Let the Rents Rain Down!

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Wow! Today was the mother of all rent days. Usually, I get a lot of rents on the 1st; several rents on the 2nd; a few rents on the 3rd; and then a bunch of rents on the 4th (and then a couple of late payers with their $50 late fees over the next 3 days). Not this month. Today, the 3rd, ended up being the mother of all rent collection days. Most of my tenants pay in cash and my wallet was so full of cash that I was a little concerned about carrying it all around. Usually, when I get that much cash, I make a quick trip home to drop off the money. However, I just didn't get a break and so I had to carry the money.

In addition to collecting rents, I started cleaning out the 3 bedroom house that I got back yesterday. It's a mess and I'll have several rooms of carpet to replace. I did get new miniblinds hung up so that people couldn't see in through the windows. I also got all the loose trash picked up throughout the house and took a few of the larger items out of the house.

Finally, I received a call from the parole officer of the man that I kicked out of one of my apartments (see my previous blog post). The parole officer wanted to hear what I knew about this felon. I told him that he had shacked up with another convicted felon in one of my apartments under the guise of helping my disabled tenant, and that they stole my tenant's prescription medicine and some other items. He was going to check the police reports and then hopefully violate their parole and send them back to prison where they belong.

Tomorrow, I'm going to try to get an earlier start and make some serious progress on removing the damaged carpet and getting a new floor installed (whatever I decide to put down).

Michael Rossi is the author of 1 Minute to Rental Property Riches, which is the only book that tells the truth, the whole truth, and nothing but the truth about the rental property business. You won't find any guru motivational nonsense; unrealistic hype; or promises of instant riches without work in this book. What you will find is the critical information that you need to start, build, and operate a successful rental property business. And if you're wondering about the title of the book, 1 Minute to Rental Property Riches, it's a sarcasm of the silly guru infomercials that promise untold riches without work - which we all know is RIDICULOUS!

If you'd like to read more about the book, check it out at www.1MinuteToRentalPropertyRiches.com. When you're ready to buy, you'll get the best price and fastest delivery from the bookstore right here on BiggerPockets!

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Comments

Joshua Dorkin
6 months ago

Mike - You need BiggerPockets for all that cash, baby!
Aaron Williams
3 months ago

must be nice to get all that rent on time....
Alf Gizzo
2 months ago

Mike,

Would you ever consider working closely with your states department of corrections and actually rent to former offenders on parole?

We do it here in Colorado, very successfully. Very easy evictions, no leases, just a call to the parole officer for removal and we charge rents by the room, maximizing rental income.

Alf..
Norm Chrostowski
2 months ago

I am curious to Mike's answer...
Nick J.
2 months ago

I'm not, we already know what he's going to say LOL!!