I think I do a pretty good job screening tenants which is what allows me to have some success at real estate investing. But as a client asked the other day, “You make it all sound like a bed of roses. Are there any problems with real estate investing?”
Oh, yes. If expenses are unusually high for whatever reason, that’s difficult. If you end up with an unusually long vacancy, that’s difficult. If your tenants checks out well, performs great the first month or two and then turns into a difficult tenant, that is definitely difficult.
Performing great for a month or two and then turning difficult has happened recently both to me and a client of mine. By difficult I mean late/incomplete payments by my tenant and unreasonable repair demands by my tenant’s client.
No. Real estate investing in Kansas City or anywhere is not all roses. It’s definitely worth it in the long run. But sometimes you ask yourself “Why am I doing this?”