Can You Do 1031 Exchanges with Property Outside the U.S.?

Question: “Can I do a 1031 exchange from my San Diego rental into a property in Italy, or can I only exchange for something in the U.S.?” Answer: You can only exchange your San Diego property for another investment property in the U.S., or possibly U.S. territories or U.S. possessions. Temporary Regulations issued in 2005
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Buying One Rental with Cash vs. More with Mortgages

Question: “Do you think it’s smarter to buy one rental property for cash, or buy 2-3 with mortgages?” Answer: Yours is a good question about risk and leverage. Let’s look at some things you can do with $250,000: Example #1 – Bad $250,000 can buy you a $250,000 CD that pays you 1%. No leverage,
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Selling Your San Diego Home With Tenant or Without

Question: “Hi Gary, We have been on your mailing list for quite some time and we have always enjoyed reading what you have to say. The time has come where we would like to sell one of our rental properties. It is currently tenant occupied and we must give the tenant notice. Once it is
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Limits on 1031 Exchange

Question: “We just bought a house to fix and flip and will do a 1031 exchange so we don’t have to pay taxes.  So our question is…” Answer: Sorry, but I’ve got to interrupt.  I’m about to make you very sad right now, but you’ll avoid much greater sadness later. Per IRS rules, you cannot
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Is Your San Diego Home Improvement Worth It?

Question: “We got a contractor’s bid of $24,000 to put in new cherry finish cabinets and granite counter tops in the kitchen and both baths, plus a new range/oven.  Do you think that’s a good investment and we would get more than the $24,000 back if we do these things?” Answer: The $24,000 sounds like
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Are There Still Fix-And-Flip Houses Left to Buy?

Question: “I’d like to start buying, fixing and flipping houses.  Lots of people making are making big bucks doing it.  Do you know any good houses I could buy?” Answer: Sorry, but that train has pretty much left the station. When values were rocketing up and foreclosures were plentiful, I’d tell you to jump right
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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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