Find the Tired Landlords to Find the Deals

Find the Tired Landlords to Find the Deals

When you find tired landlords, you can find solid real estate deals.  When I refer to a tired landlord, I’m not talking about a sleepy landlord.  I’m talking about a rental owner who is sick and tired of dealing with toilets, tenants, and termites.  They are frustrated and ready to sell their property, even if they have not thought much about selling.

The tired landlord could be any age.  Many times it could be someone in their late 60s or older.  They’ve owned their rental properties for decades and might not have any debt.  They’re tired of personally managing their properties, and there is probably some deferred maintenance.  They want to enjoy retirement, whether it be traveling the world or bouncing a grandkid on their knee.  They might even relish the opportunity to mentor or loan money to a young and hungry investor.

Another type of tired landlord could be an accidental landlord.  They had to relocate suddenly for their job, and they opted to rent their house from a distance.  Unskilled as a landlord, and living too far away to keep an eye on the property, they’re tired of complaints from the tenant, the neighbors, and the city.  Other accidental landlords include the heirs of the deceased.

Yet another type of tired landlord is a person who allows tenants to get away with things like late rent payments or non-payments, allowing adults not on the lease to move in, permitting damage from tenants, and allowing unauthorized pets.  The landlord knows they need to enforce breaches in the lease, yet they don’t have the stomach or the skills to do so.  They just want out.

One more tired landlord is the one who is too old or too busy to personally maintain the property.  They know it needs a lot of repairs, which they used to do themselves.  Since they are averse to paying for a contractor, or they can’t afford one, they neglect the property more and more.  Over time, vacancies increase, delinquencies increase, and costs go up. 

Many landlords don’t want their tenants to be fully aware that the building may be for sale.  Others may be reluctant to allow many showings.  Some landlords may balk at a Realtor’s commission.  Therefore, these landlords may welcome a private sale. 

Some tired landlords may be willing to provide owner financing.  Many may have little to no debt remaining on the property.  Some landlords may appreciate earning interest on a loan or a future share of the profit if the property is rented or sold.  Many may wish to defer or minimize their capital gains taxes.

If you have skill (or at least no fear) in dealing with problem tenants and problem properties, you could become a tired landlord’s saving grace.  Once you acquire a property, you could resolve the tenant’s problems or ultimately evict them.  If the property needs work, you could increase the value by fixing it up.  Your ability to solve problems will make you a pleasant alternative to a tired landlord’s stressors. When someone is emotionally done with a property, they might be willing to let it go for a low price.

How do you find tired landlords?  They are in investor groups.  Realtors, bankers, accountants, and lawyers know them.  Perhaps you can tell people in your sphere of influence that you’re looking for a complaining landlord who is sick and tired of toilets, tenants, and termites.  A great way to track down tired landlords is to call For Rent signs and strike up a conversation.  Tell them that you’re a real estate investor who wants to be the first person they call when they are ready to talk about selling. 

Over time, you’ll receive many calls.  When you do, ask lots of questions about the property and the situation.  If you think you need it, ask the person if they would like to earn additional money on top of the sale price.  If they say yes, you have an open door to discuss owner financing options.  Regardless, ask the tired landlord what they would need to walk away from the property.  They just might name you a price that you can’t turn down.

Tai DeSa is a graduate of The Wharton School of the University of Pennsylvania.  He became a full-time real estate investor in 2004 after serving in the U.S. Navy.  Tai has made colossal mistakes in investing (and learned some things along the way).  He has owned over 200 properties with various investment partners, and he has been involved in over 200 more transactions as a real estate broker in both Pennsylvania and Tennessee.  Tai and his wife Amira enjoy hunting for investment properties.  Contact Tai if you need some consultation on real estate investing.  Tai may be available for coaching and speaking engagements on a variety of real estate topics.  Send an email to  Tai is passionate about helping investors make money and avoid mistakes.

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