All Forum Posts by: MJ Barnett

when is the next one? I missed out on tonight's.

The Agent can force you to have some sort of inspection done to submit with your cancelation though if you have a licensed contractor do an inspection that may work as well. 

I have had a property where the Buyer's lied and where playing games. Their Agent lied and so did their Lender and they weren't approved and the bank statements were altered to show funds when the Buyer's had none and were playing bate and switch. I forced the Buyer's to complete an inspection on the property as I knew the house would come through with an amazing clean inspection to then turn over to the new Buyer's. Though this was done in VA where contingencies are removed passively unlike CA where contingencies are only removed in writing.

Though it all comes down to the fact if you have a blanket inspection contingency in effect you can back out for any reason at all! You can back out of the escrow even if the inspection comes back perfect. It's your right as a Buyer and no Seller can force you to buy.

MJ

{Caveat to protect my license... this is based on info you mentioned and my opinion based on those facts. I do not know the whole situation and am not giving you legal advice.}

RD,

Welcome! Have you already been pre-approved and know what your price point is that you are looking for? 

MJ

unfortunately the fact they are renting their home & not a unit within a 4 plex or larger they have the right to discriminate. Unless AirBnb has regulations.

Bobby,

Welcome to BP! What kind of deals are you looking for? Burbank is a small town so I am assuming your looking throughout the Valley and in LA?

Best Regards,

MJ

Elizabeth,

Welcome to BP!! I wish I had started as early as you investing. I'm sure there are some good deals in Fullerton as its a college town!

MJ

 Daniel-

I have a few clients who own multiple investments in California. There are deals if you look. Most of my investors started with cash. They bought small properties all cash & RE-financed to conventional after buying. They have been investing for a long time and use multiple lending companies for their loans

Ian,

Go to the realtor association near you and purchase a copy of the California Residential Purchase agreement. If a realtor gives you a copy their are legal ramifications of something happens in your transaction.

MJ

Anthony,

From what I have seen the best house hack for a multi family are often times the complexes that you personally wouldn't live in, in the LA area. There are also a ton of properties on so go through them quickly and you will find at least one or two that work.

MJ

If you can prove the Seller's new about it, then your next step is to hire an attorney who can send a letter that you are looking to sue them for the cost of repairs by XYZ company and your legal fees if you want to add them in. Send a copy to both Agents as well and see if they can negotiate with the old Seller to pay for the repairs. Many times that letter and bringing in the Agents can create movement on the old Owner's part to pay for the repairs.

MJ