“I want to buy a duplex or triplex as investment. Is there any place I can go to see how much rents should be?” Answer: I suggest getting a feel for rents by looking at info on lots of properties for sale in the areas you’re interested in. You also should try: – http://www.zilpy.com/ –

“I made an offer to buy a condo in La Jolla and lost out because I found out the seller’s agent told someone how much I offered. My agent said it’s called ‘shopping my offer’ and that it’s illegal. What can I do about this?” Answer: Nothing. Your agent is wrong. The seller’s agent owes

“I’m ready to start looking for a home. I’ve read in your newsletter that one of the first things I should do is get pre-approved by a lender and find out my price range. What advice do you have as to how to choose a lender?” Answer: First of all, NEVER choose a lender based

“I’m moving out of state and talked to moving companies and it’s going to cost a bundle to ship all my furniture. It’s pretty good quality and only 2 years old. Can you give me a rule of thumb for how much extra should I be able to get for my condo if I sell

“I’ve been looking at foreclosures to buy and my agent told me the listing agent doesn’t have to tell you if they know something is wrong with the home. Is that correct?” Answer: Nope. There’s a lot of misinformation out there about foreclosures. Both the buyer’s agent and the seller’s agent have the same disclosure

“I’d like to buy a home, but have some credit issues. Do you know where I can find out how to improve my credit?” Answer: (Part 1 of a multi-part answer…) Here’s a tip from San Diego credit repair expert Derrick Evens of “Perfect Credentials” (858-571-0271, derrickevens@yahoo.com): Credit repair/improvement tip: COLLECTIONS… “Don’t ever pay a

“Hi Gary. After I sell my home, how long do I have to buy another one to avoid paying taxes?” Answer: You’re either thinking of the old I.R.S. Code Sec.121 rules for a principal residence, or the Sec.1031 rules for investment property. Old Section 121 rules gave you 18 months to sell your home and

“How much do property taxes run when you buy a home?” Answer: In San Diego, your property taxes are about 1.1% of your assessed value. And in the year you buy your home, your assessed value is almost always what you paid for the home. That makes for a simple formula: monthly taxes are just

“I’ve heard that some banks prefer to sell to owner-occupants instead of investors. Is that true? And it sounds like discrimination. Is it legal?” Answer: You’re correct. Some banks do prefer to sell to owner-occupants. For most banks, it’s strictly practical: all other things being equal (down payment, etc.), an owner-occupant has an easier time

“How do I know if I qualify for a short sale?” Answer: The only way to know 100% is to go through the process and see if your lender(s) approves you. Of course, it would be nice to know in advance if you’re likely to be approved, so you don’t waste a lot of time