All Forum Posts by: David Avetisyan

The flu is ‘old’ news and society is desensitized to it. But COVID-19 is a “pandemic” which has every media outlet focused on this “invisible killer.” 

As we see, the media continues to shape our culture. This will pass, but hopefully it stays long enough to correct the real estate market. 

To your success!

So I understand this correctly — you quit your job as a teacher to pursue real estate full-time?

My question to you is: why didn’t you just do both? 

I feel you could have been a teacher and side hustled real estate until you were able to replace your current W2 job.

Nevertheless, I wish you success my friend! 

All debt is taken into consideration, especially if your showing losses on your tax returns. Now, if that property with a mortgage is showing a profit on your schedule E, you’ll be just fine! 

In the event you try to evict a tenant with no-fault they are entitled to a relocation fee:

https://hcidla.lacity.org/Relo...

If the price is right and the location makes sense, I’d be willing to consider an ‘as is’ purchase. 

Consider asking them to make all repairs, pay for the re-inspection or cancel the contract and demand a full refund of your EMD.

Ideally, an extension for your due diligence should have been executed, but this delay was at no fault yours and the sellers never sent you a demand to release your inspection contingency so it’ll be hard for them to enforce given the circumstances. 

Begin corresponding in writing. Typically, TK providers want to do what’s fair. I don’t think they would want you clouding the title for 1k ; )

To your success!  

It depends on where your property is located in CA. In some jurisdictions, when a lease expires, your tenant becomes M2M by default - CA is a tenant friendly state.

As a matter of fact, if you ask a tenant to leave without an unlawful detainer - assuming one is legally warranted - they are entitled to a relocation fee.

https://hcidla.lacity.org/syst...

To your success!

As the saying goes: the man with the money is the one who makes the rules. 

Nevertheless, I’m sorry your in this bind. Seems like you either need to finding another lenders, or you’ll have to wait into out; luckily, you have an understanding seller. 

What other feasible options do you really have?

Let’s revisits this conversation in 30-60 days. Unfortunately, real estate isn’t the stock market, things don’t happen “overnight.” 

Stay tuned my friends!

You can always waive rents and send everyone a 100 dollar gift card and consider adding me on that list. 

I’m sure you would be the landlord of the year!

He may very well drag things out to get a free ride - it’s no uncommon. 

Other alternatives are offering a cash-for-keys plus returning the full deposit in hope its entices him to leave.

Otherwise, hopefully your property is in a landlord friendly state where the eviction process is swift and painless if it leads to that.

To your success!