If you're buying a condo while in school or want to know if you should buy a condo now, be sure to do your homework. Q: My son is a graduate student and working for a retailer while in school. He wants to buy a high-rise condominium in Atlanta, Georgia. He’s going crazy with [...]
Converting a condo building to apartments or a hotel requires getting a majority ownership of the condo building. Q: I've been a loyal listener to your radio show since 2006. I also purchased your book "Buy Close, Move-In." I am looking to buy a building that was formally a hotel (converted into condominiums quite some [...]
Should I refinance for 15 or 30 years? When refinancing a rental property, think about your long term and short term goals. Q: I am interested in refinancing a rental property that qualifies for the Home Affordable Refinance Program (HARP). I owe $91,000 on the first mortgage and I have a second mortgage at $19,000. [...]
2013 is shaping up to be an exciting tax year for same-sex couples. This month, the Supreme Court has agreed to hear two cases that can change both federal tax laws and marriage laws. Who will be affected? These federal tax changes will affect same-sex couples who are legally married, as well as registered domestic partners (RDPs). It [...]
Each year, the IRS sends out charming letters telling you that you didn’t report some income on your tax return. Sometimes those CP-2000 letters come as good news, like one did for a client of mine with Alzheimer’s disease whose family found $100,000 worth of bank accounts when the IRS notice showed unreported interest income. But often [...]
In 2013, the payroll tax holiday that lowered workers’ taxes by 2 percent came to an end. This effectively raised each individual’s payroll tax from 4.2 percent to 6.2 percent. That might not sound like a lot, but employees have already found that the change takes a big chunk out of their paychecks. How much [...]
Taking financial advice from someone takes a lot of trust—trust you shouldn’t give someone just because he or she has a business degree. There are plenty of financial planners that don’t make the grade. These red flags will help you decide whether you can trust your planner or whether it’s time to move on to someone else [...]
WSB Radio’s Ilyce Glink Show: Buying a foreclosed home or condominium, managing your personal finances and using smart spending tips. On this week’s Ilyce Glink Show on WSB radio, Ilyce talked about her concept “rebuilding America one house at a time,” which is about learning how to make smart decisions about finances. Rebuilding America starts [...]
There are many mortgage fraud cases these days. Selling a house to yourself is considered mortgage fraud, which is illegal. Q: I just formed an S Corporation and I would like to raise some capital. Can I buy a house with my corporation at a good deal then sell it back to myself with a [...]
When wondering how to plan for the future financially, always remember to spend less than you earn and pay down your debt. Q: My wife and I have been married more than 30 years, but we don’t have any kids. In our adult lifetimes we have owned 11 homes in the United States and United [...]
