All Forum Posts by: Yangyang Jin

Thank you for all of your replies and suggestions. I now realize that the tenant is legally required to continue to pay the rent even though they have filed chapter 7. I thought the tenant was going to continue paying the rent because her record is good. But she has stopped paying her rent now. I would like to get your recommendations for a landlord & tenant attorney who can assist me in this case, or an attorney who is familiar with bankrupcty court. I tried to look up online about the specialized attorney but the advertisement doesn't seem too trustworthy. 

I bought an investment property in February this year, and after multiple assessment, we decided the property is not safe for the tenants to reside further and sent a notice to inform the tenant that we will not renew the lease when their lease is up by end of July. One of the tenants reached out to me recently asking that we let them to stay because they are not able to find a new place, the reason being they don't have credit history ( they have lived in the country for over 20 years now), and all landlord requires credit history. Do you have suggestions for me? Is there places that they take alternatives when tenants do not have credit history? What else can I do to make sure the tenant move out on time? 

I would like to get everyone's input if you ever had experience with any of your tenants filed bankruptcy, can you share your experience and advice? I have just received a mail sent by the tenant's attorney stating the bankruptcy of my current tenant. I was planning to list my property for sale this summer, not sure what is the implication here, what are my rights and what are the proper actions I can take. Would appreciate your feedback, feeling stressed about the situation.  

 Hello Kayla, I'd love to connect. These days evening gatherings are challenging for me, I have a 4 month old at home. Itd be great to get connected via phone first if that's possible. 

@Sebastian Hernandez Thank you! I will reach out to Darcy and have a chat with him.

I would like to get advice how to be more successful in acquiring deals in the future. A seller accepted my offer for a 2 unit property and the attorney review started. However, it took a long time for the seller attorney to come back to us to close, when they finally came back, we were informed they were negotiating with another deal while not replying to my offer. The better deal is- all cash, close in 2 weeks, they take the house as is and no inspection required. I tried with a counter offer with higher price, but did not win. What are people thinking when they offer all cash? Are they trying to secure the deal first and then do a cash out refinance? I just can't think of any logical investor wanting to lock that much cash in a property.......

 The reason I am asking is because I came across two really well built and well priced 2 unit multi-families. Among the available inventories in central Jersey, these two are fairly new in ages, good layout, spacious, in an affluent town where the potential rent can be very nice. But all 4 units have tenants occupying, and seems like they all have been living there for more than 10 years. And I learned the rent was never increased in the past 10 years. Though the seller mentions that on the lease, it states the new landlord can give the current tenants 45 days to vacate when they take over. But an attorney who is familiar with NJ rental laws, says that should not be the case. New landlord can not vacate current tenants simply because they need to renovate. I am curious to learn if anybody has experiences similar situation before?