All Forum Posts by: Mark Marinaccio

I'm located in Los Angeles and am about to put a property under contract in Bakersfield. 

I am "new" in that I'm on my first deal there but have been learning and working towards REI for more than a year before pulling the trigger.

Ideally I will wholesale the property or partner up and fix/flip.

Since I am in Los Angeles and the seller is out of state I'm looking for a title/escrow co that works with wholesalers (if I go that route) in similar situations to mine.

I'm actually not sure if I need to have the title/escrow co in the same county as the property and am trying to find that out but in the mean time I need to get my PSA out with the agreed price asap so any help and recomendations would be much appreciated!

Thanks!
Mark

@Michael Quarles can you recomend title/escrow co?

it's been pretty good, can get a lot of info really quickly

I hope no one is offended by my posting here (Josh and Brandon you can tell me if this is no beuno) BUT my other life outside of learning and working towards real estate is creating and producing television shows. 

Right now I am looking for my next development project and am interested in talking to anyone who thinks that they would be good on tv. 

Agents, contractors, rehabbers, landlords, marketers, everyone is an option. 

Drop me a line and we can talk! Hit me up through my profile or email me directly here:

[email protected]

Hope to hear from you soon!

Mark

Noochmedia.com

Hi, I am looking for a recommendation on a San Fernando Valley based title co that has experience with wholesalers. 

I'm assuming that in CA the title co can also receive the ED?

Thanks!

Mark

I am trying to put a property under contract and the owner is an investor and would rather do a NET LISTING instead of a PSA or Option Contract. 

Is doing a net listing illegal if I'm not a licensed REA in California? The seller is a lawyer and  property flipper and he says it's not illegal but I'm not sure that's true.

@John Thedford I asked for 15 day inspection, 17 days to close - so only 2 days more than inspection period.

@Dana Whicker , I'm feeling like that's the crux of the issue - that line which seems unnecessary anyway and should be removed from my contracts as I really don't need it. 

@John Thedford I thank you for you perspective but the seller doesn't want any clause that allows a cancellation of the deal. I've represented to her all the potential options of how I might proceed, including wholesaling, and since she hasn't been able to sell it for months and months I'm willing to see what I can do for her, which may include assigning it someone who has a better ability to fix it up and rent it out than I do. 

From all the responses it seems as though no one removes inspection clauses from PSA's

Hi @Stephanie Dupuis I do not see the Inspection Response in my PSA. Thanks for pointing that out though!

@Jerry Puckett, I'm using what appeared to be the best, most comprehensive purchase agreement that I could find so I'm not sure how it differs from a standard one, this is my fist go round at this. 

I'm not trying to "weasel" out of anything, but I don't know of anyone who buys real estate without an inspection that allows them to back our or adjust price if they suddenly find it's in need of repairs, updating or improvements. 

I think the seller is cautious and doesn't want her time wasted which I can respect, but I also don't want to put myself in a position to lose money so I'm asking if anyone, with more experience than I,  has advice on how to approach this. 

thanks!