Hypothetically You Invested

Let's just pretend you took the plunge and invested in real estate. Paint that picture in your head. You now own a 4 plex and its fully rented...

Okay now your thinking about it, so what happens now? You own a 4 plex and the cash is rolling in... You need to keep in mind things happen. Tenants break stuff, don't pay, skip town, commit crimes, and sometimes can die inside your unit. It is after all your unit, and they are simply paying for the right to be in it.

Hypothetically lets say your renter stops paying you rent, what do you do now? Well a few things need to be thought about/considered.

The tenant is stealing money from your bank account. You wouldn’t let your neighbor, friend, or even your own family gain access to your checking account and remove hundreds of dollars against your will. So why would you allow a stranger to do so? Thats exactly what they are doing by not paying you... stealing your money.

Evicting someone is very very specific to your state. In other words, how to evict a tenant in your state may vary from the next. The entire eviction process is governed by the rules and laws of each individual state. So everything below about how to evict a tenant is just general practice. Specific days and dates will require you to do a little research into your state’s landlord-tenant laws.This is something you need to do on your own. Hire a lawyer, go down to city hall.... figure it out.

How not to evicit someone property:

Don’t change the locks. 

Don’t remove the windows and doors. 

Don’t shut off their utilities. 

Don’t take their stuff.

At the end of the day you need to remember they are likely more scared of you then you are of them. Its your building and they owe you money. Just remember putting yourself in their shoes, don't be unreasonable. They probably do want to pay you, but just don't know how they can on time.