Home > Information > Burned Out Landlord shares his frustration….. (that many others can relate to)

Burned Out Landlord shares his frustration….. (that many others can relate to)

“After nearly 30 years of buying, rehabbing and renting places..and mostly working ft. I think I’ve finally burned out. I no longer have the nerves to deal with a rapid decline in the tenant pool, so called handymen and the paperwork associated with running rentals. Instead of enjoying weekends with the family I’m busy chasing down rent, workers, and shabby work. I never thought Id get to this point but I guess eventually everyone does. I see my kids getting big and I’m missing out on it. My health is going down hill as I age and this business surely keeps you on edge.
 
No matter how good of screening I do there seems to be another tenant that just doesn’t care what a lease says or a handyman who can fix it all but can’t organize his day without 3 hour interruptions. My office is full of worthless judgments on tenants who have nothing. Don’t get me wrong not all properties are this way but I seem to get the whisper down the alley affect where several move out without notice all within the same week all around heat season.
 
Recently I found out that roofers/contractors that HAVE insurance ALL have a workmanship waiver…meaning the insurance doesn’t cover bad work…so 3 ceiling leaks later and another 2k from another roofer has just gotten to me. I’ve been sick for 2.5 weeks mostly due to this all and my wife tells me I’ve checked out. Hell I’ve even missed my 20 yr anniversary….This time I think Im done…as my mother says what good is the money if you won’t live to enjoy it…. Mike
 
My response: Mike, I hear you loud and clear. In fact, it honestly hurts me to hear all your frustration and heartache. I too hit that point early on in my landlording career, and I started making changes and have been making changes every year ever since. ALL your challenges mentioned CAN be overcome, IF you are willing to stop putting the blame on the tenant pool and so called handymen. The truth is Mike, that YOU are the one that needs to change and improve.
 
It does NOT have to be the way that it is. The reason why I say it hurts to hear your frustrations, because I know that things could be different and I have helped countless landlords over the years completely turn their dire situation around by making changes to their management approach in various key areas. I’m going to assume you have not been to one of my trainings. If you have, I’d be surprised because based on the way you share of your frustrations goes so counter to the management approach I teach. I put the challenge out to you. Come to my upcoming boot camp. I sincerely want to offer you help. If afterwards you do the management changes I suggest, and you still feel the same, I’ll give you double your money back
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