Oh my God the stories...

[Jim K.]

I just recently finished up the full purchase of our first small multifamily. Before this, I was in duplexes and single families. I feel I've come away from self-managed low C-class real estate investing with my share of stories. But this...this is incredible. I can't say much now because a lot of this could end up in litigation, but man, there's nothing like REI to give you stories to share.

Almost every day is an adventure, and most of them are barely on the edge of believability. A lot I've shared here on BP. If you had told me at the start of this that I would end up here, really, just at the end of my first decade of DIY landlording, with this many stories to share about this much craziness, human misery, and just plain savagery on the part of just plain savages, I would never have believed it.

What's the least believable thing that's ever happened to you in this business? And please, however nutty it is, I'd like to hear it. For me, I'm not sure. It would probably be the time I was over at a tenant's place caulking up windows and the medical port in his arm fell out. He started bleeding EVERYWHERE. I called 911 and put pressure on the port opening, held his arm together as he threw up and passed out. The long minutes ticked away but finally the paramedics showed up and carted him off to the hospital. Some of you may remember when this happened, I shared it on Bigger Pockets and was accused of virtue-signaling. All I can say is...no...that's just how it happened.

I am reminded of this because sadly, in our small multifamily, a tenant dies of what appears to be a fentanyl OD as we were closing on the place. This is actually the SECOND fentanyl OD I've been a part of as a real estate investor.

[Matthew Irish-Jones]

Quote from @Jim K.:

I just recently finished up the full purchase of our first small multifamily. Before this, I was in duplexes and single families. I feel I've come away from self-managed low C-class real estate investing with my share of stories. But this...this is incredible. I can't say much now because a lot of this could end up in litigation, but man, there's nothing like REI to give you stories to share.

Almost every day is an adventure, and most of them are barely on the edge of believability. A lot I've shared here on BP. If you had told me at the start of this that I would end up here, really, just at the end of my first decade of DIY landlording, with this many stories to share about this much craziness, human misery, and just plain savagery on the part of just plain savages, I would never have believed it.

What's the least believable thing that's ever happened to you in this business? And please, however nutty it is, I'd like to hear it. For me, I'm not sure. It would probably be the time I was over at a tenant's place caulking up windows and the medical port in his arm fell out. He started bleeding EVERYWHERE. I called 911 and put pressure on the port opening, held his arm together as he threw up and passed out. The long minutes ticked away but finally the paramedics showed up and carted him off to the hospital. Some of you may remember when this happened, I shared it on Bigger Pockets and was accused of virtue-signaling. All I can say is...no...that's just how it happened.

I am reminded of this because sadly, in our small multifamily, a tenant dies of what appears to be a fentanyl OD as we were closing on the place. This is actually the SECOND fentanyl OD I've been a part of as a real estate investor.

 I had someone break into one of my vacant units, take video and list it on FB.  I went to the property, secured the units, and tenants started showing up from the illegal add.  I told the tenants it was a scam and they needed to go through our company website.  The guy running the scam showed up tried to collect cash from the unsuspecting tenants and then took off when they told him he knew it was a scam, after flashing a gun of course.  I called the number on the scam, told him it was my property our office was down the street, and we are installing cameras and alerting the police.  He told me it was his property, the police won't do Sh*T and he is going to take me out.  

He ended up being correct about the police, they took down the story, my info, and never did anything about it.  They didn't even call me after I went to the station and had a report written up.  They guy still has the same phone number, and still runs FB ad scams on the same site to this day.  \

I realized early on in this business you need to be able to protect yourself, your property, and your employees, and calling the police ain't going to help.   Most of the units we manage are B class and above but, we manage in D and C class areas as well.  Our theory is those are the areas that most need professional property management.  As long as we have good owners who will keep their units up we will pretty much manage anywhere, that decision has lead me to see some things that most people would prefer not to see in this world.  

There is a rough underbelly to this business, its not for everyone.