Why am I a desperate landlord? Because since buying a multi family home, I strived to be an effective landlord but often found myself ill equipped in a state that coddled tenants while giving landlords swift kicks. I quickly discovered that landlords were the underdogs running in place. A tenant complains and massive support is given, a landlord complains and they have to meet a compelling burden of proof. No, I’m not whining. I willingly signed up to be a landlord but after being in the game for a while, I totally understand why many throw in the towel. And throughout my years of being a landlord, I kept meeting other landlords who were really naive or at the end of their rope. Either way it wasn’t working for them.
My parents owned a multi family property and we lived in one of the units, so I grew up watching them deal with the nuances that came with managing tenants. When I decided buy a house, I knew it would be a multi-family, so I set out to learn all I could about property ownership and amassed a great deal regarding effective tenant management. My parents modeled for me the importance of compassion and understanding that tenants are real people whom life can happen to. But I have also learned from successful real estate investors that my multifamily house isn’t a home, it’s a business. And I keep that truth always within my peripheral vision as I sit at the helm of property ownership. This truth impacts my vision and chases away emotional decisions. Nope, I haven’t made all the right choices but what I’ve learned has kept me from falling into ditches too deep to dig out of. And it’s those choices and lessons I aim to share with you. For me this isn’t a blog but a living document that can only evolve with your thoughts, war stories and personal experiences. And ultimately learning to be a more informed and effective landlord where your multifamily is no longer a detriment but a joy.