Few Landlords Prepared for Time Demands or Impact on Family
Landlords Have No Friends
- Tenants- No – Most Relationships One Sided – Terrible
- Tax People – No – Can’t Wait to Get Profits from Sale
- Governments – No– More and More Regs – Federal, State, Local
- The Press -No – Portray Landlords as Villains
- Relatives – No – Few Like Time and Effort Necessary (See Tax People)
Success is based primarily on Equity Creation – Appreciation and Loan Decline – Not Income Generation.
Common Issues:
- High Renter Turnover Rates– Very Costly
- Late Rent Payments– Chasing Tenants
- Staying Organized– Can Cause Stress and Legal Problems
- Frequent Evictions– An eviction is a stressful and costly process.
- Relationships with Family and Heirs – Low Interest in Continuing
- Excessive Stress Over Property Management Responsibilities
PROBLEMS ARE OPPORTUNITIES IN DISGUISE
