NIGHTMARE Eviction From Rental Property
Published on: December 4 2022 by Hayden Bowles
NIGHTMARE Eviction From Rental Property
Table of Contents
NIGHTMARE Eviction From Rental Property
| startTime | durationTime | text |
| 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 |
