Why you might not want to do rentals: Tip #3
Thursday, Apr 24, 2008
Things were going great. Not really, but at least we had basic things going for us, like oxygen and the weather. After we had our rents stolen and the building almost condemned the first month, it was time to up the ante.
Now, I do my best to protect the identities of people who might not want to star on my blog. There is a guy in my church who won’t talk to me because he’s afraid he’ll end up on my blog. (I’ll give him a fake name: Paul.) So, we have this very tall 300+ pound black guy with muscles like He-Man in apartment 3B. We’ll call him 3B for short, because if I tell you his first name, you will definitely know who he is.
We met him the day we were looking at the $35,000 house. We’ll call that house with three units 35k for short, so we can confuse anyone who comes late to the series. I knew that he was a little “unbalanced”, but we’re not allowed to discriminate and all that.
So our property manager goes over to tell him that ownership has changed, shows him the paperwork, and explains that the same rent is to be paid at the same time. In other words, we chose to honor the existing contract, as is customary. 3B goes into an all out tirade: cussing, screaming, chasing, throwing garbage cans, and seething, “I’m going to kill you!” while our poor property manager (who got a raise) finds sudden agility in his old age. He manages to reach his cell phone in the car/shield and dials 9-1-1.
When the cops come, he threatens to kill them too but instead (in the only moment of justice so far) gets hauled off to jail.
So, we are in town again that week and needing to do some repairs at 35k, but we’re leery of going on our property. But we’re in luck, because I spy a police officer walking down the street. I ask Greg to pull over, and he does while muttering about what I was up to now.
I flagged down the police officer and explained the situation. I wanted to know if he would accompany us to the apartments since we didn’t have tasers, guns, and radio backup. He asked who the tenant was. “3B,” I replied. “Oh, 3B?” mind you, this is a thriving metropolis, “Yeah we know him. He’s in jail.” And just like that, we were allowed on our property again (for 3 days anyway, until he got out of jail).
That’s not even the good part. Greg flies up to court for eviction, explaining that he never paid any rent and was arrested for trying to kill people. We had all our proof and followed procedure perfectly. The judge replies, get this, “Well, maybe he didn’t understannnnd.” And just like that, without a dollar of good faith money, another month’s free rent for the tenant. No kidding. When we finally got possession after a lot of money, hassle, and two court appearances charged to moi, we had to pay to remove his belongings, along with the month old fried chicken on the counter. It’s a lovely system.
So my third tip is this: Since the justice system is for the criminal, not the law abiding citizen, and if that makes your blood boil, you might be better off hiding your retirement money in a hole as opposed to rental units. I would’ve said to buy stocks, but since mine are all down, I’m going with the hole in the ground. On second thought, since the dollar is about to be worthless due to hyper-inflation, go out and get a lot of gold fillings. That’s my keen insight—worth exactly what it cost you.
22 Comments
RSS feed for comments on this post. TrackBack URI
Leave a comment
Oh my goodness! This series is like watching an old 80’s horror flick… be sure to read only in the daylight and with a butcher knife right next to the computer. OK, maybe the butcher knife is a bit much but this ‘3B’ character is giving me the willies!
Hey, instead of gold fillings, how about bags of rice - 4 at a time from your local Sam’s. Now there’s an investment that’s going up in value!
Comment by Lady Why (April 24, 2008 @ 2:09 pm )
I heard about the rice from Glenn Beck–didn’t realize it was really true!
So, yeah, RICE!
Comment by Amy Scott (April 24, 2008 @ 2:11 pm )
Oh, Amy! I don’t know whether to laugh or cry! You DO have a way with words
God bless,
Sallie
Comment by Sallie (April 24, 2008 @ 2:22 pm )
Amy, I’ve been reading your blog for awhile–but haven’t ever commented. My husband is a grad student at Georgia Tech and we are poor apartment living folk at the moment. Anyway, I have been quite amused at your stories of rentals, especially once I found out they were in Bristol. I lived in Bristol (and consider it home) before I got married and moved away so my husband could do graduate school. I have no idea “where” exactly your rentals are located, but from the stories you tell, I’m pretty sure I could guess!
Comment by Jana (April 24, 2008 @ 3:10 pm )
Oh I hadn’t thought of the gold fillings idea! That’s great. Then they’d only have to knock us out to steal our money.
Wonder how I could get them done without a trip to the dentist…
Comment by petersonclan (April 24, 2008 @ 5:01 pm )
like i said, this is a really, really good series. it sounds like you had some characters as tenants.
Comment by omo (April 24, 2008 @ 5:29 pm )
As a completely ‘off topic’ comment, I’d just like to give a hearty Congratulations to your oldest boy for winning TNFarmgirl’s soap naming contest!! TNFarmgirl happens to be one of my favorite blogs too!
I think I’ll be ordering myself a batch of ‘Sweet Relief’ soap really soon… you should see our poison ivy!
Comment by Lady Why (April 24, 2008 @ 6:37 pm )
Actually, we have been stocking up on as much food as we can–and you guessed it–a 50# bag of rice just walked in the house (with my husband underneath it!) We are in the process of buying out Costco as fast as we can and putting it into the basement and the three freezers we bought for a song. So in a few months we will be enjoying our rice for pennies a serving while most everyone else is…. The homeraised chickens are in the freezer and the layers are in the backyard. We will see how wise we were or if we overreacted. At least we can still eat everything we bought. BTW, silver is cheaper and moving about as much.
Comment by Anonymous (April 24, 2008 @ 7:46 pm )
Hey! You had lunch with me the week 3B went to jail! I don’t mind being part of the story! lol
BTW, if you ever want to have lunch again, I promise something better than toasted cheese…. Definitely some chocolate for dessert. Didya know Sam’s has huge bags of chocolate chips? I’d rather stock up on those than rice. We don’t eat much rice. Growing boys seem to prefer potato.
Comment by Lyn (April 24, 2008 @ 10:39 pm )
you’re making me wonder why anyone bothers to rent to people in the first place. i’ve rented twice in my life and i never realized i could get away with staying there without paying. in fact, when we got an eviction notice for having a dog, we left. you mean we could have stayed put and not paid to boot?
Comment by chickadee (April 25, 2008 @ 12:04 am )
Hmmm, I was beginning to think your life was boring……….:-)
Comment by osohappy (April 25, 2008 @ 7:19 am )
I’m enjoying this series
even though I’ve never considered buying a rental. Now I know to not even consider it! 
Comment by Kaylene (April 25, 2008 @ 9:13 am )
Wow. Eye-opening.
I may be writing a series like this 10 years from now. Dh is heart-set on being in real estate, and a landlord. We lucked out with our first renter–Older, single, working two jobs, Pentecostal Holiness. Obviously not going to tear our house apart.
He wants to try Section 8 (supposedly part of the rent is guaranteed by the gov’t and people have to pay their part or lose the subsidy. We shall see…)
But, wow…
Comment by Margaret (April 25, 2008 @ 2:54 pm )
The bank isn’t too bad a place for your money. 0.5% interest is better than the damp earth at 0%. I think.
I’ve heard that you should remove your life savings from everywhere and put the money into a can in a hole in the ground before you fill out the FAFSA when your kids start college. This never seemed ethical to me (or my husband, who is very ethical, even more so than I; he’s totally straight up, not the least bit of creative interpretation considered). So we did the FAFSA. This year it said we can afford 43.9K of college. I am not saying this to brag. If you knew us, you would know how totally, absolutely ridiculous this is. It underscores the fact that you don’t get penalized for having money–lots of people have lots more money than we have. You get penalized for being careful and honest. As in, having some life savings and not putting said savings into a can in a hole in the ground.
Some trust in horses and some trust in chariots (and bank accounts and investments and tricky accounting and bombs and high tech wireless spy equipment).
We trust in the name of the Lord our God.
Comment by ruth (April 25, 2008 @ 4:25 pm )
I grew up as a missionary kid in Peru, South America. We rented the whole time we were down there, and we quickly found that people LOVED renting to Americans because in general they took better care of the houses.
I was watching TV last night, and there was a couple on there that was renting a house and decided to add a second story. The landlord didn’t even know until they moved out. That was a new one to me.
Comment by ashley @ twentysixcats (April 25, 2008 @ 6:58 pm )
I’m curious as to why the overly apparent racial stereotypes that you so openly place within your blog. Perhaps a better question would be if he was let’s say from India would you have said…He was a five foot six towel to his head wrapping….that you had to pay x amount of dollars to remove the smell of curry. Who knows perhaps this was an oppurtunity for you to adminster the Gospel. Not by letting him stay for free, but by actually talking to him. Just a thought.
Comment by Manis (April 26, 2008 @ 3:33 am )
That’s awful!!! (But I did laugh out loud at the end!)
Ruth
Comment by Ruth MacCarthaing (April 26, 2008 @ 6:07 am )
I read all three tips. Too late. We’ve owned cracked out rental propety for years. Thankfully it is only one house and not apartments with lots of them. I could scare you silly with photos of what the sinks and toilet looked like when our last renters left. Ew! Anywho - we spent a couple of full days cleaning and finally found a decent renter - so far.
Comment by Tiffany (April 29, 2008 @ 10:04 pm )
Amy, you inspire me with all these great reasons not to love money.
To God be all glory,
Lisa of Longbourn
Comment by Lisa (April 29, 2008 @ 11:18 pm )
[...] I don’t have to do that. For one, I’m not a writer, and for two, my stories are juicy enough. Remember the tenant who tried to murder by garbage can? That was all [...]
Pingback by Amy’s Humble Musings » My vacation (July 23, 2008 @ 10:51 pm )
This sounds so much like the stories my mom and her husband have about their rental properties. Wowza!
Comment by Dollymama (July 24, 2008 @ 9:04 am )
[...] are taking a free ride. If I stop doing any of these, the law will get me. And trust me, remember the guy who tried to kill the cops? He’s walking free, but I KNOW that my behind would be in jail for shutting off the $1,000/month [...]
Pingback by Amy’s Humble Musings » On being a Christian and a landlord with cash flow….at the same time (August 13, 2008 @ 9:37 pm )