If we want to help low-income or bad credit tenants find housing, we must create an environment where they are not considered an unsurmountable risk to landlords. There has been much talk over the past year about Eviction Reform in Massachusetts. Most landlords laugh when they hear this since Massachusetts is known as a very…
DetailsFinding a Tenant Avoid renting to any prospective tenant that speaks in bravado, or brags of their accomplishments, their history, employment, or the amounts of money they have. This person will eventually abuse you.* Beware of any prospective tenant that is a, lawyer, accountant, property manager or former police officer. These people have the knowledge, skills…
DetailsWhen I began practicing law as a tax lawyer (many years ago!), I thought my job was to help my clients save taxes. However, my mentor soon straightened me out. He helped me realize that a lawyer’s job was to help clients realize their goals, for themselves and their families. Of course, the less they…
DetailsTrade Show a Huge Success! Our “Million Dollar” Trade Show and Landlording Conference last month was a huge success! You should have been there! Our members were more educated, motivated and stimulated by some very knowledgeable speakers who helped give them that one idea that will help them make and keep more money than ever!…
DetailsQuestion One: I have a tenant who vacated a house I own in Long Beach. The rent has been kept very low. The rent is currently $1,200 per month. The home will need about $3,000 in repairs and painting to have it ready for the next resident. My research indicates that the rental value of…
DetailsThere are many clients who inquire about different 1031 exchange options. Some investors have inquired about the 721 UPREIT (Umbrella Partnership Real Estate Investment Trust) mechanism in both DSTs and Private and Publicly Registered Non-Traded REITS. The question that many investors ask is – Can I 1031 Exchange into a REIT? The 721 UPREIT can…
DetailsLyndsey and Sharon Ballinger didn’t expect a cakewalk when a job change took them clear across the country and back, especially with two young children. What took them by surprise, however, was that moving back into their own house would cost them their savings and property rights.
When I started practicing law decades ago, the tax part of estate planning focused almost exclusively on minimizing estate, gift and generation-skipping taxes (collectively, “Transfer Taxes”). Back then, the highest Transfer Tax rate was 70%, and the exclusion was only about $120,000.
The Oregon Senate has passed SB 608, a rent-control and evictions bill, which limits landlords’ rights in Oregon. The Senate majority leader’s office released a statement after the bill passed, saying, “Rent stabilization will help prevent price gouging,” and that “healthy and thriving families need safe and stable housing.”
The following is a letter to our 15 year-old Grandson, Jack who asked how we became successful landlords. Dear Jack: We can tell you are well on your way to being a successful businessman, by asking for our advice. So here goes!!!
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