Not paying rent affecting my goals

[Nicole A.]

This is more of a vent than anything.

So the first month with a new tenant has come around and I still have no rent payment. We set it so it was due on the 5th and late by the 10th; The renter wanted to pay rent by either electronic deposit or going to my bank to deposit.

Anyway, it's the 9th and I still have nothing. His phone is conveniently disconnected as well. Failure to Pay Rent papers will be filed tomorrow if I have nothing by 3pm. It's just so frustrating! The renters I found for the upstairs unit have been great so far...sending rent early even! Apparently I didn't do as well with this guy... Maybe I'm speaking too soon, but so far it doesn't feel good.

Between 2 of 4 of my renters being behind on rent, this has really stopped me from seriously looking at purchasing my third rental. Some of my tenants were "grandfathered" in from the previous owner. My cash flow is affected; I can't get another mortgage until I get rid of these bad renters!