All Forum Posts by: James T

Rusty,

Thank you for the reply. I currently manage my own properties(in Los Angeles,CA) and had someone ask me to manage a few they currently have. I don't have a license(broker or salesperson) so I am trying to figure out how I could manage legally without a license. I called my lawyer about the master lease idea but he thought a broker would still have to sign off on it to make it valid. Also told me to contact the DRE before I go forward with anything(left a message today and no call back yet).

Any help or suggestions would be appreciated.

Hey Brian P,

Could you explain in more detail how you go about getting around it?

Thanks,

james

Thank you for all for the great information. Once again BP's show it has the most informative people. :D

Happy New Year BP!

Once again I need BP's help. I have a property I rehabbed and listed for sale. The buyer interested in my property is about 60K short of paying for this property all cash so I was wondering if it would be a good idea for me to carry the 60k(OWC)? They are putting down 50k for the property(almost 50%). Do you have any suggestions on the best way to handle this. I was told to use a loan servicing company if I plan to makes this type of loan and they charge around $20.00 per month to do this. Any suggestions or better ideas would be appreciated.

Thanks BP! :D

Jon, you are right about not waiting, I plan on contacting my LL right away to find out what his intentions are and how my deposit looks. i am in Los Angeles, CA.

Jenny, you are right on and I will also look into what the bank might offer me if I have to stay in order to get my deposit back in rent.

Andrew, those steps are great advice specifically the free rent....I don't think it will happen but who knows. Also plan to get some rentals in the future but I think we may have further to go.

Thank you for all the replies, if anyone else has any ideas I am all ears :).

If he has not paid his mortgage in 3 months what are the odds I will be getting my deposit back?

I need BP's help on this one.

My current LL just went into default last week(NOD filed 2/7), I have been month to month for the 14 months. The place is a 4+3 house. The security deposit I paid initially was equals about 1.5 months rent.

What are my options at this point?

Any thoughts on how to handle this situation?

Thanks!