“We have a question. We’re going to sell our home. When we get our new place, we plan to buy brand new furniture because our current furniture is ugly and old and out of style. Do you recommend we sell our home vacant?” ***ANSWER: Here’s a novel way to effectively get your new furniture for

“Hi Gary. I saw a condo for sale in P.B. priced extremely low, about 25% below market. Then I found out it’s one of those short sales. Do you think it will actually sell for that price?” ***ANSWER: No. Before I explain, let’s first review what a short sale is: A short sale is when

“I’d like to take my duplex and add funds from my 1031 exchange so that I can turn it into a fourplex. Can I do a 1031 exchange into an investment property I own without paying taxes?” ***ANSWER: Basically the answer is NO, you cannot exchange into a property you already own. However… If you

“I’m going to sell my home and I’m a nervous about the buyer’s inspection. My home is in good shape but it’s not new. Won’t the buyer’s contractor come up with a lot of things wrong so he can charge to fix them?” ***ANSWER: Great question. It’s the same concern you have when taking your

“Hi Gary. I rented a place and the seller also gave me an option to buy it. He said I could buy it any time in the next 18 months. Do you have any advice?” ***ANSWER: Yes. Get it in writing! I’ve got a sneaking suspicion that your option is verbal and likely not enforceable

“We bought a new condo a year and a half ago. We just had a baby and want to sell and get into a house. We’ll make 0K profit after expenses. My question is whether we must wait until the two year mark before we sell so that we can avoid paying taxes on our

“We’ve just started looking for a home. I found out that some newer homes have that extra Mello-Roos fee that can cost several hundred dollars a month. I definitely wouldn’t buy a home with Mello-Roos. Why would anyone buy one?” ***ANSWER: Basic economics. Assume you have two identical homes side by side. One has Mello-Roos

“We’re looking to buy our first home. The only way to buy what we want is to find a cheap house that needs a lot of work. Our problem is we’re cash strapped and won’t have money left for fix up. An agent told me we could offer more and have the seller write us

“Hi Gary. I wanted to get back to you and let you know that we’ve decided to have you sell our rental at XXX XXX Street. I heard about some new law where you have to give the tenants more than 30-day’s notice to move. How does that work?” ***ANSWER: As of January 1, once

“We’re buying a condo built about 10 years ago. It looks like it’s in great shape. Do you think we need to get it inspected?” ***ANSWER: There are many types of inspections: – pest control (aka termite) – home inspection – mold – structural / engineering – plumbing, heating, electrical, roofing – and more I’m