“I don’t want to be a landlord. It would suck getting a call in the middle of the night that the toilet is leaking.”
That’s what we hear from our non-investor friends and families. It always seems like a great excuse for them to avoid pulling the trigger on buying a property.
There is a grain of truth to it though. Besides receiving the rent on time, landlords want two things:
- Tenants who never bother them.
- Zero expenses for their property.
Leaky toilets can ruin both of those things.
When toilets don’t work, tenants will let you know right away. I think indoor plumbing is on that ‘Maslow hierarchy of needs’ psychology stuff. Then, once they let you know, you have to either drag your butt out to snake it, or hire a plumber at $80-$120/hour to snake it for you.
Oh, and I mention your utility bills. If you’re…
JP Moses
is a real estate investor in Memphis, TN, with experience ranging from land lording to note buying, rehabbing, and wholesaling. However, wholesaling is the area that he enjoys most and where he bring the most experience and expertise to his students.