My tenant just destroyed my $700,000 property

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임대 관리 실패 사례를 과장된 코미디 형식으로 소개한 4월 1일 만우절 영상. 세입자 신용조회 생략, 임대보증금 횡령, 과도한 임대료 감면 등으로 부동산 손실이 났다는 내용이나 실제 사건이 아닌 만우절 콘텐츠이며, 결말에 부동산 투자 강의 할인 홍보가 붙어 있다. 증권 자산에 대한 가격 방향 예측 발언은 없다.

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01. Holy smokes, I do not know where to begin here. We um we just lost about $400,000 on a 700 $700,000 property getting screwed by our tenant. I I really owe it to you to have some background so that hopefully this never happens to you. So, look, here's a little bit of background. 2018, I I I made some pretty rough business decisions.

02. You know, we were running a construction company, we were developing apps, and at the same time I wasn't spending as much time as I should have you know, been spending with my 2 and 1/2-year-old son Jack, while especially Lauren was pregnant with our second Max. And uh I ended up spending so little time with the little guy that he'd come over to me and go, "Hey Grandpa, you want to see this?" And I'd have to tell him, "I'm not Grandpa, I'm Dad." That's because he was spending so much time with Grandpa.

03. Anyway, it was around uh you know, early 2018, around the time Max was born, end of 2017, that Lauren approached me and said, "You know, Kevin, I can't handle the property management, the bill pay, the accounting, everything for everything that it is we do while raising two children. I need you to take over.

04. And you know, as is typical, I uh I may have responded with what the You just need me to go collect the checks? That's property management? No problem. I'll do all of it. It's all good. Don't worry, I got it handled. Yeah. One of the first things I started doing was pulling out debt against all the properties we owned because I thought, "Ah, you know, if we own 10 properties, why not just leverage up and get to 15 properties or 20 properties where we are, you know?

05. Why not? Now, I got uh I got a bunch of traveling going on. Doesn't really matter anyway. They're just tenants. Come on. Just how hard could it be? Just park the tenants, collect the rent check. It's done. And um That's when I slowly uh through 2018 started realizing what uh tenants really require of you, you know, um that is uh I started uh I started giving rent abatements to some of our tenants that had issues.

06. Pretty much anytime an issue would come up, I would just say, "Take it out of the rent. Don't worry. Just take it out of the rent." Yeah, cuz I I um I didn't really value the uh income we were getting from rent. And so, sure enough, when it came time to rent the $700,000 property, I uh I just thought, "Ah, whatever.

07. I'll just do what Lauren does. I'm sure all she does is just throw it up on Craigslist and put a sign in the yard." Like, "What more could there be? That's it. What more could there be?" And so, I uh you know, I I posted the property and then uh you know, I showed I ended up showing the property pretty quickly, you know.

08. I'm pretty good about setting up appointments fast, you know. So, I set up an appointment and uh we uh we we ended up finding these tenants uh Nikola and Ivan. Great people. Very very great people. They uh you know, had a a freshly washed car. They had jobs in Bulgaria. In fact, they were mostly just living off their cash flow from investing in multi-family real estate.

09. And initially, I thought, "Ah, that's you know, that's a little odd." I mean, a A of people can't actually subsist off cash flow from multi-family real estate, but hey, you know what? Maybe good for you guys in Bulgaria. I mean, what do I know? And so, you know, I wanted to run their credit because I knew that was one of the things on Lauren's checklist.

10. You know, she said, "Always run their credit." But, you know, I mean, they um they were from Bulgaria. They didn't have I mean, I don't think they had any credit established in the United States. I mean, it'd be a waste of the $40 to run their credit. I mean, why why would I spend an extra $40 if I I'm just going to find out what I already know, that they're from Bulgaria.

11. Big deal, you know? What Why why bother? So, uh you know, I just pocketed their uh rental application fee. You know, Lauren didn't need to know that. I just uh you know, $40 per person. I just pocketed that. That's 80 bucks. You know, I thought I could probably go uh you know, buy a bottle of wine or two with uh with that $80.

12. So, uh and I mean, these people are investing in cash-flowing real estate. You know, I looked at their car, and I'm like, "Ah, car looks uh pretty spotless." You know, I mean, you know the other thing about the cars, right? You look in the car, and it's a mold, and you know this person's a stressed-out human being.

13. They can't even keep their car clean. You look inside the car, and you go, "Ah, wow, they got a filing cabinet up front. This guy's going to be a hole." You'd be better off getting the guy that's got nothing in the car than the guy that's too organized or the guy that's uh too lackadaisical. You know, you know what I'm saying?

14. So, um anyway, um you know, they they they really connected with me. Yeah, they were discriminated against because of their accents. I guess they're from a different part of Bulgaria. And then, they came out here from the United States, and the discrimination was worse. And it really uh you know, it hit a chord with me because back when I was in kindergarten, I uh I I used to you know, I used to get called on, and I'd respond with something like, "Ho- Hold on, I'm sinking.

15. I'm sinking." And all the kids make fun of me and say, "You're not sinking. You're not sinking. You're thinking." And I, you know, the th is actually a surprisingly hard letter combination in Germany. Uh you know, I mean I was born in Germany. My entire family's German. I mean, that's just just what it is, you know.

16. Ancestry DNA says I'm even part Jewish. So, I don't I don't know. I don't understand it all. But anyway, um I just couldn't fathom the idea of having to deal with unprofessional, unsophisticated tenants. So, I thought, "You know what? Nikola here and Ivan, you know what? You got the deal. Just give me first month and security.

17. Perfect. That's $5,600. Not really supposed to commingle that with the other businesses." I did anyway, but you know, don't tell the IRS about that part, all right? You know, let's just keep that um Let's keep that a little separate, okay? I just wanted somebody that wasn't going to call me all the freaking time.

18. It turns out that Nikola and Ivan ended up watching a Samuel Leeds video that went viral a few months ago on how to rent to rent. And basically, they rented my place for $2,800 and then rented each of the four bedrooms we had available to four separate tenants, one of them being a drug dealer and the other people apparently all being his minions.

19. That you know, it's that went pretty far. And I mean, I'm not talking about you know, marijuana. That stuff's legal out here. I'm talking about PCP, cocaine, heroin, methamphetamines. Do you know that every time you need to rent out a property and it's been contaminated by methamphetamines or you need to go to sell, you need to disclose it in bold face typed font on a separate form?

20. You're screwed market value-wise if you're buying a meth house, folks. I really Okay. When we finally got these people out, and I mean you can see the pictures here of the stove, the the plumbing, uh you know, the condition of the property, the stuff they left in the property, the bedrooms, the yard, the furnace, the bathrooms.

21. It's just There's There's no stone not unturned here. And uh It's starting to look like we're going to have to sell the rest of our properties. It's been part of the negotiation with uh Lauren's attorneys. Now uh she says that if I'm not fit to manage rental property, I'm not fit to be a dad, so she wants to divorce me.

22. There's so many attorney fees involved in that, too. It's just It's just It's just all bad. Played out. There is a sil- There is a silver lining in this, and it don't mean uh you know, the silver spoon lining that that we saw that was covered in charred heroin. I mean uh you know, a good silver lining.

23. And uh April Fools! You really think I was going to drink wine and not screen my tenants? Are you kidding me? It's the first thing we teach in the real estate investing course, screen your tenants. And as a special offer for the next 2 days, we're going to offer, because you made it to the end of this video, 19% off the real estate investing course if you use code April Fools 19, you will get 19% off.

24. Folks, thank you so much for being here. Of course, this did not actually happen. April Fools. But hopefully it gave you a little bit of insight into always screen your tenants. Always run credit. Don't care where they're from. If you want to learn more, join the real estate investing course. Folks, thank you so much for being here.

25. And if you have questions, hit me up as a direct message on Instagram, and I'll do my best to get back to you. Thanks so much. Talk to you soon.