Tenant asked me for Extension Day 1 of being a Landlord! Advice?

[Dwain R.]

Hello,

I am from Arkansas. I am about as new of a real-estate investor as you could be. I closed on my very first deal Sep 11th, 2017. I bought a 4 unit Apartment complex, with a unit that was a former salon that could be converted into a 5th unit, a 3 bed 1 bath house, 3 acres of clean land, and a shop (insulated with electricity) for $115,000.

The seller let me collect all of September's rent which was nice. The house, my largest rent, $500, asks me the first day if he could have until the end of the month to pay his rent. He apparently got injured falling off a house working. The seller verified this story is true. He had to be taken to a hospital in Little Rock. So this situation was obviously difficult enough for me to know how to handle. The cake, iced in tragedy...his dad died this past weekend. This is also true.

I would love to know how some of you more experienced investors would handle this scenario. Serious injury and death of father in a couple of weeks time, and I am faced with this within 2 hours of being a landlord! Welcome to the party I guess!

Thanks,

Dwain

[Jeff Small]

I have done this for 41 years. If I bought that building today that happened to me, I would explain to him nicely that I will file for evection and during that time he can arrange his finances. If he saying he's paying next month info you have no worries. But you must must must file for evection.