WARNING: Why Buying a House Will NEVER Be the Same | I Allegedly

➡ Dan from I Allegedly talks about how a new law in California Senate Bill 968, will change the home buying process by requiring sellers to disclose all work done on the house in the last 18 months, including providing all building permits and contractor information. This law, which could spread to other states, is expected to impact house flippers and contractors, potentially leading to lawsuits if work was done without proper permits. The law could also disrupt housing sales and increase the need for building permits. Lastly, the law could affect real estate agents, as it may lead to more scrutiny over their commissions.

➡ This text discusses various topics including a potential change in the real estate market, the high rating of Patriot Gold Group, job applicants bringing parents to interviews, a Supreme Court case about a Trump slogan, a recall of Ford F-150 trucks, and the rise of insurance premiums. It also mentions the financial troubles of Antonio Brown’s wife and encourages people to take control of their own finances due to the current economic chaos.

➡ Jocelyn Brown was sued for $28 million, which led her to file for bankruptcy. This situation might cause her spouse, the head coach for the Raiders, to lose his job due to the legal issues with a car dealership and financing company.

Hey, it’s Dan. Welcome back. This is I Allegedly, and I’ve got a good one for you today, because buying a house will never be the same again. This is going to change everything. It’s going to start here in California, and this is going to sweep across the country. Mark my words on that. And please like, subscribe, comment in the video, but we have a sponsor today, Patriot Gold, and I will talk about them in a little bit. There is a new Senate bill that was proposed, and it goes into effect on July 1st. Senate Bill 968, AB 968.

What this does is very simple. When you buy a house, you have to disclose all the work that was done to it in the last 18 months. Okay, no big deal. Make a list. Make a list of all the improvements you did in the house. Now, you need to provide all the building permits for all the work that was done. Oh, you need to give us the contractor’s name and contact information for everything that was done on that house. Now, here is the thing. I have friends that are house flippers. I have friends that are very successful at this.

I have wholesalers in my life. I have people that buy very low and get stuff done very quickly. I know a buddy that has a pool company that he works with, and the pool company is a deal with them where they do all the work on the house. So they do all the electrical. They do all the framing. They do all the concrete work. They do all the pool work. And they may not necessarily get one building permit on that. Uh-oh. You got to disclose all this. And the biggest problem with this is the house flippers.

House flipping, you can turn on any late night TV and say, do you want to flip homes? It’s the easiest thing in the world. You can buy courses on this. You can learn how to do this relatively easily. The only thing it takes is money, time, patience, and luck that you can get out of the properties right now. Not so fast, because Senate Bill AB 968 is going to make it so that you have to disclose everything. We don’t need to get permits on this stuff. What’s happened, especially here in California, is my friend’s son just bought a house.

And it was a flip. And they had cabinets that were put together. Some things were nice. Some things were well done. Some things were thrown together. Now, the problem with this is that when you have that and you have people cut corners and, you know, maybe they’re wiring things that they shouldn’t be doing. Maybe they’re doing cable TV and access to electrical that they shouldn’t be touching. That happens all the time. They had overloaded circuits, wiring switches, things like that that they shouldn’t be doing. Plumbing they shouldn’t be doing. Changing the pressure from one room to the next.

Having pipes get ran too long. You know, the age of pipes, too. You got some old cast iron pipes that should be replaced. Ah, don’t worry about that. Cover it up. Pain over that, baby. Not so fast. So this is going to change absolutely everything come July 1st because they have to disclose this. And for those of you that sit there and say, hey, it’s no big deal, it is a big deal because what’s going to happen is you’re going to have the contractors I had lunch with yesterday said, wow, there’s going to be so many lawsuits from people.

Because let’s say you own a construction company and you did the work on the house and all of a sudden one of your employees says, you know what, I’m going to go back to that guy and do some side work. They’re not going to remember the guy with the side work. They’re going to remember the original contractor and sue him if something is wrong. So you’re going to have so many people that are going to have to go back and pull building permits. You want to have a nightmare in your life, go back and get a building permit after the fact.

When my late girlfriend was alive and she sold her parents house, the people did something that was really horrible and locked her out of the house early. Then came in and did all this construction without pulling a building permit because they were a roofing contractor and we don’t need to worry about this. We can rip down walls, we can do this stuff. And Lisa, being the lawyer that she was, called the city and asked them, hey, do you need permits for this, this, this, this, this and this? Yeah. Well, here’s the address of whether or not doing that.

And the inspector showed up and opened up his, you know, his wallet and had his ID and said, you guys need to stop work right now. And it put the construction behind six months after that, six months. So you’re going to have houses that are going to fall out of escrow right now. You’re going to have people that are going to be in escrow. Remember, it’s the middle of June right now. You’re going to have people in escrow right now that they go, you know, that’s a really good idea. Maybe we should have them disclose all the stuff that was done in the house.

No, no, that only applies after July 1st. No, this is going to destroy housing. But a lot of ideas like this get passed along. Now, here’s the thing. This is designed to hurt the flippers. It’s designed to hurt the people like the pool guy that shouldn’t really be doing, you know, certain things he’s not qualified for with the other trades, roofing and other things like that. OK, that’s the problem you have with that. Oh, we put our new roof on. Oh, we put solar on. And did you get the proper permits for that? And we don’t need it.

Just buy the house. Let’s get rid of this thing. You know, you qualify. We’ll make the deal. Give it $25,000 off the price. That’s going to change everything. The other thing this summer is they’re starting to have agreements. If you walk into an open house, you’re going to have to sign in the line that is dotted just to walk through that open house now to let the ability to go through if you don’t have an agent. If you don’t have representation, I’m not going to do that. I’m not going to do that, guys. I’m telling you this right now.

I have a pre-qualified loan, got a down payment. I’m ready. I know where I’m looking. And I’m going to end up buying a foreclosure, guys. I’m not going to buy anything that’s out there right now. It’s just how it’s going to be. But the point is, is that I’m not going to have a buyer’s agent. My attorney is going to take care of it. It’s going to take care of everything on this. And now you have agents that write me and say, that’s never going to happen. You’re going to have to sign on this because those commissions are going to get paid by somebody.

Who? Who’s going to pay that? And you think everybody’s going to pay that? You think homeowners want to give you guys 6%? They don’t. And this is changing right now. And it’s changing a big time. Prices are still high right now. Don’t get me wrong. I know that better than anybody. But I also know that the number of banks that have hundreds of foreclosures in the backlog that they’ve put off and put off and put off and let people make deals on for months is happening. And with that, you’re going to see problems that are going to emerge from this that you’ve never seen before.

And then throw in the commercial real estate. The hotels that are going to go out of business. The businesses that are going to go out of business. And you’re going to have nothing but problems during this time. So what do you think about Senate Bill 968? I think that this is going to change everything. And it’s going to make it so that people are going to go, wait a second. Because anybody has… Let’s see how an inexperienced buyer… Well, I’m just going to get it. The guy’s a flipper. Everything looks good. The house is pristine.

It’s white. What do you mean he got no permits on the roof? What do you mean he did all that concrete work in the back and has all those wires ran underneath it and didn’t get that signed off? You sure you want to do that? You know what I mean? This is going to create nothing but problems. The flippers know it. The contractors know it because they’re about to be sued. There’s real estate agents out there right now that are facing lawsuits by steering. And you can sit there and say, oh, it’s no big deal.

There’s a lot of 1% deals, 1.5%. All commissions are negotiable. You’re telling me commission’s negotiable, but I have to pay somebody. Somebody’s going to make that 6%? No. It’s negotiable. You just said that. So make up your mind on this stuff. So let me know what you think about this because this is going to change real estate. And a lot of you can either think this is a good idea or a bad idea, but all ideas like this start in California and spread like wildfire across the country. So let me know what you think about that.

Let’s talk about our sponsor, Patriot Gold Group. You know, in this world, everybody wants the best customer service. Everybody wants to feel like they got a good deal. Patriot Gold is very excited to announce that they have been number one rated with consumer affairs now for eight years in a row selling precious metals. You need to deal with number one, guys. You need to call Patriot Gold today, 888-330-1431. Get yourself precious metals in your retirement. They also have the No Fee for Life IRA. They have the 401Ks. But you can get precious metals, take possession of them yourself, have them stored with Patriot Gold, whatever you’d like, but contact them today.

They’re number one rated for a reason. Their customer service is amazing. Look at what all the central banks are doing and the talk of a potential interest rate cut. I’ve seen, if there’s an interest rate cut at all, that gold should hit $3,000 an ounce. That is crazy. You don’t want to miss out on this. Call number one rated Patriot Gold today, 888-330-1431. Do it now before it’s too late. Contact Patriot Gold. I am so grateful for all the news stories that you guys email me. But some people do it a little differently. Jesse, for the last couple years, has sent me mail, and he actually sends me newspaper clippings.

And I love these, okay? But we’ve corresponded back and forth. Don’t send me 300, Jesse. Send me a couple good ones that you know I’ll use, okay? And here’s a perfect example of two that I’ll use, okay? Jesse applicants for jobs bring their parents. Think about this, guys. You’ve got 25% of Gen Z applicants, the kids in their 20s, that are bringing mom and dad to a job interview. How ridiculous is that? How ridiculous is that? It’s just unbelievable. And then the high court, Supreme Court, just rejected a man who wanted to have the slogan on T-shirts, Trump Too Small, okay? Trump Too Small, okay? Which, I don’t know who would buy that, okay? If you hate Donald Trump, that’s your own thing.

I mean, you know, whatever. But Trump Too Small. So what he was trying to, the high court said was, we want to avoid having Trump Too This, Trump Too That, Trump Too Stupid. You know, it was just, you’re going to end up with all this stuff, so they would not give this guy the trademark. Here’s the wild thing. That went to our Supreme Court. Do you believe that? Hello. I mean, of all the things going on in the world, that was taken up by the Supreme Court. Ford has a problem with the F-150 truck.

They just recalled 550,000 trucks. Now, the problem with this is that the trucks, because they’re all computerized now, the F-150 is a very powerful truck. It’s their best seller. It’s the thing that’s keeping Ford alive right now. But 550,000 of those cars are recalled because they have automatically downshifted high speeds. Be on the freeway and shift into first gear. What would that be like with a load? Most people don’t drive trucks to build anything and load anything anymore. But what would that be like? There’d be a head through the windshield, is what that would be, dropping from 70 miles an hour down to first gear.

So the damage to the truck, everything. But this is the problem with this. You’re seeing all these problems now with all these recalls, safety issues, everything. Anybody own an F-150 that got that recall notice? I’m really curious because car dealerships are still down. They say that this latest CDK hack, it’s going to take seven to eight months once it gets flipped on for the dealerships to get back to normal again. Is that crazy or what? You haven’t seen anything yet, but now you’ve got recalls added onto this. You’ve got Stellantis that is laying people off left and right.

The American car industry is in deep trouble. I follow one guy who I’ve met who’s a really knowledgeable car guy. All the motor heads are really smart guys. They’re all smart businessmen I’ve learned. And TK’s Garage is a really good site. If you want to follow some of this, it’s really knowledgeable. But TK’s Garage is really up on this and he can’t stand Stellantis. He can’t stand how they abuse their employees, all these deals, the problem with the unions, everything. And you have to run a good company. I know everybody needs to make money, but you have to also pay your employees a fair wage and you have to also create a product that doesn’t have any problems with it.

You know what’s wild is guys like that explain, hey, listen, you don’t want to buy this car between the year 2008 and 2012 because of all the issues with it. They know stuff like that. Do some research before you buy anything. It’s like buying these houses now. You need to do research now on everything that was done on it. Everybody gets so jacked up and gets feverish. Oh, I got to get this. There’s five other people in front of me bidding on this stuff. Someone’s going to have problems. You’re going to have more people that are going to buy houses that are going to have problems and you’re going to have more lawsuits.

That Senate bill that I talked about earlier, you’re going to have people go back after the fact and say that they should have had all this stuff disclosed. And when a building burns down or catches fire, do you smell that? You’re going to have problems. Plus, you’re going to see water damage problems. You’re going to see lawsuits from stuff like this. And people are going to feel like they should have had all this stuff disclosed, just like buying these cars. I think that we’re going to live in a much better, consumer-rich environment moving forward in the next few years.

That’s a little loud as I walk in the golf course. But you know what I mean? You’re going to see a lot of stuff. Let me know what you think about all this. I’m really curious. And again, share your thoughts on all this stuff. Let me know if you ever bought your mom or dad do a job interview because I never have, to say the least. Just a quick video today. We’re going to talk about a few things before I end this video. The first thing that I will expand on in a later video is consumer confidence has taken another hit.

People do not feel confident in their job. People do not feel confident with their own finances. People do not feel confident in the local economy and the global economy. Once again, guys, take control of your own life. Take control of your own finances. I’ve had more family members lately, friends, friends of friends reach out and say, hey, here’s what I’m doing. And I know you’re going to do your six-month financial targets and you’re going to do all this stuff. And I want to tell you what I’m working on. Do you think this is enough? Take care of yourself, guys.

You’ve got to look at your own finances right now because it’s complete and utter chaos. Think about this. Insurance premiums have gone through the roof. Now, when you think about the states that have had the highest premiums go up, who do you think they are? Now, you’re like me and you’re going to say, oh, it’s that wacky California. Oh, Florida. Not even close, guys. Think about this. The highest state for homeowners’ premiums right now that’s up 62.1% is Arizona. Arizona, okay? The next at 59.9% is Nebraska. Nebraska. What natural disasters they have in Nebraska.

I haven’t heard of any at all. So their insurance through the roof right now, guys. Number three, it’s just Crime Fest 24. I think that’s a trade show that’s coming up. That would be the state of Illinois. So Chicago and all the mayhem that goes on around there. So that’s the lowest state. What’s the lowest state? Lowest amount of increase in premiums from all 50 states. Alaska, 6% increase this year. So they all went up, guys. Oh, my gosh. Mine went up 12%. Mine went up 18%. Didn’t go up 62%. So they all are going up because they’re all criminals as far as I’m concerned.

Not everybody in Nebraska has issues. Name the problems in Nebraska. Oh, it gets cold in the winter, Dan. Final story. The Las Vegas Raiders. Head coach is a man named Antonio Brown. He was just named the coach. His wife, Jocelyn Brown, just got her brain suit out for $28 million from Nissan Motor Acceptance Corporation and she filed bankruptcy on her own. Wow. Guys, look at that. I just almost got hit by a golf ball right there. Isn’t that crazy? Things I do for you guys. I should go throw that thing in the gutter for that guy and have him look for it.

Anyways. Idiot. Shank her. It’s all the way across the street, too, guys. So that’s funny. Train of thought I lost. Okay. Jocelyn Brown got sued for $28 million. The best part of this is that it may affect his ability to coach because she filed bankruptcy and this goes back to what is your spouse doing? Is your spouse doing something that’s going to get you in trouble? This guy may lose his job as the head coach for the Raiders. I could care less about football, but, you know, it’s absolutely chaos because of the car dealership that sued her and the car financing that sued her.

So, hey, you shanked it off the tree and it bounced back. Yeah. So, oh, it did. It almost hit me. It was great. It was good. It’s enjoy. So, anyways, like, subscribe, and share your thoughts and all this stuff. If you want to email me, hello, at iallegedly.com, use the link below and sign up for our email address because I’ve got a good email going out before the end of the month and you really want to be part of that, too. So, let me know what you guys want to see in the future and I will see you guys very soon.

Bye-bye. [tr:trw].

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