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Posted about 9 years ago

What do You Say to the Man Who Knows Everything?

Last night I placed an ad on craigslist to sell a refrigerator. A man came by to look at it this morning. As he walked around it searching for imperfections, we began talking about real estate (what else, right?). He soon divulged that he had purchased his first two 4plexes this last year. I told him that was great, and that I think real estate is a wise investment choice. I asked him if he had heard about a community sponsored, beginning landlording class that will be held in two weeks. I help teach the class and thought he might find the information useful. He said he had, but that he was not interested.

My ego is not so large that his disinterest in the upcoming class would offend me, what bothered me was his reason. His exact words were, 

"I don't really need a class like that because I already know pretty much all I need to know to about rentals.......In fact, I just got done with my first eviction." 

I didn't know what to say, but I will tell you what I was thinking, "I really need to remember this guy. If he keeps this up, he'll be selling in the next couple of years."

First Issue:
What does it mean to "already know pretty much all I need to know to about rentals"? Does it mean he knows everything about real estate, landlord/tenant rules, tax law, and all things landlording? Can you ever know everything you need to know about landlording? I have found that every time I think I have things figured out, something new comes to light and I become a novice all over again.

Second Issue:
Anyone who thinks evictions make you an experienced Landlord, really can't be very experienced can they? Most of the experienced Landlords I know have very few evictions because they have learned how to avoid them. They have more cost effective ways to get trouble tenants to leave. The eviction process can be costly, time consuming, and unpredictable.

So what do you say to the man who knows everything?

Thanks for the $150. I hope you enjoy the fridge. :)

This is my first blog post ever, anywhere. Please a leave comment and let me know what you think.


Comments (3)

  1. Hey Tyson, I live in Kenai. Am currently working on my first two deals. If this class is still a thing I would be interested in learning more about it. 


  2. @Roy N.
    Thanks for the comment. I couldn't agree more. I hope he gets things figured out, but I will not be surprised if I see the properties listed for sale in the next year or two.


  3. @Tyson Cox 

    Touch base with him in another year and he may have realised that there are things he has yet to learn;

    Speak with him in another two years and he may admit there us much he does not know;

    On your third anniversary call, he despondently will tell you he knows very little;

    In year four, call and make him an offer on the two quadraplexes.