QUESTION: I want to invest in real estate but I don’t think I’d make a good landlord. I think I’m really too soft-hearted to deal with tenants. Are there some people not cut out for real estate investing?
ANSWER: Many people never get beyond the thinking stage because of this exact fear of becoming a landlord. They envision taking poor families to court and having to answer maintenance calls in the middle of the night.
Who are tenants? They’re folks just like you and me. Tenants come from every social strata and from every job and profession. Tenants are doctors, lawyers, factory workers and waitresses. Everyone is a prospective tenant. Choosing to become a tenant may be a life style decision rather than a purely economic decision.
Remember, the overwhelming majority of tenants take a pride in their [your] apartments which are their homes.
Your relationship with your tenants is on a professional basis. If giving back a little, which means being a “softie,” which means taking good care of your tenants and property, you will be an excellent landlord with many long term tenants.
