What is some of the old stupid stuff you used to do back when you bought your first or second place? Back before you knew better!

On my first rental, a single family, I used to run up to this little house about 20 minutes away, during snow storms, and hand shovel the tenants driveway, and broom their cars off for them. They wouldn't even come out and say thanks.

Haha, what was I thinking?

I cringe to even say this....But with my first rental I didn't even have an application. Prospects would just tell me their names, I'd talk to them a little bit, then go on gut instinct. Hahahaha...That's so idiotic, it's funny!

Paulio, that's funny. I used to show the units to EVERYONE who called. I would go to the units and sit there for 45 minutes to an hour and wait for them. I'd call and call to see where they were.

I used to trust people.

At least I did have a good lease. However, screening

was by instinct and trust in people applying. Boy did

I learn a thing or two. People do not stand behind their

name they sign on paper anymore.

Bought in some class D neighborhoods.

Let people that just moved to town move in. They had the rent and where gonna get a job. LOL

Didn't checkout job references.

Work with deposit. Rented to roommates.

The stupid stuff I've done? Do you have all night?

I think the stupidest thing I did recently was back out of the commercial building this summer. It sold for $40,000 over what the bank offered it to me for.

I didn't really have a plan, it was just a good price. But the $1,700 a month electric for 8 months a year and limited parking scared me, and I'm getting older and don't plan to spend my final years here. I was afraid we be locked in for years.

But now I'm thinking I should have just flipped it.

Shouldda, wouldda, couldda.

On dealing with tenants...I believed sob stories and even lowered rent/forgave rent. I used to have such a bleeding heart.

As for dealing with the buildings...can't think of how many appliances I replaced for simple issues. For example, Window AC units not blowing cold air...thorough cleaning usually solves that.

--Met everyone who called and wanted to see the place. I wasted a lot of time waiting for no shows.

--had permits pulled for silly stuff like replacing a GFI

--didn't run a credit report because I thought it wasn't that important

Not properly screening

Not evicting soon enough

Not pursuing judgments/collections of money owed

I used to allow tenants to pull me into the drama of their often chaotic lives.

One example: I rented to an unmarried "couple" (teenagers hanging out for free sex) plus their guy friend/roommate. Within a few months, police had been called to the property twice. I spent over an hour on the phone one evening trying to work out with one tenant's MOM how the kids were going to pay rent....then later got a message that the roommate buy had trashed the place, stolen their sofa, threatened the girl physically, and ran out. Oi weh. I raced over there at 9:30 PM to find my unit trashed and cops inside. Yes, I evicted them shortly thereafter and all three have a big judgment on their record that probably won't ever get paid off. Ah well...10 years of having trashed credit will be a penance they'll never understand.

NEVER AGAIN!

All of the above...

I did have an application, one page, asked nothing of note. Useless beyond getting their name.

I had a one-page lease I copied from someone else, ditto.

I trusted my gut - people seemed so nice!

I *believed* them when they talked about how bad their former landlord was.

We bought our first houses in a questionable neighborhood that a few other landlords were working hard to "save"...the houses are old (1916-1920) "mill" houses; just the kind that I love.

The neighborhood is still trying to be "saved" and while some groups are still working hard at this, there are days where the druggies and prostitutes seem to be winning. When I get really discouraged about all of this I wonder if a can of gasoline and a match might not be the answer.

Listening to the lies.

Feeling sorry for them.

Wanting to help them.

Allowing their lying problems to become mine.

Listening to excuses (lies).

The biggest mistake I used to do was to rent out to friends, family and co-workers with no lease. I used to be such a nice guy always wanting to help the people around me. It backfired on me 100% of the time and with tons of damages that I never could get reimbursed for.

Where to start? Trusted tenant to catch up on rent. They were 30 days behind. I did get the rent but that won't happen again.

Thought that when you buy in the hood and fix a place up nice you can rent it for more than the guy was renting it to anyone with half of first month's rent. Found out that people with good credit don't want to live in the hood and those that do are looking for a bargain. Meant renting for $400 per month vs $600 per month. It was a 4 unit building. That hurt.

On a side note, I have a buddy who doesn't screen at all, has a junk lease and never has any problems. Some of the stuff he does scares the crap out of me, but he pulls it off. I wouldn't be able to do it like he does.

On a side note, I have a buddy who doesn't screen at all, has a junk lease and never has any problems. Some of the stuff he does scares the crap out of me, but he pulls it off. I wouldn't be able to do it like he does.

On a side note, I have a buddy who doesn't screen at all, has a junk lease and never has any problems. Some of the stuff he does scares the crap out of me, but he pulls it off. I wouldn't be able to do it like he does.

Answering the phone instead of letting all calls go to voicemail.

Trusting contractors enough to give them a cash advance or letting them pick up supplies that I bought.

Renting to friends and/or family. Although - the "friend" kind of helped us get the place into shape ... it became more of a "you help us, we help you" situation ... the "problem" became when the friend left and the kid stayed. Kind of got "screwed" with a few things.

Long story ... anyway - family the same way - one moved out and the other moved in (without notice) - again, long story. Funny thing is that I'm the one that is the "bad guy" in it all - oh well.

I bought a triplex and moved into one unit. The second unit was empty and needed repairs the third place was a small 1 BR that had a long term tenant. Since he had been there for 15 plus years before I bought the place, I never got an application from him since it would be rude........well five years latter, the tenant died and he didn't have any record of a next of kin except his dog.

I'll never make that mistake again.