The problems of owning an investment property with a partner

Question: “What do you think about investing with a partner?” Answer: It can be a great idea to help you invest in something you otherwise couldn’t. And at the same time, while most partnerships go just fine, I’ve also heard many stories of problems. For example: One party doesn’t fulfill their end of the bargain,
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Does a large lot always equal a higher property value?

Question: “We’re looking at a home on over a quarter acre, most of it is on a hillside and unusable. The agent we’re working with keeps telling us that the huge lot means the property is worth more. Is it?” Answer: If the large lot means you have greater privacy, a view, can add an
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How do I get a bridge loan?

Question: “Do they still have bridge loans, where you can temporarily borrow against a home you plan to sell so you can buy your next home?” Answer: Good news! Bridge loans are back, finally! My preferred lender just told us he can now get our clients a bridge loan. For more info, call me at
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This Week’s Crazy Building: Norddeutsche Landesbank

“Norddeutsche Landesbank Hannover” by Martina Nolte is licensed under CC SA 3.0
Resembling a work of art by M.C. Escher, the Norddeutsche Landesbank in Hannover, Germany seems to bend the laws of physics! The entire complex occupies one city block and contains shops, cafes, public art and reflecting pools. Designed by Behnisch and Partners in 2002, the main building’s unique expression was made in response to the
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Does the home seller or buyer pay for the house to be cleaned?

Question: “Who pays for the house to be cleaned, the seller or buyer?” Answer: Great question! Unless you write in the offer that the seller is to have the home professionally cleaned, the seller is only required to remove possessions and debris. In practice, most home sellers leave homes fairly clean, and some have them
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What’s the first thing I should do when selling my home?

Question: “My husband and I want to sell our home. What’s the first thing we should do?” Answer: Call me. That was easy! But perhaps you’d like me to expand on my answer… The first thing you should do is call a seasoned and successful agent to: Find out your home’s value Get advice on
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How can I buy a rental property in San Diego for 20% under market value?

Question: “I’d like to get a good deal on a rental property, like 20% under market. What do you recommend?” Answer: I recommend changing your goal! Having invested in real estate for 35 years, how many properties do you think I’ve bought 20% or more under market value? ZERO. I’m not saying it never happens.
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This Week’s Crazy Building: Broadway Tower

“Broadway Tower” by Robyn Cox is licensed under CC BY-SA 2.0
The Broadway Tower in Worcestershire, England stands at 55 feet high. This “folly” or building made for purely decorative or conversational purposes was built in 1798. The location affords a view of a pre-medieval trading route and beacon hill. The Tower includes turrets, battlements, gargoyles, and balconies. Visitors can climb three floors to the top
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Do home buyers and sellers share the closing costs?

Question: “I’d like the seller to pay my half of my closing costs. Isn’t it normal to share the costs?” Answer: Yes and no. It depends on what you mean by “share the costs.” When a home sells, the buyer and seller have different costs that they pay. There’s no law that says who pays
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Why did the home buyer ask for such a large price reduction?

Question: “I just sold my aunt’s house, who had passed away. She hadn’t really kept the house up and it needed a lot of maintenance. But the buyer asked for a $30,000 price reduction. Isn’t that excessive? Whatever happened to buying a house as is?” Answer: If you don’t take care of your body, when
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