Brad wanted to get into real estate investing a while back so he bought a single-family rental property. A few days ago he called to say that he was desperate to sell. In fact, he told me that he didn’t care if he lost money on the deal, as long as he never had to work with another tenant ever again!
Does this sound like a motivated seller to you?
Over coffee at Waffle House, Brad went into more detail. He had constant turn over – tenants were staying no more than a month or two and then moving out. He got daily complaint calls telling him that this thing wasn’t working or that that thing was broken. The tenants never paid on time. The yard was always a mess. Bottom line: To Brad, tenants were nothing but a big pain in the keister!
From Waffle House I followed Brad to his rental property. The closer we got to his property, the worse the area became: boarded up houses, stray dogs everywhere, broken-down cars, etc. I locked my door and was ready to…