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As you could potentially have already guessed, every single one of these things happened to me, while i had amassed 26 rental properties. In fact, oftentimes, all these problems happened in identical month. Now, for awhile (when Got about 10 houses), 1 person don't pay rent, I could cover it with the nine other payments. But once two, three and sometimes even five tenants didn't pay in replacing month, had been devastating to my endeavor. I had to go to my business account and pay a whole lot $3,000 with only a time in mortgage payments, with no income to afford it. Plus, I had to pay real estate management company to get my tenants to pay or to evict these kind of.
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Soon, this became the norm, not the omission. There were constant problems inside my houses. Unhappy tenants resulted in poor repair of the property and extra maintenance problems. About one year, after We amassed 26 houses, I was having problems with roughly 10-15 houses and/or tenants 1 week. I was evicting on the least two tenants each month, and approximately four to seven tenants were either behind on rent not really paying just about all. Promises were made, payment plans arranged and few, if any, ever followed through.
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