All Forum Posts by: Paul Hitchings

I have some opinions on this, but there are so many legal considerations I almost hesitate to comment.

I wonder the following;

1) Why does she want/need to move out?

2) Can uncle pay the entire lease amount on his own?

3) Does tenant understand that unpaid rent might be able to be deducted from her deposit?

4) Does tenant understand that she might not be entitled to her deposit until after the termination of her lease? (ask an attorney about this)

I might recommend going to speak with both of them in person, to gauge the situation and get a sense for their feelings on the matter. No matter what, trying to work towards an amiable solution is always the goal, that being said, you are entitled to your part of the bargain that was agreed to by all parties.  

I will also add that I have been the tenant in similar situations, though rarely have I ever asked to break a lease early. When I have, I always let landlord know that I will be 100% okay with them showing the unit during my domicile, so that they can get a new tenant lined up before I move out. I also always gave previous landlords 1-month notice if I ever needed to break a lease early.  While I don't blame landlords for being reluctant to do this, sometimes tenants have things in their lives, like a new job opportunity, that they just can't refuse.

Not sure my ramblings helped, kind of a lot of things to consider in your situation. But keep a good paper trail and consult often with an attorney and/or your Realtor and you should be fine.

The lists of people who take and/or pass the exam seem to be distributed to marketing companies, so I don't find this surprising at all. As far as choosing a brokerage, I would tend towards one of the largest in your area combined with a broker who really puts systems in place to help their agents succeed.  Some brokers just let their agents run free, which in my opinion, is not the most efficient way to manage your profit earners...I don't mean a broker manages their agents, but actively takes a role in ensuring that the office fosters growth in all its members, at least those ones willing to show up to the office.

Here are the only two things you need to make money in the middle, a legitimate buyer and seller.  Too often, a rep is fronting for the buyer and the person with a list of properties is not the seller. If you can deal directly with both parties, you can make deals happen. If you are dealing with middle people yourself, it is possible that you will burn relationships, because you, by nature of being in the middle already, will be one more step removed if you are not dealing direct.  As far as networking events, check out Meetup, I know SJREI (san jose real estate investors) is an active group. Though it isn't about the group so much as the experience. Go to as many events as you can, regardless of what you dig up about the person presenting. I have always learned something in the presence of those with more experience than I.  Best of luck and try contacting some owners directly, look for run-down  or vacant homes and then get owner info from the city. Write a simple letter and get their info. Then build a buyer's list of homes that need rehab and bingo, connecting dots and making deals happen. Happy investing :)

So, the duplex is a classic buy, but if you don't plan on rehabbing it, or it doesn't need rehab, you are leaving dollars on the table.  Maybe rehab isn't your thing, but many new investors use sweat equity as a way of increasing their reserves.

Would this home benefit from future renovations and how do you feel about them?

"...that I was destined to be in real estate"   Lol. Seriously though, it is a calling and lucky are the few who discover this truth.

This is how California deals with housing crisis. First, you get a bunch of homeless persons. Then you find an angel, a 1 in a million type person who starts building homes and giving them to these persons. Small homes on wheels that are perfect for someone living on the street. Then a city official makes a new law stating something about personal property having to fit in a garbage bin sized volume, thus making all new rolling houses illegal, then new homes are taken away. Because Murica.

Contact the business development person for several small towns in your area. Find the town(s) that are doing the most innovative things to bring in BIG business (i.e. jobs) to the area. Invest in those towns. Think macro.

what is the longest amount of time you have spent in Vallejo?

You can find a middle ground, such as sending letters more promptly but still avoiding eviction unless absolutely necessary.  If someone(s) owed me $4000 and someone else was in charge of getting it for me, I would definitely be having a discussion with someone about it, in person, surprise visit.  

I don't really care what the contractor thinks about the job being half done, I just want them to finish it without complaining.  My advice is go with the contractor that says the least ****** things about the previous guy (or gal). Because if they're trying to make themselves look good by trash-talking another person, I don't want to them.