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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 26 times.

Post: New Jersey Real Estate Market

Account ClosedPosted
  • Posts 26
  • Votes 20

I have a unit that isn't on the market that we are looking to sell asap. It's in Willingboro NJ. Please send me a message if you are interested. 

Post: How is everyone feeling on buying now?

Account ClosedPosted
  • Posts 26
  • Votes 20

I would be interested in purchasing more if I found a great deal and couldn't pass it up. Currently we have one that we are selling at the moment. If anyone is interested in a SFH in Willingboro NJ please send me a message.

I paid $75 for my attorney to draw up my lease and he processes leases for commercial properties as well. 

Post: Hired 3 attorneys and still can't evict my tenant

Account ClosedPosted
  • Posts 26
  • Votes 20
Originally posted by @Shiloh Lundahl:

@Account Closed I am so glad that you were able to evict that tenant before the Coronavirus outbreak really hit the US. Otherwise they may have shut down evictions and the tenant could still be in there.

 Absolutely!! I didn't know I received possession until 3 days before my March court date. After legal aid was notified and I was notified I was thrilled. She lived in my property for 11 months and paid 3 months rent and used legal aid to do so.  I'm thinking about filing a lawsuit against the both of them. 

Post: Hired 3 attorneys and still can't evict my tenant

Account ClosedPosted
  • Posts 26
  • Votes 20

Yes. After we went to court in January one of the judges awarded me possession of my property. My tenant wanted to appeal it and legal aid said that they don't assist with the Court of Appeals cases. She has an eviction on her record now. It took me 8 months to get her out of my house. It took the judge 47 days to grant me possession. 

Post: Would you rent to this tenant?

Account ClosedPosted
  • Posts 26
  • Votes 20

Check the sherriffs office civil website to see if she is getting evicted or was evicted. I would request a copy of her tax returns as well. If she falsifies bank statements, tax records, or anything else you can take that to the police for fraud and no only can she be arrested she can serve time in prison for misrepresentation and fraudulent misrepresentation. 

Post: Tenant wants to break her lease

Account ClosedPosted
  • Posts 26
  • Votes 20

I would let her out of of the lease. If for some reason she can't live there or afford to pay just let her go. You will find another tenant. 

Post: Is Tennessee Landlord Friendly?

Account ClosedPosted
  • Posts 26
  • Votes 20

Yes it is a landlord friendly state. This is a conservative state and evictions go fairly quickly in Tennessee. If you dont pay, you typically get the writ of possession pretty fast. My husband has a property he is getting ready to sell in Jackson, TN soon.

Post: Hired 3 attorneys and still can't evict my tenant

Account ClosedPosted
  • Posts 26
  • Votes 20
Originally posted by @Curtis Waters:

Charlotte Observer article on local Legal Aid Here

 This should be illegal. If you fail to pay rent like anything else you should be evicted. If you fail to pay your car note the bank repossess your vehicle and they do not care how you get back and forth to where you need to go. Filing continuance, and stalling does not prevent people from having and processing evictions. People get evicted from failing to pay. What about cases like mine where the unfair debt collection has be adjudicated, tenant still hasnt paid back rent and has not paid the rent bond or rent in 7 months and is still occupying my property? I smell a class action lawsuit against legal aid real soon.

Post: Looking for help/advice for first investment property questions

Account ClosedPosted
  • Posts 26
  • Votes 20
Originally posted by @Joe P.:

What I would do, if I was in your shoes...is come up with a GOAL. You have no goal stated. You want to be in RE. But that's not a goal.

A goal should be SMART (specific, measurable, attainable, relevant and time-bound). My RE goal right now is to have 10 doors by 2030; acquiring approximately 1 door per year with CF of at least $100 in a BRRRR setting and between $200-$300 in conventional purchase. This means by 2030, I should have 10 doors total, cash flow of at least $1000 per month across 10 doors. I also believe in local investing and having my eyes on the property, so I want to be within 25 miles of Philadelphia or less.

Now that I have my goal in place -- I can focus on acquisition and avenues. My finances are in order to allow me to do achieve this.

Once you do this -- everything will fall into place. You'll need to see how you can obtain money for investments, if you have enough cash on hand/reserves to do so, if you have the time to do so, etc.

Specifically as it relates to your finance information, credit score is good. Don't touch your IRA - in fact continue to direct funds there if you can. Save, save, save. Continue to pay down your debts diligently and on-time.

Also, whats your monthly rent? Boston rents are sky high -- anything you can do to reduce your expenses (your living expense is your greatest expense right now, probably) go do it. Move back home, house hack may be an option with your available cash as well.

This should be "pinned"