Why?

[wylie]

You know, what I really think is that having just bought this and spent a few weeks ripping up the shag pile carpet squares (different colour in every room) and scrubbing the walls of 15 years of one couple's ciggy tar build up on the walls, and painting throughout, we just needed to get the cash flow happening.

I think that we relaxed our standards a little and perhaps my "gut instincts" were a bit off because of the need to get the cash flowing. That was the arguing couple, but the one that damaged the place and who was on drugs was a 180 degree change from when he went in, and his girlfriend (now ex) will be paying the insurance company for a few years because she was on the lease as well.

Hope she chooses her boyfriends better next time, but a cheap lesson really, to get out of his life.

 

[dash11]

Hi Skater

Maybe you should have let the under bidder purchase this particular property....for once!

Being serious for just a minute and knowing the area, what are the neibours like, maybe they are acting like a magnet for "likeminded" tenants.

 

[Francesca C]

Hi Skater

You sound pretty savvy, I would say its just bad luck!

 

[Shane Port]

.

. I let Hubby have the pleasure of the stove that had never been cleaned.:
I guess we all have horror stories first tenants in freshly renoed house left after 3 months and the brand new stove took me 6 hrs to clean, actually used paint scraper to get gunk of side walls. Thanks also for comment on L.O.C.
Shane

 

[kathryn d]

Skater,
I agree to just make your IP's clean and livable.Our 11unit was built in 1964.It still has the original hardwood floors and kitchens.
We always seems to have a trouble making tenant. As soon as one leaves, another in the building seems to be the issue.
It used to , and still does sometimes,bother me that we get this type of tenant.I was talking to a fellow landlord.He made the comment that if these tenants could buy a house they wouldn't rent.Our rents are more than a mortgage payment. Our best tenants are ones that have sold a house and need a place temporarily until their new place closes.
Maybe this should be our niche....contact the Real Estate agents in this area and tell them that.

Now I don't expect anything from this building.It provides funding for our other investments.When we purchased it there were 5 units filled.Except for small amounts of time, we don't have any vacancies.This has made our building increase in value. As a commercial unit , it is our rent roll that lenders look at.

Maybe you should look at your problem property that way.
If you have enough properties, there will always be a black sheep.

 

[skater]

Hi Skater

Maybe you should have let the under bidder purchase this particular property....for once!

Being serious for just a minute and knowing the area, what are the neibours like, maybe they are acting like a magnet for "likeminded" tenants.

Hahaha, the underbidder wasn't at this one.

Actually there are scummy neighbours, but they seem to have improved over the years. We will see what the new year brings.

 

[willy1111]

Maybe it has something to do with Feng shei or numerology. What number is the house, they say number 4's can require a lot of work.

 

[skater]

Really? It is 40. Maybe that's it.