Lessons Learn From Auction Purchase and Managing in Middletown NY

I wrote about how I found this property in a different blog. This is all the pieces and events that terrifies every potential landlord. I closed in the end of Feb. Picked up my first rent of $1200 for March. Talk about excitement!!

Tenants did not pay Aprils rent gave me different excuses i.e. It was being delivered, Just got a new job waiting for the first pay etc.

I'm very patient and since I inherited them with the purchase didn't expect much out of them just didn't expect  the excuses this soon. Well April came and when I didn't get anything by the 10th I started the eviction process. Got an eviction Lawyer from my realtor the eviction would cost $1100 if it went  through a full eviction. We went through a full eviction! We went to court in May and tenants sign an agreement to give me 2 months back pay and move out on May 31. My lawyer advised me that they most likely would not be paying so be happy to have them out on the 31st and move on.

• Some of the lessons I learned are how important the dates on your lease are. I had it that after the 10th of the month if they had not paid rent I would start the eviction process. Lawyer explained that it should be the 3rd the 5th should be the latest because ever day later delays your eviction process.
• Make sure Lawyer is honest about the process mines charged me for a full eviction when it did not require a full eviction the agreement was county procedure
• Go with your gut from the first meeting knew the tenants was off. they had been living in the property in horrible conditions with kids but once I bought it they expected me to fix everything immediately though the market rent was $1500
• With an online auction the tenant may be a swatter and you cant tell if I hadn't got them to sign a lease I would of had a way harder time getting them out