All Forum Posts by: Noyessie Hubert

Hi @Jay Hinrichs, The title report will be ready by Monday.

Hi @Chris Seveney , I plan to keep all my catch for the purchase below 50k. I just need 150k, and I will manage the rest of the repairs myself.

Hi,

Can a private lender / hard money lender help me close a deal by Friday ( 5 days from now ) in East Orange, NJ?

It is a redemption house with an assignment contract for 190k. 

- The Rehab estimate is around 50- 60k. 

- 3bd, 1.5 bath

- plan to fix and hold

- delivered vacant

- The current estimate, according to Zillow, is 327,300
- My rehab includes a 4th bedroom, which will increase the value by at least 30k.

- 2bd are currently getting sold there at 300k.

Exit strategy:  Rehab, Refinance, and Hold for rental or personal use.

Caveat: It is a redemption and needs to be closed by Friday this week. The lender I have can not do that.

I'm still deep in the process of analyzing the deal and can share my calculation details with potential lenders. But knowing how much the loan will cost me is crucial to making a final decision.

Hi, thanks all for your advice.

I was feeling bad to directly go for an eviction without a notice, but based on your comment and the fact that is not a charity. I will file directly for eviction.

She is not paying the rent, so the state do not require me to give a notice. 

I’m currently contacting a lawyer and will update what I learned here. Thanks again.

Thanks, Nicholas, Will look for a lawyer. 

My question was should I give her a heads-up? Because if she pays all, I'm okay and don't need a lawyer.

Hi,

I accepted a tenant at the beginning of December. Here security deposit and most of the first month's rent are supposed to be paid by NJ Victims of Crimes.

Fast forward now:

- she did not pay her rent of January. Keep telling me a sob story about her paycheck getting sent to the previous address ( that was 18 days now, not corrected ).

- still did not receive the check from the NJ Victims of Crimes office.

At this point, I want to file for eviction at the end of the month if she delays the event by 1 day to pay her entire rent ( January and February).

My question to you professional is, should I inform her of that decision in advance? Something like: "Know that if you don't pay your full rent by the 01, I will file for eviction".

Or should I just wait and if she passes the 01th, file for eviction?

Lease: I used the lease provided by the Bigger Pockets podcast. 

I just purchased my first property in Irvington, NJ, 07111 ( a nightmare :-) ). But now is mine. I was going through the rent control laws ( I know, should have done that before purchasing the property ), and a section stands out. https://ecode360.com/30526708#42037155

Based on what I can read, the rent control chapter doesn't apply to: Dwellings of three and four units, at least one of which is occupied by one or more of the owners thereof.

My understanding is that rent control doesn't apply to owner-occupied multi-units. Am I correct here, or does this exception mean something else entirely?

Thanks.

I bought a 4-unit property in August ( 2 months ago ), it was my first property, and I inherited a section 8 tenant. The previous owner did not give me documentation on the current tenants. Just the phone number and current rent amount.

I purchased the property on August 16 and introduced myself on September 20th. So she did not pay rent for September ( she was supposed to pay it to the previous owner and the owner was supposed to send it to me, but the previous owner received nothing and she agreed nothing was sent ).

Now she needs to send my information to her case worker to update the rent payment address and everything. However, the caseworker is not reachable for weeks now. There we are in October and still nothing. I don't know what to do there:

- What information should I ask a section 8 tenant?

- What should I do to get the rent paid, including past rent?

- Any other advice to manage section 8 tenants?

Thanks.

 As I mentioned, I'm in a rent-controlled area. Was thinking of making here change unit, but not sure if that's enough to bypass the rent control rule.