You are all explaining the mortgage seasoning issue and I have a feeling that the original question concerned the ownership seasoning.

hello everyone and what's up to my fellow cali investors. i'm new to the forum which by the way is awesome. the great thing about the forum is that everything is real time - not something that someone read and copied from someone else that read and copied from someone else. i'm looking to get into investing like i've wanted to do for awhile now. i read the post by nicegsxr and he's on the money for so cal. prices are extremely high right now. personally i'm from the inland empire (san bernardino and riverside). a great big thank you to everyone who takes the time to share your success and also your information.

Along the path we are and will be facing Severe Winter and Ice Storms and to top it off Extreme Wildfire Threats.We have already seen this year with Jan producing 7 Major Disasters, Feb producing 3 Major Disasters, March producing 3 Major Disasters and April producing 2 Major Disasters.

Our public institutions for "higher learning" are primarily filled with "instructors" who are FAR more interested in instilling extreme political views on our young people than providing the the skills for such mundane and pedestrian pursuits like .. earning a living.

I assume you are paying all cash, otherwise the realtor's concern is for your loan downpayment.

IRS tax law falls somewhere between these two extremes.

As Wheatie said, that would not even get you close to doing a first deal unless you were EXTREMELY LUCKY.

i've read real estate investment material that encourages using the phrase "and/or assigns" in an offer and i've also read that you should never use this phrase because it means that the seller won't consider your offer. what is the general rule of thumb concerning using this phrase?

Now, while this is actually sort of standard cash-flow policy in other industries, due to the way residential construction lien laws work; if the bills are unpaid on the project you own, you can actually be held liable if invoices go unpaid, the builder goes out of business and the vendor sues.However, using a good title company negates this risk entirely and these projects can be extremely lucrative for all involved.

If yours is higher, which I doubt, then sue the crap out of him...If not you will need to make the appropriate changes to your existing lot.Temporarily, you can put a catch basin at the rear of the property to catch the water and then istall underground gutters that tie in from your roof and drain then drain to the street.The other concern is the county that approved such a drainage plan...sounds like the county engineer was drunk when he approved it.