Lease/Options can be fun and profitable, but there are certain pitfalls. The following are some practical, legal and tax tips I have learned from doing many lease/options deals over the years. Protecting Your Option Lease/options are great, except when the seller decides not to live up to his end of the bargain. Sure, you can […]
The real estate business is fraught with scams, fraud and unethical practices. As such, it is a highly-regulated business. As a real estate investor, you are treading on areas of law which you should be familiar. A good real estate attorney will help you along the way, but you should stive to educate yourself as […]
The capital gains, exchange rules and installment sales rules apply for properties held for “productive use.” I.R.C. §1234. If you are actively buying and selling real estate on a regular basis, you may be considered a “dealer” in real estate properties. A dealer is one who buys with the intent of reselling rather than for […]
The “Wraparound” Transaction Obviously, you need the cash to buy the property. Most people buy properties using a mortgage loan, which means you need enough cash flow from the sale of the property to pay off the loan you borrowed. Enter the wraparound formula. A “wrap” is a transaction that involves leaving the first mortgage […]
Real estate, like any other commodity, is bought and sold every day of the week. Many people become real estate agents because they know a small piece of a large pie means big bucks. Agents help facilitate a sale by finding a willing buyer for a willing seller, earning a commission of approximately four to […]
Many self-acclaimed real estate gurus state that everyone should quit their jobs and immediately jump into full time real estate investing. They often claim incredible results from students with little experience. We would like to caution that life-changing decisions are not usually simple and that full time investing is not for everyone. Let’s discuss some […]
Find an Attorney – Injury Lawyers – Medical Malpractice Information The Law Offices Of David S. Schonfeld & Associates 1235 N. Harbor Blvd. Suite 110 Fullerton, CA 92832-1349 Email: davidesq@evictionlaw.com Tel: (714) 871-9004 Fax: (714) 871-9005 INTRODUCTION Please note that the information contained on this web site is specifically for CALIFORNIA evictions that are not […]
There has been a lot of negative press and misinformation lately about double-closings. Many people have been indicted recently under what the press has called “Property Flipping Scams.” Uninformed lenders, real estate agents and title companies will tell you that double-closings are now illegal. In fact, they are nothing of the sort. The so-called property-flipping […]
As an investor working with tenants, you should be very familiar with the laws of your business. These laws apply whether you own a property and rent it, or you do a “sandwich” lease. An eviction proceeding, usually called a “summary proceeding” or “unlawful detainer” proceeding, is a lawsuit to obtain a court order to […]
This last month I found myself in the interesting position of having SEVEN vacant rental properties (ouch!). The typical newspaper ads were not pulling enough calls, any many of the callers were Section 8 tenants (barf!). Nauseous at the though of forking out another $4,500 on vacant properties next month, I decided to pull out […]
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