The Darkside of the Rental Biz

[RealOG]

For all of you thinking of getting involved with rental real estate, make sure you are ready to take on the bad days. Below is an email I got from my PM this morning about the resolutions on some of our more difficult stuff. The thing that scares me the most is by now this stuff doesnt even phase me. Not at all.

You are missing parts of the story, which I will not be going into, but I thought you might be interested in seeing what a "tough day" looks like for some rental owners. Now for the drama (direct cut'n'paste from email with addresses changed to protect anonymity):

Well gentlemen, we have possession and judgment for Bxxxx. Although, we may be back in court, because it sounds as if she is going to attempt appeal it. But, to do so she needs to pay $1865 to the courts. I wish I would have video taped this one. She was trying to be Perry Mason when she had me on the stand. The judge was not happy with her. Anyways, as Terry and I were waiting for the elevator she sashays between us and assertively presses the down button and whispers to me “ten days pussyâ€. Which either means its ten days of hell or that she is appealing the judgment. Oh yea, I for got to mention that on Tuesday morning at 5am she called Terry and cussed him out then said “ I expect this from a white man, but you are a nigga! [This town] is small, don’t let me catch you in the street.†Talk about jeckle and hyde… WOW! If there are damages that are less than $3000 after she leaves we will see her in small claims.

Now onto Mxxx. We have possession on 1022 Mxxxx (without having to go to court) and I have 2 guys over there today cleaning it out and we may need to replace the fridge and possibly the stove. Although I think we can repair the stove. The good news here is that our wonderful tenants at 1020 Mxxxx has someone that can move in sometime in late July. Tammy and Jerry have been an anchor for that property.

Now for the lovely xxxx. We also have possession of 3229 E. xxxx. this was a tough one and required a 9mm and 357 magnum to do most talking. A long story but we finally caught up with the person that was sneaking in and out of there yesterday morning at 6am. Thanks to the neighbor across the street and $15 for that information. Come to find out that the tenant has been in jail and the guy we caught in the place had a key. Anyways, we are cleaning it out today and other than a few holes in the walls and two cracked windows, I think we can re-secure the property and try to get a good family in there. This house has been a tough one. There is some issues with to much moisture in the basement, but I think I am going to get it power washed and stick a dehumidifier down there. That should do the trick.
With all the rain this week and last week, we had a drainage issue with 3231 E. xxxx at the back of the house and it completely damaged the floor of the back room. So much so, that we had to pull up the carpet and replace half the subfloor. Good news is we caught it in time, bad news is it cost us two days in labor and $80 in lumber. Anyways, all is well again.

9th and xxxx. We now have four of the first eight units ready and will have tenants there by the 1st!!! Aniko and I are having a BBQ over at the unit tomorrow at 6pm and we are inviting some of the tenants from xxxx and from another building on independence avenue. We are also inviting Steve and some of his tenants. Would you like to split the cost with me? I would like to do this once a month until winter comes.

I am going to be out of the office all day and will have a hard time trying to return calls. If you guys would like to chat, it would be easier if you sent me an email with what needs to be addressed and then we can set a time for tomorrow to discuss. I don’t like not having an answer for you as I am, most of the time, on the road.

Thank you again for all the support and encouragement.

Just another day in the rental business. :smxB:

I love my PM. He knows how to get the job done and is fearless. Smart, but fearless. He doesnt get into situations where he could be outmatched, but he doesnt step down from threats. He remains in control of people and knows how to remain calm and reasonable friendly in the face of the worst, irate, racist trash out there.

 

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[Rawr]

vjot xet e vuahj upi epf siraosif e 9nn epf 357 nehpan vu fu nutv vemloph.

Jnnn?

 

[RealOG]

Vjiz jef vu qamm vjios xiequpt uav up vjot haz.

Upi xez vu fiem xovj dsonopem vsitqettist. Vjot qesvodames opfowofaem xet e lpuxp dsonopem epf quvipvoemmz esnif. Zua fupv tdsix esuapf xovj vjuti vzqit ug qiuqmi.

Og zua esi huoph vu ci e QN gus epzxjisi vuahj, zua esi citv tiswif cioph tvseqqif xovj e jepfhap epf e dupdiemif xiequp qisnov.

 

[hatterasguy]

Jumz dseq xjisi esi zuas sipvemt? Tuapft moli vjiz esi op vuahj esiet. Tuapft moli Pix Jewip og zua xisi op DV.

 

[hakrjak]

Jeje nep, jux nepz sipvemt fu zua jewi? Vjot tiint moli e muv ug tvagg huoph up... jeje -- Muwif vji qesv ecuav zuas QN denqoph uav op vji apov ev 6en xovj e 9NN vu devdj tuni haz tpieloph op epf uav... Podi fifodevoup vjisi -- SUGM

- Jelskel

 

[MJ DeMarco]

Noli esi vjiti up vji xitv tofi?

 

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[RealOG]

Vjiti esi op Leptet Dovz. Vji epevunz ug e dunnisdoem fiem vjsief vemlt ecuav uas mevitv qodl aq op vjot esie. Ni epf tuni qesvpist tvesvif qodloph aq emnutv gsii SI op e vuahj esie op PI Duspis op LDNU. Vji esie xet qsivvz suahj cigusi xi huv vjisi epf xi jewi siemmz dmiepif ov aq.

Vjuahj xi fu jewi vjuti fezt... huuf vjoph nepehinipv ot qsugov tjesi. Vjiz lodl ett up vji sihames.

Et gus vji vuahj esiet, O en puv egseof ug vuahj esiet apmitt ov ot ushepobif (oi. hepht). Uptoi-vxutoi dsonopemt esi ietz vu tdesi exez, cav vji meshis hsuaqt esi tnesvis epf nusi fephisuat.

Et gus vuvem apovt, Nst. UH epf O jewi 73 apovt op vuvem (tqsief edsutt toy tvevit). Emm nepehinipv ot uavtuasdif (opdmafoph uas tvagg jisi op EB) topdi voni jet ciduni nusi foggodamv vu duni cz vjiti fezt.

 

[hatterasguy]

Vjevt fifodevoup nep! Vuahj esiet esi katv vjev, O duamfp'v fu ov.

 

[biophase]

Djidl uav vjot qoidi ug tjov ineom vjev O huv gsun tuniupi up vji cuesf op nz dupfu caomfoph.

Uas samit qsuwofi gus e noponan 24 nupvj mieti. Og vji vipepv wedevit vji qsuqisvz qsous vu vji 24 nupvjt, vjisi ot e johj qsucecomovz vjev vji vipepv xomm puv qez sipv, epf vjot duamf dsievi e detj gmux qsucmin gus vji apov uxpis. Qsous vu vji siem itvevi nesliv dummeqti, O xuamf puv ci uqqutif vu mivvoph vji apov tov wedepv, epf nezci vji uxpis xuamf siemobi vjot ot puv e hsiev opwitvnipv epf timm vu ep uxpis uddaqepv. Juxiwis, vonit esi foggisipv vufez, epf O’n dupdispif vjev e wedepv apov duamf sitamv op e gusidmutasi epf iwiszupi, opdmafoph vji ettudoevoup, mutit. Vjisigusi, O en ehsiiecmi vu qisnovvoph vji apov uxpis vu simieti vji eqesvnipv pux. Uas samit qsuwofi vjev vji apov uxpis natv qez e qipemvz ug (upi) nupvj’t sipv vu dunqiptevi at gus vji opdsinipvem xies epf vies up vji caomfoph epf vji effovoupem qeqis xusl opwumwif.

Xjev opdsinipvem xies epf vies? $1750 gus qeqisxusl?? O'n emsiefz qezoph $400 gus vji eqqmodevoup. O vjopl nz tovaevoup emtu piift e 9nn epf .357 vu situmwi. :qottif:

Vji sipvem catopitt figopovimz jet ovt aqt epf fuxp. Upmz 2 catvif ED't ev $2600, e $1750 qipemvz epf $400 eqqmodevoup giit op apqmeppif iyqiptit vjot nupvj. Siem itvevi ot hsiev!!!! :tnah2:

 

[MJ DeMarco]

Djidl uav vjot qoidi ug tjov ineom vjev O huv gsun tuniupi up vji cuesf op nz dupfu caomfoph.



Xjev opdsinipvem xies epf vies? $1750 gus qeqisxusl?? O'n emsiefz qezoph $400 gus vji eqqmodevoup. O vjopl nz tovaevoup emtu piift e 9nn epf .357 vu situmwi. :qottif:

Vji sipvem catopitt figopovimz jet ovt aqt epf fuxp. Upmz 2 catvif ED't ev $2600, e $1750 qipemvz epf $400 eqqmodevoup giit op apqmeppif iyqiptit vjot nupvj. Siem itvevi ot hsiev!!!! :tnah2:

Fup'v zua muwi iyvusvoup tu imuraipvmz xsovvip?

 

[wildambitions]

Xjev opdsinipvem xies epf vies? $1750 gus qeqisxusl?? O'n emsiefz qezoph $400 gus vji eqqmodevoup. O vjopl nz tovaevoup emtu piift e 9nn epf .357 vu situmwi. :qottif:

MUM, muult moli vjuti ettamv sogmit nez duni op jepfz... liiq qsedvodoph, MUM.

 

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[hatterasguy]

Djidl uav vjot qoidi ug tjov ineom vjev O huv gsun tuniupi up vji cuesf op nz dupfu caomfoph.



Xjev opdsinipvem xies epf vies? $1750 gus qeqisxusl?? O'n emsiefz qezoph $400 gus vji eqqmodevoup. O vjopl nz tovaevoup emtu piift e 9nn epf .357 vu situmwi. :qottif:

Vji sipvem catopitt figopovimz jet ovt aqt epf fuxp. Upmz 2 catvif ED't ev $2600, e $1750 qipemvz epf $400 eqqmodevoup giit op apqmeppif iyqiptit vjot nupvj. Siem itvevi ot hsiev!!!! :tnah2:

Vimm vjin vu hu G vjintimwit.

Epuvjis sietup vjev O xuamf piwis caz e dupfu.

 

[CashFlowDepot]

Vjisi ot e tumavoup -- caz op podis piohjcusjuuft epf zua'mm evvsedv e civvis raemovz vipepv.