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Author Topic: Hard Nose Tactics When Dealing With Tenants ?  (Read 19659 times)

Offline aak5454

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #15 on: November 27, 2006, 02:38:51 am »
In dealing with tenants, here's a few thoughts:

If you are like me and do you work on some units, don't annouce you are the landlord when you knock on the door.  I have fixed many problems and driven away and the tenants never knew the guy laying on the kitchen floor owned the place.

If tenants do figure out you are the owner, so what.  They see me pull my tools out of truck and get to work to fix their (our) problem.  Sure, I've had tenants try to ambush me with all their problems, stories and complaints during which I switch into "talk to XYZ Real Estate, they manage the property, I'm just here to fix the toilet, sink, whatever"  Never, ever cut deal, discuss on-going rent payment issues, etc.  (I expect all those to be routed thru and handled by prop. mgmt).

One of favoriate statements to tenants (when they know I'm the owner) is the following:

Here's the responsibilities of you and me; You pay the rent on-time and tell me when there is a problem with the property and I'll provide a reasonable place to live.  If you don't meet those responsibilities, then there will be a serious problem.  I've been using this line for almost 7 years with many, many tenants and never gotten an arguement.

Also, I own a number of properties in an area with a reputation for being home to welfare types, meth cookers and skin-heads.  All I can say is screening is the key (keeps vacancy and expenses low).  Other (good) tenants get attract to this area as the rent is cheap.  Look for tenants with steady, verifable income.  People with real jobs tend to be having less blow out parties at 2am during the week that really PO the neighbors.

Mike in Calif.

Offline ericmedem

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #16 on: November 28, 2006, 07:20:06 pm »
Thank you for your input danny, im sure im wrong about cashflow, frankly I dont care I make far more than that but who's checking?  

I offer advice to people who want it, and they pay me afterword.  My income level exceeds 200k, I need to be paid for my time thats why I charge, I get an incredible amount of people requesting help, which takes away from work time.  I essentially charge for my time, that is what I make per hour.  

I dont claim to be an expert on anything, but I do know how to make money.  I would rather learn from someone doing anyday over someone who knows from not doing.  

To build the biggest building in town you can either build the biggest one, or you can try to tear all the other ones down.

I think I'll stick with building the biggest one,

and let my dungeons and dragons buddy, keep hiding tightly behind his laptop.  and no he still hasnt called or emailed.

Danny you seem like a solid guy, I would be interested in talking to you at somepoint.

I think there should be a post on the forum where people post what properties they actually have, then new investors will know who is doing, and who is reading.  I dont put dollar figures down to impress anybody, I put them down to impress upon people that if I can do it anyone can.  

If a guy who cant even figure out cashflow can figure out how to make close to a quarter million dollars in a year, then anybody can do it.  Thats all im sayin.

Keep tearin down those buildings,
Eric Medemar
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline Rich_in_CT

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #17 on: November 29, 2006, 02:05:16 pm »
You guys can go back and forth all day long about who's 1040 is bigger but I don't really see how it affects this topic.  Can we get back on topic and discuss some more tactics on dealing with non-paying tenants?

Offline DannyTheGreat

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #18 on: November 29, 2006, 02:14:56 pm »
C'mon, this wouldn't be the internet without a couple good food fights once in a while.
"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor

Offline Rich_in_CT

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #19 on: November 29, 2006, 02:16:37 pm »
C'mon, this wouldn't be the internet without a couple good food fights once in a while.
While fights are fun you have to wonder how much they help and how much readers learn from reading them.  I prefer fist fights myself, they actually seem to have an end result.  Internet fights are kind of lame, I have a graphic to illustrate the point but its not appropriate.

Offline DannyTheGreat

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #20 on: November 29, 2006, 02:32:10 pm »
Quote
While fights are fun you have to wonder how much they help and how much readers learn from reading them.
I can't speak for all food fights, but this one the readers could potentially learn a lot. Eric's claims of taxes and insurance being the only operating expense and appearing to be an expert on the matter could get a lot of newbies in trouble. Bad advice requires a strong opposition in an educational forum or a reader could lose their shirt (among other things).

Please send me the inappropriate graphic!
"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor

Offline Rich_in_CT

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #21 on: November 29, 2006, 02:33:45 pm »
I can't speak for all food fights, but this one the readers could potentially learn a lot. Eric's claims of taxes and insurance being the only operating expense and appearing to be an expert on the matter could get a lot of newbies in trouble. Bad advice requires a strong opposition in an educational forum or a reader could lose their shirt (among other things).

Please send me the inappropriate graphic!
The cashflow discussion is valid, Eric's constant bragging is annoying.  Graphic is on its way.

Offline ericmedem

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #22 on: November 29, 2006, 04:15:04 pm »
Frankly I would love to see more "bragging", If bragging involves showing people what can be accomplished through investing.  I wonder how much "bragging" would actually go on though. I have a small feeling that some of the "Experts" in the forum are actually only experts at knowing rather than actually doing.  Maybe some experts dont brag, because they have nothing to brag about, I think that bragging would be more like "hey I read this great book, or I took this great course"

I know there are people in here that do alot of business, and I wish they would brag.  Why?  Because then I could sort  people out who Do what they know rather than listening to someone who knows what to do..

A 4th grader could come on the forum and give book smart on investing.  I want to learn from the guys that are doing it.  It is hard to seek them out if they leave no evidence that they do anything.

If it upsets you that I talk about what I am doing in real estate, then maybe you need to get out and do something worth bragging about.

Last thought, you will never see me telling anyone they are wrong because of something a course taught me or a book that I read said was wrong.  Everything that I talk about I do, have done or have experienced.  

Eric Medemar

p.s. I promise once I stop making, so much money, Ill stop bragging, because then like many experts I will have nothing to brag about.  Until then I will keep talking numbers and accomplishments. Oh, and the naysayers are welcome to still chase me around the forums, looking for my erriors.
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline buynow

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #23 on: December 01, 2006, 10:09:28 pm »
Eric


SHUT UP ALREADY, YOU SOUND LIKE A NAGGING OLD WOMAN!

 People who really know something do not talk and boast as much as you do. The fact that you are doing that, tells me you are really just  a big bag of wind and you don't know much and  the others are telling the truth about you.  

I am on this forum to learn as much as I can about RE investing and you are wasting people's time posting all that crap. I believe the only one who believes you, is yourself.

ENOUGH  OF YOU ALREADY!!! AND DONT SEND ME NO NASTY EMAILS EITHER. :o
Seek and he shall find

Offline markoarko

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #24 on: December 02, 2006, 12:42:15 am »
You are not your tennants friend. Evict if they dont pay, or at least charge a late fee as you should be entitled to under your lease.


Offline ericmedem

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #25 on: December 02, 2006, 01:50:15 pm »
"AND DONT SEND ME NO NASTY EMAILS EITHER"

I think this says enough, So are you bad at english, or do you actually want emails, because thats a double negative.

I promise I wont "Brag" anymore, I will just talk about stuff that I have learned from "some mystery source"

Eric Medemar

p.s I think I just stumbled upon that graphic it makes perfect sense, Does it have anything to do with the olympics?
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline DannyTheGreat

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #26 on: December 02, 2006, 04:47:05 pm »
Quote
SHUT UP ALREADY, YOU SOUND LIKE A NAGGING OLD WOMAN!
This is the perfect quote to follow up on all of your posts.

Your hardly the person to be correcting grammatical errors. Unless I've made the mistake thinking "Sanfransisco" was 2 words my whole life...
"I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."- Isoroku Yamamoto, Japanese Admiral- After the attack on Pearl Harbor

Offline markoarko

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #27 on: December 02, 2006, 05:27:53 pm »
ok now, all children out of the pool

Offline kigray

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #28 on: December 04, 2006, 02:39:10 pm »
This discussion seems to have gotten off track.  When I first got into this about 5 years ago everyone told me we always needed to play hardball with people.   Our places rent for about 600 - 850 a month.  The first time someone was a few days late we thought about going down there.   But we were pretty busy.  We got the rent a few days later.   Over the next few years it was always pretty much the same.   Once someone was pretty late and we called them.  They forgot.  We got the rent in the next day or two.  We had one renter that paid late by 5 days every month for 2 years.   But they always paid month after month.  Looking back basically over the last several years.  It seems we have saved alot of time and our tenants have been more considerate of us and have taken better care of our property.   Tenants have told us that they stayed at our property because they liked dealing with us as landlords.  We have never failed to receive a months rent.   Now Im sure that some renters dont pay.  And if we ever ran into someone like that we would not have had a problem evicting them.  Now we didnt rent places for 350 a month and maybe those tenants are different I would not be suprised.  But with the tenants in the 600 - 850 a month range our approach has worked pretty well.

Offline Bluemoon06

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Re:Hard Nose Tactics When Dealing With Tenants ?
« Reply #29 on: December 06, 2006, 08:23:51 am »
This is the first week of December.  Christmas is coming and people want to pay late so that they can spend their money on Christmas presents.  I have all my people paid up and only 1 was late.  It feels good to be sitting here with all the accounts paid for the month.

This is the best time of the month...money in the accounts.
Real estate to Retire you
http://sphinxwealth.com/

 




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