Current Goal: Eliminate Mortgage on Rental Property
January 1, 2019: $59,592
May 25, 2020: $49,531
2/14/20 paid $750 towards principal
3/20/20 paid $1000 towards principal
4/17/20 paid $1000 towards principal
5/5/20 paid $2000 towards principal
Thursday, July 25
I am in Atlanta today, wrapping up a dealer service/hotel/gas station mystery shopping route. But later this morning I have to make a trip into Birmingham. I wanted to go anyway to see the repairs my handyman has made to Townhouse #2. Now I have to bring a 7 Day Notice to post on Townhouse #3.
I have been too lenient, that's for sure. This tenant still owes part of his May rent. His May rent check, which wasn't even paid until the first of July, bounced. He gave me $300 towards that but that is the last I heard. Now he isn't even answering the phone when I call.
I know being a landlord has its ups and downs, but I never imagined all this would happen at once. In the 11 months that I have been in Florida, I have had three evictions, two tenant deaths, and one clean move out/move in. That's 6 "situations" out of my 10 Birmingham-area properties. I have another tenant (let's call her Townhouse #4) who is making regular rent deposits but falls a little more behind every month. Right now the decision is easy - I can't take on another eviction right now, especially when there is at least some effort involved in the tenant trying to stay.