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NIGHTMARE Eviction From Rental Property

Published on: December 4 2022 by Hayden Bowles

NIGHTMARE Eviction From Rental Property

NIGHTMARE Eviction From Rental Property

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00:00:00 00:00:04 this is gonna be quite the story about
00:00:02 00:00:05 eight months ago i purchased a home for
00:00:04 00:00:07 eight hundred and ninety thousand
00:00:05 00:00:10 dollars that was a phenomenal deal
00:00:07 00:00:12 absolutely undervalued that home right
00:00:10 00:00:13 now is worth around a million dollars
00:00:12 00:00:15 and i knew that it would rent out for
00:00:13 00:00:17 about a dollar a square foot
00:00:15 00:00:18 however i thought that i would live in
00:00:17 00:00:19 the home for a couple of years and then
00:00:18 00:00:21 rent it out
00:00:19 00:00:23 that ended up turning into just six
00:00:21 00:00:24 months the home has now had a tenant in
00:00:23 00:00:28 there as you guys are aware of
00:00:24 00:00:28 for the past 45 days there is already an
00:00:28 00:00:29 issue
00:00:28 00:00:31 and we already have to go down the
00:00:29 00:00:32 eviction route this is probably the
00:00:31 00:00:35 craziest thing ever
00:00:32 00:00:35 kind of funny
00:00:41 00:00:44 so hey what's going on everyone hayden
00:00:43 00:00:45 here coming back at you with a brand new
00:00:44 00:00:46 video and if you're not familiar with
00:00:45 00:00:47 the channel
00:00:46 00:00:49 tok a lot about my e-commerce
00:00:47 00:00:50 businesses as well as the real estate
00:00:49 00:00:52 side of stuff which is what we're going
00:00:50 00:00:53 to touch on today
00:00:52 00:00:55 before we get into that i just wanted to
00:00:53 00:00:56 let you know this video is going up on
00:00:55 00:00:58 thursday
00:00:56 00:00:59 this coming weekend is my birthday not
00:00:58 00:01:00 gonna be on social media
00:00:59 00:01:02 doing too much stuff there but i did
00:01:00 00:01:03 want to let you guys know we are
00:01:02 00:01:05 reopening the beta group for our
00:01:03 00:01:05 ecommerce program before we officially
00:01:05 00:01:07 launch
00:01:05 00:01:08 later this month i know a bunch of
00:01:07 00:01:09 people missed that discount so if you
00:01:08 00:01:11 want to check it out and learn a little
00:01:09 00:01:12 bit more about e-commerce and how we run
00:01:11 00:01:13 our stuff
00:01:12 00:01:15 for my own brands as well as our couple
00:01:13 00:01:16 dozen clients inside of our advertising
00:01:15 00:01:17 agency
00:01:16 00:01:19 you can learn more about that linked in
00:01:17 00:01:20 the description okay but today
00:01:19 00:01:23 we're going to tok about real estate
00:01:20 00:01:26 and this is quite the story oh my gosh
00:01:23 00:01:28 so imagine you buy a house for 890 000
00:01:26 00:01:30 it's a resort style home
00:01:28 00:01:32 backyard it's got all the stuff you know
00:01:30 00:01:33 misters to cool down the air when it's
00:01:32 00:01:36 hot in the summer like this house
00:01:33 00:01:38 has everything it is without a doubt my
00:01:36 00:01:40 dream home and that's why i bought it
00:01:38 00:01:41 it was also a phenomenal deal i paid
00:01:40 00:01:43 just under 900 000
00:01:41 00:01:46 for the house similar homes in the
00:01:43 00:01:47 neighborhood um are never for sale
00:01:46 00:01:50 the other homes in the neighborhood that
00:01:47 00:01:52 were selling were like 3 600 square feet
00:01:50 00:01:56 and they were selling for 800 grand
00:01:52 00:01:58 so barely less my house is 6 100 square
00:01:56 00:01:59 feet so almost double the size
00:01:58 00:02:01 and i know that i can get about a dollar
00:01:59 00:02:02 a square foot when i rented it
00:02:01 00:02:05 turns out i have a little bit more than
00:02:02 00:02:07 that i got a fair market value of 6 500
00:02:05 00:02:08 a month so when i went to go move out of
00:02:07 00:02:10 the house
00:02:08 00:02:12 40 days later the tenant moved in they
00:02:10 00:02:13 had been signed secured we found him it
00:02:12 00:02:16 was a pretty quick and easy process
00:02:13 00:02:17 they moved in january 1st of this year
00:02:16 00:02:19 yeah that's right literally
00:02:17 00:02:21 not long ago at all especially from when
00:02:19 00:02:22 i'm filming this well
00:02:21 00:02:24 they paid january rent i can't get into
00:02:22 00:02:25 specifics about what the tenants make
00:02:24 00:02:27 i'm going to tok about income in
00:02:25 00:02:29 relation to expenses in a moment
00:02:27 00:02:30 just because i did have to touch on the
00:02:29 00:02:31 legal side of things before i filmed
00:02:30 00:02:33 this video
00:02:31 00:02:34 um but this is really interesting the
00:02:33 00:02:36 rent is 6 500
00:02:34 00:02:38 a month when they signed the lease they
00:02:36 00:02:41 also had to pay a deposit of 6 500
00:02:38 00:02:42 so his first month plus a deposit and i
00:02:41 00:02:43 think a couple other little fees for
00:02:42 00:02:46 this to that so it's like 14
00:02:43 00:02:47 000 that they put down to move in it
00:02:46 00:02:49 goes towards their first month's rent
00:02:47 00:02:51 and then february 1st they'd have to pay
00:02:49 00:02:53 rent well apparently
00:02:51 00:02:54 i have property managers on this the
00:02:53 00:02:56 tenants were out of town for the first
00:02:54 00:02:56 week or two or whatever they get back
00:02:56 00:02:59 into town
00:02:56 00:03:00 whatever they were doing the hot tub
00:02:59 00:03:02 ends up breaking
00:03:00 00:03:04 and this is the end of january probably
00:03:02 00:03:05 january 25th or something i have no idea
00:03:04 00:03:07 so just a couple days before the end of
00:03:05 00:03:10 the month february 1st rolls around
00:03:07 00:03:12 where's our 6 500 february second third
00:03:10 00:03:12 fourth call no answer blah blah blah
00:03:12 00:03:14 blah
00:03:12 00:03:15 property manager's blowing them up by
00:03:14 00:03:17 the way throughout all this time they've
00:03:15 00:03:18 already let us know about the issue
00:03:17 00:03:20 property management's already toked to
00:03:18 00:03:21 me because it's a bigger repair they
00:03:20 00:03:23 have to get my permission
00:03:21 00:03:25 i tok to the pool guys they send guys
00:03:23 00:03:27 out to diagnose it find the issue
00:03:25 00:03:28 we have to replace the entire pool pump
00:03:27 00:03:31 system
00:03:28 00:03:31 3 500 bucks okay it is what it is i
00:03:31 00:03:32 don't know
00:03:31 00:03:34 what these tenants did because it was
00:03:32 00:03:35 working fine when i was in there for six
00:03:34 00:03:36 months
00:03:35 00:03:37 but maybe they broke it maybe it just
00:03:36 00:03:38 happened i i don't know let's just get
00:03:37 00:03:40 it done
00:03:38 00:03:41 so we order the whole system it's gonna
00:03:40 00:03:42 take like a week to come in and then the
00:03:41 00:03:44 two days schedule the guys they get out
00:03:42 00:03:45 there they fix it they test it
00:03:44 00:03:47 and it's like a couple week process very
00:03:45 00:03:48 normal like you could not possibly do it
00:03:47 00:03:51 any quicker
00:03:48 00:03:52 however the tenants were adamant about
00:03:51 00:03:54 this hot tub
00:03:52 00:03:55 and they refused to pick up our calls
00:03:54 00:03:56 they were not paying rent
00:03:55 00:03:58 they were completely by the way
00:03:56 00:04:00 illegally withholding your rent you
00:03:58 00:04:01 can't withhold your rent because the hot
00:04:00 00:04:02 tub's broken
00:04:01 00:04:04 and someone and your your landlord's
00:04:02 00:04:05 actually fixing it like that's
00:04:04 00:04:07 just completely childish and these
00:04:05 00:04:08 people are in their 30s so absolutely
00:04:07 00:04:10 hilarious there
00:04:08 00:04:11 now my property manager's calling
00:04:10 00:04:12 because he wants to check say hey have
00:04:11 00:04:13 you guys checked the hot tub is it
00:04:12 00:04:14 working can you let us know so we can
00:04:13 00:04:15 see if we
00:04:14 00:04:17 have to send the guys out again they
00:04:15 00:04:17 wouldn't pick up the calls they finally
00:04:17 00:04:19 text
00:04:17 00:04:21 my property manager after a couple days
00:04:19 00:04:22 and excuse my language i'm gonna have to
00:04:21 00:04:23 bleep some of this out this is exactly
00:04:22 00:04:25 what they said
00:04:23 00:04:26 why the are you calling us when my
00:04:25 00:04:30 hot tub
00:04:26 00:04:33 is broken okay
00:04:30 00:04:35 uh using foul language being completely
00:04:33 00:04:36 aggressive being aggressive and
00:04:35 00:04:38 threatening in person
00:04:36 00:04:40 to both the pool people as well as my
00:04:38 00:04:42 property manager when he goes there
00:04:40 00:04:44 absolutely immature and not okay that
00:04:42 00:04:46 also actually breaks lease terms
00:04:44 00:04:48 so kind of interesting to see what's
00:04:46 00:04:50 going on he also used the language
00:04:48 00:04:52 my hot tub referring to his like bro
00:04:50 00:04:54 you're renting relax
00:04:52 00:04:55 but we got it fixed nonetheless they
00:04:54 00:04:57 still haven't paid rent
00:04:55 00:04:59 we're nearing the end of february as of
00:04:57 00:05:00 when i'm filming this starting march 1st
00:04:59 00:05:02 and i'll keep you guys updated on what
00:05:00 00:05:02 goes on this video is going to be posted
00:05:02 00:05:04 after
00:05:02 00:05:06 starting march 1st i can legally start
00:05:04 00:05:08 the eviction process
00:05:06 00:05:10 now there is the whole question about
00:05:08 00:05:12 the moratorium the eviction moratorium
00:05:10 00:05:14 meaning because of covid you cannot
00:05:12 00:05:16 evict people that's what most people's
00:05:14 00:05:18 view on that moratorium is
00:05:16 00:05:19 is you can't evict however that's very
00:05:18 00:05:21 incorrect so for an example let's say
00:05:19 00:05:22 someone's at your property waving a gun
00:05:21 00:05:23 around
00:05:22 00:05:25 at your you know apartment complex
00:05:23 00:05:28 threatening other people
00:05:25 00:05:30 trust me you can evict them the only one
00:05:28 00:05:32 little way that you can't evict people
00:05:30 00:05:34 is if they are not paying rent and it's
00:05:32 00:05:36 only because they can't
00:05:34 00:05:37 because their income was affected in
00:05:36 00:05:39 some way because of covet
00:05:37 00:05:41 that's the only thing that it basically
00:05:39 00:05:44 says in terms of restrictions
00:05:41 00:05:44 well this tenant is being physically uh
00:05:44 00:05:46 threatening
00:05:44 00:05:48 verbally threatening completely
00:05:46 00:05:48 ridiculous we could you know go the
00:05:48 00:05:50 whole route of
00:05:48 00:05:51 noise complaints and this and that i
00:05:50 00:05:53 mean anybody could pull those strings
00:05:51 00:05:55 they have broken the lease so i know
00:05:53 00:05:55 that i can go through the legal eviction
00:05:55 00:05:57 part
00:05:55 00:05:59 which i would personally be very curious
00:05:57 00:06:01 about the costs associated
00:05:59 00:06:03 the timeline and stuff like that oh and
00:06:01 00:06:04 quick update for you after everything
00:06:03 00:06:05 has already happened
00:06:04 00:06:07 they threw a complete rager party with
00:06:05 00:06:08 over 70 cars
00:06:07 00:06:10 music until three in the morning the
00:06:08 00:06:13 whole nine yards they also had
00:06:10 00:06:14 unauthorized pets very very big dogs
00:06:13 00:06:16 in the house without permission there's
00:06:14 00:06:18 poop all in the house in the yard dog
00:06:16 00:06:19 toys they didn't even try to hide it
00:06:18 00:06:21 they did a bunch of things to break the
00:06:19 00:06:23 lease they also set up a bone arrow
00:06:21 00:06:25 archery thing in the backyard
00:06:23 00:06:27 so weapons that weren't allowed in the
00:06:25 00:06:28 property either a bunch of things that
00:06:27 00:06:29 would have made it very easy to actually
00:06:28 00:06:31 evict
00:06:29 00:06:33 continue on with this story though this
00:06:31 00:06:34 tenant basically has three options
00:06:33 00:06:36 they can either and by the way my
00:06:34 00:06:37 property manager told them exactly what
00:06:36 00:06:39 the situation was he's like hey
00:06:37 00:06:40 you guys can leave which is option
00:06:39 00:06:41 number one it's totally up to you you're
00:06:40 00:06:43 allowed to leave
00:06:41 00:06:46 you're just going to lose your deposit
00:06:43 00:06:48 of 6 500 you owe february rent of 6 500
00:06:46 00:06:50 plus a two month lease break fee which
00:06:48 00:06:51 is standard for any lease
00:06:50 00:06:53 so they're gonna owe about twenty six
00:06:51 00:06:54 thousand dollars that's what they would
00:06:53 00:06:56 lose
00:06:54 00:06:57 and what we had realized is they've
00:06:56 00:06:59 actually already signed
00:06:57 00:07:01 for another house they put eight
00:06:59 00:07:02 thousand dollars down on another
00:07:01 00:07:03 property
00:07:02 00:07:05 and have told us they're officially
00:07:03 00:07:07 leaving so it's not like they're
00:07:05 00:07:08 trying to squat the house or stay there
00:07:07 00:07:10 and just not pay it's like
00:07:08 00:07:12 they seem to be planning on leaving we
00:07:10 00:07:12 don't know exactly when we'll see what
00:07:12 00:07:15 happens
00:07:12 00:07:17 i'm really curious they can either stay
00:07:15 00:07:18 and pay february rent plus a late fee
00:07:17 00:07:20 which means they would definitely cause
00:07:18 00:07:20 issues down the road i can guarantee
00:07:20 00:07:23 that
00:07:20 00:07:25 or they can number two they can leave
00:07:23 00:07:27 and not pay which would be very
00:07:25 00:07:27 interesting i'd have to pursue the legal
00:07:27 00:07:29 route
00:07:27 00:07:30 their credit would be shot because it
00:07:29 00:07:31 would go to collections which is just
00:07:30 00:07:32 the stupidest financial decision on
00:07:31 00:07:34 their part
00:07:32 00:07:35 and number three they could leave and
00:07:34 00:07:36 pay which means they just pay all the
00:07:35 00:07:37 stuff that they owe
00:07:36 00:07:39 we would not come after them their
00:07:37 00:07:40 credit would not be dinged it would just
00:07:39 00:07:43 be like a standard lease break
00:07:40 00:07:44 so we'll see what happens you guys let
00:07:43 00:07:45 me know what you
00:07:44 00:07:47 think they should do you let me know
00:07:45 00:07:49 what you think i should do because
00:07:47 00:07:51 this is always something i've waited for
00:07:49 00:07:52 and from a real estate landlord
00:07:51 00:07:53 perspective i guess you could call it
00:07:52 00:07:55 just from a real estate investor
00:07:53 00:07:57 perspective with rental properties i
00:07:55 00:07:59 have set aside money
00:07:57 00:08:01 for something just like this each one of
00:07:59 00:08:03 my properties i have a reserve
00:08:01 00:08:04 currently of three months which means if
00:08:03 00:08:05 something were to happen i have at least
00:08:04 00:08:07 three months of
00:08:05 00:08:10 full expenses covered for each property
00:08:07 00:08:12 now since this issue popped up
00:08:10 00:08:14 and this was in my most expensive rental
00:08:12 00:08:15 by far i mean this is a 78 000
00:08:14 00:08:18 a year tenant for one person it's
00:08:15 00:08:20 ridiculous well i have now since decided
00:08:18 00:08:22 to bump up my reserves to six months
00:08:20 00:08:23 just to give me that safety net every
00:08:22 00:08:24 time i buy a new property i'll add six
00:08:23 00:08:26 months of reserves for it
00:08:24 00:08:28 that six month reserve is seventy
00:08:26 00:08:29 thousand and two hundred dollars
00:08:28 00:08:31 that would be the total of all my
00:08:29 00:08:32 property's expenses if there was zero
00:08:31 00:08:33 income coming in
00:08:32 00:08:34 that's just going to make me very
00:08:33 00:08:36 comfortable moving forward with anything
00:08:34 00:08:37 that could possibly go wrong
00:08:36 00:08:38 i'm not really worried about the
00:08:37 00:08:40 financials i just want to make sure it's
00:08:38 00:08:40 there it's covered it's never been
00:08:40 00:08:43 touched
00:08:40 00:08:43 cool so it's going to be interesting to
00:08:43 00:08:45 see what happens
00:08:43 00:08:47 they have as of right now again like
00:08:45 00:08:49 four days to either pay everything and
00:08:47 00:08:50 leave pay everything and stay
00:08:49 00:08:53 or we can start going through with the
00:08:50 00:08:55 legal process of evicting them pursuing
00:08:53 00:08:57 them for all of the costs plus the legal
00:08:55 00:08:58 costs and collections costs associated
00:08:57 00:09:00 anything like that so it's definitely
00:08:58 00:09:01 gonna be an interesting time to kind of
00:09:00 00:09:03 see what happens
00:09:01 00:09:04 i really hope they haven't destroyed
00:09:03 00:09:06 anything in the property that's kind of
00:09:04 00:09:08 the interesting piece
00:09:06 00:09:09 you wish of course they have i'll show
00:09:08 00:09:11 you at the end of the video and this is
00:09:09 00:09:13 not a negative thing a bad thing i'm not
00:09:11 00:09:14 here to call anyone out or whatever or
00:09:13 00:09:16 if they're watching the video
00:09:14 00:09:17 it is what it is now from a financial
00:09:16 00:09:18 perspective
00:09:17 00:09:20 i had multiple people that were
00:09:18 00:09:21 interested in this property most of them
00:09:20 00:09:23 are making about like 50 000
00:09:21 00:09:25 a month 600 grand a year that's a
00:09:23 00:09:26 generalization i'm not legally allowed
00:09:25 00:09:27 to again i got a consultation before i
00:09:26 00:09:29 made this video
00:09:27 00:09:31 i can't say who the tenants are i can't
00:09:29 00:09:33 say their exact income
00:09:31 00:09:34 let's just say that they barely got
00:09:33 00:09:36 approved
00:09:34 00:09:38 okay so you can i you can roughly
00:09:36 00:09:40 ballpark their income
00:09:38 00:09:41 they barely got approved which was red
00:09:40 00:09:43 flag number one for me because i'm tired
00:09:41 00:09:44 of dealing with people even inside of my
00:09:43 00:09:46 companies who don't have a ton of money
00:09:44 00:09:47 in comparison to the cost of something
00:09:46 00:09:50 that's going on
00:09:47 00:09:52 it's just a natural law in the universe
00:09:50 00:09:54 for whoever is struggling to afford
00:09:52 00:09:55 something they will always be the one
00:09:54 00:09:57 that presents an issue for an example
00:09:55 00:09:58 my friend who has a car dealership it's
00:09:57 00:10:00 the person trying to buy the ten
00:09:58 00:10:02 thousand dollar audi with zero dollars
00:10:00 00:10:03 down not willing to put any money in
00:10:02 00:10:04 who can barely afford it they're buying
00:10:03 00:10:06 a car they shouldn't be that's the
00:10:04 00:10:07 person who causes issue not the guy who
00:10:06 00:10:08 walks in the same day and this is a true
00:10:07 00:10:09 story
00:10:08 00:10:12 buys a porsche from him in cash for a
00:10:09 00:10:13 hundred grand it's not that person
00:10:12 00:10:16 this person who's renting this house
00:10:13 00:10:18 these people my property
00:10:16 00:10:20 they are on the lower end of someone who
00:10:18 00:10:22 should be renting a house like that
00:10:20 00:10:25 barely getting approved from a financial
00:10:22 00:10:25 perspective it makes no sense i think
00:10:25 00:10:27 they should
00:10:25 00:10:29 absolutely not be in this property
00:10:27 00:10:30 however it doesn't mean they can't
00:10:29 00:10:32 tiknically
00:10:30 00:10:33 afford it so it just depends the same
00:10:32 00:10:33 things in business or whatever if
00:10:33 00:10:35 someone like
00:10:33 00:10:36 is struggling to afford something that's
00:10:35 00:10:37 always the person who will give you a
00:10:36 00:10:39 problem
00:10:37 00:10:40 so i think and this is my opinion if
00:10:39 00:10:43 they stay
00:10:40 00:10:44 there will be another issue i also think
00:10:43 00:10:46 that since they've been in here for a
00:10:44 00:10:47 little over a month now
00:10:46 00:10:49 i think that what happened is they got
00:10:47 00:10:50 their first utility bill
00:10:49 00:10:52 which is probably about two thousand
00:10:50 00:10:53 dollars a month this time of year for a
00:10:52 00:10:55 home like that maybe fifteen hundred
00:10:53 00:10:56 i know cause i live there and i've lived
00:10:55 00:10:57 in similar homes in the same area for
00:10:56 00:10:59 years
00:10:57 00:11:00 well i think that that might have been
00:10:59 00:11:01 bigger than they thought it was and
00:11:00 00:11:02 originally i thought okay
00:11:01 00:11:04 maybe they're making up all these
00:11:02 00:11:05 excuses because they can't pay rent
00:11:04 00:11:06 right now
00:11:05 00:11:07 but then they went and put eight
00:11:06 00:11:09 thousand dollars down on another
00:11:07 00:11:11 property so now i know for a fact it's
00:11:09 00:11:12 not a coveter income related issue so
00:11:11 00:11:14 this will be very interesting i will
00:11:12 00:11:16 keep you guys updated with what happens
00:11:14 00:11:16 you let me know what you think i should
00:11:16 00:11:18 do
00:11:16 00:11:20 if i legally could i would love to just
00:11:18 00:11:21 bust open the front door and go confront
00:11:20 00:11:22 them face to face and see where that
00:11:21 00:11:23 goes
00:11:22 00:11:25 because they are absolutely ridiculous i
00:11:23 00:11:26 mean how childish can you be
00:11:25 00:11:28 to think you can withhold rent for
00:11:26 00:11:29 something like that like come on you're
00:11:28 00:11:31 not 18 you're 30s
00:11:29 00:11:32 so you're in your 30s so it'll be
00:11:31 00:11:34 interesting to see what happens i will
00:11:32 00:11:35 keep you guys updated from a real estate
00:11:34 00:11:36 perspective
00:11:35 00:11:37 this is interesting again that's why i
00:11:36 00:11:39 wanted to touch on the financials of
00:11:37 00:11:40 reserves for the properties
00:11:39 00:11:42 all my properties have been cash flowing
00:11:40 00:11:43 for quite some time over the last year
00:11:42 00:11:44 and a half so
00:11:43 00:11:45 the money's there it's it's not a
00:11:44 00:11:47 problem and you know if we have to get
00:11:45 00:11:47 them out i'm sure i can get someone else
00:11:47 00:11:50 in there
00:11:47 00:11:51 within a 30-day period so if i don't
00:11:50 00:11:52 have february rent
00:11:51 00:11:54 i get them out beginning of march get it
00:11:52 00:11:56 cleaned let's say i have to
00:11:54 00:11:57 you know spend the whole month getting
00:11:56 00:11:59 it rented out on a good note i would
00:11:57 00:12:00 then have it rented out april 1st which
00:11:59 00:12:01 would be great
00:12:00 00:12:03 that means i'm missing two months of
00:12:01 00:12:05 rent plus a cleaning fee which
00:12:03 00:12:07 that you know who knows how the whole
00:12:05 00:12:08 collections thing goes if they don't pay
00:12:07 00:12:09 it might take six months to get the
00:12:08 00:12:12 money you never know but i'd be out of
00:12:09 00:12:13 pocket like thirteen thousand dollars so
00:12:12 00:12:14 well thirteen thousand worth of money
00:12:13 00:12:15 that would have been collected my
00:12:14 00:12:16 expenses probably would have been like
00:12:15 00:12:18 ten thousand
00:12:16 00:12:20 eleven thousand so we shall see what
00:12:18 00:12:21 happens i will keep you guys updated let
00:12:20 00:12:22 me know what you think about this whole
00:12:21 00:12:23 situation
00:12:22 00:12:24 very interesting i wanted to tok about
00:12:23 00:12:25 it because i've never done a video like
00:12:24 00:12:26 this
00:12:25 00:12:28 you're not here to call anyone out or
00:12:26 00:12:28 say anyone's better or worse or a tenant
00:12:28 00:12:30 or blah blah
00:12:28 00:12:31 i just want to tok about the financials
00:12:30 00:12:32 my perspective on the situation and
00:12:31 00:12:34 what's going on there
00:12:32 00:12:36 now quick update on my duplex which is
00:12:34 00:12:38 doing phenomenal love that one
00:12:36 00:12:40 the west side the second side of the
00:12:38 00:12:42 duplex that is being renovated
00:12:40 00:12:43 is almost done that should be done in
00:12:42 00:12:45 probably five to seven days
00:12:43 00:12:46 and we already have people lined up who
00:12:45 00:12:47 are applying and they just want to see
00:12:46 00:12:48 it in person first so
00:12:47 00:12:50 we should have a tenant in there in the
00:12:48 00:12:50 next two weeks that should be totally
00:12:50 00:12:52 great
00:12:50 00:12:54 super excited for that one to continue
00:12:52 00:12:55 cash flowing that's about an 11.5
00:12:54 00:12:56 percent cash-on-cash deal
00:12:55 00:12:59 with huge equity after all the
00:12:56 00:12:59 renovations so absolutely love that one
00:12:59 00:13:02 been able to push
00:12:59 00:13:04 rents very high by staying in the fair
00:13:02 00:13:05 market value by renovating it so
00:13:04 00:13:07 that's been amazing i will definitely
00:13:05 00:13:07 keep you guys updated on that one as
00:13:07 00:13:09 well
00:13:07 00:13:10 and maybe i'll do a full average monthly
00:13:09 00:13:13 cash flow breakdown
00:13:10 00:13:14 all my expenses as a landlord i don't
00:13:13 00:13:16 really like that term but as someone who
00:13:14 00:13:17 invests in real estate specifically a
00:13:16 00:13:18 rental property so
00:13:17 00:13:20 hope you enjoyed this video if you have
00:13:18 00:13:21 any questions leave it in the comment
00:13:20 00:13:22 section down below
00:13:21 00:13:24 make sure to drop a quick like and with
00:13:22 00:13:27 that being said i will see you
00:13:24 00:13:28 in the next video peace hold up this is
00:13:27 00:13:30 what ended up happening so
00:13:28 00:13:32 they left a mountain of trash with two
00:13:30 00:13:33 shopping carts i don't even know
00:13:32 00:13:34 how they got them in the property i
00:13:33 00:13:36 don't even want to know they threw a
00:13:34 00:13:38 huge party i apologize to the neighbors
00:13:36 00:13:40 i'm sending each of them a bottle of
00:13:38 00:13:41 wine for everybody who was upset
00:13:40 00:13:43 they had pets in the property they
00:13:41 00:13:45 caused some surface level damage there
00:13:43 00:13:47 were some bricks that were broken
00:13:45 00:13:49 five out of the seven bedrooms need the
00:13:47 00:13:50 carpet cleaned one out of those five has
00:13:49 00:13:51 to be replaced
00:13:50 00:13:53 so it's gonna be a couple thousand
00:13:51 00:13:53 dollars another 500 to get the property
00:13:53 00:13:55 cleaned
00:13:53 00:13:57 thankfully it wasn't anything terrible
00:13:55 00:13:58 or not you know breaking a countertop or
00:13:57 00:14:00 punching holes in the wall
00:13:58 00:14:02 but still some damage nonetheless could
00:14:00 00:14:03 have been a lot worse so just a couple
00:14:02 00:14:06 grand some missed rent
00:14:03 00:14:07 and it is almost impossible for us to
00:14:06 00:14:08 actually get the money through
00:14:07 00:14:10 collections i have
00:14:08 00:14:11 maybe one percent hope that we ever get
00:14:10 00:14:12 that money back so i'm just considering
00:14:11 00:14:14 this a loss
00:14:12 00:14:15 could have been worse obviously could
00:14:14 00:14:17 have been much better i'm definitely
00:14:15 00:14:18 looking forward to getting another
00:14:17 00:14:20 proper tenant in there
00:14:18 00:14:21 for the next year or two so i'll keep
00:14:20 00:14:22 you updated with what happens just
00:14:21 00:14:31 wanted to break everything down in this
00:14:22 00:14:31 video hope you enjoyed drop a like
00:14:32 00:14:34 you