Are tax-deferred 1031 exchanges difficult and complicated?

Question: “Hi Gary. I’d like to sell our rental condo and buy another property. I’ve heard about tax deferred 1031 exchanges, but they sound difficult and complicated. What do you think?” Answer: You’re right, they sound difficult and complicated. But the good news is that they’re easy and simple! Here are the most common fears
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This Week’s Crazy Building: El Cosmico

“1956 IMPERIAL MANSION and Tee Pees” by PunkToad is licensed under CC BY 2.0
Would you pay to stay the night in a vintage trailer? How about a tepee? If those aren’t your style, El Cosmico in Marfa, Texas has other options too. Attesting to a “manana” way of life, this laid-back place believes that more attention should be on enjoying the present moment while also keeping your dreams
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This Week’s Crazy Building: Hearst Tower

“Hearst Tower” by John Wisniewski is licensed under CC BY-ND 2.0
The unique Hearst Tower in Manhattan was several firsts for New York City. The first green highrise, first LEED Gold-certified skyscraper, and it also took first place with the Emporis Skyscraper Award winning best in the world. The diamond grid on the facade not only gives it an uncommon look but also used 21% less
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Should I avoid buying a home from a flipper?

Question: “I don’t want to buy a house from a flipper because they cut corners and do a poor job.” Answer: There are indeed some renovators/flippers who do work as you describe. There are others who are very thorough and do a great job. If you want a nice remodeled house, but won’t buy one
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Why do HOA documents cost so much?

Question: “On the condo we’re selling, the escrow company said it will cost over $500 just for HOA papers for the buyer. Is that legit?” Answer: Yes, unfortunately. And it’s something that always upsets me because my clients are being taken advantage of by HOA (Home Owner Association) management companies. (These are not the HOAs
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Are solar loans a problem when you sell your house?

Question: “I’ve heard that those solar loans are a problem when you sell. Is that true?” Answer: Yes, most if not all solar loans (often called HERO or PACE loans) are a problem unless your buyer is paying cash. That’s because they won’t go “junior” to a buyer’s new loan, meaning the solar loan stays
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Does the home seller have to provide a termite clearance?

Question: “Last time I bought a home, it was normal and expected for the seller to provide a termite clearance. Now I hear that’s changed. Why did that change?” Answer: Great question! We California Realtors used to have a contract addendum specifically to request a pest control / termite clearance. Then a few years ago,
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Is it worth the money to hire a home stager?

Question: “Is it really worth the money to hire a stager. Can’t I stage my house with my existing furniture?” Answer: Yes, you can, but it may not be optimal. It depends on: Your furniture Not all furniture is good for staging. It should be: In new or excellent condition Coordinate well with your home’s
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Can I use tax-deferred exchanges on fix and flip properties?

Question: “I’m going to get into house flipping and do tax-deferred exchanges to roll my gains into the next flip and avoid paying taxes. My tax person said that will work…” Answer: I always defer to tax professionals…except when they’re DEAD WRONG! The IRS says that a property must be “held for investment or used
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This Week’s Crazy Building: Quinta Real Zacatecas

“Quinta Real Zacatecas” by Luis Fregoso is licensed under CC BY-SA 4.0
Travel to the 19th century at the Quinta Real Zacatecas Hotel in Mexico. Nearly demolished in the 1970s this former bullfighting ring dates back to 1866. It was renovated and reopened as a luxury hotel in 1989. Not long after that, it received an international architectural award for the restoration work. The original ring is
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