Real Estate Drama

I am having a tough time becoming the next Donald Trump. How do you guys maintain cash flow without help or a lot of luck? I am too nice of a person. I choose the wrong tenant to give another chance. I have to morph into Leona Helmsley.

I have one house in Newport News, VA that I am preparing for some relatives who are Katrina survivors to live in; a condo in Hyattsville, MD that I am in the process of evicting the second tenant in two years; and one house that I am building in West Virginia and running into problems. I will work it out, but I have to invent a system to manage them better.

I want to keep my condo, but I need the cash to finish the house. Plus it is a one bedroom in a challenged neighborhood and it is hard to rent. Things are never simple. Rising interest rates rule out refinancing. I am trying to pay off bills, not create more. I am glad that I got the condo at a good deal. Maybe I will buy an apartment building in a college town next....