On People's Priorities

[Ben]

So my dad got a call from one of his tenants. The tenant gave him the rent check yesterday (late). Today he called my dad asking him if he couldn't wait a week to deposit it. Why? He just bought $1500 of football gear for his 8 year old son. Also they're going to Disneyland this weekend. So yeah, that roof over your head shouldn't be a higher priority than that stuff, right? At least the guy was honest I guess.

While griping to me, my dad told me this guy is always complaining about how he wishes he had the money to buy a house.  

Of course the guy called my dad right after he deposited the check, so an extra trip into town after the check bounces. They really need to have some kind of mandatory "basic life skills and common sense" classes in High School.

[grampster]

"They really need to have some kind of mandatory "basic life skills and common sense" classes in High School."

The DemoProgs would never, ever stand for that.  Too much edumacation is bad for control.

[lupinus]

This.....this *expletive deleted*it is why I have no interest in ever being a landlord....

Kids hospital bill, car broke, hell dog needed the emergency vet....ok sure if otherwise good tenants.

But some *expletive deleted*it like that there's no way my response would have been, ahem, subtle.

Sent from my Pixel XL using Tapatalk

[Devonai]

On the bright side, a football helmet will keep the rain off your head if you have to live in the woods.

[Cliffh]

This.....this *expletive deleted*it is why I have no interest in ever being a landlord....

Kids hospital bill, car broke, hell dog needed the emergency vet....ok sure if otherwise good tenants.

But some *expletive deleted*it like that there's no way my response would have been, ahem, subtle.

Sent from my Pixel XL using Tapatalk

Same here.  Many times I've been where I could have purchased a rental, then figured the tenants wouldn't stick around long after I called them on their BS.

[BlueStarLizzard]

Having helped clean up some apartments after angry tenants moved out...

I don't think the BS about why someone's rent is not paid on time is likely to be the worst part of being landlord.

[KD5NRH]

So my dad got a call from one of his tenants. The tenant gave him the rent check yesterday (late). Today he called my dad asking him if he couldn't wait a week to deposit it. Why? He just bought $1500 of football gear for his 8 year old son. Also they're going to Disneyland this weekend. So yeah, that roof over your head shouldn't be a higher priority than that stuff, right? At least the guy was honest I guess.

8 year old getting that much in football gear?  Even here, they only play flag until at least junior high.

Disneyland, I can see; that may be a once in a lifetime opportunity for the kid, and probably planned months in advance.  Then some unexpected expense comes up, and you don't want to be explaining to a kid that age why you're not going on the promised trip.  OTOH, choosing between football gear and Disney for this year might be a better plan than spending the rent.

Still, the thing to do would have been to ask in advance if he could post date the check by a week.  Assuming he normally makes a better effort to pay on time, I think most of the landlords I've had would work with him on it.

[grampster]

I thought about buying rental property when I was I my late 30's.  Fortunately a good friend who was a realtor talked me out of it.  He said I was not ruthless enough to be a landlord.  So, I didn't get involved.  Glad I didn't.

[Ben]

I was actually pretty lucky in my 25 or so years of landlording. I think I had two tenants that screwed me for both rent and significant damage (one of them turned the bathtub on and moved without saying anything). Then I was screwed out of some rent a few more times after that, and of course the trips to the dump when tenants moved out and left half their crap behind.

Otherwise, most of my tenants were long term and took care of things. Of course I generally charged a bit under market rents and had a "don't bother me and I won't bother you" policy, which seemed to encourage the tenants to both stay longer and take care of little stuff on their own.

Same with my dad, though he's been doing it for over 50 years, and I've been slowly getting him to sell his rentals and get out of it. He just has two left now. The last rental house he sold, the tenant was furious at having to vacate and left a big mess. Not to mention purple walls and other crap that yours truly had to take care of. On the bright side, I found a decent sized pill stash behind the oven vent. Don't know what they were, other than most likely illegal, but I had a big smile on my face when I flushed them down the toilet. 

It was good to do when I was younger and getting good tax breaks, etc., but now I just don't have the patience for it anymore, especially with how CA is going on regulation. It's just way easier to keep the money in Vanguard and take dividends instead of rent. Kind of going Galt out of rentals. :)

[Ben]

Disneyland, I can see; that may be a once in a lifetime opportunity for the kid, and probably planned months in advance.

Not really. Disneyland is only a few hours away from them. They seem to go all the time.

[KD5NRH]

Not to mention purple walls and other crap that yours truly had to take care of.

Last landlord included a couple cans of paint (that he'd picked up at deep discount prices) with each rental and encouraged tenants to paint the walls however they wanted.  I think he figured with the number of stoners and/or college kids that would do it anyway, he might as well advertise "make it your own" as a feature.

I painted over the murals from 2-3 tenants back, and went with a reasonably subtle Alamo at sunrise silhouette on the same dark green that had been there before.

Not really. Disneyland is only a few hours away from them. They seem to go all the time.

That's a bit different, then, though I'd likely still take into consideration if it's a special occasion other than just something to do before school starts.

[T.O.M.]

I'm related to one of those.  Back when my mother died, my brother and I each inherited $15K from an insurance policy, and another $60K or so after the estate closed.   Brother and SIL were entering the foreclosure process on their house.  What to do with the money...they spent $18K on a deck and patio on that house, and another $10K on a trip to Orlando and the amusement parks.  Yeah, they lost the house,  but the new owner has a really nice deck.  (Insert joke about SILs nicole tattoo here, it's probably true.)

[KD5NRH]

I'm related to one of those.  Back when my mother died, my brother and I each inherited $15K from an insurance policy, and another $60K or so after the estate closed.   Brother and SIL were entering the foreclosure process on their house.  What to do with the money...they spent $18K on a deck and patio on that house, and another $10K on a trip to Orlando and the amusement parks.  Yeah, they lost the house,  but the new owner has a really nice deck.  (Insert joke about SILs nicole tattoo here, it's probably true.)

Watch any of the repo guy vlogs on YouTube and count how many cars they pick up with aftermarket rims and stereos that cost enough to pay off the car.

[Ben]

Watch any of the repo guy vlogs on YouTube and count how many cars they pick up with aftermarket rims and stereos that cost enough to pay off the car.

It always amazes me, when I drive through the bad part of town, how many vehicles have rims that cost about five times what I would consider prudent, or even luxurious, for myself.

[MechAg94]

I'm related to one of those.  Back when my mother died, my brother and I each inherited $15K from an insurance policy, and another $60K or so after the estate closed.   Brother and SIL were entering the foreclosure process on their house.  What to do with the money...they spent $18K on a deck and patio on that house, and another $10K on a trip to Orlando and the amusement parks.  Yeah, they lost the house,  but the new owner has a really nice deck.  (Insert joke about SILs nicole tattoo here, it's probably true.)

Sometimes I think I am too impulsive on buying new guns.  Then I hear stories like this and realize my impulsiveness is minor.  I can pay my bills.

[K Frame]

I'm related to one of those.  Back when my mother died, my brother and I each inherited $15K from an insurance policy, and another $60K or so after the estate closed.   Brother and SIL were entering the foreclosure process on their house.  What to do with the money...they spent $18K on a deck and patio on that house, and another $10K on a trip to Orlando and the amusement parks.  Yeah, they lost the house,  but the new owner has a really nice deck.  (Insert joke about SILs nicole tattoo here, it's probably true.)

How is your beloved sister in law these days?

 



Your stories about how your brother and SIL handle money are as shocking as they are saddening. Their money handling choices are just... well, there really aren't adequate descriptive terms.

[K Frame]

Sometimes I think I am too impulsive on buying new guns.  Then I hear stories like this and realize my impulsiveness is minor.  I can pay my bills.

BINGO.

I've impulse purchased many guns over the years. I often beat myself up about it, but at the end of the day, I'm funding my retirement savings, I pay all of my bills every month, I put additional money into my savings, and I have a nice cushion in case of emergencies.

I can buy a gun occasionally.

[dogmush]

BINGO.

I've impulse purchased many guns over the years. I often beat myself up about it, but at the end of the day, I'm funding my retirement savings, I pay all of my bills every money, I put additional money into my savings, and I have a nice cushion in case of emergencies.

I can buy a gun occasionally.

Bourgeoisie 1%'er.  you need to give back to the people that can't even afford a roof over their heads. Stop Hoarding wealth!*






*Did I get that right?  I'm practicing to fit in on the next in-law visit.

[K Frame]

Bourgeoisie 1%'er.  you need to give back to the people that can't even afford a roof over their heads. Stop Hoarding wealth!*






*Did I get that right?  I'm practicing to fit in on the next in-law visit.

I've thoroughly examined my privilege.

It's pretty *expletive deleted*ing awesome.

[Brad Johnson]

Of course the guy called my dad right after he deposited the check, so an extra trip into town after the check bounces. They really need to have some kind of mandatory "basic life skills and common sense" classes in High School.

They used to. It was called Home Economics.

Brad

[K Frame]

Bourgeoisie 1%'er.  you need to give back to the people that can't even afford a roof over their heads. Stop Hoarding wealth!*






*Did I get that right?  I'm practicing to fit in on the next in-law visit.

[K Frame]

Home Economics AND Civics.

I had to take both in my high school.

We had to do things in Civics like balance checkbooks and do tax returns.

[lupinus]

They used to. It was called Home Economics.

Brad

All I did in home ec was learn how to make a whale pillow.

Sent from my Pixel XL using Tapatalk

[Brad Johnson]

All I did in home ec was learn how to make a whale pillow.

Sent from my Pixel XL using Tapatalk

Why would a whale need a pillow?

Brad

[lupinus]

Why would a whale need a pillow?

Brad

Cause using home ec to teach anything useful would have been to complicated

Sent from my Pixel XL using Tapatalk