New places means new problems. I’ve faced an epic battle of Laptop versus Router versus Cable Modem to get the Internets. I finally prevailed against the gladiators. They gave me a good fight, but it the end crowd wanted them saved! Enough of that, my last post was on Nov 14th, and it was to get me back to the daily to-do lists. See the reference to the internet battle? That kept me from doing so. But let’s get back on target.
- Nov 15th – No Real Estate News to Relate
- Nov 16th – Tenant in Zavala Texted me to complain about the fact that she still did not have a washer/dryer and was going to start withholding the up-charge for W/D because of it. I agree, it’s ridiculous that I can’t even get my Property Manager to move a freaking W/D for 3 months!
- Nov 17th – Received an email from the Property Manager’s Broker. Asking us why, if we have access to the online system we insist on calling and emailing to find out where rents are? Well this is a straw on the already broken camels back. On the 14th we sent an email that said:
> Hey I see that no rents have been paid on Arlene and on Zavala, I assume
> that 5 days notices have been posted! Where are we in the eviction process
> on these?
And the reply that just set me off:
I do see that you have already been set up with an online account and had
logged on yesterday morning. You should be able to see that rent has not
been collected yet on all of these units you are inquiring about from your
— Which is why we said, I See NO RENTS HAVE BEEN PAID! WHERE ARE WE IN THE EVICTION PROCESS! 10 days late. We just want an update!
I hope you can understand that we are working extremely hard
on our end to try to get these tenants to pay rent while dealing with the
process on a near monthly basis of starting and restarting to evict them
until finally they show up with their rent.
— Why are we stopping it? Get them out!
We have not been collecting our normal late fees from these tenants that help us pay for all of the costs associated with such troublesome tenants in an effort to help them keep up with their rent payments.
— That’s on you! We agreed that you should be charging a late fee and don’t hold it against you for trying to recoup the cost! Not collecting the late fees is what is making it OKAY for these tenants to continue to pay late and increase the workload on both sides of the equation.
At the same time, we are spending extra time
trying to explain to you all of the complications that we seem to have on a
monthly basis with these tenants. I hope you can appreciate the amount of
work that goes into managing this property, which I see that we are doing at
a discounted rate. Anything you can do on your end to educate yourself on
the timeliness of payments from your tenants would be greatly appreciated.
— Yes an email once a month on the sixth:
Hopkins 1 & 3 – Paid, Hopkins 2 – late 5-day posted. Zavala 2,4 – Paid, 3 Late 5-day posted. Arlene – No Rents 5 day posting tomorrow.
Is an incredible amount of work to have to go through every month to keep me updated. And you gave me the contract for the “Discounted” rate. I didn’t try to negotiate it. So don’t tell me that I’m getting a deal, because the level of service SUCKS!
I will ask PROPERTY MANAGER to address the rest of the issues from your email with you
on Monday. Please enjoy the rest of your weekend.
— It’s Tuesday morning and not a peep from the PM.
- Nov 18th: Went to the San Francisco Biggerpockets meetup and met some interesting characters, might have a deal coming out of it or not. But man is it a long drive up there. Yikes!
Phew. That’s not a lot of stuff going on, but it’s aggravating work.
So this week is the get plan laying week. Get plans laid, and get to work flipping some properties.
Nov 19th TO-DO:
- Email TAI from the Meeting last Tuesday
- Email Soquel from the Meeting last Tuesday
- Email Mr. Henderson the Property Manager in Las Vegas who was looking for apartment deals for his clients.
- Continue reading “Business Plans for Dummies”
- Investigate Merced, Ca
- Investigate Sacramento, Ca
- Investigate Santa Cruz, Ca
- Investigate Capitola, Ca
- Define Number Spread a little more appropriately.
So today is the anniversary of the Gettysburg Address. And it seems like a good time to reflect on what that speech can mean to our personal lives. Every deal that we do as real estate investors needs to be on the win/win/win scenario. No one should feel cheated. We as real estate investors stand to give people in Dire Financial Straits a chance to get out under debt and to start again. We provide housing to people who need a place to live (though we screen them, and should be teaching them to better citizens), we provide safe housing from families just starting.
Many generations of warriors gave their lives so that we can live in the world that we do now. Whether or not we agree on the reasons they gave their lives, they did. We need to honor those people and honor the belief in the fact that we are a great nation that helps each other out. We are not vultures in the wings waiting to pick the bones. And if we come across that way in our dealings we are doing something wrong.