All Forum Posts by: Sarah Williams

We are property owners that went into an owner financing situation on a deal with a buyer. The buyer defaulted on the loan, and we need to start the foreclosure process. Can we do this on our own? If so, what would the process look like. New York State. Thanks in advance. 

@Nathan Gesner Thanks for the information. And yes I totally agree with you. My husband didn’t want me to text at all.. He’s business all the time, but I honestly wanted to try to give them a heads up. They have kids, & I’m a mom too, so I was trying to be thoughtful In that sense... But that’s over now, & there will be no more texts or communication besides the eviction notices & communication through our lawyer. We’ve been landlords for many years in NYS. Florida I’m learning is a little easier with evictions, especially if there’s no leases. So I’m confident everything will work in our favor. 

@Ken Naim thank you. Yes I’ve actually found that if there’s no leases, there will be no problem to evict. 

Hello all. Hoping to get some advice as to what our best course of action should be. I’ll explain the entire situation, so I apologize in advance for the lengthy post. My husband & I are closing on an investment property next week. 4 units. Our 1st in Florida, so we are still researching all the laws here, but with everything changing due to Covid, not exactly sure what we can & can’t do right now. The sellers are older & kind of gave up on the property. The tenants in unit #1 actually were the ones that moved tenants into units #2 & #3, & those 2 tenants paid tenants in unit #1, and they paid the sellers. The sellers don’t even know the names of the tenants in those 2 other units. Tenants in #4 paid the sellers directly & we do know their names & have their information, and they’re actually late on their rent by a few months. One of them has a job and the other is sick & most likely the reason she can’t work. The entire property is in need of extensive rehab & extensive cleaning . The tenants in all 4 units took horrible care of the property and every unit is absolutely disgusting and dirty. They all have dogs that the sellers didn’t know about. The tenants in unit #1 have 4 dogs alone. 2 huge ones & 2 puppies. All the tenants have known for months that we were in the process of buying the property, and tenants in unit #1 told me & the sellers a few months ago they were looking to move anyway.

We need for all of them to be out ASAP. I sent a text to tenants in units #1 & #4, those were the only names & numbers I have. The text just said that we need for them all to be out by July 1st. I was nice about it. I explained that we needed to do extensive rehab & we needed the property to be vacant. I asked unit #1 if they can give me the names & numbers of units #2 & #3... I also told both that we were trying to avoid legal action & we wanted to make it an easy process for everyone... Unit #1 tenants texted back saying that they can’t find a house due to their dogs & they need more than 30 days. We don’t want to the dogs there ourselves . They didn’t give us the info for the other tenants. ...

Unit #4 hasn’t texted me back..

Unit #1 & #2 are current with their rent.

Unit #1 had a lease that ended last year. The other units had no leases.

What can we legally do to get them all out ASAP??

I know this is a long shot, but anyone know any lending institution or PI in Florida willing to take 2nd lien position on a property? We are seasoned investors, many years of experience, and have came across a deal that we don't want to pass up, and need a little extra cash for the down payment. Are REI meetups even a thing post Covid? Things are always changing , so I figure it wouldn't hurt to ask! TIA!

Have a few in Buffalo NY. Just wondering. I’ll delete once I find out. Thanks! 

This property is in NYS, so evictions are on hold as we know. We are out of state. This tenant has a dog that we NEVER allowed. But we just found out from his roommaate that the tenant let’s the dog use the bathroom inside the apartment! Urine is literally dripping down to the lower unit! Plus, the dog already ruined brand new carpet, that the tenant took up himself, never told us. And there’s feces all over the yard. There has to be some recourse for this situation?! Are the courts even open in NY? Any advice is appreciated. 

-2019 goal of purchasing our 1st property in Florida, our primary residence (with future goal of using it as a business in a few years), accomplished.

-2020 goal of continuing renovating the properties we already have in order to maximize them all at full occupancy for once (always seem to have empty units due to lingering projects & renovations). This goal 100% has to be accomplished. 
And I have to get healthy mentally, physically & financially.

I would say hold & do the hard money.  Totally agree with @Will Fraser. I always hear investors regretting selling inventory. I myself have experienced this regret at times, but selling the right property, at the right time has also benefited me, depending on the situation. But for you, just starting out, I’d say hold on to as many properties as you can while scaling up.