Dear Property Owner:

When bad things happen, it forces us to either accept it or hide our heads in the sand. After we pull our heads out, however, we start looking for someone to blame.

Today, a foreclosure notice was taped to your property’s front door. I am trying to calm down your upset tenant. I have to tell them that I am no longer managing the property because I have to turn everything over to a Court Commissioner. I also have to deal with the City which has arrived at the property looking for payment on the delinquent property taxes and/or the Homeowner’s Association which wants to collect the maintenance fees.

And for some reason, you have decided this is all MY fault?

You paid too much for this property and you didn’t consult with a Property Manager before you bought it. You believed all the crap your Sales Agent handed you about how it will appreciate tenfold in the next few years, this area is a gold mine, the new hotels will bring more business out here, yadda, yadda, yadda.

You had no business becoming an investor in the first place.  You had to struggle to make your payments every month. You tortured my staff with your constant ridiculous demands.

So you finally gave up and stopped paying your mortgage months ago. You have been pocketing all the rent money without paying out a dime. You never said a word to us.  Now you’re angry that the monthly checks will stop and the fun is over.

You are now accusing ME of purposely driving down the market. Are you serious?

I understand you are upset. After all, you will no longer be getting that big rent check every month. But the Property Manager is not to blame.

Find a new hobby.   Real estate investing is not for you.

🔑 Consult with a reputable property management company before purchasing any property that you intend to rent.