Tenants from Hell, Slum Landlords, and Run Down Rental Houses
So, you’ve been working for years, you’ve saved up some money, and you’ve decided to invest it in a more secure market, the myth of the unsinkable real estate investment, by buying certain residential properties, houses or an apartment complex, in order to generate some steady, passive income, so you think.
You spend additional money, let’s say $45,000, improving the property; you paint it, put in new carpets, new kitchen cabinets, washer and dryer, and everything else, hoping to entice your prospective tenants. So, you’ve bought some ads in your local newspapers, and little did you know, you’ve finally found someone who’s willing to sign your lease agreement.
Now that he or she has moved in, you don’t have to worry about fixing stuff inside the property, because everything was new and in super working condition when your tenant first moved in.
You’re now reaping the benefits, just as you’ve planned it. Your tenant pays the rent on time each month; so you have nothing to worry about. The money is good, right? Yeah, right. A few months later, the police is called for domestic disputes at your property, but no big deal, right? Right! A few more months, the neighbors complain about loud music from your property, but it’s okay, read more…
