All you new investors that think there will be no maintenance on a brand new house, had better think again.
The departing tenant allowed her kids to spray grafitti, kick holes on the walls of the garage (inside and out) tear down the ceiling, pull out the insulation.
She is furious that she got billed for repairs because she claims that is “normal wear and tear” when you’ve got kids.
The kids pulled roofing off the roof, knocked holes in the decking, and painted grafitti up there, too.
Water was pouring in, so the whole interior was soaked.
It took an entire 6 weeks to finaly get a couple of days where the weather was marginaly good enough to replace roofing. Even so, we had the tubes of roof tar heating up over a halogen work light. Otherwise, the tar was so cold it wouldn’t come out of the caulk gun.
The second day, we could see the next storm rolling in over the mountains. Watching the storm front move closer is a big motivator to work faster. We got the last electric cord rolled up and back into the trailer literally 3 seconds before the skies opened up and rain started pouring down.
Thank goodness for Bostitch and their roofing gun. We could not have gotten finished without it.
Tatertot, try a nice metal building with a landscaper, motorcycle or car repair shop renting it.
They pay on time because if they don’t, I park a dumpster in front of their doors to do “maintainance” on the building. This REALLY screws up their cash flow (funny, their NEVER late again for some reason) Other benefits?? No kids, no pets, concrete floors, flourescent lights, no ceilings, no carpet. no one LIVING there!!!
AND… a 3% yearly rent increase built into their triple net lease.
But hey, sounds like your living a FAR more exciting life than I am!
It’s honest REAL WORLD info like this that separates this site from all others. This is what it’s like sometimes folks. Even though he paid his dues on this one. HE STILL OWNS THE HOME!!! That’s BIG, because THAT is his future.
I’ve been watching it for 20 years. Got my eye on a bowling alley right now for $4,995,000. (they’ve dropped the price by a million and a half recently). The only trouble is, I don’t know anything about bowling alleys, but I’d bet they don’t generate enough income to pay a mortgage of 5 million.
Those nice metal industrial buildings with the roll up doors start at $250,000 for an industrial condo of 1400 square feet and they rent for 60 cents a square foot.
I’d like to build some, but even small industrial lots are over a million dollars.
Well, there is one listed that is a long narrow triangle that the wide end is 60 feet and the pointed end touches the road, but it isn’t wide enough for a driveway. That one is $300,000 and it is landlocked.
Let’s not even mention how long the vacancies can run.
The tenant who just did so much damage was carefully screened and trouble free for 3 years. The trouble was that she had a nice little 11 year old boy when she moved in, and 3 years later, he hooked up with some sociopath friends and turned into a monster.
Really, it is a shame we can reject kids, but we can’t, so that’s that.
Of course, it wasn’t the kids who painted my kitchen purple.
one of my all-time favoriates is the tenant who requested reduction rent becuase his tires on his car got dirty as a result of some grading being done in the yard and some soil washed on to the driveway before sod was put down.
Yep dirty tires are a real crisis. To bad the same doesn’t go for the dirty house! Tenants are always a laugh a minute. We finally got the last tenant that we inherited out of one of our places this month. The place was so filthy that we took a power washer to the inside. I have to admit we let her stay as long as she paid the rent because we didn’t really want to have to face the turn. Scary!