Updated almost 8 years ago on . Most recent reply
Toughest month ever- every landlords nightmare
Every landlord always talks about how great their investments have been and that's usually the case but we all from time to time run into some real tough situations. Well here is mine -
Beginning of October I had 8 empties, 3 evictions, and two of my tenants left in the middle of October with my appliances, kitchen cabinets, and light fixtures. This has by far been the worst cash flow month for me in a very long time!
I wonder if anyone can share some of their nightmares and share some words of wisdom...
Most Popular Reply
People talk about X percentage that their rentals make, but I often wonder if they are really taking into account all the costs involved with maintenance and vacancies and turnovers. One turnover can costs $5,000+ if you combine the lost rent with the cost of getting the unit ready. That destroys the year of renting. Then if they don't stay multiple years, good luck. And if the units are fully leveraged, it can be a recipe for disaster.