AVOIDING EVICTIONS!!!!

YOU FINALLY MADE IT!!! YOU OWN YOUR FIRST INVESTMENT PROPERTY! SOMEHOW SOME WAY YOU GOT THE MONEY TOGETHER, YOU SCRIMPED AND SAVED, YOU OVERCAME OBSTACLES, YOU DROVE AN OLD USED CAR INSTEAD OF A NEW ONE, YOU WORE LAST YEARS CLOTHES INSTEAD OF THIS YEAR'S NEW COLORS, YOU TOOK YOUR COFFEE FROM HOME INSTEAD OF A LATTEE FROM STARBUCKS, YOU WORKED TWO JOBS, WHATEVER IT TOOK, OR YOU JUST KEPT YOUR FIRST HOME AND RENTED IT OUT WHEN YOU MOVED INTO A LARGER ONE (SMART MOVE!) WHATEVER IT TOOK, YOU HAVE ACHIEVED YOUR GOAL OF OWNING YOUR FIRST RENTAL PROPERTY! NOW YOU ARE A LANDLORD! YOU HAVE DONE EVERYTHING YOU WERE SUPPOSED TO DO AND GOT A CREDIT REPORT, A POLICE REPORT AND CALLED THE PAST REFERENCES THE PROSPECTIVE TENANT GAVE YOU AND RELAXED. BUT WHERE IS THE RENT? HOW ARE YOU GOING TO PAY THE MORTGAGE? HOW ARE YOU GOING TO PAY TWO MORTGAGES? IF YOU ARE MARRIED HOW LONG CAN YOU KEEP THIS FROM YOUR SPOUSE?

TRUE STORY-WHEN I WAS 23 YEARS OLD I OWNED 12 HOUSES. ONE OF MY TENANTS DIDN'T PAY THE RENT SO I WENT TO SEE HER. I KNOCKED ON THE DOOR AND SHE ANSWERED HOLDING A BABY (I HAD 3 UNDER THE AGE OF 5 MYSELF SO THIS SITE DIDN'T IMPRESS ME THE WAY SHE WANTED IT TO) "HI I'M HERE TO COLLECT THE RENT--"OH I CAN'T GIVE YOU THE RENT, BECAUSE IF I DO I CAN'T FEED MY KIDS," SHE SAID TO WHICH I REPLIED, "WELL IF YOU DON'T, I CAN'T FEED MINE AND THEY COME FIRST". DID I GET THE RENT? NO, BUT I LEARNED SOMETHING THAT DAY--THIS IS A BUSINESS! AND LIKE MOST BUSINESSES THERE ARE OTHER BUSINESSES SET UP TO HELP YOU MAINTAIN YOUR BUSINESSES.

WHEN PEOPLE DON'T PAY THEIR RENTS, THERE ARE PROCESSES IN PLACE TO ENCOURAGE THEM TO DO SO OR TO MOVE THEM OUT AND REGAIN POSSESSION OF THE PROPERTY FOR YOU. THE LAWS DIFFER FROM STATE TO STATE AND SOMETIMES JURISDICTIONS IN EACH STATE. THE BEST I CAN DO HERE IS TO TELL YOU IF THIS IS YOUR FIRST EXPERIENCE WITH A TENANT NOT PAYING THEIR RENT TO GO SEE A REAL ESTATE ATTORNEY WHO SPECIALIZES IN EVICTIONS AND LET THEM HANDLE IT BUT TO HAVE THEM TELL YOU HOW MUCH OF IT YOU CAN DO THE NEXT TIME YOURSELF. IT IS NOT CHEAP. AND HONESTLY, MOST LAWS IN MOST AREAS FAVOR THE TENANT. LANDLORDS ARE CONSIDERED SOPHISTICATED AND TENANTS POTENTIAL VICTIMS (SPARE ME!) IN SOME CASES THERE ARE ACTUALLY TENANTS WHO MAKE IT A POINT TO PLAY THE SYSTEM AND NEVER PAY RENT! OF COURSE, THERE IS THE REVERSE AND PEOPLE NEED TO BE PROTECTED WHICH IS WHAT THE LAW IS FOR.

OBVIOUSLY, THE SHREWED INVESTOR AVOIDS EVICTIONS. ENTER GUARANTEED RENTS!!! ANOTHER TRUE STORY!!! I WAS RENTING A PROPERTY AND A GENTLEMAN CAME UP TO ME WITH HIS CREDIT REPORT; HE SAID, " I HAVE LOUSY CREDIT BUT MY WIFE LOVES THIS HOUSE AND YOU'RE GOING TO RENT TO ME. "WHY WOULD I DO THAT? YOU WOULDN'T, BUT YOU WOULD RENT TO THE CITY WOULDN'T YOU? 'IN A NEW YORK MINUTE", I REPLIED! "WELL, I WORK FOR THE CITY AND THEY ARE GOING TO PAY MY RENT OUT OF MY PAY BEFORE I EVER SEE IT"! HE EXPLAINED HOW IT WORKED AND I RENTED MY HOUSE TO HIM! (WELL ACTUALLY I RENTED IT TO THE CITY!:) IN EVERY CITY THAT I HAVE CHECKED THE CITY, STATE AND FEDERAL GOVENMENTS HAVE THE SAME PROGRAM THROUGH THEIR PAYROLL OFFICES. IN MY CITY THE HOSPITAL WHO ALSO OWNS THE URGENT CARE WALK INS AND HIRES OVER 5000 PEOPLE; AND OTHER EMPLOYERS OFFER THE SAME BENEFIT. WITH SOME RESEARCH YOU CAN FIND THE SAME BENEFIT IN YOUR CITY OR COUNTY. YOU CAN EVEN PROMOTE YOUR RENTAL THROUGH THE EMPLOYER'S NEWSLETTER TO NEW HIRES OR TRANSFEREES THROUGH THEIR HR DEPARTMENTS. I HAVE A CLAUSE IN ALL MY LEASES THAT IF THE TENANT CHANGES JOBS THAN I HAVE THE RIGHT TO TERMINATE THE LEASE AT MY DESCRETION BECAUSE THEN THE CITY OR WHOEVER IS NO LONGER PAYING THE RENT. THE MILITARY ALSO HAS AN ALLOTMENT THAT WILL PAY YOU THE RENT DIRECTLY BUT THIS CAN BE CANCELED WITH TWO MONTHS NOTICE BY THE SERVICEMAN. GUARANTEED RENTS ARE AN EXAMPLE OF WORKING SMARTER, NOT HARDER. EVICTIONS COST SUBSTANTIAL TIME AND MONEY. YOU NEED TO INCREASE YOUR BOTTOM LINE IN YOUR BUSINESS THIS IS ONE WAY TO DO IT.

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