All Forum Posts by: MJ Han

BP Folks, have you seen this potential new legislation in the works for California?  

NYT Article: A Bold, Divisive Plan to Wean California from Cars

Feels like it benefits major developers the most but also wondering impact for smaller investors particularly those in the Bay Area who want to make the most of this (assuming some form of it eventually passes).

@Aidan W.  The tenant was really intrigued by what we were offering and we started to have some positive signs that he was interested esp since it sounded like there was a potential job prospect out-of-state that he was considering.  However in the end he didn't take that gig and decided to just stay put.  

@Susan O.  Thanks for sharing.  Will be interesting where that nets out.

@Johnson H.  The house has a pool on lot overlooking the country club.  Is that the same one?  I'll ping you with more details on SM.

I found an off market property in Lamorinda (East Bay's Lafayette, Moraga, Orinda) on beautiful 4+ acres in prime location close to downtown/shopping, 3000+ sq ft, with views, and located at end of cul de sac.  It needs quite a bit of work but has a ton of potential (add 2nd house?) and seller is open to owner financing.  

Anyone interested in learning about this?  I'd love to understand from a seasoned investor and/or flipper how they'd evaluate this as a potential deal, what kind of financing structure, and if they do want to use this as a flip I'd love to partner.  

Please ping me if you want more details and want to set up time to chat.  Thanks!

I also may have another opportunity in San Mateo so pls reach out if interested.

MJ

Lawyer I consulted with basically said that as long as a tenant resides in your apt you can't really evict them.  If we start the cash for keys process and provide them cash upfront, a contract can be written so that you have recourse to that.  

The most helpful thing he said was to insist on providing some cash upfront but adding a hook that an additional cash outlay will be available upon proof that tenant has found another place via new lease; then finally, providing the remaining balance upon vacating apt.  

Hey all, thanks for all the feedback. I spoke to a lawyer yesterday and boy am I glad I did. Oakland has a number of laws that make it very challenging for landlords. Lesson learned here - consult a professional. :)

@Matthew Olszak  Thanks for your input.  In this situation, the tenant has been paying and so it would be the tenant voluntarily moving out with some upfront $ (when contract is signed) and then remaining $ once he's fully moved out.  I just want to make sure there contract is good in case for whatever reason we pay the upfront $ and he changes his mind and wants to keep the $ while staying in the unit.  Laws here in Oakland are tenant friendly so just want to make sure we're doing the right thing.  

Hi!  Anyone here ever do a cash for keys in the Bay Area and can share or provide advice on a contract to use?  

Thanks in advance!

Hey @Ori Skloot - thanks for sharing and what an awesome story!