Time for another update. I like doing these separate from the monthly Property Earnings reports because I can view how I’m handling the tenants themselves, not just the money.
Property 1
The Nepalese family are… they are such a friggin’ delight to have around. They asked for permission to start gardening in the backyard, and have already grown some vegetables. I never hear them argue or raise their voices at each other, just giggling and playing with the baby. One Saturday as I was getting ready to go to work, I could hear the mother singing “Twinkle Twinkle Little Star” to the baby. Just hearing that was… man, I don’t have the words. It’s such a great and positive environment for the baby, but more importantly for me. I truly enjoy going home after work knowing that they’ll be hanging around. Belle and Sebastian have been great too.
Property 2
Cha-ching! Cha-ching! Every Friday after midnight, my phone makes that money sound to let me know that a portion of my new tenant Tyrell’s rent has been deposited into my account. This guy has been great so far, and I think he’s gonna be a big part of my real estate venture. Tyrell installs windows for a living. For me, he’s charging $200 to buy and install each window, no matter what the size. Wanting to take advantage of this opportunity while he’s still my tenant, I’ve decided to have him replace all the old windows in every property I own, starting with Property 2. I did my math and saw that I can still yield a monthly profit from Property 2 if he installs three windows a month at $190. So I brought the idea to him and he accepted. Doing the math again, I realized that I screwed up and would actually be losing $7 a month. Well, whatever. I’m not going to have many opportunities like this again, so I need to milk it for as long as he’s my tenant. Yes, it means that Property 2 won’t be profitable for a while. But when I think of having brand new windows in every apartment, I really don’t care about the $7 a month I’ll lose. Increasing the resale value and making my apartments even easier to rent is always at the top of the list.
Nicholas has resorted to texting me whenever he sends out his rent, to avoid getting a text from me if the postal service screws up like it did in April. I really hate that, and I should seriously research alternatives to tenants mailing in their rent before the end of 2015. Getting the weekly deposits from Tyrell’s paycheck inspires me. Rent should always collected this way.
Property 3
All is quiet at Property 3. Taniqua and Eugene were late on rent again but, as usual, paid up when they said they would. Even though I take issue with them being my only black tenants who just HAPPEN TO BE the only tenants that pay late almost every month, I actually like these guys. They take care of the place and are very polite. I had this exchange with Eugene on the 12th of this month:
Eugene (3:34pm): Hey Ahkenaten I just put a money order in the mailbox for 325. My car is getting fixed. Thank you so much [for allowing them to pay late] it means so much to us
Me (3:39pm): Oh ok… I’ll update your account tomorrow morning. Thanks for the heads up.
Eugene (3:40pm): No thank you you’re a true blessing in our lives
Me (3:41pm): Much appreciated
Hmm… I’ve never been called a true blessing in anyone’s life… in fact, I think I’ve been called the opposite of that on a few occasions. So they’re good tenants as far as I’m concerned, and making that extra $35 a month from their late fees is always nice.
Thomas wants a gas stove. His current stove doesn’t work, and his old landlord didn’t want to fix it because it would raise the utilities. Even though I feel the same way, I think I’m going to at least send someone to fix the stove. Once fixed, I’ll raise his rent by $10-$15 which I hope will cover the increase in utilities. It’s important to note that Brie now lives with Thomas, leaving her pedophile boyfriend Rory who lives upstairs. I swear, the second I get the money to start rehabbing Property 3, Rory’s apartment will come first. I really can’t stand the fact that I give something like him housing.
Property X
Well, it was fun while it lasted, but Property X is back to being the pain in the ass place it’s always been. The basement floods every time it rains, so I got handyman Alfonso on the job to prevent water from getting into the basement anymore. His plan is to build little brick walls around the openings of the basement to prevent water from getting through. He’s also going to build up topsoil all around the house to prevent water from even reaching the sides of the house. But that was a week ago, and Alfonso is still dragging his feet. Getting him to finish this job has been a pain, but it should be done by the end of the week. Ugh. Handymen in the summer.
Danny was very close to being evicted this month. He missed a payment of his payment agreement and screened my call one time. The very next day I filled out an eviction form and was going to hand it in, but chose not to. Filing for eviction on a Thursday gives me the same court date as filing on a Friday, so I decided to hold off. He ended up paying the $260 last night to continue the agreement, and I let him know that a loss of communication [screening my calls] will only hurt him. Regardless, I still have his eviction forms filled out. Danny’s tenancy is starting out with a payment agreement, and that’s never good. If he doesn’t get back on his feet soon, how will he be able to pay rent once those big winter bills come in from National Grid at the end of this year. So I’ll hold on to it and wait for the next opportunity to evict him. Getting him out while the weather is good will give me a larger amount of prospective tenants to choose from, and that’s especially good when it comes to Property X.
So that’s that. The biggest lesson I learned from this? If I’m going to evict, I have to file by Wednesday if I want to have a court case schedule for the next week. That could be the difference between getting someone out and in before the end of the month, and therefore the difference between losing a little or losing a lot.
Property 1
The Nepalese family are… they are such a friggin’ delight to have around. They asked for permission to start gardening in the backyard, and have already grown some vegetables. I never hear them argue or raise their voices at each other, just giggling and playing with the baby. One Saturday as I was getting ready to go to work, I could hear the mother singing “Twinkle Twinkle Little Star” to the baby. Just hearing that was… man, I don’t have the words. It’s such a great and positive environment for the baby, but more importantly for me. I truly enjoy going home after work knowing that they’ll be hanging around. Belle and Sebastian have been great too.
Property 2
Cha-ching! Cha-ching! Every Friday after midnight, my phone makes that money sound to let me know that a portion of my new tenant Tyrell’s rent has been deposited into my account. This guy has been great so far, and I think he’s gonna be a big part of my real estate venture. Tyrell installs windows for a living. For me, he’s charging $200 to buy and install each window, no matter what the size. Wanting to take advantage of this opportunity while he’s still my tenant, I’ve decided to have him replace all the old windows in every property I own, starting with Property 2. I did my math and saw that I can still yield a monthly profit from Property 2 if he installs three windows a month at $190. So I brought the idea to him and he accepted. Doing the math again, I realized that I screwed up and would actually be losing $7 a month. Well, whatever. I’m not going to have many opportunities like this again, so I need to milk it for as long as he’s my tenant. Yes, it means that Property 2 won’t be profitable for a while. But when I think of having brand new windows in every apartment, I really don’t care about the $7 a month I’ll lose. Increasing the resale value and making my apartments even easier to rent is always at the top of the list.
Nicholas has resorted to texting me whenever he sends out his rent, to avoid getting a text from me if the postal service screws up like it did in April. I really hate that, and I should seriously research alternatives to tenants mailing in their rent before the end of 2015. Getting the weekly deposits from Tyrell’s paycheck inspires me. Rent should always collected this way.
Property 3
All is quiet at Property 3. Taniqua and Eugene were late on rent again but, as usual, paid up when they said they would. Even though I take issue with them being my only black tenants who just HAPPEN TO BE the only tenants that pay late almost every month, I actually like these guys. They take care of the place and are very polite. I had this exchange with Eugene on the 12th of this month:
Eugene (3:34pm): Hey Ahkenaten I just put a money order in the mailbox for 325. My car is getting fixed. Thank you so much [for allowing them to pay late] it means so much to us
Me (3:39pm): Oh ok… I’ll update your account tomorrow morning. Thanks for the heads up.
Eugene (3:40pm): No thank you you’re a true blessing in our lives
Me (3:41pm): Much appreciated
Hmm… I’ve never been called a true blessing in anyone’s life… in fact, I think I’ve been called the opposite of that on a few occasions. So they’re good tenants as far as I’m concerned, and making that extra $35 a month from their late fees is always nice.
Thomas wants a gas stove. His current stove doesn’t work, and his old landlord didn’t want to fix it because it would raise the utilities. Even though I feel the same way, I think I’m going to at least send someone to fix the stove. Once fixed, I’ll raise his rent by $10-$15 which I hope will cover the increase in utilities. It’s important to note that Brie now lives with Thomas, leaving her pedophile boyfriend Rory who lives upstairs. I swear, the second I get the money to start rehabbing Property 3, Rory’s apartment will come first. I really can’t stand the fact that I give something like him housing.
Property X
Well, it was fun while it lasted, but Property X is back to being the pain in the ass place it’s always been. The basement floods every time it rains, so I got handyman Alfonso on the job to prevent water from getting into the basement anymore. His plan is to build little brick walls around the openings of the basement to prevent water from getting through. He’s also going to build up topsoil all around the house to prevent water from even reaching the sides of the house. But that was a week ago, and Alfonso is still dragging his feet. Getting him to finish this job has been a pain, but it should be done by the end of the week. Ugh. Handymen in the summer.
Danny was very close to being evicted this month. He missed a payment of his payment agreement and screened my call one time. The very next day I filled out an eviction form and was going to hand it in, but chose not to. Filing for eviction on a Thursday gives me the same court date as filing on a Friday, so I decided to hold off. He ended up paying the $260 last night to continue the agreement, and I let him know that a loss of communication [screening my calls] will only hurt him. Regardless, I still have his eviction forms filled out. Danny’s tenancy is starting out with a payment agreement, and that’s never good. If he doesn’t get back on his feet soon, how will he be able to pay rent once those big winter bills come in from National Grid at the end of this year. So I’ll hold on to it and wait for the next opportunity to evict him. Getting him out while the weather is good will give me a larger amount of prospective tenants to choose from, and that’s especially good when it comes to Property X.
So that’s that. The biggest lesson I learned from this? If I’m going to evict, I have to file by Wednesday if I want to have a court case schedule for the next week. That could be the difference between getting someone out and in before the end of the month, and therefore the difference between losing a little or losing a lot.
No comments:
Post a Comment