All Forum Posts by: Bill Graham

I get these often enough... I'm calling for my nephew.
Why don't you have your nephew call me directly. I will need to meet him personally.
Well he can't. He's in jail. You could go see him there.
Why is he in jail? I'm sure it wasn't his fault.
He beat up his girlfriend.
If he is in jail, it doesn't sound like he'll need an apartment.

Troy,
I don't ever stand for the yelling, and threats. I would give them one chance to change their tone then I hang up. Turn off the ringer. They will get the point eventually.
You don't owe these folks anything. They are just trying to bully you into giving up your money.
I would probably just put the money in my account and move on.

Just wanted to thank all who replied here. Ya, I suppose I was looking for the magic bullet. I too have read many posts surrounding this subject. Still many great ideas here.
I am looking at it this way, this just might be the kick in the pants I need to give up the W2 and go work for myself. (which I love...)
I suspect my new income will come from a number of areas. My current Real Estate investments, some Property Management, maybe a flip or some wholesaling, and I may even try RE sales. I know one thing, when the hammer falls I will be prepared. Well, at least more prepared than those that are burring their head in the sand and hoping for the best.
Rent On...

Oh... one more thing. I did briefly think about staying in this filed, but then the lack of jobs, long distance travel and the thought of sitting in this chair for another 10 years just isn't that appealing.
Thanks

Okay, I am hoping one or two of you may have found yourselves in my position at one time in the past and may be able to offer some direction/ advise.

A little background... In real life I am a Printed Circuit Designer (engineering). Early 50's, been at the same company 19yrs. I run this department with a comfortable w2 income.

I am also an investor, on the side. I currently own/ operate 23 units, over 7 buildings. I enjoy a modest passive income which I have been pouring back into the business. I had planned to be in Real Estate full time within the next 10 years. In that time I had planned to fix up what I have, along with a few new acquisitions, a few would be paid off by then. Good times...

However, the downsizing has begun. The ship is taking on water, if you know what I mean. I'm not afraid of loosing my job as much as seeing chains on the door knobs. I've seen these things happen in the past. Unless we really make some great sales in the next 1 or 2 quarters, our parent co. may just lock it up. Needless to say, I won't loose my house (like some) but I don't want to loose the momentum I had going with my business.

I have already signed up for RE Agent classes, but after reading some of the posts on BP regarding Agent burnout and low pay, I'm thinking there has to be a better way.
In the past I have taken courses in Prop. Management, Appraisal etc, etc...

Has anybody crossed this bridge before? Any suggestions?

Well, the good news is he moved out. If they do not supply forwarding address I just send security disposition notice to his last known address. (your apt.) When it comes back to you undeliverable, don't open it. Just stick it in his file in case trouble later on.
I have had a few tenants like this in the past. You just can't make everyone happy. I call them infections... They bad mouth the landlord, soon the rest of the building is feeling uneasy. I usually try to get them out asap. I offer them the "happy clause". Your not happy and I'm not happy so why don't I consider this your 30 day notice. Usually they begin to play nice or move. If they don't move or play nice I raise the rent.
Rent On...

I use http://www.landlordmax.com/ for 23 units. Weekly, bi-weekly, monthly. Cheap and easy to use. And my accountant loves it.

Ann, Where did you find 5 applicants with 700+ credit scores?
According to your guidelines it looks like she just didn't qualify.

Jhansi, Glad to hear you are finally getting her out.
My business model is like this... The tenant threatens me once, or withholds the rent (for any reason), I focus on nothing other than getting them out ASAP.
When the other tenants hear what happened to her they will either play nice or move out on their own. They will be less likely to take a shot at you.
Rent On

I use Craigslist as a starting point. Sometimes I get great response, sometimes it takes more marketing. (ie. newspapers, flyers, etc.). It's also useful for "test ad's". Just to see what's moving and for how much.
It gets easier to spot the fakes and flakes as you go along.
They all have I-pads now, and free wi-fi.
Rent on...