U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-29-2019, 11:19 PM
 
15 posts, read 1,689 times
Reputation: 10

Advertisements

Bought a 2 family home in Brooklyn NY with non paying tenants/squaters.
According to the sellers, - one squatter was living years without paying rent and (in short - sellers were out of town and were incompetent to deal with this).
Please don't ask WHY we bought a house with squatters.....


Sqauters refuse to talk to me.
$4,000 already paid to Lawyer ($2,000 per apartment.)
Lawyer gave them 10 Day "Notice to Quit" which is meant for squatters. (He warned me that if they will claim that they were tenants - case will be dismissed and we need to start all over!!)

*April: is when we began dealing with eviction.

*June: Our "scheduled" court date. Judge Marc Finkelstein “adjourned” the court date to mid August (7 WEEKS) for them to find a lawyer.

*August: Our first court date.

I am VERY mad at "GENEROUS" judge for giving them 7 WEEKS to find a lawyer on while they are living free on MY account.

I commented In another thread I was told that with the new Anti landlord Laws past in June - judge will give them another 52 weeks to look for apartment???!!! Is that true?? Will judge also give me 52 weeks off of paying my mortgage?

https://streeteasy.com/blog/new-york-rent-laws-2019/
https://www.bloomberg.com/news/artic...s-see-as-curse
Reply With Quote Quick reply to this message

 
Old Yesterday, 12:16 AM
 
1,082 posts, read 537,510 times
Reputation: 733
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.
Reply With Quote Quick reply to this message
 
Old Yesterday, 01:32 AM
 
758 posts, read 312,705 times
Reputation: 662
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.
Not that i dont think OP is a little clueless. But what makes them a “capitalist”? Their ability to purchase a home? Meanwhile these squatters are exploiting the system because they can, worse than any capitalist in my book.
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:55 AM
 
72 posts, read 30,644 times
Reputation: 118
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.

Last edited by dosun; Yesterday at 04:31 AM.. Reason: Spelling correction
Reply With Quote Quick reply to this message
 
Old Yesterday, 04:34 AM
 
72,227 posts, read 72,173,749 times
Reputation: 49747
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 .

we didn't really expect to get the property . we really were doing it for the 18% interest . the owners always come up with the money at the last minute .

well this time they didn't . so with the people still living in the house we had to start the eviction process .

so now we are in to this for 2 years back taxes at 12k a year , and now legal fees .

they used every tactic to stall the court so they were finally evicted almost one year later and 3 years taxes

but now they left their stuff behind . it was basically junk but nj law says we have to store it for months and if not claimed and paid for it is ours .

so now a moving company moved everything out to storage . now we had storage fees for 6 months and moving expenses .

at the end of the time frame we had to pay again to have the stuff removed .

while the house was empty , we can't prove it but we are pretty sure the ex owners went back inside and vandalized the house ripping out all plumbing and wiring .

basically the house was trashed . my partner luckily was a builder so we ended up gutting it and starting over inside .

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 .
Reply With Quote Quick reply to this message
 
Old Yesterday, 05:40 AM
 
51 posts, read 6,404 times
Reputation: 45
Horrible situation. The bigger question is why are 2-family homes covered by any rent regulations?
Reply With Quote Quick reply to this message
 
Old Yesterday, 06:10 AM
 
72,227 posts, read 72,173,749 times
Reputation: 49747
Quote:
Originally Posted by dfc99 View Post
Horrible situation. The bigger question is why are 2-family homes covered by any rent regulations?
there were some provisions in the new laws that pertained not only to stabilized but unstabilized apartments too.

as far as i know A landlord may be criminally charged for forcibly evicting or locking out a tenant, and must notify a tenant prior to non-renewal of a lease or if rent is to increase 5% or more. Other provisions give tenants more time to get a lawyer or fix lease violations to stave off eviction, and allow judges to delay eviction for a year if the tenant can’t find similar housing in the same neighborhood.
Reply With Quote Quick reply to this message
 
Old Yesterday, 07:16 AM
 
Location: NYC
13,040 posts, read 8,831,125 times
Reputation: 14345
If I owned a house in NYC, I would only rent to those with 700+ credit scores and I would have to interview and perform background check like a full-time job. Any blemish in work or credit history will be scrutinized heavily. I've been burned in the past to know there is no other way but the hard way.
Reply With Quote Quick reply to this message
 
Old Yesterday, 09:20 AM
 
89 posts, read 95,531 times
Reputation: 46
Quote:
Originally Posted by vision33r View Post
If I owned a house in NYC, I would only rent to those with 700+ credit scores and I would have to interview and perform background check like a full-time job. Any blemish in work or credit history will be scrutinized heavily. I've been burned in the past to know there is no other way but the hard way.
To be a landlord in NYC under the new laws is to have no brain. I have an apartment that I keep empty and let my family use and use myself intermittently - not worth renting out! The second I can't afford/don't need to keep it, i will sell.
Reply With Quote Quick reply to this message
 
Old Yesterday, 09:41 AM
 
51 posts, read 6,404 times
Reputation: 45
I own a 1-family house on S.I. There are a number of 2-family homes in my neighborhood. The owners of those homes are now extremely careful who they rent their 2nd unit to. Most of those apartments are rented via word-of-mouth or through a trusted realtor. Smart homeowners know never to list an apartment in the Staten Island Advance. It's asking for trouble. But on the other hand a good tenant will often not have their rent raised for years as homeowners value good tenants. One homeowner I know rents out his 2nd apartment (a small studio) for $600/month to tenants he has had for almost 10 years. An off-street parking space included. He raised their once when his property taxes increased.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:




Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
View detailed profiles of:
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top