You Can't Get Blood Out Of A Turnip??

Question

Dummy me. Waiting WAY too long to put my foot down on a delinquent tenant. Got caught up in school, etc. On Wed June 21 she stated she had mailed the rent. As of Saturday, June 24, no rent received. On Sunday I held an open house. I texted the tenant stating they could pay the rent, IN CASH, while I was at the open house or I would hire an attorney on Monday. She responded back that "you can't get blood out of a turnip".

So, Monday I hired an attorney, The case was filed Tuesday. On Tuesday, I got A LOT of calls about the house. I found this to be curious timing. I had very few calls Saturday or Sunday, and none Monday, but on Tuesday, LOTS of calls. I believe they were put up to this by the tenant. I explained to all of them that I had hired an attorney on Monday, the day before, to handle my interests in the property. AFTER the case had been electronically filed, I told another caller that an eviction had been filed. It was now public record.

SO, last night I drove over there to ask the neighbors to keep an eye out and notify me if they see any activity. It appeared the house was vacant. Sure enough, these people had fled, no notice given to me, at some point between Sunday and Thursday.

Now, my two count eviction will be dropped to one count. We no longer have to sue for possession, but I am going after her for damages. Even though I load up on security deposits, I will be upside down. My only option now is to have her served at her place of employment. I WILL NOT let people rip me off on rents, etc.

As far as her comment that "you cannot get blood out of a turnip", I DID give her my opinion:
TURNIPS GET EATEN!

Levi T. · Answer

Get a judgement, put it in your pocket and go home... wait 10 years then take her to collections when that turnip has turned into a carrot worth eating. By then she may have a good job, good life, maybe even own a nice house... She will never see it coming!

John Thedford · Answer

She will NOT own a nice house with financing UNLESS the judgement is paid off:)I recall a few years ago a title company contacted me about a judgement I had against someone. They wanted me to accept less than the face value. I gambled and told them NO---that he owed that amount and I was not willing to settle for less. It was for a few thousand. After I responded, I questioned myself as to whether I had made a mistake and should have taken what was offered. A few weeks later I was paid in full. Public records can work against people:)

Kim Meredith Hampton · Answer

@John Thedford Eat and be merry....................... Go for it

Nicholas Cook · Answer

@John Thedford, residents should definitely be held accountable for damages. Sounds like a bit of a roller coaster ride.

Matthew Paul · Answer

Go for it .

John Thedford · Answer

Jay: we have a guy that owns a multi million dollar house here in Naples right on the gulf. He made his FORTUNE buying bad debt at cents on the dollar and then collecting on some/most of it. It can be very lucrative if you want to chase the money but at my age I will settle for sustained rental income. However, I don't cheat anyone out of a dime and will not be a pushover for those that think they can cheat me. Once I get a judgement recorded, 15-18 years is a LONG time to have that on your credit record. No financial institution in FL will let someone purchase financed real estate without paying off the judgement. They may also find themselves DENIED for credit with outstanding judgements if they apply for credit cards.

Jay Hinrichs · Answer

@Levi T. a buddy of mine that's all he does he buys bad credit card judgements for about 5 cents on the dollar.. by the time he gets them they are 3 to 5 years old.. they shelve them then at about 9.5 years they lexus nexus the folks somehow figure out where they work or bank... BANK being the best... and by the time they introduce themselves to the debtor they have cleaned out their bank account.... Now not so people think they are heartless they will give some money back so they don't leave them destitute but they get them back on a pay plan and of course have made a tidy profit on their 5cent purchase.... I tried one time to go the full monty on a dead beat tenant.. learned my lesson... they BK'd so not only were we out the time and the cost but we had to give back the garnishment for the last 6 or 12 months.. ended up costing us money.... at this point.. its notes all the way.... done with rentals personally...

John Thedford · Answer

I had to file the eviction because I did not know when she would leave. Not the best solution--but the ONLY solution. She did minor damage but nothing horrible. The old question should be WHEN you have an eviction--not IF you have an eviction. It WILL happen in this business. She how has an invitation to court:)

Chinmay J. · Answer

At least she left. Could have been lot worse. Now you have vacant house that you can rent out, and still get judgement.

Thomas S. · Answer

This is the primary reason that when landlords screen applicants they not only need to screen for ability to pay but also ability to collect. If landlords would understand and embrace this policy they could drop their defeatist attitude regarding filing suite and collecting from delinquent tenants. Obviously class C investors do not have this option but the vast majority of landlords with class B properties would be wise to educate themselves on this aspect of our business.