Where do you want to be?

This week I am learning how to do an eviction. Working at Bridgepoint Investment Group, I’ve been fortunate to learn the many different aspects of being a realtor, property manager, & investor. Unfortunately, one of those lessons is how to follow through with an eviction when the tenant falls behind on their rent payments. Here are the simple steps. I recommend you consult your local officials and an attorney for the exact steps in your area.

1. Send a 30-day notice to the tenant
2. File an eviction with the local court
3. After the tenant has received eviction papers, they will have a chance to answer in the form the court asks for their answer.
4. If the tenant doesn’t answer, the court will file it as a default judgment in favor of the landlord.
5. If the tenant does answer with a valid defense, a hearing or trial will be set.
6. If the court rules that the landlord can evict the tenant, a sheriff will post a notice on the tenant’s door giving a deadline when they have to move out.
7. On that date, the sheriff will show up and make sure that the tenants and their belongings are moved out (set on the curb).

Everyone really loses during this process. The tenant has fallen behind on their rent payments because they’re having financial difficulties. The investor loses income from their property in forms of rent, unnecessary repairs, and re-listing fees. The property manager (whether it be the owner or someone else), has to take the time to go through the eviction procedures and then prepare the unit to be re-listed and find new tenants spending valuable time that could be spent elsewhere. This week I witnessed the Sheriff going to a property to make sure the tenants’ belongings were moved out and going to the court to see an eviction trial. The textbook/paper learning becomes real life when you witness it first hand.

On a lighter note… I want to share with you about another event where you can be a real estate newbie alongside me. Just in case you missed the first one last month, see the feature story by clicking on the item to the right "News8Austin Newstory" where I was interviewed by Heidi Zhou of News8Austin. I’m also part of an active Investors community here in Austin, TX. We’re having a private 2-day Real Estate Investment Intensive/Workshop next Friday-Saturday, July 25-26^th from 9-5 PM each day. We have three speakers lined up to teach us wholesaling, creative financing, and how to buy properties with no money down/no credit. I think this is important information for both seasoned investors, real estate newbies, and first time home buyers. With the current “mortgage crisis”, it’s getting more difficult to finance a property through the traditional methods. I am definitely attending and as a member have been allowed to refer a select number of guests (ticket valued at $3500) to attend. If you’re interested in coming and joining me there, request a ticket here with your name, phone #, and email address, and you will be put on the guest list. Event details are found here. Just so you know, this event is not one of those where you go, they have products in the back, and they keep trying to up sell you the whole time instead of giving you quality information. This literally will be full content-packed days that attendees will be able to walk out of the room making deals. It’s one of the benefits I get for being a member. So I hope you don’t ever have to do an eviction and if you do you know exactly what to do and I also hope to see you next weekend at the Real Estate Investment Workshop here in Austin, TX!

Here’s to Education, Wealth, and Freedom! – Flower De Raadt

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