“We’ve been driving around pulling property flyers from for sale signs. Why don’t the realtor flyers show the taxes on the property?”
***ANSWER:
Because the taxes the current owner is paying is irrelevant.
In California, properties are reassessed when they’re sold. The approximate rate is 1.1% of the price per year. And that goes up 2% per [...]
“Gary, can you answer a question about loans and points? On the home we’re buying, we’re trying to decide if it’s worth paying points on our loan. We’re kind of lost. How do you figure that out?”
***ANSWER:
Whether you pay points primarily depends on how long you plan to keep the loan. (Other factors: having $$ [...]
“Hi Gary. My wife and I are very interested in a home we just saw. I was told the seller wants to rent the house back for 30 days. If we make an offer, what rent should we expect them to pay?”
***ANSWER:
Rentbacks are usually requested by the seller, as is your case. So the generally [...]
“I’m a small-time real estate investor. I have a couple of rental condos in Mira Mesa and North Park, but I’d like to trade into an apartment building. I’ve been talking with people and asking a lot of questions. There’s a term I’ve heard called debt coverage ratio. What is that?”
***ANSWER:
You’re getting into some moderately [...]
“I’m a small-time real estate investor. I have a couple of rental condos in Mira Mesa and North Park, but I’d like to trade into an apartment building. I’ve been talking with people and asking a lot of questions. There’s a term I’ve heard called debt coverage ratio. What is that?”
***ANSWER:
You’re getting into some moderately [...]
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