All Forum Posts by: Isaac S.

Yes, I feel burnt out all the time, but especially if it's a multiple renovation period of time....it's much less stressful when you only have a few normal(paint and clean, min handywork) turnovers in a year, or are at 100% occupied for a long period. I try and do mandatory minimum vacations to diffuse and reset, during those 100% times, for 2-5 day periods, and usually close enough to get back if it's absolute emergency.

I can't even wrap my head around taking a year off, unless I had a management company I trusted.

Good luck!

Also, the realtor could be full of ish and the tenant is the fall guy for the realtors last minute showings and lack of service minded attitude towards the tenant. IF, it's true it could be an indication of bad tenant attitude, or just as much chance it's something you don't even know about in the tenants life or experience, that has nothing to do with you or the realtor. 

As everyone else said.....NO F'ing WAY!!!

If Mr. Tenant was halfway decent at any of the skills required to turn a unit fast, he would flooded with offers for work, he would have a job and be paying rent, and if he was also self motivated he would probably have a company doing all that stuff already.

It's good to be a flexible win/win deal maker kind of attitude, in general but not in this particular situation.

If you decide against this advice I will be keeping an eye out for the post of how it all went wrong and you lost another 3 months of rent and expensive damage, lawsuits, workers comp case...etc, etc.

Best of luck!

I have had several tubs refinished and they all eventually fail via small chips....the better jobs can last a few years depending on how hard the tenant is on them and quality of preparation and materials used.

Best of luck!

I would buy lots in the metaverse because apparently that's the future.

@Matthew Netwon IMHO, it's most important that they don't have any evictions, vehicle repossession, bankruptcy....that they do have verifiable income that they have been working for that company and/or in that field for several years or more.

as @Marshall Leipprandt said, you should do rent comparables to determine a good starting point and then if you do/don't get enough calls, adjust accordingly. 

Sorry for your expensive lesson. Best of luck.

The title is "Sweet" old lady....

Based on that condition, you are truly delusional if you think she was using high level machievellian manipulation('she knew better) to keep her rent below market...

This situation happens ALL THE TIME...many rentals are owned by mom and pops that own them outright and are a source of retirement income, those tenants paid the mortgage and property tax for that place AND the retirement income, and showing no respect for that contribution is pretty cold.

ALSO, you assume that she is as intelligent as you are...what if she is just barely average intelligence? What if her entire family perished in a tragic car accident? What if she is has absolutely no one to help her, and she is unable to help herself?

I agree with everybody that says FREE MARKET-blah, blah, blah...YES, the property was mismanaged by the above mom and pop, now that they are selling it or probate is liquidating or the beneficiaries of the trust are selling it, etc, etc...it is ugly way forward to be so cold and "....it's nothing personal, it's just business" about dealing with the reality of this little old lady.

YOU are also getting it at a discount for that previous management neglect and then FORCING THE APPRECIATION. Much money will be made by FORCING THE APPRECIATION. Tens of thousands if not hundreds of thousands will be made over the life of the investment, I did not coin the phrase, and it's a common practice that i find quite distasteful when it comes to the elderly or vulnerable among us.

Too all of you who think your brand of tough lough and it's not my problem, it's legal, it's the free market or whatever beliefs you live by to justify your posture...the world is already a cold hard place, you are not making it any less so, despite having the opportunity and ability to do so.

@JD Martin

I certainly  understand the perspective of the "...it's not my responsibility to subsidize  granny's  housing". The same one's that say "...its nothing personal, it's just business"

I frequently feel those sentiments towards many people in our society, but, not little old ladies!!

Believe me, it's completely personal to her!

Wrong is wrong....and if you are willing to put a little old lady out on the streets, with no relocation assistance.... you're morally bankrupt

You should work for a bank, drug cartel, mafia because that is exactly how they operate, it's not personal, it's just business.

You are going to make tens of thousands of dollars....why not look for the win/win and make a little less, either doing enough cash for keys to help her relocate and land on her feet OR carry her tenancy for reasonable increases that she can afford, until her inevitable and probably sooner than later end.

People DO NOT make your primary business model finding under-performing assets that you evict little old ladies out of!!! 

WTF is wrong with people?