Real Estate Investing:  Real Estate investing is fun and enjoyable to me.  However, tenants are always interesting.  The last tenants who gave their 30 day noticed had a dog and a cat.  They paid an extra $50.00 each month for their animals.  I always get $25.00 per animal.  Animals cause damage and you need to cover your cost.  Don’t feel bad about charging $25.00 or more per month for animals.  This is a business and the upkeep on the property has to come out of the income.  If you don’t charge for the animals you will once a tenant’s animals do damage to your property. 

I don’t want to deter anybody from Real Estate Investing because I love this business and intend to buy more properties in 2009.  However, we need to share stories with each other to learn what not to do so we can put more money into our pockets.

These 2 girls gave their 30 day noticed and assured me it would be available to show at 4:00pm.  I had a gut instinct so I ran over to look at the apartment prior to my showing.  I was flabbergasted when I walked into the unit.  The unit was in complete disarray!  With a note on the kitchen cupboard stating “The CARPET IS RUINED and needs to be replaced.”

More on Tomorrow’s blog on Real Estate Investing - Tenants:  Please write in your comments.  I would love to hear your thoughts on this situation.