Ask your accountant about IRS Form 3115 and IRS Regulation 481A. They concern depreciation of property in your buildings. My accountant said that the change meant that small items that I had been depreciating (because I was a conservative taxpayer) could be totally written off in my 2014 return, and any new items for […]
“Due to a delay in delivery of certain system enhancements required to support the policies published in Mortgagee Letters 2014-21 and 2014-22, compliance with the financial assessment and property charge funding option requirements is now effective for HECM case numbers issued on or after April 27, 2015. The next time I have a deadline like […]
This is Kathy Kelly, Executive Officer at the South Bay Association of Realtors. We met again at a Realtor Expo and found out that she had been coming to my classes for many years, since she got into Real Estate. Also, we are both Wisconsin Natives. It is always to pleasure to work with the South […]
Question: I’ve always heard that I should post my rental criteria in a conspicuous place so that applicants can plainly see whether or not they are qualified before they submit their application. I typically require that the applicants combined income exceed three times the rent, however I might make exceptions. Also, in years past, a […]
When you don’t consider what will happen to your family if you die unexpectedly or become incapacitated, you will cause your family unnecessary financial and emotional hardship because you have not made your intentions clear. Courts will then have to decide who will care for your children and how to divide your estate. For example, […]
Sometimes when everything goes right we have trouble accepting that fact. Perhaps nowhere is this phenomenon more clearly illustrated than in the case where a seller receives a good offer right away. The annals of real estate are well stocked with stories of sellers who refused to take a good, but not perfect, first offer, […]
Q: Most of my current residents are full- or part-time students. The units are large, and are typically shared by four or five room mates… Q: Many of my rental units are in central Los Angeles, near the campus. Of course, most of my current residents are full- or part-time students. The units are large, […]
When a condominium is sold, who should pay the cost of providing the buyer with various HOA (Homeowner Association) documents, the buyer or the seller? The purchase and sale of a condominium unit can often be more complicated, involve more paperwork, and have proportionately higher expenses than the sale of a free-standing single family home. […]
Question Seems like more and more of my prospective residents have past due balances on their credit reports and outstanding collection accounts. Years back I wouldn’t even consider someone with a collection account, but if I did that now, I’d have an empty building! What do you think? Answer According to a recent study […]
Now that the market has slowed a bit – i.e. returned to normal— contingency offers are more common and, I would argue, more palatable than they have been during the past few years. By contingency offer I mean an offer to purchase that comes from a buyer who still has to sell his house […]
