How to Find Out What Are Rents Going For

Question: “I’ve got a vacancy coming up in one of my apartments. Do you know any websites where I can look up what rents are going for?” Answer: I know of a few… http://www.craigslist.com …of course http://www.rentometer.com http://www.padmapper.com …just maps Craigslist ads? http://www.finestexpert.com …upper right corner
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Are Foreclosures Also Short Sales?

Question: “Hi Gary. I’m a new real estate investor. I see all your foreclosures. Are they also short sales?” Answer: First, a quick explanation: There are 3 stages of foreclosure during which a home may be sold: BEFORE a foreclosure sale, when the homeowner is in foreclosure. AT the foreclosure sale, when the home is
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1031 Exchanges & Short Sales Don’t Mix

Question: “I just sold an investment property and want to 1031 exchange into a short sale. What short sales do you have?” Answer: Danger…1031 exchanges and short sales don’t mix! As you may know, when you do a 1031 exchange, you have certain time limits to find and close on the property you’re buying. Specifically,
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What’s a Reasonable Return for Your Investment Property?

Question: “I’ve been looking for an investment property for several months to buy and hold. I’m open to a house, condo, duplex, triplex, or fourplex. Just nothing with 5 or more apartments due to financing. I’m trying to get at least a 10% return and…” Answer: Hold on…10%? If you’re banking on a straight 10%+
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The Impact of Lowered Assessment on Your San Diego Home

Question: “Hi Gary, I just got a notice from the county tax assessor’s office saying they were lowering my assessment. I attached a copy for you. Is it real? And if so, will this affect me if I need to get an appraisal or will it affect the value of my home?” Answer: That indeed
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Time Frames for a 1031 Exchange on Your San Diego Home

Question: “When you do a 1031 exchange, what are the time frames and when do they start?” Answer: Great question. This is something I’ve found that few agents even know. There are two time frames, running concurrently, starting the day you close on the property you’re selling: 45 days to “identify” the property(s) you’re buying.
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Houses vs. Condos: Which Appreciate More

“Which do you think will appreciate more, a house or a condo?” Answer: For some reason, many people automatically assume that houses appreciate more. It’s probably because houses are generally preferred over condos. However, this preference is taken into account by the fact that a house will sell for more than a condo of the
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The Five Returns of Real Estate

No question today, but here’s some info you may find interesting: What are the 5 returns of real estate? 1. Positive cashflow 2. Appreciation 3. Sweat equity 4. Principal paydown 5. Depreciation deduction Many people only think of #1 and #2. #3 never comes up. But a benefit of rental real estate is you can
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