All Forum Posts by: Steven G.

 If you behave like this to your tenants do not be shocked when they treat your property poorly, leave with giving you the absolute minimum notice, and for the most part make your job as a landlord much more difficult.  Handle these issues on a case by case basis don't just default to playing the part of a faceless corporate entity with "policies" that you follow.

@Sandra Holt

I feel as a landlord we have to take a situation like this one and decide if it would be easier to take care of this simplistic repair ourselves or charge our presumably loyal tenant for the repair.  If the tenant is one that has an issue very seldom, pays their rent on time, and is generally problem free then I have no problem taking care of these minor repairs.  

Personally I would take care of the repair as a show of good faith and understand that this behavior fosters a good relationship between landlord/tenant.  Too often I hear horror stories of bad tenants when in fact the whole "bad situation" could have been avoided with a bit of common courtesy.  For the landlord who is more business oriented and not so personable just look at it as investing $100 in maintaining a good relationship.

@John Cohen

Thanks John

@John Cohen

John,

After searching in my area for multifamily properties I became a bit discouraged when I looked closer into the numbers.  I am referring to 2-4 family properties and honestly I didn't even consider going big until very recently.  When it comes to the larger deals do your properties cash flow a tremendous amount or do they tread water until they are paid off at which point returns can be realized?  

The 2-4 family property strategy just isn't for me because it seems that one will in a best case scenario only build equity and not cash flow significantly until it is free and clear.  Does this change when you have many units in one building like you have? 

I feel similar about the more we learn the more we doubt.  Its not stopping me from investing, but I definitely understand where you are coming from.  I recently read an awesome quote from an author I cannot recall-  "99% of people are scared of risk, thats why they are the 99%".  It sounds lame, but that quote really motivated me to start taking more chances(responsibly of course).

@Katie Douglas

Katie,

I didn't mean to come across harsh, but I've been hearing a lot of people in my circle talking about how hard things are these days, and honestly it is not that difficult.  Our generation has a knack for putting themselves in a bad situation(credit card debt, student loan debt, new car payment, mortgage that makes saving impossible, etc.), then complaining about how its hard to save or invest.

My story is not interesting or inspiring, I bought an acre of land that had a small house that was falling down with my entire life savings.  I salvaged the foundation, well, septic system and built a new house there.  I rented a room and lived like a Bozo for the 2.5 years my place was under construction.  I only could complete work when I had the cash for materials, so it took a long time.  

The sacrifices that can be made to assist along the way have already been mentioned, in particular by @Ally H..  

The best advice that I can give is: Don't borrow money that isn't going to make you money or enable you to live cheaper until you can comfortably do so.  I wish you a lot of luck and I also admire your courage to speak your mind because it really sparked a great thread!!

 This is gold!

 You hit the nail on the head.  Our generation feels entitled to drive a BMW and live in a $300k home when they leave college.  Having things that you have not earned is expensive and ultimately slows the road to success.  Most of us who make it on our own make sacrifices that others are simply not willing to make.  

@William Morgan

This sounds like a great opportunity for you!

@Jaren Woeppel

Buying a multifamily and being an owner occupant.