All Forum Posts by: Matt Jesse

I'm looking to get licensed in California.

I tried realestateexpress.com a few years ago, but it was so boring and slow paced I couldn't finish it.

Thanks!

Can you elaborate on that Curtis?

Thank god for you guys and this forum

Exactly. Trying to predict worst case scenario

Joe M I think you nailed it.

Section 3.H.3.ii
"the loan contingency shall remain in effect until the designated loans are funded."

I think I just need to tell my agent (representing both sides) to check this box. That should cover my *** just in case.

Thanks!

Joel,

Here's what my contract says;

"LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyers default, Seller shall retain, as liquidated damages, the deposit actually paid...Release of funds will require mutual, Signed release instructions from both Buyer and Seller, juducual decision or arbitration award."

So assuming "buyers default" can be interpreted as just about any reason for not closing, it sounds like the only recourse would be not to sign the release, and it would go to arbitration?

Let's say I remove all my contingencies. My lender tells me we are ready to rock & roll.

Then something unexpected happens. I loose my job, my credit score dips, or my lender denies my loan for some other reason.

Do I loose my initial deposit, or is the seller required to show "damages" to claim it? Can I make a case to the escrow company that I acted in good faith and still get it back?

Thanks,

Scott,

Thanks for the concern, but those aren't the numbers.

Again, I'm not looking for cash flow analysis. I'm looking for ideas for a creative financing solution so I can buy this property.

Thanks!

Ricky,

$1750 for big 2bd/1ba. $1425 for small.

Houston looks like a good place to buy a 4 plex. It would be cool if there was an easy way to compare 4 plex's across different metro areas.

Bruce,

I appreciate the concerns you raise.

There are 3 long term tenants. No late rents.

Building has recently had $180k in renovations. New roof, drywall, plumbing, etc. etc.

After PITA, utils, vacancy, etc. I will break even on cash flow each month. Once I move out after 1 year, it be around +$1000 cash flow.

None of this means anything if I can't come up with another $13k.

Again, I'm searching for a creative solution...