This week as a long distance landlord

As I become more familiar with the BP network and resources it has become clear that we are fortunate to have some of the most thoughtful and helpful real estate investors on the web.  I love all the real life stories and daily posts from the various full time investors.

It is because of them that I wanted to take a few minutes and share with the readers a few details about what a long distance landlord went through in the last seven days.  This is for the investors who have full time jobs or invest in markets outside their home turf.  I invest 3 hours from my primary residence.

In the last 7 Days I have had all of the following happen across my properties:

Initiate a lockout on a tenant who did not meat their agreed payment plan established during the eviction process.

I had to replace a water heater and the carpet/pad in a house where the water heater went out when no one was home.  (First time this happened in 7 years – not fun)

Initiate a 3 day notice to perform as a tenant tried to sneak in a dog (not allowed in lease)

Had to fight with Section 8 as they tried to lower rent in a SFH during their yearly review (They are lowering rents across the board)

Found out I had a tenant pull a mid night move with no notice – oh well time to clean and re rent

Had 2 move in’s to vacant units

Purchase another rental home

As you can see I have had a fair amount of things happen in the last 7 days.  I speak with my 2 different property management teams daily to review issues and make plans.  Perhaps some day I will move to my investment market but at this point I am happy to live where I am and invest where the numbers are attractive. 

Good Investing