This is an excellent question for a Landlord/Tenant Rights Attorney or your property manager. If you have one, ask them.
I will give you my experience on this matter, however, I caution you that laws change regularly and some cities have laws that are different from the state laws (and I sold my last California residential rental unit right before the market started to crash about two years ago). You are best served by speaking with an attorney or property management firm that specializes in your area.
I follow the terms for notice to vacate in the rental agreement and the laws in the state of California for notice to vacate. The last time I had to serve such a notice, California law required a 30 day notice for tenancy under one year and a 60 day notice for tenancy of one year and over. I then met with the tenant and did a move out walk through and sent them their deposit, less any justifiable withholdings substantiated by actual receipts, within 7 days. No fuss, no muss as they used to say. Hope this helps and Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty... more
It'll not affect you in any way. Your monthly payment will be based on the 3.8%. The 4.7% is the yield of return to the Bank/Investor, after taking into consideration the monies paid up front.
Example: if you borrow $100,000 at 3.8% but have to pay upfront fees (points, etc.) in the amount of $4,000, the Bank is not really loaning you $100,000 because they are getting the $4,000 back at the closing table, which means that they only loaned you $96,000. So by only loaning you that lower amount and still getting the annual return of 3.8% on $100,000, the yield is higher than 3.8%. Sit down with your loan officer, and he/she can show you in writing in a matter of minutes. I hope I didn’t confuse you.... more
I am in Texas, but I never used an exam practice guide. If attended a decent school of real estate (or even a good online program) that you actually paid attention in, then you should already be prepared. Most of the questions on the exam here in Texas (which also includes a national licensing portion) were mostly common sense as long as you knew the laws and terminology that was taught in your real estate program.
If you attended a poor program though or just clicked through the slides on a website, then you do need to study, and study hard. Know your laws, know your licensing requirements, and know the terminology involved in real estate and you should be fine.
Best of luck to you! If you have not already chosen a broker, I would like to take an opportunity to discuss Keller Williams with you and what all they have offer. There are definitely some advantages to being associated with a brokerage that has been ranked the highest in customer satisfaction among full service real estate services 3 years running by JD Power and Associates. Feel free to email or call me.
It's more than real estate. It's RAYL-Estate!
Brian Rayl, REALTOR®, e-PRO, SFR
Keller Williams Elite Dallas Park Cities
I'm surprised that you haven't received one single answer yet.
I'm going to throw my hat in the ring :) and say I would be happy to assist you if you'd like.
What type of financing are you looking for?
Every company is different and has a different feel. I would suggest you go speak to the manager or broker of the different companies in your area. Find out what sort of training or mentoring they offer and meet some of the agents and you'll "click" at one or more office. Congratulations on your new career choice!... more