All Forum Posts by: Eric Barrios

Hello BP Family,

I am under contract in a triplex in California. The seller failed to disclose one of tenants was behind on rent, he said that "he thought by the time we closed, they would be caught up". The tenant did not end up catching up on rent so I was told they were behind about 3 weeks into escrow. I told his realtor (his realtor is representing both of us, i know big mistake) he failed to disclose that within the time contingency written on contract but hes saying "that would be hard to prove".

I really don't mind walking away, but I've already paid for inspection and appraisal plus travel costs, time taken off work, etc. Does anyone have any insight as to what my options are? I would assume legal actions, but i know all Purchase agreements say we should enter arbitration first. Any input is greatly appreciated!

I am also looking for my second property in SB county

same 

Hey Chad,

I am in a similar situation but in Riverside county. Have you started the process yet?

Hey Rachel,

What do you think of San Bernardino and/or riverside?

@Rob Moran

Once you convert the garage, would that mean that the property has to be owner occupied?

@Anthony Ybarra

I live in the guest house. The rent from the main house covers about 75 of total expenses. Looking into doing a va refi, that number should jump to 80 percent. I plan on moving next year, it should cash flow then. 

I also read the advice you gave to @Dax Kirkwood since I have become undecided lately with so many people calling for a "crash". I agree that it is impossible to time the market. So you suggest to keep investing as usual? 

@Anthony Ybarra

Its going fine! Its a SFH, but the garage was converted into a mother in laws guest home.

How did you find your property? I had a hard time finding properties with more than 2 units. 

@Anthony Ybarra

Thats awesome man! Good luck on your next investment!

@Anthony Ybarra Thanks, when do you plan on doing your next zoom meeting?

How are you house hacking and how is it working out for you?