All Forum Posts by: Charles Constant

Thank you all for your help and suggestions. The seller has agreed to pay a per diem amount for each day past a certain date.

Haha! Awesome reply!! We will definitely use it next time we encounter this situation.

I thought I'd ask for a few options from other investors, so I had some options in my head when I spoke with an attorney. Yes, California, so...

Thanks for your replies, gentlemen. The seller has plenty of money having just sold the property, so it's not a lack of funds. I assume you are recommending the cash-for-keys as just an additional motivator, right?

My partners want to draw up a document that says we will be charging her for each additional day she is there, but I don't think that's going to be enforceable if she doesn't agree to it.

We bought a home in Pasadena from a wholesaler with the intention of doing a fix and flip. They had a contract with the 83 year-old seller saying she could stay in the property for 15 days after COE, to which we also agreed. There was nothing in the contract that said what would happen if she wasn't out at the end of that period.

Those 15 days came and went, then she said she need another week. Yesterday, she said she needs "At least" three more weeks. Meanwhile, interest rates are going up, prices are going down and we are paying $6,000 per month on the holding costs.

First of all, I know we were stupid, so no need to point that out, thanks; we won't be doing that again. However, if you have any useful suggestions on what our next steps should be, I'd love to hear them. Thank you!

Hi William,

I am curious to know if you ever got any information about portfolios. I am also working with a bulk buyer and there doesn't seem to be much about property portfolios on Bigger Pockets.

Thanks, Jason. That seems to be the general feeling. I appreciate your help!

Hi Jason,

Sorry, I am new to the whole Forum thing and I thought I posted in the Los Angeles group. I am referring to Pasadena, CA. We are in the process of closing on a fix and flip in Pasadena and one of the partners wants to add square footage, but most of the partners think it’s going to take a long time for permits. I’m just hoping to gather a bit of information from people who know what it’s like there. Thanks!

Are any of you doing rehabs in Pasadena? If so, I’m curious to know what you find the average length of time between applying for a permit and actually getting it are these days.

Obviously, the city is very tightlipped about such information, so this seems to be the quickest way to get some more information.

Good morning, Tyler,

Thank you very much for the information. I will give them a call.