The "Professional Tenant" from Hell: BEWARE ALL LANDLORDS!

Discussion in 'Landlord & Rental Property Questions' started by Stacked, Feb 19, 2014.

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    Feb 19, 2014
  1. Stacked

    Stacked Active Member

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    I just finished reading one of the most incredible and shocking articles for the real estate investing industry. It is about a "professional tenant" (read: dirtbag) who may just be the worst there is.

    If you are a current landlord or are thinking about it, please take the 5-10 minutes it'll take you to read this article.

    You Think YOUR Professional Tenants Were Bad? Meet this guy -- LANDLORDS BEWARE!! (ok - that was my title, but it is far more fitting)

    We've had many great posts on our blog and the forums about how to deal with tenants set on ripping you off, but I think we must discuss this particular case.

    Be sure to read the comments below the article as well . . . (most disturbing, IMO)
     
    Stacked, Feb 19, 2014
    Stacked, Feb 19, 2014
    #1
    2. Mar 3, 2014
  2. mikebutton

    mikebutton Guest

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    Oh my god! Due to such types of people other tenants with good nature are affected. I think the court should publish a public message regarding this person. Judge should also warn other landlords.
     
    mikebutton, Mar 3, 2014
    mikebutton, Mar 3, 2014
    #2
    3. Mar 7, 2014
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

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    That's the main type of thing that keeps me out of directly owning rental properties.
     
    JR Ewing, Mar 7, 2014
    JR Ewing, Mar 7, 2014
    #3
    4. Mar 27, 2014
  4. SteakTartare

    SteakTartare Senior Investor

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    Good Lord. I just got finished reading through this article and am thoroughly disgusted at someone who would game the system like that.

    And, agreed, JR Ewing. Maybe a REIT is a better way to go that bothering with physical rental property.
     
    SteakTartare, Mar 27, 2014
    SteakTartare, Mar 27, 2014
    #4
    5. Mar 28, 2014
  5. HeinrichM

    HeinrichM Active Member

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    Clearly not someone that you would like to rent your property to. It is quite scary to see how many people supported him in the comments. Can someone really get away with this for so long? I can understand it if he moved around between towns, but this guy basically moved around in a 6 block square area.
     
    HeinrichM, Mar 28, 2014
    HeinrichM, Mar 28, 2014
    #5
    6. Mar 28, 2014
  6. JR Ewing

    JR Ewing Super Moderator Staff Member

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    REITs can be good - especially the publicly traded ones (transparency).

    You can also buy shares of real estate mutual funds and public companies. These are highly liquid - you can always get your hands on your $ in a few days if you need it.
     
    JR Ewing, Mar 28, 2014
    JR Ewing, Mar 28, 2014
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    7. Mar 31, 2014
  7. DivvyDiv

    DivvyDiv New Member

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    It only takes one nasty tenant to ruin your taste for owning rental property. Screen, screen and then screen again. Your house sitting empty for a month or two is better than hosting a deadbeat.

    Where I live (Alabama), he would be gone within a month of not paying rent. From posting the notice, serving, court date and the Sheriff walking him out. I love this state.
     
    DivvyDiv, Mar 31, 2014
    DivvyDiv, Mar 31, 2014
    #7
    8. Apr 7, 2014
  8. firelily99

    firelily99 Well-Known Member

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    This is the type of thing that has me on the fence about buying a two family and renting a half of it. I would love to do it but I really don't want or need the hassle. Connecticut has a very clear process so I don't think that he would have been able to pull something like that off.
     
    firelily99, Apr 7, 2014
    firelily99, Apr 7, 2014
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    9. Apr 8, 2014
  9. GottStock

    GottStock Member

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    Sounds like the back story to a good Steven King novel. Anyone told him about this yet :)
     
    GottStock, Apr 8, 2014
    GottStock, Apr 8, 2014
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    10. Apr 11, 2014
  10. firelily99

    firelily99 Well-Known Member

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    This guy is mind numbingly horrible. I have heard some bad stories but this is the all time worst that I have ever read about.
     
    firelily99, Apr 11, 2014
    firelily99, Apr 11, 2014
    #10
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