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Old 07-30-2019, 09:55 AM
 
21 posts, read 3,679 times
Reputation: 10

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Quote:
Originally Posted by randomperson2 View Post
Um, dude, you bought a house KNOWING there were squatters. I'm sure that was reflected in the price you paid. If you want to be a capitalist so bad, you'd better toughen up a bit.
As mentioned my wife was very against the purchase even though it was cheaper than all the other options. But we bought the house BEFORE the new laws came out.
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Old 07-30-2019, 09:59 AM
 
21 posts, read 3,679 times
Reputation: 10
Quote:
Originally Posted by dosun View Post
I'm not sure why you started a new thread when many have you answers in your old one, but yes it's true that the new law gives a year for tenants to find new living arrangements. These are questions that could have been really answered by your lawyer.

You purchased the house at a discount because of the situation. This is no different than buying any other asset with higher than normal risk built in. Sell the place if you can't handle the hassle.
As said previously - we bought the house before the new laws and had no idea that they will pass such laws. Already paid 4k to my attorney who does not want to put effort into this. (Already paid them in full).
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Old 07-30-2019, 10:04 AM
 
21 posts, read 3,679 times
Reputation: 10
Quote:
Originally Posted by mathjak107 View Post
this is the same thing that can happen when you dabble in buying tax liens ... just because you are awarded the house does not mean the old owners are out .

the pitfalls you only find out afterwards can be a horror............................................ .................................................. .................................................. .................................................. .......by the time we sold it the money we made and the aggravation was hardly worth it .

i would never get involved with these tax liens ever again .
Thinking the same here. Pay extra and get a house without all the problems.
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Old 07-30-2019, 10:11 AM
 
21 posts, read 3,679 times
Reputation: 10
I am trying to figure out what Experienced landlords do to get rid of the tenants.

If they last in this business for more than a few years - for sure have their "trade secrets" and secret methods.
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Old 07-30-2019, 10:19 AM
 
350 posts, read 245,027 times
Reputation: 348
Quote:
Originally Posted by NewHome buyer View Post
I am trying to figure out what Experienced landlords do to get rid of the tenants.

If they last in this business for more than a few years - for sure have their "trade secrets" and secret methods.

They write off the loss to reduce the capital gained on other properties that they suffered getting people out of.
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Old 07-30-2019, 10:30 AM
 
359 posts, read 89,248 times
Reputation: 476
Don’t burn the house down! You will go to jail!
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Old 07-30-2019, 10:44 AM
 
72,585 posts, read 72,480,100 times
Reputation: 50151
Quote:
Originally Posted by Energystream View Post
They write off the loss to reduce the capital gained on other properties that they suffered getting people out of.
no one wants losses to reduce their gains ...if it happens because it is unavoidable that is one thing . but i doubt anyone's strategy is to intentionally lose money unless they are doing something illegal
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Old 07-30-2019, 10:46 AM
 
72,585 posts, read 72,480,100 times
Reputation: 50151
Quote:
Originally Posted by NewHome buyer View Post
As said previously - we bought the house before the new laws and had no idea that they will pass such laws. Already paid 4k to my attorney who does not want to put effort into this. (Already paid them in full).
squatters always had to be evicted by law. this is nothing new and had nothing to do with the new laws

Under New York State law, squatters are classified as tenants and receive temporary rights after living in a property for a period of 30 days. If a squatter refuses to leave, an eviction notice can be filed in court, but that's no quick process.

the judges always had the right to extend a tenants stay if they saw fit , now it is just official they can go up to a year if they want
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Old 07-30-2019, 11:06 AM
 
Location: NYC
13,115 posts, read 8,886,872 times
Reputation: 14443
Quote:
Originally Posted by NewHome buyer View Post
I am trying to figure out what Experienced landlords do to get rid of the tenants.

If they last in this business for more than a few years - for sure have their "trade secrets" and secret methods.
My father in-law said he filmed videos and photos of tenants that were breaking rules and smoking weed in/outside and the judges don't care about that. That's back when weed was still prosecuted. The judges only go by the same script whether building violation and code is met and the tenants always figure out how to break stuff.

I think in the future, utilities should not be covered at all. All tenants should pay and bring your own services. The landlord should only be responsible for internal plumbing up to the wall. Even still I know how tenants can F up and jam stuff on purpose.

It's just despicable how people are worst than rat infestations.
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Old 07-30-2019, 02:27 PM
 
1,098 posts, read 551,028 times
Reputation: 750
Yeah, the laws didn't change much for squatters at all. You didn't do your due diligence. I will never understand how people enter into as expensive and complicated a transaction as a real estate purchase without the most careful consideration of all possibilities.
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