Unless there is a mandated redemption period, isn't this technically an REO since they did a deed in lieu of foreclosure?

A building inspector from the city looked at the property and mandated that basement suites, two one-bedroom units, be divided by a firewall and had their ceilings fireproofed as well.

And you don't think there is some kind of legal mandate that folks like us present the buyer with some kind of information, pamphlet, or get a sign-off?

Hi Jeff,I dislike to be the bearer of negative news but Ca recently changed their laws to mandate anyone purchasing and selling a home for profit (even 1 per year) must be licensed.

While they don’t have unlimited access to public spaces, the Fair Housing Act mandates “reasonable accommodations” for emotional support animals even in buildings that don’t allow pets.If the dog is truly an ESA, I would request a medical letter from the doctor that told her it was ok to have an ESA.

This plus other under reporting of expenses would mandate about a 300 k drop in price to get the agreed upon cap rate at purchase.While I’m glad I caught this stuff during due diligence it’s beyond frustrating.

Relocation A borrower may be eligible to obtain another FHA-insured mortgage without being required to sell an existing property covered by an FHA-insured mortgage if the borrower isrelocating, andestablishing residency in an area outside reasonable commuting distance from his/her current principal residence.If the borrower subsequently returns to the area where he/she owns a property with an FHA-insured mortgage, he/she is not required to re-establish primary residency in that property in order to be eligible for another FHA-insured mortgage.Note: The relocation need not be employer-mandated to qualify for this exception.""

Mask mandates, temperature checks, only one family member could go into the grocery store at a time, shoe sanitation at the entrance of most buildings and stores, naval forces blocking access to the beach so crowds couldn't enter.

Great venue and the people are great also. 2 months ago was a huge turn out, now with the mask mandate going on it seems to have tapered off a bit but still had a great meet up and got to really know some other investors in depth at the last meeting.

There's tons of variables as far as A-C buildings, rent control, cap ex, vacancy rates in different aras of LA (Then there's the mandated earthquake retrofit thing that I don't know how it could effect some of the buildings LATimes Earthquake Retro on Apts )So for for quickly crunching CAP rates --for instance on an old 1930 building in Los Angeles, what do most of you use as expenses?