By Jeffery S. Watson My prior email on “Trusting Your Trustee” generated a lot of feedback, so I want to give you more information and clarity. One of the questions I was asked is, “Do trustees get a nominal fee for handling this type of fiduciary duty?” The answer is yes, a trustee should be paid a reasonable fee for their fiduciary duty and...
By Jeffery S. Watson Many real estate investors consistently use what I call a “grantor revocable title holding trust”, which is a more accurate term than “land trust”, to take and hold title to a piece of real estate they buy for investment purposes. Such trusts can be used whether the property is being held as a long-term rental or being bought...
Your weekly news & updates Here is this week's "Weekly Roundup" from Real Estate Investing Today, the news & views site from the National Real Estate Investors Association. Visit our Website Despite Pleas from Landlords, Los Angeles Extends Ban on Evictions Los Angeles’ Channel 7 (KABC) is reporting that, despite pleas from frustrated landlords, the LA City Council voted 11-1 in late July to...
By Brad Beckett The Visual Capitalist says depending on where you live, owning a home may seem like a far off dream or it could be fairly realistic. In their graphic today, they illustrate the annual salary needed for home ownership in 50 different U.S. cities. Stay safe and have a Happy Friday!!! “In New York City, for example, a person needs...
Your weekly news & updates Here is this week's "Weekly Roundup" from Real Estate Investing Today, the news & views site from the National Real Estate Investors Association. Visit our Website Existing Home Sales Down 5.4% in June The National Association of Realtors is reporting that existing home sales were down 5.4% in June to a seasonally-adjusted annual rate of 5.12 million (down 14.2%...
By Jeffery S. Watson Dear Investor, The second half of 2021 real estate taxes will be due and owing either this week or the next for many of you. I want to share something I have noticed recently. I have had three similar cases come across my desk in the last five weeks, which means it’s something that deserves attention. Investors who own properties that...
By Pete Youngs Beginners and seasoned investors alike are prone to making mistakes. Most mistakes can be easily avoided by just listening to people talking at your local REIA group or in meet up sessions. Some mistakes are minor and have little impact on the end result of selling or renting your property while others can become nightmares. This will not be...
Bank statements [WI] Once I settle on a candidate to rent one of my properties, I require 3 months of bank statements. I've found it to be one of the best predictors of successfully paying rent. Do any of you do this and what are your thoughts. Bank statements [MI] My ideal tenants are two adults in their mid 20s to...
Dear Investors, I want to thank all of you who sent suggestions, thoughts and encouragement after my previous email on homeowners insurance. I am currently going through the process of buying insurance on a property I recently acquired in a subject-to transaction. The existing insurance carrier will not insure me because they do not also insure my primary residence. For those...