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22 Unforgettable Experiences From My First Rental Property

by Seth Williams on January 11, 2014 · 38 comments

  
First Rental Property

1. The thrill of excitement when I finally found a deal worth pursuing.

Source: plus.google.com

2. Doing my initial walk-through and realizing the property needed a lot of “updating”.

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Source: ebaumsworld.com

3. The only thought that went through my mind when the seller kept bragging about what a “cash cow” the property was.

Source: ReactionGIFs.us

4. When I sent the seller a low-ball offer, and they accepted it.

Source: plus.google.com

5. When I finally got my loan approval from the bank.

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Source: ebaumsworld.com

6. When I was signing closing documents at the title company, and the seller walked in the room.

when i'm at the closing table getting an awesome deal and the sellers walk into the room
Source: ebaumsworld.com

7. Walking out of the title company with my agent.

8. Meeting my tenants for the first time and seeing their response when I asked, “Can I expect to receive your rent on the 1st of each month?”

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Source: ebaumsworld.com

9. One month after closing, and the furnace needed to be replaced.

Source: imgur.com

10. My feeling of elation when the first rent check came in.

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Source: i.imgur.com

11. Showing the first rent check to my wife.

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Source: imgur.com

12. Realizing our tenants didn’t really care about our “No Pets, No Smoking” policy.

funny-face-dog
Source: ebaumsworld.com

13. My response whenever a tenant started explaining why they missed their payment.

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Source: i.imgur.com

14. When my property manager asked if I’d like to set up direct deposit into my checking account.

Source: i.imgur.com

15. Visiting my property after a tenant got evicted and realizing I need to be prepared for ANYTHING.

Source: ReactionGifs.com

16. Seeing a good tenant move away.

how i feel whenever a good tenant moves away
Source: ebaumsworld.com

17. Seeing a bad tenant move away.

Source: REtipster.com

18. The first month I didn’t bring in enough revenue to cover my expenses.

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Source: i.imgur.com

19. How it feels to have a vacant rental property with an ongoing mortgage payment.

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Source: ebaumsworld.com

20. Getting my first annual property tax bill and realizing I had slightly underestimated this particular cost.

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Source: ebaumsworld.com

21. Listening to my CPA explain the amendments to the IRS tax code pertaining to rental real estate held by an LLC.

Source: plus.google.com

22. When I finally saved up enough cash to buy my next rental property, and my Realtor sent me 5 new listings to look at.

ready to buy
Source: plus.google.com
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{ 38 comments… read them below or add one }

Tom Phelan January 11, 2014 at 8:12 am

Well done.

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Mike S January 11, 2014 at 9:24 am

that last one killed me lol!!!

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Seth Williams January 11, 2014 at 10:12 am

Hahaha – that’s one of my favorites too. :)

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Mike S January 11, 2014 at 10:24 am

lol is that Birdman!?

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Bobby January 11, 2014 at 9:30 am

I definitely agree with 8, 10, and 13….

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Seth Williams January 11, 2014 at 1:52 pm

Lol – awesome Bobby. Glad I wasn’t the only one!

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Brandon Turner January 11, 2014 at 9:48 am

Hahahaha this is my favorite Gif compilation you’ve done yet :)

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Seth Williams January 11, 2014 at 10:05 am

Score!

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lamac66 January 11, 2014 at 10:01 am

PRICELESS!!

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Dawn Anastasi January 11, 2014 at 10:06 am

Your GIF compilations are hilarious! Keep them coming!

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Seth Williams January 11, 2014 at 10:11 am

Thanks Dawn – I’ll do my best!

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Greg Jackson January 11, 2014 at 10:55 am

Very funny!

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Dee January 11, 2014 at 11:17 am

This is great! Haha

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Adam January 11, 2014 at 11:21 am

If a picture is worth a thousand words, a great movie clip is worth a million! Well done! And, it kept my attention throughout!

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Seth Williams January 11, 2014 at 1:51 pm

Thanks Adam – glad I could keep you entertained!

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Armaity January 11, 2014 at 12:01 pm

HILARIOUS!

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Steve Johnson January 11, 2014 at 3:10 pm

You have to be a fan of Imgur.com, right?

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Seth Williams January 12, 2014 at 7:43 pm

I certainly am Steve – great resource for gifs!

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Jordan Thibodeau January 11, 2014 at 4:08 pm

The Gif from number 17 is worth its weight in gold.

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Seth Williams January 12, 2014 at 7:44 pm

Haha, thanks Jordan. A favorite of mine as well. :)

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Lisa Phillips January 11, 2014 at 10:37 pm

This made me laugh SO HARD!!! Especially 16, when your favorite tenant moves awayIts soooo true, all of them, good freaking job! Definitely retweeting this one!

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Seth Williams January 12, 2014 at 7:46 pm

You made my day Lisa, thanks!

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Sophia January 12, 2014 at 11:00 am

This was great! Too funny!

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Niko January 12, 2014 at 11:51 am

Haha, that is awesome! Well done!

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Scotty Ball January 12, 2014 at 1:15 pm

Those were hilarious (and true)!!

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Lear Riojas January 13, 2014 at 5:42 am

You guys have made investing in real estate a heck of a lotta fun since I started in 2008.

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Seth Williams January 13, 2014 at 8:17 am

Awesome – what a great compliment! Thanks Lear!

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Andy King January 13, 2014 at 7:46 am

I’ve watched this 3 times now and it keeps getting funnier! So true!

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Seth Williams January 13, 2014 at 8:17 am

Mission: Accomplished. Glad you like it Andy!

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Pontus January 13, 2014 at 12:22 pm

Awesome! So true, you nailed it Seth! :)

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Seth Williams January 14, 2014 at 8:22 am

Thanks Pontus!

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Aaron Yates January 14, 2014 at 8:29 am

Perfect way to explain the feelings of these events… This was hilarious to read… Thanks for the post!!

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Seth Williams January 15, 2014 at 9:46 am

I appreciate that Aaron, thanks for commenting. :)

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Jay O. January 14, 2014 at 2:12 pm

LOL!!!!
Can’t breathe cause I can’t stop laughing.
Love this! Awesome job Seth.
Jay

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Seth Williams January 15, 2014 at 9:45 am

Hahaha – thanks Jay!

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Zach Shepard January 14, 2014 at 9:12 pm

Awesome.

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Niles January 18, 2014 at 5:46 pm

Absolutely perfect.

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Seth Williams January 23, 2014 at 4:03 pm

Thanks Niles. :)

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