Reminder to be careful when you self manage

[Douglas Skipworth]

Check out this crazy story into today's Commercial Appeal (the Memphis hometown newspaper).

http://www.commercialappeal.com/news/local-news/crime/woman-accused-of-stealing-100000-from-boss_71932794

If you do not use professional management for your rental properties, please be sure to build in checks and balances to prevent ending up in a news story like this one.  Separation of duties is the best way to reduce the chance of fraud (i.e., do not let the same person handle all of the money coming in AND all of the money going out).

On the other hand, if you use professional management, please make sure they are reputable (e.g., licensed agents, members of NAR, members of NARPM, active on BiggerPockets, etc.).

Whether you self manage or have your properties professionally managed, this unfortunate event is a great reminder to surround yourself with the best team possible.  

The good news is that BiggerPockets is the best place we've found to get recommendations on building your team!