All Forum Posts by: Devang Patel

Do I need to send out a letter to the tenants letting them know I have proceeded to issue a warrant for removal?  We had already gone to court and came upon an agreement via the mediator, but they did not end up meeting their end of the obligations by the specified date.  

john i am not sure i agree.   

I am confident the lease will be enforceable as far as their responsibility to pay for utilities since I also had an attorney look at it for review.  On late payments, we go through an ongoing cycle of me sending late notices and then a notice to quit.  They always pay with late fees within 15-20 days of the late fee.  The gas has already been turned off and I am concerned about the damage this will do to my property.  

The gas is in their name but i am worried about the damage they are doing to thr property since the gas was shutoff such as potential frozen pipes and other issues. 

I have a local property manager and he charges me a flat fee per unit which covers all collections, interactions with tenants, minor repairs, new tenants, and assisting on evictions.  How do people normally track expenses for supplies that the property manager charges?  Do you usually front the manager and then ask for receipts or does the manager front the cost of the supplies?

My New Jersey lease strictly states the tenant would be responsible for paying the gas.  They have not paid the gas bill for months and I am wondering if this can be grounds for eviction.  They are however paying the monthly rent (late mostly every month)

How about if the previous owner had a green card and it was only a few years in.  Does the new owner have to have the property reinspected once purchasing or can you wait for reinspection until the 5 years are up?

Hi all.  Just want to say I love this site and also all of those blog members that have helped me along the way.  Within 15 months i have accumulated my first 9 units and each one has had its share of challenging yet ultimately prosperous adventures.

I have a question on 401k-- What is the point of having one if company does not match when you can have cash flowing properties while also increasing your equity? I am almost thinking of selling out of my roth IRA and 401k completely in order to purchase 2 or 3 more properties in cash to get to my goal quicker. I am still 30 years away from retirement. With the way the markets have changed in the past 15 years, I feel real estate to me is more of a tangible asset that is easier to understand. I feel like I have way more control with real estate than my 401k/roth iras which feel more like black holes. Any advice would be greatly appreciated.

does anyone have a recomendation for eviction lawyer in union county?

@jesse waters that sounds like a great plan. Do you have any concerns about refinancing at the end of your shorter commercial loan terms especially with the general market consensus that rates will be steadily increasing?  I am not sure if I have built enough equity yet in my portfolio of rentals to try your strategy but sounds like it should help down the road.