I wonder if Brandon Turner felt like this

[Michael Salamone]

So lately I've been going through this ugly process of removing a tenant from my property. This is my first property I am house hacking, and I am very new and young to this. This whole process has been emotionally draining, frustrating, and very... educational. Without going into details, I never knew people could be so vindictive and out to get me. Even after I've tried so hard to help them, I am disheartened. The worst part is, I feel like I've managed to mess up everything up until this point. 

To get to the title of this post, I found myself repeating a mantra if you will of "Brandon Turner must've felt this same way at some point, and look at him now". I can now appreciate the suck that a lot of people don't see. All the headaches and mistakes people look passed for the shiny slogan of Real Estate Investor. And right now, I am in the middle of that suck (with only 1 property!). 

I'm not sure why exactly I wanted to make this post. Maybe other people can relate? Maybe I needed to open the pressure valve that binds my frustration in a healthy way? But I can say, that I am thankful to have role models like Brandon and David to look up to, and help me remind myself of my why. 

Becoming a real estate investor has already taught me ten fold of what I expected to learn, and I am excited to continue learning. 

Michael 

[Joe Splitrock]

@Michael Salamone this is the hardest lesson to learn in this business. You can be very kind and understanding to a tenant. You can give them gifts and discounts on rent. You can let them have three dogs. You can waive late fees and repair things they break. You can let them stay for months without paying rent, after a series of broken promises. Then when you finally send them notice to "pay or quit", they turn into horrible people. 

Never seek to understand. It doesn't matter what stories they tell or if they are telling the truth. You are wasting time trying to comprehend something that makes no sense to a normal person. Your job is to collect rent, enforce lease policies and maintain the property. Don't try to be friends or buy good will by giving them things. Giving gifts, waiving late fees or bending policies only creates an expectation that you will do the same in the future. They will be your best friend today, but turn on you when you say "no". 

Always be fair and honest. Treat people kindly by being sympathetic to their situation, but firm on your policies, "I am sorry you lost your job. I encourage you to look at unemployment and rent assistance programs to help cover your bills as you get back on your feet. I do need rent payment per the lease policy, because my business has bills to pay. If you are unable to pay, I can work with you on moving out." This is the bottom line, pay rent or leave.

You will learn much of this can be avoided with proper screening. You always need to run a credit report. You need to verify income directly with the employer. You want to call previous landlord references. Search them out on social media.

Every landlord goes through this at some point. Some get lucky for years, then get hit hard by nightmare tenants. It is important that you adjust your mental attitude. It is only draining or frustrating if you let it be. This is just part of the business. This is honestly why real estate is so profitable. The problems create a barrier than forces many out of the business. 

Success in real estate (or any business) is being able to live to fight another day. That means keeping the business financially solvent and overcoming challenges. This is just a road bump in the long journey ahead. Learn from the experience, adjust your processes and move on.