All Forum Posts by: Joseph Rios

Hello BP Community, I recently passed my state exam to become a real estate agent in NJ. This upcoming week I will be looking around for potential brokers to work for. My question is, what do you look for when going through this process? I know commission split is important but I've heard number of leads given or your profile placed on their website is a big one to. Thanks, Joseph

BP Community, I'm currently selling my home and I have a potential offer to close on September 15. If this go through I will be making a good profit. I know I have 45 days after the closing to close on the new home so I have two questions: 1. How do I initiate the 1031 exchange 2. I'm selling a SFH can I exchange for a multifamily like a 3 family home? I'm in NJ. Thanks, Joseph

I was able to evict my tenant after non payment of rent for April and May. During court I reserved my right to sue, which means I told the judge I may or may not sue. However now that he's finally out I want to file a law suit but he cannot be served with a court judgement unless we have a forwarding address which he refuses to provide. Does anyone have any tips on how to get his new address? When I asked him for his new address it was so that I could send him the letter of disposition of the security deposit, I never mentioned the new law suit, but I guess he put two and two together. Thanks, Joseph

I'm in the process of evicting a tenant, just finished another semester of my MBA degree, my full time job is draining me out... Basically I lost motivation in investing in real estate... I think part of it is due to the bad experience with the tenant or maybe it's my day job draining all the energy from me... basically I'm looking for a way to get back into it. I had a goal at the beginning of the year to have 10 Units by the end of the year and I only have 1 so far which I'm thinking about selling. Any tips would be greatly appreciated! Thanks

Thanks for your reply everyone, yes I have been too soft! I've been afraid of filing an eviction based on the stories I've heard on the forums. This is my first time being a landlord definitely a lot of lessons learned. I contacted my attorney and he said he charges $750 for evictions. He said that if they owe money he can:

A) Send them a threatening letter

B) File an action for Eviction

I think at this point it is inevitable that I will have a vacant unit next month. This is what my contract states: "Owner shall give 24 hours advanced notice and may enter for the purpose of showing the premises during the normal business hours to prospective renters, buyers, lenders.." So there is another breach of contract there.

I can also try threatening them with filing an eviction on the 31st but the clock is ticking and I don't want to wait until then to see what happens. Also per my contract it states that I should give a 30-day written notice of intention to terminate (which I stated verbally but never written) otherwise the agreement is automatically renewed from month to month (I grabbed a general lease, I should have customized it).

- What if they pay the rent they owe for this month? Would that cancel the eviction? Or should I wait until the 31st?

- Should I file the eviction myself or pay my attorney the $750?

- How long does an eviction normally take?

- Will the court order them to pay me for the amount of days they overstayed their lease (if they don't move out)?

Thank you so much!!

@Jason Hirko @Deanna McCormick @Bill F. @Kim Meredith Hampton @Steve B. @Max T. @Account Closed

My tenant said he doesn't feel comfortable having prospective tenants in the house and asked to wait until they move out before showing the house. It's 3/20 today and they're supposed to move out on 3/31 (lease ends). However they keep telling me they are looking for a new place and cannot find one, and that "we're not going to live in the street." This tells me that they might not be moving out on the 31st. They still owe almost half of this months rent and they are consistently late. They've also brought a dog when the contract specifically said no pets although I agreed to it since they promised they would be up to date with the rent (their daughter moved in with her dog and said she would help). My question is, what should I do now? I don't want to have my unit vacant for 1 month, my contract states that I should give them 24hrs before showing but it doesn't state whether they can refuse or not. Also is it better to file an eviction if they don't leave on the 31st or should I change to month to month. I really want them out.... Thank you BP community!

Dakoda Spencer Awesome! Thanks for the update! I will be starting classes soon and I'm looking into potential Brokers I can hang my license with. Brandon L. Russell Brazil I've outweighed the pros and cons and the pros seem to work in my favor. I have the time and money to sit through the 75 hour course (I'm in NJ) and I've been eager to get my license for quite some time. I know Real Estate is about building relationships but I also know that becoming a real estate agent will bring me lots of benefits in the long run. I wouldn't look to replace every relationship I have with my lender, RE Attorney, etc. This is just something I know I can do and works in my favor.

Jake Thomas I agree, nothing good comes easy. Are there any tips you can give someone who is aspiring to eventually do the same?

I came across this old post and wanted to see how this was going for you guys, I'm starting the course to become a licensed Real Estate Agent in about 2 weeks and I am going to do it part time since I have a stable full time job. Casey Klepsch Did you end up getting your license? How is it going for you so far? Crystal Aasir How was your first year as an agent? Jake Thomas Wow 30 houses is amazing. Do you feel like you can still manage to enjoy time off (like weekends, vacation, etc.) while working a full time job and being a part time real estate agent?

Dakoda Spencer Dawn Brenengen Thank you so much for your input! I think I've got all the information I need. Thanks!!!