When the first words out of someone's mouth are
"I just don't want to get screwed again . . ."
you KNOW 'esh a mumu' . . .
Oh, these poor, poor people.
They came to one of my lease offerings with a sob story . . . they had bought this wonderful property in a neighboring county and the former owner somehow stole it back from them.
Okay. Sad. But beyond my paygrade.
We want this property. OK. We sign a lease.
Right off the bat . . . they arrive without deposit and rent. Uhhh, we can't give you keys without the money. Well the money's in Vegas . . . well go the heck to Vegas and GET IT!
They do, and so it begins.
They tell me that to do what they want to do at the property, they need to have the parking lot resurfaced per City. "We'd like to do this on our dime and have the landlord give us rent credit monthly for a year . . . "
I tell the owner, NO! It is better if YOU do it and they pay rent! This is a bad idea and they already tingled my Spidey senses not showing up with money at signing in the first place.
Owner said no, that would work for me as he is improving my property and I am showing no income for a year . . . Okay, it's his property.
Tenant produces contract with paver with a payment arrangement. OK . . . but I want copies of those checks to provide owner as proof of you keeping up your end of the deal.
Every month for 14 months I get a copy of a check . . . but no work is being done. And every month it is "Oh, John is on his honeymoon, John is out of the country, John is sick but we're starting next week."
We finally get sick of it and contact John. Tenant never paid him a dime and that's why the work never began! Tenant was sending me copies of checks but then never paying the paver!
OK owner, we need to evict them. Owner says no . . . we need to sell to him! I will carry the note, I want (large down) and we will tell him either buy the building at our price or out. Again I tell owner noooooo he will default. "Fine, I will get my money for the rent he didn't pay me and sell it to someone else."
And that's exactly what happened. BUT NOT UNTIL just before we were getting ready to close, there was a mysterious FIRE at the property. LOL yep, and investigators found it 'suspicious but inconclusive'. Insurance remediated and restored, and the 'now buyer' wanted the insurance money so HE could do the work (he was a contractor BTW) and we all said NO WAY! LOL
It did close with the buyer, he paid payments for a year, then defaulted. Owner got all his money and then some, sold it to someone else who is happily ever after along with the owner.
And we learned that the previous property out of town . . . that seller didn't steal it back. They defaulted on that one too!
This was all over the course of 2 years.
So when they lead with a sob story . . . just know that it will be the gift that keeps on giving!