Friday, March 4, 2011
Your questions about like-kind exchanges
Robert asks…I understand that it's possible to sell commercial real estate and do a 1031 Exchange investing into a REIT?What are the steps you need to undertake to effectuate such a transaction? Is this any different than any other "like-kind" exchange? Or am I misinformed about the ability to do such an exchange? Any guidance or referrals to websites would be appreciated.admin answers:Check out the site I included in the resource box and see whether it would help you. It has info on commercial real estate that might be related to your
Thursday, March 3, 2011
Your questions about replacement property
Robert asks…Is a replacement of a fence tax deductible on a rental property?I recently rented out my old house, and replaced a wire fence with a 6ft board fence. My question, is the fence a tax deduction?admin answers:It's capitalized and depreciated. It's not a repair as t replaced an old wire fence.Charles asks…Accidental damage at work - Do I have to pay for replacement / repair?If an employee accidentally damages company property, In my case a rather expensive vanity unit, Is the cost for a replacement down to the employee or
Your questions about investment property
Richard asks…What is the type of loan called that you used for investment property?For investment property you don't usually get mortgages, but you get a different type of loan. What is the name of that type of loan? Thanksadmin answers:For flipping, investors would avail themselves of a *hard money loan*.Michael asks…I own an investment property that is now inhabitable. What are my options to stop losing money?Due to the neigboring unit's overflooding, my unit flooded causing major mildew damage. The property is inhabitable and the area
Wednesday, March 2, 2011
Your questions about relinquished property
Ruth asks…In dispute over fence and property line?My neighbor came to my door and blasted me about putting things on her property. She claimed when she bought the house next to me in 2007 that the surveyor told her that her property went up to my house and I had a zero lot line. She was VERY rude. I asked to see her survey and she nodded that she would show me. The neighbor on the other side of me put a fence from the back fence to the front fence - the original fence only went to the back of his house as did mine and the neighbors on
Your questions about relinquished property
John asks…What TX law prevents private businesses from seizing personal prop. and holding it until a fine was given?Excluding the fourth Constitutional Amendment, what Texas or federal law prevents the seizure of personal property by a private organization that requires a fine to relinquish the item back to the owner?admin answers:Fines can only be imposed by courts, not by any private entity.Mandy asks…What rights do I have as an animal owner in regards to limts?The town in which I reside is trying to pass an ordinance restricting
Tuesday, March 1, 2011
Your questions about replacement property
Ken asks…Is a property owner liable for theft or damage of personal property?A property management company in my town has tenants sign a lease that prohibits tenants from storing bicycles inside an apartment building they manage. They provide outdoor bicycle racks and for tenants a secure indoor storage room monitored by video.
Aside from the lease there are no signs in, on, or near the building stating that bicycles are not allowed in the building. However, the apartment managers quickly inform you that bicycles are not allowed inside
Aside from the lease there are no signs in, on, or near the building stating that bicycles are not allowed in the building. However, the apartment managers quickly inform you that bicycles are not allowed inside
Your questions about investment property
Joseph asks…Wondering what is the best way to finance an investment property?For an investment property (not to live in) should I use a home equity line, traditional fixed rate 30 year mortgage or something else. Let's say I want to hang onto it for maybe 10 years....admin answers:I would not take out a HELCO on my residence for any reason. Do not invest unless you have 20% cash down payment then get a 30 year traditional fixed. If you hang on to it for 5 years it will be worth it.
Good luck!!!George asks…How much equity needed to
Good luck!!!George asks…How much equity needed to
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