Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.
Can I do a 1031 exchange when I co-own?
Friday, 03 May 2019
Question: “I co-own a rental property with my brother. Can I sell another rental I own and use the money to do a 1031 exchange to buy him out?” Answer: My 1031 rep said you cannot do an exchange on a property where you already own a partial interest: “Unfortunately, because of the vesting and
- Published in Q&A - Home Investing Questions
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If an agent isn’t busy, does that mean they will give better service?
Friday, 26 April 2019
Question: “We interviewed two agents to sell our home. We mentioned to the first one that we’re also talking to a certain well-known agent who has sold signs all over our area. That first agent said she could give me better service and do a better job than the other agent because she’s not as
- Published in Q&A - Home Selling Questions
What is Fannie Mae?
Friday, 26 April 2019
Question: “I hear all this talk about Fannie Mae. What is Fannie Mae exactly?” Answer: Fannie Mae or FNMA, stands for the Federal National Mortgage Association. It’s a major market for buying and selling home loans and they have certain critical guidelines. If a loan doesn’t meet FNMA guidelines, it’s harder to sell, which typically
- Published in Q&A - Home Financing Questions
Are FHA loans only for first-time buyers?
Friday, 19 April 2019
Question: “Can I get an FHA loan if I’ve owned a home before?” Answer: Yes, contrary to what many people believe, you don’t have to be a first-time buyer to get an FHA loan. I think the confusion is because many first-time buyers do get FHA loans.
- Published in Q&A - Home Financing Questions
How to keep the low property tax assessment for an inherited property
Friday, 19 April 2019
Question: “Are propositions 60 and 90 the ones that let people who inherit property from a parent or grandparent keep the low property tax assessment?” Answer: You’re thinking of California Propositions 58 and 193. Propositions 60 and 90 allow people 55 or older to transfer their low Proposition 13 tax assessment to a new home
- Published in Q&A - Home Selling Questions
Can I get an FHA loan if I’ve owned a home before?
Friday, 19 April 2019
Question: “Can I get an FHA loan if I’ve owned a home before?” Answer: Yes, contrary to what many people believe, you don’t have to be a first-time buyer to get an FHA loan. I think the confusion is because many first-time buyers do get FHA loans.
- Published in Q&A - Home Financing Questions
How do you transfer property and keep the same tax assessment?
Friday, 19 April 2019
Question: “Are propositions 60 and 90 the ones that let people who inherit property from a parent or grandparent keep the low property tax assessment?” Answer: It’s not propositions 60 and 90. Those allow people 55 or older to transfer their Proposition 13 tax assessment to a new home under certain conditions. You’re thinking of
- Published in Q&A - Home Selling Questions