement. Otherwise, if the person wanting to assume does not qualify for a VA loan, they can still assume the loan; however, the VA member’s entitlement is now tied up in the property until that mortgage is paid in full (via a refinance, sale of the home, or balance payoff). The assumption process involves obtaining the lender’s approval, completing necessary paperwork, and meeting any additional requirements set by the VA and the lender.

It’s important to note that not all VA loans are assumable. The specific terms and conditions of assumability can vary, depending on when the loan was originated and any subsequent changes in VA regulations. Therefore, it’s crucial for both the buyer and seller to consult with the lender and review the loan documents to determine if assumption is a viable option. However most loans originated after March 1, 1988 are eligible. Currently, VA assumptions are taking between 45-60 days up to 6 months to complete the process from beginning to end. 

So why doesn’t everyone do them? Well, what most fail to realize is that in order to maximize on this – there is generally an equity gap. If the current owner has a lot of equity, the new owner will have to bring in a large down payment to cover the gap. For example, let’s say the owners loan payoff is $100k. They originally paid $150k  for the home. Now the home is worth $225k on the open market. The new borrower would have to bring in $125k (difference between market value and what is owed or $225k-$100k in our example) + closing costs in certain areas. This can be difficult if new borrower has limited funds. 

Overall, the timing of how long the process can take is a negative in most sellers eyes who want or need to get out of the property quickly. If a new buyer can bring in the necessary funds though, this can be a great option. 

If you have questions about the VA assumable loan or other topics, leave us a comment! 

Military Move Network Map

Click here to access our PCS Map

Our military maps has lots of resources for every military base within the United states including schools, base housing, colleges, Facebook groups, and connections to local real estate agents that are military affiliated and provide OUR credit

Continue Reading

5 Incredible Tips For Your Next DITY Move

5 Tips for a DITY Move

Seven years into the Coast Guard as a significant other/spouse and I was on PCS #3.  Already knowing we had acquired more than our allotted weight amount, I had the brilliant idea of doing a DITY (Do It Yourself) move. 

Ha!

For any of you that have done a DITY move, you either find the positives, or you hate it and choose to not do it again.

Okay, Kelsey – so what is your story? 

My mother had moved in with us – yes, how lucky of my husband.  So we got all the wonderful antique pieces that better be wrapped beyond wrapped to ensure no damage comes to it, and her 10 year-old dog.  

Let me paint this full picture for you.

We were going to move 3 adults, 1 toddler, 2 dogs, 2 vehicles, and yes, the truck.  No, it gets better. Which leads into my 5 incredibly awesome tips to make sure your DITY moves goes much smoother than mine – trust me!Tips for DIY Moves

Tip #1 – Do Not Underestimate Your Stuff

So my husband and his co-workers are packing up the truck. I provided beverages and pizza.  Apparently, they budget trucksupplied their own adult beverages too because when I saw the way they packed the truck – well let’s just say it isn’t the way I would have done it.

I think at the point when I saw the rental truck 90% full and we still had 35% sitting in the garage – I freaked out.  Yes friends, we now went from the BIGGEST truck they would rent to us to the realization that we needed a 2nd truck (oh and a trailer for one of the cars as someone had to drive the 2nd truck).  That $750 hurt.  After all, one reason we do DITY moves is to make some money (which ultimately we did), but oh my goodness! Look at the guides the rental companies provide – we had a 3 bedroom house with a 3 bedroom truck – nope, did not fit.  Give yourself a buffer!

~ I recommend Budget – they provide great military discounts.

Look at the guides the rental companies provide and give yourself a buffer

Tip #2 – Downsize and Donate

Have your kids not played with their “favorite” toys in 8 months? You haven’t worn that ball gown that you wore to the ball in two years?  The reclining couch is on its last hinge?  It is time for a yard-sale or time to gift younger members from your unit your stuff.  This decreases that weight you will probably need, and not to mention, who wants to keep moving stuff that is not being used over and over.  Free yourself.  It is very liberating unless you are my 4-year-old who feels we need to keep every “treasure.”

Tip #3 Have a Packing Game Planboxes

This is one that I find is to alleviate YOUR stress in the build-up phase to your move.  There is a lot of stuff that you are not using in your home.  Start packing all that stuff – bookshelves, kitchen dishes, extra linens, clothes, etc.  Create a plan where you pack x amount of boxes per day.  We did 5 boxes a day.  By the time it was moving day, we were not so tired from packing everything the two-three days before. Create a plan and stick to it.

Tip #4 – Pay for Packers and Unpackers

moversMy husband tells me every time we move (and we have moved more than three times due to changes in housing at the same unit), he’s “got this.”

That’s great for a 50-mile radius, but not when you are moving 500+ miles.  If you have all your stuff packed like the game plan in tip #3, those packers can properly pack your truck, your husband/wife can relax as can you (and if he/she is on deployment and you have children – this is really a necessity), and you do not have to watch the insanity. 

I did not do this – I WAS stressed watching that truck get packed. 

I think it is because my idea of an arrangement and his idea are not aligned.  I did, however, hire unpackers. 

This was the best money spent. 

They met us there, I pointed, they placed the boxes and furniture wherever it needed to go.  Much smoother on the end side.

Tip #5 – Plan out Your Trip Before the Move

Depending on how far you are moving (cross-country or one state away), be sure to plan out how far you will travel each day.  Do not try to travel too far as this is not a road trip in your family mini-van.  The rental trucks move slower especially if you are moving larger loads.  You will want to consider what hotels/motels are on your route if you do not have family or friends you can stay with. Don’t forget to look for pet-friendly hotels if you are traveling with fur babies.

Kelsey Ramirez

About the Author

Kelsey Ramirez is a Real Estate Broker in western Washington. She is also a veteran elementary school teacher, military wife, and mom to two daughters.  She is the founder of The Military Move, a military-based website to help families in the PCS process. Kelsey loves to travel, write, and create amazing content.  She has her Masters in Technology, which she uses to learn all new things digital.

With three decades of military support, Kelsey’s mission is to help new and existing military families in their unique adventures through all military topics including PCSing, budgeting, school choice and rights, housing, and especially just being a military spouse.

Continue Reading

3 Tips to Decrease that Pesky Tax Bill

Tips to Decrease Your Tax Bill

Many families dread the week of April 18th (I cannot as my husband’s birthday falls within this week) because of the looming deadline that comes up every year – tax bill time. 

Many families are excited at the prospect of receiving their W2s because it means refund time aka vacation money, house repairs, or maybe even stock in adult beverages to get them through the chaos until next month.  No judgment.  However, what I think many facalendarmilies do not know is that when you fill out your W-4 with your employer to withhold a higher amount of tax, you are in essence giving the government an interest-free loan.

Wait, what? 

Yes!

You are paying taxes into a system that they ultimately use and are then responsible for repaying you for the “overage” that you have paid.  You do not get to collect interest on the “loan” you are providing.  This is not one of the lovely tips – however, it is useful information to ponder.

Not all families fall into this category of bringing in the bucks at tax time.  Many families are shocked when they realize that they owe money – especially double income households.  Don’t get me started on small business owners (although there are tips for them too). 

I was asked the question, “Is it better to file married jointly?” Personally, I think if you use any tax software (Turbo Tax is a simple and easy solution), you should run your numbers both ways and determine that for your needs.  Although I will say if you do not file jointly, you miss out on deductions that you could receive. 

All situations are different because some people own land, multiple homes, or have a variety of income sources.  In this case, you may want to seek out a tax professional to ensure you are not paying even more.

However, there are a number of simple things you can do to lower the amount you may owe come tax time.

Contribute to an IRA or Retirement Account

income tax - monopoly imageSeriously, Kelsey, I am not going to see this money.  I hear you.  However, you have two options – pay the government or pay yourself.  Contributing to an IRA is taking that money for use in your retirement future. 

Your 60-year-old self thanks you.  The whole point of this practice is it will lower your taxable income and in return could lower your tax bracket.  Not ideal for most (especially those that were envisioning a Caribbean cruise), but you were not going to see this money to begin with. 

Now there is some preplanning here.  First off, you must decide if you are going to contribute to an IRA all year long, or if you have been hit with your mega tax bill and now are going to take money from savings (hopefully) to pay it.  In this case, if you can lower your tax bill by paying yourself and lowering your tax bracket – go for it. Regardless, your tax bill will have to be paid at some point – so this is ultimately the smartest option.

If you can lower your tax bill by paying yourself and lowering your tax bracket - go for it..

Update your W-4

This one won’t help for this tax season, but it could for next tax season.  If you find that you are having to pay taxes, you could have claimed too many dependents.  I am not a fan of withholding the highest amount of taxes because it is your money and you should get it; however, just because you have four children and a spouse does not necessarily mean you both claim them.  Be sure to check out the IRS calculator to see if it is time to update your W-4.  If you are married, you can continue to withhold at the higher single rate or choose married.  If you find you are paying taxes come April – you may want to consider the single withholding status (you cannot file single as a married individual).

Tax Tips

Itemize Your Deductions

Own a home – deduct the interest. Pay medical expenses not covered by Tri-Care or Champus- deduct it. Are you a teacher – deduct your school supplies.  Earning a college degree or post-graduate degree – deduct the tuition (only what you paid out of pocket).   Give stuff away to Goodwill or Salvation Army – get a receipt and deduct it.  If your deductions are higher than the standard deduction – this is a good thing for you.

How many people have lived in Florida (raise your digital hand) and chose to keep your residency because you do not pay state taxes?  Did you know you can take the Sales Tax Deduction (this is a biggie). If you do not take the standard deduction (meaning you itemize), you can deduct all the sales taxes you paid.  You choose either local or state taxes.  For those living in an area that has a high tax, perhaps due to tourism, this could assist you.  Check out this article from Bankrate to see how all that impulse (and necessity) buying can help you.

Kelsey Ramirez

About the Author

Kelsey Ramirez is a Real Estate Broker in western Washington. She is also a veteran elementary school teacher, military wife, and mom to two daughters.  She is the founder of The Military Move, a military-based website to help families in the PCS process. Kelsey loves to travel, write, and create amazing content.  She has her Masters in Technology, which she uses to learn all new things digital.

With three decades of military support, Kelsey’s mission is to help new and existing military families in their unique adventures through all military topics including PCSing, budgeting, school choice and rights, housing, and especially just being a military spouse.

Continue Reading