All Forum Posts by: Bryan Zuetel

@Adam Smith, I live in Orange County and invest out of state in several states.  I suggest that you start with the small to medium sized banks in your particular investment areas.  But, your selected lender will also depend on what type of properties you're pursuing: hard money lenders for quick closings or properties requiring substantial work versus conventional lenders for conventional properties.

@Jm Childress, I'm a real estate attorney in Orange County, CA.  But, there are several specialties within the term real estate attorney.  Feel free to PM me to discuss further.

@Nicholas Townsend, check out the California law regarding notice for entry, Civil Code 1954: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=CIV§ionNum=1954.  There are several reasons for entry, but "just popping in" is not one.

@Barbara Gardner, I would add that generally, the standardized contracts used by Realtors, and the California standard purchase agreement specifically, have a requirement that the buyer provide a proof of funds to the seller within a limited number of days after opening escrow (usually 3 days).  If you don't have the proof of funds showing funds for all of the downpayment, the seller could potentially cancel the contract based on your failure to provide the requisite proof of funds and failure to perform pursuant to the contract.  If your state standardized contract contains that proof of funds provision, I'm not surprised that the Realtor would ask for such proof before trying to get some properties into escrow with you.

Be aware that if you want to do FHA, you'll have to occupy one of the units. I would look into the area around Chapman University for a 2-4 unit property, given all the growth and revitalization around the university. You might be able to break even or close to it.

@Varinder Kumar, gardening and pool maintenance are maintenance items that you can require some tenants to pay for.  Plumbing does not sound like a maintenance item and would generally not be something that you can have a tenant pay for.  This can change depending on the type of tenant and the jurisdiction.  I would suggest that you start here to learn more: http://www.lawhelpca.org/subtopics/landlord-and-tenant-issues.

@Alaska Wagoner, I'm a real estate attorney, broker, Realtor, and investor based in Orange County. I love living in Orange County and own my home here, which has been my best purchase, but all of my real estate investments are out of state. I can't see how non-owner-occupied investing makes any sense in Orange County. I would suggest that you look at some of the duplexes and triplexes in Orange, Tustin, good parts of Santa Ana, and northwest Orange County. You may be able to do an FHA loan, put minimal amount down, get close to cash flow, and begin building equity.

@Gaurav A., although customarily, buyers and sellers may split certain fees or pay certain fees, for the most part, it is left up to the parties to decide who is paying what fees. There are a few California statutes that require one party to pay certain fees, such as the seller paying for some HOA documents.

Paragraph 26 of the current version of the C.A.R. Residential Purchase Agreement reads, "Buyer shall not assign all of any part of Buyer's interest in this Agreement without first having obtained the separate written consent of Seller to a specified assignee.  Such consent shall not be unreasonably withheld."  So, yes, the C.A.R. Residential Purchase Agreement can be assigned pursuant to this paragraph.  

@Marcy Moyer Real estate brokers are not parties to the Agreement and are not assigned to the contract.  Please see paragraph A on page 10 of the current version of the C.A.R. residential Purchase Agreement.

@Paul OBryan, after researching this issue,  I don't see an easy or ethical way around California's unreasonable definition of doing business in the state.  So, I would just bite the bullet and pay California the tax.