Friday, 14 June 2019
Question: “I’m thinking about doing a 1031 exchange, how long does the whole process take?” Answer: It’s MUCH faster than you might think. In fact, it only takes a couple of days to set up. So it shouldn’t delay your transaction. That being said, never wait until the last minute to set up your exchange.
Friday, 17 May 2019
Question: (This question isn’t exactly about “investing”, but…) “A guy from a solar company just came by saying they work together with California. He wanted to find out if our home would qualify for SOLAR. At no cost to the owner. What do you know about this, given that we’ll be selling the home? Should
Friday, 03 May 2019
Question: “I co-own a rental property with my brother. Can I sell another rental I own and use the money to do a 1031 exchange to buy him out?” Answer: My 1031 rep said you cannot do an exchange on a property where you already own a partial interest: “Unfortunately, because of the vesting and
Friday, 12 April 2019
Question: “I’d like to have you handle the sale of my rental house. We told the tenant there would be no lockbox and the home would be shown with 24 hour notice during business hours…” Answer: Let me stop you right there before you cost yourself any more time and money. In theory we’d like
Friday, 05 April 2019
Question: “We currently live with family, which isn’t great, but oh well. My wife and I are handy and while we’re living here, we’d like to buy a little fixer-upper to resell and make some money towards buying a bigger house down the line. Where do we start?” Answer: Keep in mind that buying fix
Friday, 22 March 2019
Question: “I’ve heard that condos are bad investments. Is that true?” Answer: Not at all. I personally own three rental condos and they’ve been great investments. They’re especially good for beginning investors because they’re lower in price (on average) and require less management and maintenance since the HOA takes care of the exterior and grounds.
Friday, 01 March 2019
Question: “Can I buy a rental with my VA eligibility?” Answer: Sorry, but VA loans are only for your primary residence.
Friday, 15 February 2019
Question: “If a tenant has a lease, they can still give a 30 day notice to end the lease, can’t they?” Answer: No, they can’t. A lease agreement binds a landlord and tenant for a certain time period. Neither has the right to unilaterally end the lease early. If a tenant breaks a lease, my
Friday, 11 January 2019
Question: “I want to start investing in real estate and I was talking with a real estate agent about buying 4 to 6 apartment units. She told me it’s better to buy 4 units, but when I asked her why, she didn’t really know. Do you?” Answer: I don’t know that it’s better to buy
Friday, 04 January 2019
Question: “How do I sell a property without disturbing the tenants currently living in it?” Answer: If you’re selling a small or large apartment building, often it’s marketed as, “Show with offer.” So the investor makes an offer, a showing is arranged with the tenants, and then the buyer decides if they still want it