Beneficial Ownership Information Report: Do I have to file it? Q: I am the secretary of the board of directors of a homeowners association. Our management company is telling us that we have to file the Beneficial Ownership Information report required by the U.S. Treasury Department. We are a not-for-profit entity, and the board are [...]
Real Estate Commission: How Much Should Buyers Agree to Pay Q: First time home buyer here. I'm thinking about commissions. I just finished reading your 100 Questions Every First-Time Home Buyer Should Ask book, and I sure took lots of notes! It’s super fun when real estate commission rules change as you are learning them. [...]
Selling Rental Properties? Real estate investor wants to know if he should sell his rental properties and invest the proceeds elsewhere Q: I am 60 years old with a pension. I've invested in rental properties in the past and currently own six rental properties. I have no mortgages on these properties and paid around $100,000 [...]
Vacant Homes and Empty Storefronts: Why so many? Q: I’m curious. There are several vacant homes in my area. They look abandoned. They are or were beautiful, but year after year, they sit empty. Similarly, there are a number of empty storefronts in my area, all with substantially high, competitive rates. Why leave these storefronts [...]
How to Protect Yourself from Real Estate Scams Real estate scams can wipe you out financially Real estate scams are really scary. Especially with how quickly artificial intelligence is being adopted and applied. March 7th was National Slam the Scam Day according to the Social Security Administration. While most people understand that there are ever-more [...]
Revocable and Irrevocable Trusts A reader wants to know if it is a problem that their revocable and irrevocable trusts aren't funded. Q: On the advice of an attorney, many years ago my wife and I each created a revocable trust. We never funded the trusts because all our major assets, including stocks, bonds and [...]
Minimizing taxes on inheritance Buyer wants to know how to minimize taxes on a rental property he inherited. Q: I inherited my mother’s home. That part went well, but boy was I uninformed. As I’ve now learned, and Ilyce’s site (ThinkGlink.com) made this clearer, when one inherits a house: (i) You can benefit by paying [...]
Real Estate Matters: Readers Comment Readers weigh in on some of our recent Real Estate Matters columns Real Estate Matters: Realtor who wants to end lease early Comment: I do read with interest your column, having worked in legal aid for about twenty years – mostly representing tenants being evicted. This is to comment about [...]
How can property go to a spouse after death? Brother gave his sister the deed and never put his wife on title to their home. Q: Our local newspaper printed one of your articles, “Joint Property Co-Owner Dies Without Will.” My brother recently passed away. He was married but never made the effort to put [...]
When do I have to pay capital gains tax on real estate? What's included when calculating the cost basis for his home and what costs of sale count. Q: I have a couple of capital gains tax questions regarding upgrades to my home. First, I had $400 worth of bushes installed last spring in my [...]
