Landlording Is A Business, Not A Hobby.

Landlords are constantly trying to reinvent the wheel. Why? In my first book, Streetwise Investing in Rental Housing, investors find a kitchen tested recipe for landlording in the inner-city. Throughout the entire volume I detail from start to finish how to accumulate and manage investors to financial independence. Those who have not read the book can plead ignorance and I will accept that as a viable excuse. However, for those who have read the book have no excuse for not achieving the success which I now enjoy. When I encounter other landlords at eviction court, I find them to be mean and temperamental. Again, those who aren’t familiar with my tactics are welcome to a reprieve from my criticism. However, for all others I submit: What’s the problem? Why are you mad and upset? Did the tenants get the better of you.......again?

Let’s get back to the reinvention of the wheel again. You’ve read my books, newsletters, and such, so you know what works. Permit me to remind you:

1. Eviction notices are given on the second. (No partial rents: “Pay entire amount in cash or money order or get some boxes”).

2. Evictions are filed on the day permitted.

3. Full rent and deposit is required in cash or money order before the lease is signed and keys are given.

4. First come, first served.

5. Only cash or money order holds an apartment.

6. No deals.

This is the procedure. How hard can it be? Why are landlords so spineless? Aren’t you sick of being at the brunt of tenants’ jokes. Get a grip on reality and do the right thing. Isn’t it about time that you enjoyed the success that I do?

My BMW convertible payment is $656.01 monthly. Consider that two rents would easily cover the payment. The two payments that you let slide or the balance of the four partial payments that you didn’t collect could have also made that payment! So, what’s the problem? Is it that you do not want to enjoy a quality life, or that you do not know what one is? I’ll bet neither. I contend that you are so locked into doing business a certain way that you just don’t want to change. To those I say: You’re ruining it for those of us who really run their real estate like a business. Remember, when I go to court, I’m not out a dime. That’s why I’m in a jovial mood and not locked into that poor mesyndrome that many investors find themselves. They cry out for compassion and advice, yet they are deaf to reason. One more thing, all the back rent that you suffered and your courtroom tantrums are so predictable. Admittedly, if I were to suffer such setbacks I would feel the same way too. But there is a difference between me and the masses. I have learned from my mistakes and refuse to keep learning from the same lessons over and over again. May I suggest that you forge a new future for yourself? You and I do hold the same vision. It is simply a matter of who will realize their dreams. You know the right way to conduct business. Simply you should conduct business like millions of other businessmen, yet you refuse to do so. When situations arise {there you go again} you reinvent the wheel knowing well that your changes have not worked in the past but hope that they will in the future. Indeed, real estate holds a whole range of problems. I insist that rent collection is the foundation for achieving financial independence. If this is flawed, it will be impossible to build upon and counter attack all of the other problems that are associated with real estate investing. Furthermore, my attitude is that all of the problems I encounter are minimized when I feel financially compensated enough. In other words, if I make enough money, I don’t mind the obstacle. In essence, the whole idea is to make a lot of money and constantly reduce obstacles. Conservative investing is my hallmark. In fact, what makes investing in the inner-city attractive to me is the ridiculous profit schedules. Having the rent collection down to a science is what makes me successful in these neighborhoods. Without my successful methods in the collection, found in my Streetwise book, it would not be a conservative investment.

Thank you for allowing me to remind you that all financial compassion should be reserved for family and friends, and groups that you choose to help in your spare time with excess funds. It must not in your business from where your existence and livelihood is derived. Permit me to remind you that real estate is a business, not a hobby.