The Successful Landlord Blog

So, recently I was given the opportunity to read a new book which I thought was appropriate for the current real estate market climate. The book, called The Make Money On Foreclosures Answer Book was written by one Denise L Evans, Attorney-at-law.

Ms. Evans goes into quite a lot of necessary detail regarding the purchase of properties at various stages of foreclosure. She is clear and to-the-point about many misconceptions the general public has about buying properties in foreclosure.

One point that bears repeating, is that properties advertised for sale as “foreclosures” are typically listed at or very near market prices. This is due to the fact that the bank holding the mortgage lists the property for the appraised value or a value based on a broker price opinion (BPO).

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The other day I was looking at one of my bookshelves and realized that I have read an inordinate number of books on real estate investing, being a landlord and the legal issues surrounding the same, when I was preparing to invest in real estate.

So I set up a bookstore to feature these books. Most of the books in the bookstore, I have found to be quite helpful and informative. I should note, however, that certain books I’ve read on the subject, namely those written by Robert Kiyosaki of Rich Dad Poor Dad fame, I DO NOT recommend as I have found them to be over simplified and not very true-to-life.

In fact, the only book of his that I recommend is Rich Dad Poor Dad mostly because of the “cashflow quadrant” device he uses to explain why you usually can’t get rich working as an employee for someone else.

If anyone has any suggestions for additions, please let me know and I’ll consider adding them to the list.

So, I’ve been dealing with one of my tenants who a) bounced a rent check last month and, b) thinks that she can bullshit me into giving her more time to pay.

It seems that some people tend to live their life like they are in a different time-space continuum from the rest of us. Little does she realize that the proverbial “meter” is running in my time-space continuum and two days from now I’m going to file eviction papers on her.

I mean, why people why, let things get this far along? Between the worthless check charges, time sitting in jail and the eviction, this lady will probably never be able to pay everything.

I just don’t understand the thought process sometimes. And I know the economy is hard right now but COME ON people! Prioritize!