All Forum Posts by: Gino Gonzales

@Nicole Holcomb if you don’t mind me asking, how much was the escrow company’s assistance? And are you located in northern Cali?

@Jon Minerick Sad to say I had no idea those roles existed.

So the escrow agent doesn’t work for the buyers agent? I just wanted legal advice mainly on disclosures and there isn’t any disputes but if I have to write counter contracts after the inspection or appraisal period I’m not confident to do that. So having this attorney has been amazing. It’s a fraction of what a selling agent costs that’s forsure. I don’t see why more people wouldn’t take this route? Especially in a hot market like Northern California.

Hello BP fam!

I live in Northern California and I am currently in escrow as a seller. I did a FSBO and need help finding a good real estate attorney or should I even use one? Let me know your thoughts!

@Bill F. Thankyou for the well thought out response. Makes complete since to break it down.

What is the process of evicting a tenant in California?

@Evan Polaski my situation is more like the second scenario you brought up. Its a SFR with a purchase price of $380k. I'm doing all the due diligence such as inspections, quotes from subs, managing subs, and placing the tenant in the property then handing it off to them to manage. They do not want to give me equity for the reason you stated. They're aware that it will be worth more in 10-20 years so they would rather pay me the one time fee which I'm fine with, just don't know exactly what to charge and I want to be fair.

@Bill F. Thankyou for your input.

I’m not receiving any equity in this deal. They’d rather pay me a one time fee to do all the ground work such as the items I described in my original post above. What do you think a fair acquisitions fee be in this situation?

@Lillie MAnon Thankyou for all the input!

They will have say in every aspect of the deal. I’m simply the boots on the ground but will update them along the way of every step.

I have not made any promises of return. I’ve only have showed them deal breakdowns with potential mortgage and rental averages based on different down payment scenarios.

@Kenneth Garrett the asset is a SFR and I'm not receiving any equity. Only the acquisitions cost up to the point of me placing the tenant in the property once all rehab is complete. Would this still fall into the 1-3% rule? I was thinking 5k so 1% of this property is $3,800. So I'm right in that range.

@Blake Edwards I would love to get notified when you guys will be having real estate investor meet ups! Thankyou