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May 26, 2012, 02:44:39 AM

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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: The Reality of Property Management...Part 2 « previous next »
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GreaterKCHomes
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« Reply #15 on: January 03, 2012, 11:19:16 AM »

the fact that I have not had many evictions could also mean, I don't place bad tenants. My clients are not paying me to place bad tenants. By my calculations, over 100 evictions would cost about 40K in kansas city, I would be out of business with that kind of resume.

You show concern over me giving a simple application fee away, yet your willing to allow tenants to "borrow" the money they need to pay for it, what else do they  borrow money for? How often is that tactic successful?

I currently manage over 100 properties and have kept this number for the better part of a year, so the fact that I don't manage many properties would not be a very accurate portrayal.


You manage over 100 properties, over 95% of your tenants live from paycheck-to-paycheck and can't afford a credit check, and you haven't had a single eviction in almost 2 years?

Sorry, I just don't buy it.  And I bet you over 95% of the landlords on this forum will agree with me.

btw - when I say 100 evictions, I don't mean 100 different tenants.  I've taken the same tenant to court over half a dozen times before: one eviction was for changing the locks and not giving me a key (got a court order to get the key or his tenancy was terminated and finally got the key), another for unreasonable enjoyment and damaging the unit, a couple for non-payment where he tried to counter sue me for repairing the apartment he damaged and refusing to let me do the repairs, one for persistently late with rent.  I had to show up in court multiple times.  I finally got him out of there when I caught him vandalizing one of the doors on a video camera I installed and laid criminal charges.  He then sued me a year after he moved out on a bogus slip and fall lawsuit.  The guy is judgment proof, yet owns a van and I know he works under the table as a GC, but the judge couldn't garnish a dime out of him because of his budget and denial that he works as a GC.  It took me 3 years to get rid of him.  I didn't let him in to begin with; he came with the building I bought.  That's what I would call a professional scumbag. 

And that's the real world of landlording.

So, if you haven't got evictions with the volume of tenants you manage and stories like this to tell, there's something very fishy about your article like you read a book and are now trying to market your services as some kind of coaching guru for hire or expert PM.

As I have stated previously, I DO respect your opinion.

Whether or not you believe that I have not had an excessive amount of evictions from year to year is what you believe or don't. There is not a whole lot I can do about that.

I do know this however, I would NEVER evict a paying tenant because they "changed the locks" without permission, it is a lease violation, but hardly a reason to evict the tenants. My client's objective is to actually collect rent, not evict them for silly violations like that.

In my experience in dealing with tenants, if you actually show them some respect (what a concept), they for the most part will do the right things. If you treat tenants like 2nd class citizens, you will probably see different results.

Again, I do NOT listen to guru talk, all of their "information" is relied on THEIR beliefs, which by definition is nothing more than an opinion, therefore cannot be relied on.  I am not sure who said it, but there is a saying that goes

"It was a foolish man, who mistakenly took an opinion as thought".

Why is it so hard to understand that someone might of actually done proper due dilligence in their profession, and put it to paper. Is this not what your suppose to do with any business, let alone Real Estate, where the shear number of risks involved are staggering?

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GreaterKCHomes
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« Reply #16 on: January 03, 2012, 11:33:18 AM »

What part of Kansas City are you in? I'm in the western suburbs and have almost the exact opposite experience as you. I put a sign in the yard and have half a dozen calls a day about it. It'll be on the market for a week or two and be rented by the second or third showing. Some folks would say that my rents are not high enough, but I'm already on the high side of market for the area. My turnover are rented before the old tenant moves out, and the only vacancy is the time it takes me to turn over the house.

My tenants are mostly paycheck to paycheck also, but I rent to a lot of people with surprisingly high incomes and two spouses working.

All of my properties are on the Missouri side, as I will not manage in Kansas, due to mainly the law about "storing" tenants's belongings in the event of an eviction.

I would agree with you that you will see major differences in the suburbs versus the city, completely different type of renter. Most of my client's properties are in the Northeast area, almost all apartments, and in the southern corridor as well as eastern KC. I only manage 1 property in the inner city, and it was a property that was purchased by my client, before he met me. 

The data I compile is,  of those tenants in the lower middle income class, as our properties rent for an average of $750 for 3 beds, $550 for 2 bed apartments.
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Real Estate Investing Forums  |  Real Estate Investing  |  Rehabbing, Landlording Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: The Reality of Property Management...Part 2 « previous next »
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