Do you have what it takes to be a landlord? I know a few. Get to know one, take them to dinner, talk about the worst in tenants. Here's a quiz:1. Tenant is a mother, with kids, hasn't paid rent in 2 months, it's just shy of Christmas - could you evict her and sleep well at night?2. Tenants are family, dad is out of work - can you evict them?3. Tenant's neighbors have complained of strange men coming and going all times of day and night - you suspect prostitution or drugs. What do you do?4. Tenants do $4K in damages above their deposit and it'll take a month of solid work to put it back into shape - if you hire it done. Four months doing it yourself. What do you do? We're talking head-sized holes in the walls, broken doors, filth everywhere an inch thick, broken windows, chewed-up windowsills, dog and cat pizz on the floors5. Prospective tenants - nice old man and wife - say landlord is selling. They don't seem to have his name, though, my goodness. Their house is spotless. Take a chance, or no?ANSWERS (not all MY situations, but all real-life situations)1. Yes. If you hesitated at all, don't do this.2. Yes. As a matter of fact, you went out to dinner last night and saw said father with a woman not his wife, and he paid you $300 of the back-rent to be quiet about it. (this really happened). Take the money. Evict anyway as he owes $2K.3. You call tenant, tell her you know what's going on, tell her she vacates the property in 3 days or you'll call the cops. Apartment is empty 3 days later. No forwarding address. Re-rent.4. Hire it done and go back to work. Not.worth.it.5. I used tax records to find the owner. Tenants were being EVICTED. Ran credit check - worst thing I've ever seen, evictions, judgements, liens, bankrupcy - guy had an actual credit score of 406 in a 300-800 range. They looked and sounded like fresh-baked-cookies churchgoing ma and pa. They were every landlords' worst nightmare. Better a biker who pays his rent than a schoolmarm who does't...You need a plumber, an electrician, and a well-rounded handyman you trust and can call at the drop of a hat. Ability to run credit and background checks. Info on how to evict. Those credit checks saved my backside more than once...SG "my 2 cents..."
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