Some properties just seem to have a dark cloud over them. We purchased and renovated a nice home in Cheektowaga last year. We were unable to flip it and so after dropping $16k in holding costs we rented it out. Meanwhile the loan interest rate ran up from 7.9% to 11.1% and makes the property a money loser every month.
We thought we found some great tenants for the property, but 3 months ago they started paying late. Last month I payed a visit to them on the 10th and the husband said that his wife had the check and they would drop it off as soon as she got home from work. Well, I didn't get the check until the 20th.
Now in June it's the 24th and still no check. I went over to the property last night since both their phone numbers are all out of service. The lawn hasn't been mowed for a month and the inside looks like a disaster. There was a notice on the door from a Rent to Own company. I called the number and the store manager told me that they wanted to pick up some appliances since the tenants told them they were moving to Illinois!
I talked to the lady next door and she told me she had seen the tenants within the past 2 days. I tracked down another phone number for the husband through his employer. As soon as he answered and I told him who I was he hung up. Minutes later his wife called to tell me she was in a hospital in Illinois due to a heart attack (she's in her thirties) and couldn't talk because she had a tube in her mouth! This is too rich. Her husband makes his sick wife who has tubes down her throat call me rather than telling me she is sick??? (and she wanted to know how the #?!% I had gotten her brothers phone number?)
Of course, the wife told me they will pay the rent - the check is in the mail