Can I Use VA to Buy Investment Property?

Question: “Can I use my VA to buy an investment property?” Answer: Sorry. VA loans are only for owner-occupants. However, you can move out of the home at a later date and keep your VA loan. Verify with your lender or the VA, but I think you must intend to live there for at least
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Is Now a Good Time to Fix and Flip?

Question: “Hi Gary! We just sold our apartment building in L.A. It’s in escrow for $900,000 and we’re debating doing a 1031 exchange and buying a property here in San Diego to fix up and flip. Do you think it’s a good time right now? We’re going to net about $600,000.” Answer: A few things…
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Are 1031 Exchanges Hard to Do?

Question: “I’d like to sell my rental house here and use the money to buy to exchange into a fourplex. But I’m a little concerned about 1031 exchanges. I don’t know much about them. Are they hard to do?” Answer: Good news: 1031 tax deferred exchanges are easy! And they’re quite inexpensive to do too…usually
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Be Careful When Offering Incentives to Tenants

Question: “Due to the crazy laws in California, I have to give my tenant a 60-day notice to move. But I’d like to get her out sooner by letting her skip the last month’s rent. Good idea?” Answer: No and yes. Offering an incentive is a good idea, but never give a tenant an incentive
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Should You Sell Your Rental to Your Tenant?

Question: “Hi Gary. I want to sell my rental and my tenant is interested in buying. Can you handle that for me?” Answer: Yes, I’d be happy to. But first, excuse me if I’m a Negative Nancy or, if you’re a Saturday Night Live fan, Debbie Downer. In my 30 years selling homes for clients,
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5 Reasons to Invest in Real Estate Over Stocks

Question: “I think I know what you’re going to say, but do you recommend investing in stocks or real estate?” Answer: Not being a stock expert, you don’t really want me advising you about stocks. But I can share with you 5 advantages that real estate has over stocks: 1. You can personally impact the
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Can the Seller Cancel if They Didn’t Sign Escrow Instructions?

Question: “I got a good deal on a little condo that would make a great rental. Now the seller is trying to cancel saying he never signed escrow instructions so we don’t have a deal. I’ve asked my agent if that’s correct and he thinks the seller is wrong but isn’t sure. The seller can’t
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Can You Fix and Flip with a 1031 Exchange?

Question: “Hi Gary. I have a question about real estate investing. Can you buy and flip fixer uppers doing a 1031 exchange?” Answer: No. If you buy a property and sell it a short time later without “holding it for investment” a sufficient time (probably 1-2 years), the IRS will likely consider it “dealer property”
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How to Screen Potential Tenants

Question: “We’re in escrow buying a couple of condos as investments. We want to make sure we get good tenants. Can you suggest any tips for screening potential tenants?” Answer: I used to put on a seminar called, “Purchasing Duplex, Triplexes, & Fourplexes as a Home or Investment.” Here are some of the tenant-screening strategies
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What to Watch Out for When Buying Investment Property

Question: “I want to buy an apartment building but I’m a little afraid the agent or seller will cook the books and my return won’t be what they say it is. What should I look out for?” Answer: You’re smart to be cautious. Here’s a list of things I look for when I buy or
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