Why do you think that I ended the book with stories about ‘tenants from hell’ and not some group hug comment?
Any ideas?
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Perhaps, so that it will be the last thing that we remember from your book…
Like a warning, that this sort of thing does happen often and might happen unless we are VERY careful buying properties with existing tenants, and also making sure that we do our due diligence on new tenants also.
I think everyone will probably come across one tenant from hell in their investing, it’s good to have prior warning and know how to handle it.
Del [
]… because success comes from doing things differently???
(see… I am learning!)[
]As Del said chances are we will all come across a tenant from hell in our investment lives.
If you prepare for the worst, you cannot be suprised.
Build your wall around your city of Babylon, to ensure your gold is protected.
Today we call it “due diligence” and insurance!Keep smiling,
Sue [
]Be careful not step on the flowers when you’re looking at the stars
Because property is about people.
Positive cashflow property is much more about the tenant (as that is where your cashflow comes from), whereas negatively geared property is more about the property (capital gains).
Rod.
To keep us on our toes, and to remain focused on the tenants, especially with wraps.
Michael
“We aim for Perfection, however excellence will be tolerated.”
Hi Steve,
Thanks for provoking thought to your question. I figure you listed “tenants from hell” at the end of your book for two reasons.
1/ It’s a self qualifying measure. A skimmer will read the last bit, think it’s all too difficult and dismiss himself (appropriately) from the hard yards. He will still walk away wondering how some bastard managed to do it though, with 130+ properties.
and ..
2/ In effect it’s a reminder in summary of your major concepts. We are dealing with people, not bricks. Maintain due diligence by qualifying your tenant or agent. Always create a win-win. Don’t create problems, engender solutions.
In thought, Phil
Hi Steve,
I think it’s a reminder that solutions to problems = money.
In other words, take the books wisdom, and create a solution for:
a) the owners of the properties by taking them off their hands (at a discount)
b) tenants – don’t allow them to get to the stage where you’ll have such problems with them.
Also, if you do the right thing by tenants, you’ll create loyalty and referrals which usually means a higher grade of tenant being referred in.
Jason
Warmly,
Jason Seperic
Triumph Publishing
http://www.triumph-publishing.comI think for every situation there is a different solution. But also remembering a definition I read in one of Robert Kiusaki’s books “profit is when you save someone something”. Pretty simple but the tenant from hell situation could possibly be avoided if you are looking to “save someone something”.
thanksHi!
All excellent answers.
To be honest, at the time of writing, there was no alterior motive behind ending the book with Tenants From Hell [
] It’s just the way things ended up.However, if I can take credit retrospectively, I would have crafted it this way because people who read the book and think “Oh no, that’s too scary from me!” should be investing to start off with.
Too often these days I see people wanting a risk free no effort way of earning a profit. Such a thing is a dream – a fantasy! What’s required is massive action. I seriously don’t think that 99.9% of people understand this.
Only when you want something bad enough that you are willing to make a sacrifice does it take on an urgency needed for you to reach a point whereby you attain the drive, focus and resolve needed to:
*find deals where none seem to exist
*find finance when you are always told no
*explore new options
* etc. etc. etc.This concept is even lost with the some (perhaps many?) of the MAP people I work with. But it is early days and hopefully I’ll get the point across sooner rather than later.
Life is passing us all by and we need to do the best we can.
Thanks for having your input on this matter. I’ve enjoyed reading the answers.
Warm regards,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
so steve,
does that mean you are trying to take credit for something that never really crossed your mind? [
] LOLjust kiddin’
[
] Powmow []I KNOW THE ANSWER!
Because that is reality!
and that is the crap you deal with.To be honest, I liked the story of Tom – The real estate agent from Ballarat more.
Sounds like some of the P plate drivers I go to school with [
]
]
] LOL
] Powmow [
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