All Forum Posts by: Eugene Fedotov

https://www.nj.com/hudson/2023...

To protect properties, leverage your properties to the hilt. This way there is no equity to go after in case of a lawsuit. And empty your account by prepaying your taxes if there is a lawsuit. To protect yourself create Manager-Managed LLC which will hold all properties.

This is a very interesting article about rent growth and decline in various markets.

https://www.cnbc.com/amp/2023/...

I am not an attorney. From my experience as the landlord:

Your partner' residency status is irrelevant.

You need to look at your partner's connection to the property as well as if any judgement is actually can be collected.

If you partner has been serviced properly, somebody needs to show up in court unless the default judgment cannot be connected. A lot depends who and how accepted the service. But it may affect obtaining a legal status in US if it ever desired.

1. Read about Dodd-Frank Act.

2. Find out how difficult would it be to do foreclose on the property in case new owners do not pay. 

3. You will not be collecting rents but mortgage payments. It has different tax implications.

Not sure if it is off-market. It is advertised as 2 family. Here is a link.

https://www.redfin.com/NJ/Elizabeth/331-Bond-St-07206/home/37837275.

This is a very long article pinning landlords and tenants against each other. Anyone who thinks about increasing rents after purchasing properties with under market rents should give it a second thought. How long before other jurisdictions get the same brilliant idea?

Coming to a neighborhood near you.

"The Los Angeles City Council adopted an ordinance on Tuesday, Feb. 7 requiring landlords to pay relocation assistance to tenants who move out after getting rent increases of 10% or more.Under the ordinance, if a landlord increases rent by more than 10%, or the Consumer Price Index plus 5%, the landlord must pay the tenant three times the fair market rent for relocation assistance, plus $1,411 in moving costs."

How long before other jurisdictions get the same brilliant idea?

It needs to be a trust account under tenant' social security number. But you need to make sure, the bank accepts rent security deposit trust accounts because there are a lot of paperwork involved. Also there may be a bank fee so you need to make sure the interest on the money deposited exceeds that fee.

My question is why would federal agents contact you and let you know that your tenant is in custody, let along talk about extradition. I would call back that agency main number and ask to be put in touch w the agent just to confirm.