Do Appraisals Tend to Be High or Low?

Question: “Do appraisals tend to come in high or low?” Answer: Great question. Most people think that appraisals tend to be conservative and come in on the low side.  And in this case, most people happen to be wrong. From 29 years experience, I can tell you that appraisals tend to come in on the
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Do You Need Tenant Permission to Repair Your San Diego Home?

Question: [From a client whose rental house I listed] “Can you get me bids to make some repairs the flooring?  My property manager says I need to get the tenants’ permission to repair it.  Is that correct?” Answer: As the owner, you have the right to make repairs and you only need to give the
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Owning Rental Properties Comes with Its Challenges

Question: “I’m a beginning real estate investor and want to get into rental property.  I’m a little concerned because I think I might be too ‘nice’ and won’t know how to deal with problem tenants.  I think I read in your newsletter that you have rental property.  Do you have problems with your rentals?” Answer:
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What Should a Rookie Investor Buy?

Question: “I’d like to start investing in real estate.  What do you suggest for a rookie investor like me to buy?” Answer: I’d suggest keeping it simple and buying a small condo.  As a matter of fact, the first property my son bought was a condo that he rented out.  It’s worked out quite well
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Anyone Living on Your Property Quickly Gains Tenant Rights

Question: “A friend of a friend has asked to stay for free in my condo for a month while I look for a permanent tenant.  I’m kind of a softie, so I’ll probably say yes.  My only concern is that I’ve heard that after 30 days, they have the right to stay until you go
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Advantages of Investing in Residential vs. Commercial Real Estate

Question: “What are the advantages of investing in residential rather than commercial real estate?” Answer: Great question. Each has its advantages.  I always recommend residential for new investors as overall it’s much simpler than commercial real estate. Though I wouldn’t necessarily say residential is easier.  You could argue that dealing with residential tenant issues are
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How to Buy Tenant Credit Reports

Question: “Hi Gary…As long as I have had a home in Clairemont (early 80’s), you have been the one Realtor that has stayed in real estate, and kept me up to speed with your newsletter! Now that my home is a rental, I need a referral.  The company I used to buy credit reports [to
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Is It Okay Not to Get an Appraisal?

Question: “My friend was buying a home and the seller asked him to waive the appraisal contingency.  Isn’t that a bad idea?  That means he won’t know if he’s overpaying.” Answer: An appraisal is just an opinion, and usually a less accurate one than a good Realtor who knows the area. I once listed a
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A Good Choice For Your First San Diego Home & Investment

Question: “I’d love to buy my first house, but can’t quite afford one.  And I really don’t want a condo.  Do you have any houses where the owner will let me make payments to them at a low rate?” Answer: Nope, and you’re unlikely to find anything like that. But I have a totally different
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How to Find a Tenant for Your San Diego Home

Question: “I want to buy my first investment property, so I’m going to buy a little house.  What’s the best way to find a tenant?” Answer: Craigslist, hands down. You could also put a For Rent sign up, but Craigslist is going to be your best bet. By the way, in case you’ve heard of
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