How Can I find out about my Credit Report? “Gary, Thank you for your newsletter, I enjoy it a lot. I have some info that your readers may find helpful. To further clarify your 2nd answer to the q: ‘Hi Gary. How do I find out my credit score?’ Please check out the website below.

What about the 1031 Exchange 45 day Identification process? “Hello Gary… We’re interested in selling our investment properties, we have a duplex in Bankers Hill and 3 condos in Mission Valley. We like the 1031 exchange concept. However, we are scared off by the 45 day identification process.” ***ANSWER: I understand the hesitation due to

Negative Amortization “We’re starting to shop lenders and loans before we buy a condo in University City. One gal we talked to told us about a loan that has negative amortization. What exactly is that, and is it something we should avoid?” ***ANSWER: Some adjustable loans allow payments that don’t cover all the interest due,

Real Estate Fees: You Realtors are overpaid and make way too much money! When I sell this summer there’s no way I’ll pay all that. I’d like to have your job. Why should a Realtor make 6% profit when all you guys do is run some ads, stick up a sign, and wait for someone

Open House “Hi Gary, We’re starting to look for a house in either San Diego or Chula Vista. We saw one that just came up for sale down our street and we’re waiting for the open house so we can see it. If we like it, can you help us buy it?” ***ANSWER: Yes, we

“When I was a kid in the 60’s, my dad was in the navy and we moved a lot. When we sold a home, my mom baked bread when people were coming to look. The whole house smelled great and my folks said it helped with the sale. Now I’ll be selling soon, but I

What about cracked slabs? “I saw a home I loved in West Clairemont, but there was a crack in the slab. Should I avoid buying a home with a cracked slab?” ***ANSWER: Some cracks are very serious and cost thousands, tens of thousands, or even hundreds of thousands to fix correctly. Other cracks are more

We’re beginners in the San Diego home buying game. Can you give us some tips on deciding how much to spend on our monthly mortgage payment?” ***ANSWER: I want you to come up with 2 monthly payment figures. They should include loan payment, taxes, insurance, and possible HOA fees, Mello-Roos fees, or mortgage insurance. Be

“Hi Gary. I have 24 apartments in City Heights. They’ve been a headache lately and I’d like to get out of them into something else. Is it true that you have to buy up to do a 1031 exchange?” ***ANSWER: Almost. While you do have to buy up to do a full deferral, just buying

Cap Rate vs. Gross Rent Multiplier “What’s the difference between a cap rate and the gross rent multiplier?” ***ANSWER: Cap rate is the opposite of a price/earnings ratio, used with stocks. Here are some random cap rates and GRMs in San Diego: CapGRM Area 415 Pacific Beach 513 North Park 5.312 El Cajon As you