If you can't pay the rent MOVE OUT!!! Above all your landlord is not the banker or loans officer. If you try to borrow money from me you will be evicted. Darn near every month I get late payers and non payers. Once again I'm preparing for a couple of court cases on Thursday. As well I have to meet with the board of health to do a final walk thru on an 8 suiter I bought from a previous owner that let it slide badly. I had to pour about $50 grand into it to bring it up to my standards.
I went to a financing seminar this evening and heard about a company that lends $100K to $1.2 mil on deals from 7% to 11% up to 80%. A little too expensive for my blood.
Anyway life isn't too bad, but I sure have to be proactive to stay one step ahead of shady tenants! I used to give 14 days leeway before court but now I apply to court for eviction if rent has not been received by the 2nd of the month. I am not the payday loan company! See http://www.realestatepays.com for more landlord posts.
I went to a financing seminar this evening and heard about a company that lends $100K to $1.2 mil on deals from 7% to 11% up to 80%. A little too expensive for my blood.
Anyway life isn't too bad, but I sure have to be proactive to stay one step ahead of shady tenants! I used to give 14 days leeway before court but now I apply to court for eviction if rent has not been received by the 2nd of the month. I am not the payday loan company! See http://www.realestatepays.com for more landlord posts.
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