All Forum Posts by: Bruce May

@Angela Daigle if you want the timeshare for yourself it might be worth spending $100, but the resale market is horrible. I have a couple friends that own timeshares here in San Diego and they'll probably give them to you if you want to take them over.

Ha, I read the title so fast that I thought you bought a fire house/fire station and made it your home. That would have been cool. Nice job though.

@Nicole Shipley it sounds like she did a cosmetic remodel and permits generally aren't needed for that in many areas, but is in some. Some cities allow you to pull an over the counter permit for the remodel and just pay a small fee. She should be able to contact the city and ask if it's needed without letting on that she already did the work.

Some counties have redemption periods for tax sales. I'd check on that if you haven't done so already. If the redemption period has expired I think you have to work with him or consult an attorney. Your grandfather might have standing to contest the tax sale.

My CPA is also an real estate investor and we've been using him for years. He's @Nathaniel Busch at Busch Tax Service in Ohio.

@Erick Armando Gonzalez there are several. Do a 50 mile search on Meetup.com and you'll find all of them. Send me a DM if you want more details. I'm on the board for the club in Oceanside.

Hi @Trevor Shaw, we have a good investment club here in Oceanside. Send me a DM and I'll give you the details. If I post it here my post will be deleted.

@David Frandsen, you got a lot of good advise here. The 2 things I can add is that I can connect you to Andy Teasly if you like; send me a DM. He actually has a class on this coming up this weekend if you want to attend. Also, mobile home transfers in CA are done through HCD, not DMV.

Michael, send me a DM and I can give you a call about our loans.

3. Should property fail to appraise, Buyers agree to pay any difference between appraised value and sales price up to a maximum of $10,000. but no more than the agreed upon price.

I think the clause is clear. The Buyer and their agent obviously felt the home would not appraise. Maybe they felt your asking price was too high and/or the $40k over asking was too high... I don't know which. In either case it seems they wanted to protect themselves knowing their lender would only finance X amount of the appraised value and they wanted to limit their exposure to no more than $10k over the appraised value.

You agreed to the clause, I think you need to stick to it even if you didn't anticipate all possibilities.