“Hi Gary. We sold our home last year and were able to avoid paying any capital gains taxes. Now we’ve moved into one of our rental houses and plan to do the same thing this year. Is there any limit to how many times we can do this?”
***ANSWER:
Congratulations. You’re taking full advantage of IRS Code […]
“We’re planning to buy our first home and are wondering, do we have to use an agent?”
***ANSWER:
Why wouldn’t you?
Some first-time buyers think they have to pay their agent, so they avoid working with one for as long as possible. But the seller pays both agents 99% of the time. And a buyer’s agent performs […]
“How much under-market do I need to buy a home to make money on a fix-and-flip?”
***ANSWER:
There’s no simple formula, because of all the variables:
- Financing
- Fix-Up Cost
- Fix-Up Time
- Added Value
- Market Time
- Negotiation
- Transaction Management
- Appreciation
- Financing –
Obviously, you want to get as low cost of a loan as possible and avoid any prepayment […]
“I just got a letter in the mail from someone who says he wants to buy my home. I’m a little suspicious. Do you think it’s legit?”
***ANSWER:
Probably not.
Odds are it’s an investor looking to buy your home way under value or a dishonest agent posing as a buyer.
A client called me in April because […]
“How much deposit am I required to make to have a binding contract?”
***ANSWER:
This may surprise you and many readers, but you’re not legally required to make a deposit at all.
While contracts require what is called “consideration” to be valid, that doesn’t mean you need to have a deposit.
Per the good attorneys of the California […]