The Kangaroo Part 12 – Victor R’s Comeback

                                                      versus

                                           The Dead Baby Story

                                by

Stu Silver / “Uncle Zally” Zalman Velvel

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Last week I imparted a great technique for get paid your rent from a non-paying tenant – the “Johnny C Worry em Down.”

 

This week I’m going to impart another great technique, as an antidote for all the heart-breaking stories you will hear from tenants about not paying the rent.

 

It is called the “Victor R comeback.”

 

Victor R is a tough street-smart guy from New York City. He moved to Fort Myers, Florida in the late 1990’s and managed the nastiest, meanest block of 50 duplexes in the nastiest meanest part of town. It was filled with thieves, prostitutes, hardened criminals, and crack dealers.

 

The block of 50 duplexes was offered to me as a great price, before Victor became manager. When I drove up to view them, my foot never left the gas pedal. No way was I interested. My rule is this: If I can’t send my wife, or son, to collect rents, then I won’t own it.”  

When I began training investors in 1997, we had a bus tour where we spent an afternoon looking at investment properties for sale. Victor R had a few duplexes for sale that looked like good deals. They were not on the terrible block of 50 that I mentioned, but a half mile away.

I told Victor we would pick him up with the bus at his office. When we rolled up to his office, I was surprised to discover it was in the block of 50. I was shocked at the improvement – the duplexes were sparkling clean, and the neighborhood was now safe.

 

Victor jumped on the bus and we shook hands. He turned out to be a born entertainer, so I let him speak to the students on the bus loud speaker. He was refreshingly honest, and he kept me and the rest of the bus smiling the entire time he was with us.

 

On the way over to the two duplexes Victor had for sale, he explained how he turned around the block of 50, and how he dealt with excuses from non-paying tenants:

 

“Oh, you lost your wallet … or you forgot to put a stamp on the envelope with the rent in it … or someone stole your purse … or you had to pay the dentist … or pay the doctor for emergency surgery … or you needed special medicine … or your car broke down and you couldn’t get to work … or your mother died … your father … your grandmother … etc.”

 

Then Victor sighed and continued:  

 

“Let me say I sympathize with your situation, but … please … let’s not add homeless-ness to your problems.”

 

That has come to be known as the Victor R Comeback.

 

(Remember, when you show me a great new strategy, I will name if after you. So if any of you have any original strategies that you use, email them to me, I’ll name them after you, and tell others about them.)

 

There is hidden wisdom behind Victor R’s comeback. The wisdom is this – the vast majority of the excuses you will hear from tenants about not paying their rents are pure invention. They are cover-ups for the truth, or just plain lies. If you asked me for what percentage are cover-up and lies, I would guess about 95%, and that is after more than 30 years as a landlord, with over 700 rentals now.

 

I have found it is a waste of energy, and time, to test the lie, or deny it. It doesn’t matter. What matters is that you get paid your rent, so you can pay your bills, and earn a return on your time and money … or … you get the non-payer out and a new paying tenant in.

 

Now, while Victor R’s comeback is strong, there is an equally strong counter, known as “The Dead Baby Story.”

 

Many of you may not know it, but besides writing two blogs, and three books on investing in mobile homes, I am also a short story writer. I have won awards, and had short stories published around the world. In 2007 a book of some of my short stories was published called “The King of Shabbos.” If you would like to know more about it, see my other blog, this week, entitled Kabbalah Kronicles – 10 – What Could Someone Say? http://zalmanvelvel.com/blog/

 

One of my most popular stores is “The Dead Baby Story.” I think it is   popular because it attracts Stephen King readers, in the hopes of satisfying their need to be scared, horrified, or disgusted, or all three.

 

However, “The Dead Baby Story” is not scary, horrifying, or disgusting. It is describes a work of art, and contains as much wisdom as the Victor R Comeback. For those of you that are interested, please email me, and I will send the story to you – but with one proviso. You must email me back and tell me which one is stronger – Victor R or The Dead Baby.

 

Cheers, mate!

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