Hello everyone. This is Juan Carlos Gastelum. I am a real estate investor in Texas. A few months ago, we did a video on a unit that we vacated through the court system and we actually brought in the constable to be able to recover possession of the property. Well, today November 18, 2022, we just got done with final repairs on the unit which actually was leased to a new tenant this November. However, when calculating the total losses based on just repairs on the unit, some pest control issues, loss of income because of vacancy, paying a realtor to lease out the property. Well, our total amount of lost on this unit, which was rented out for $1050 a month is actually close to $10,000. This is $9,198.60 of total losses, a huge impact on the return on an investment property. So, our tip for today is to carefully screen your tenants, you never know the amount of damage and indirect losses you can get from a bad tenant. Even though you may be able to get the property back quickly, a unit that has not been taken care of properly, related damages and other careless use of things like appliances can really hurt your investment. That’s it for now, take care, best wishes on your real estate journey and God bless!
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