All Forum Posts by: Jason Zundel

Katherine:  If the property was purchased properly and legally by the investor in 2024, then the previous owner's will not have a legal claim.  That is a very loaded statement however, and I wouldn't be an attorney if I didn't add a whole slew of caveats - tax lien sales are notorious for being tricky and easy to mess up.  I would strongly recommend that you get a real estate attorney to dig into the title and history before buying, and insist on title insurance as part of closing to verify. 

The eviction is a whole other beast, and frankly I would make that a requirement of closing.  Evictions take at least a month, and that is if everything goes swimmingly.  You should not buy the property until the current owners are fully moved out.  Particularly when there is a history of violent and illegal action, you will certainly be needing the sheriff to support the transfer.  If you plan on living there, you don't want to be the face of the eviction. Let the current investor manage the eviction (you can even share the cost) so they are the ones associated with the current owner, wait a few weeks to a month after the eviction is fully complete, and then close on the property.  It's absolutely going to be a hassle and an expense, but if the investor will work with you, it can be a lucrative option, though of course I don't have the pricing details.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Long distance ownership is a bit of it's own beast for sure.  For many of my clients, the most cost effective option is to take the time and do the research on both sides - separately finding a general contractor (maybe even the specific subcontractors needed) and property manager to handle the needs of the property.  This way you individually negotiate the prices for each and will have more direct oversight and control of the process.  That being said, even if its costs a bit more, finding a high-quality property manager with the connections and ability to manage the rehab portion can make things much simpler for you. If you plan to invest further in the area, this connection will be a great long-term option for the future as well.  It's all going to come down to budget. Best of luck proceeding!

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Mike, If the HOA was dissolved that long ago and you only recently purchased the property via tax lien sale, then it is quite unlikely that any old HOA members have any rights to the property, both based on the length of time that has passed (statute of limitations) and their failure to make a claim or sufficient effort to maintain their rights. If the dissolution happened in 2025, then we would be having a different conversation. That being said, anytime you are involved with a tax lien property that you will hold and develop, title insurance and a deeper search from a real estate attorney or similar professional is always a good idea.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

In Connecticut, squatters' rights (commonly know as adverse possession as well) will allow the squatter to own the home they've been using outright if the proper conditions are met for a period of at least 15 years. These conditions include continuous, open, notorious, exclusive, and hostile possession. Squatters cannot claim any right to occupy the property without the owner's permission and can be removed through the legal eviction process.  Here's a pretty in-depth article on the topic for some light reading - https://www.hemlane.com/resources/connecticut-squatters-righ...

Other than the above though, the eviction process for a squatter will follow the standard CT eviction requirements.  Notice to quit, file an eviction, get the court order, and then schedule the sheriff to come out and remove.  It sounds simpler than it is written, but at the end of the day the process will be the same for squatters vs. defaulting tenant holdovers.  The water bills and damages can be awarded, but also be aware that it might be pyrrhic victory - you can't squeeze blood out of a turnip.  If they are squatting, they likely have little to no assets you can use to collect on your judgment.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

This is a tough one, as a big portion of the blame seems to be landing on the tenant, which unfortunately we've seen as deliberately done in some cases to avoid paying rent for periods of time.  While HVAC is a guaranteed right (warranty of habitability) in practically every state, in one form or another, when the tenant is responsible for at least some of the issues, then they must take responsibility for such.  My recommendation here is DOCUMENT, DOCUMENT, DOCUMENT.  In writing as much as possible, whether that be pictures of the tenants blocking air vents, notes from the HVAC pros, records of the system starting and stopping if available, etc.  That way you have a clear picture that you've been a responsible landlord and the consequences will fall on the tenant.  You may also set a rule that the HVAC is required to stay on at a set minimum temperature (which will actually help the system last longer as well).  Best of luck moving forward!

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

In my experience, even for your first investment, go big or go home.  Whether you plan on moving back or not, focus on the investment itself and do you best to be a bit more clinical.  It's always easiest for the first investment to have it close so you can personally manage and support.  Look at the age of the home and the standard costs of repair (even new will always have something dang it) and give yourself a buffer there.  If you can afford 20% and it's a good deal, then dive in.  If you can't afford 20%, then I would be wary about starting your investments with a negative cash flow. Don't get emotionally attached even if it's in a location that you THINK you MIGHT be heading in 3-4 years.  Make the decision if it makes sense NOW.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

Prashant, I would be careful going this route.  As you already noted, TX is known to be stringent in their requirements with regards to HELOCs and lending in general.  Anyone that is offering less than the standard is doing so for a reason.  Either they are going to charge you an arm and a leg or they are trying to hide something, neither of which is good for you.  If you do go this route, ensure carefully that the documents, though minimal, still meet the requirements, both state and federal.  Mistakes in this area will come back on you as well as the lender, and ignorance will not be an acceptable excuse or even mitigating factor.  Surprise, surprise - the attorney is risk averse and likes paperwork!

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

I think that the world is definitely moving in this direction, and as Cole said there is a lot of potential here for efficiencies.  That being said, from the legal perspective, you want to be very careful in its implementation.  Two specific examples are your license and private information.  In order to provide real estate broker services you must be licensed, right?  How about the AI?  Clearly, the AI tool isn't licensed and it's YOUR responsibility to ensure that what's done by the AI wouldn't be considered services that trend into that territory, at least without your direct supervision.  In addition, especially if you are using a free tool, any and ALL information you are inputting (or the client is inputting) to the AI is kept and used by the AI and it's owner/creator, which has very concerning implications when it comes to privacy.  Some of these concerns can be assuaged by only using a paid, encapsulated AI service and careful management though!

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.

My pleasure!

Graphs like these can either look at a specific date, but more commonly at the trends and averages.  While at a peak currently, the average with a smaller period this year is less than the average of last year, and by $150.  In addition, the real peak looks to be happening in April, while again, the general compilation is often based on on metrics such as quarter, so the peak of 2,8000 may not even be includes in the average numbers being shown or read in the statement of rents being $150 less than last year.  As an investor, you definitely want to look at the  underlying number and analysis being used and often take the graphs and charts with a grain of salt.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.