The Club Mastermind Blog

Oct
1
2009
Do You Have the Guts To Evict in December?

I can't tell you how many times I have spoken with new real estate investors who wanted to know what it takes to purchase a rental property.

My response is now almost pure reflex.

Instead of starting a discussion on how to find great properties, or evaluate them for their cash flow potential, I ask this real estate investor if they'd be able to evict a non-paying tenant in the middle of December... and then I stand back and watch their reaction.

I can tell in the first 2 seconds whether they are going to make it as a landlord. 

If they hesitate at all, I know they most likely are doomed because if they can't evict a non-paying tenant in the month of December, they will more then likely fall victim to most "stories" their tenants try to put over on them.

Am I being too harsh?  I don't think so. 

Every successful real estate investor knows that they are running a business, not a charity!

Why do I write this now?  Simple, I have read and or responded to a handful of posts in the past couple of weeks dealing with the subject of tenants not paying their rent.... and we are fast approaching the holiday season where your ability to put someone on the street will be tested.

Are you up for it?  You better be... if not sell your rentals or turn them over to a property manager who will ensure you are getting the rents you deserve.

To Your Success...

Pete
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