Landlord Eviction Cup Half Full

[Josue Velney]

When it comes to investing, perspective is key. Is your cup half full or half empty? As of September 1st, I have a tenant living in one of my units rent free. The tenant refuses to leave and told me, if I want him gone to call my fancy lawyer. That is exactly what I did. I won the case due to the fact that the tenant is not paying rent and over stayed the lease. Unfortunately, the tenant appealed and asked for more time. The tenant came to court with a doctors note and basically said he is an elderly man. I am waiting to see if the judge will give me the execution. A friend said, "damn that sucks that guy is costing you a lot of money". I said, "I agree but this is just a cost of doing business". I have lost over 8k in rent and legal fees. The reason my cup is half full is for three reasons. first,  as a landlord you should always plan for an eviction. You should set aside money monthly. Second, due to the fact I currently manage over 40 units,  I don't have time to worry about one unit. This is why I hire great lawyers so I can focus on my portfolio. Third and final reason, I purchased this property in 2010 at 450k. This house could sell on the open market today for $1M and above. I also only put down $3k at the time of the purchase.