I have to admit that some of my tenant’s amaze me too. I just had a young couple move out of one of my duplexes. They were paying $520 with me and are now paying $770 for an extra 2 rooms and a backyard. They tell me how they would like to own a home but their credit is messed up.
I told them about a house I had bought last month without even a credit check being done on me and using seller financing. I told them twice that if they wanted me to, that I would be more than happy to at least give them some ideas on getting their own home. They said they would get back to me in a week or so but never did and never brought up the subject again. People never cease to amaze me.
The sad part is that when they moved out I raised the rent on my new tenants up another $70 a month.
I know I’m crazy but I love tentants.
They have high paying jobs but spend their money on crap!. I went by one of my apartment today and talked to a guy who spent $2700 on putting in a new engine in his old truck. He makes good money but spends it on crap! He’ll be a tenant for a long time. Never can srcape enough together to buy a place but will always srcape just enough toether to pay rent. That’s my type of guy. If any of you have not read “Rich Dad, Poor Dad” you should. They spend all their money on depreciating assets.
By the way, I almost got taken this month. I though I would work with a tenant that was a couple of months behind on rent. Bad idea. However, he wrote me a bum check for $800. After I let him know, he gave me cash for $300. He moved out in the middle of the night. I kept the the check and cashed it when the bank said he had his money. He didn’t count on that. Score!! I’m sure he’s bouncing checks all over town. I really appreciate the input people have about how not to be a landlord, however, as a clinical social worker I enjoy working with these idiots in a weird sort of way. I’m building my way to a fortune slowly and have make more money than my regular job. Keep up the good work folks. I’m learning a lot.