Blog

Monday, November 14, 2022

Mike Explains: Tenant Estoppel Certificate

Imagine, if you will.

You're happy you just closed escrow on a beautiful triplex that already has tenants. And they're supposed to be paying $7,800/month in rent. Then, you collect the rent and you only receive $6,900 from the tenants. They're telling you the security deposits they've paid are $2,300/unit, and your paperwork says it's only $1500/unit.

You try to ... read more >>

Friday, September 30, 2022

Mike Explains: Why a Handyman Costs More Than You Expect?

Imagine, if you will.

You get a bill from your Property Manager and see the hourly rate for a Maintenance Technician at $95 per hour. You may think it is excessive, or that a handyman equals cheap labor. You also may start to wonder if you should do it yourself, or find cheaper options.

You call your Property Manager, and they tell you that the $95 hourly rate is a preferred one for... read more >>

Friday, August 26, 2022

Mike Explains: The 1031 Exchange

Imagine, if you will.

You bought a property some years back, paid $500,000 for it, and paid the loan accordingly. Now, you owe nearly $200,000 on it. Feeling confident about the real estate market, you think: “it's worth a million now, what if I sell it and buy another place for $2,000,000?”

“Well, if we sell for $1,000,000 and pay off the loan of $200,000, for... read more >>

Friday, March 25, 2022

Sell or Lease Your House | Mike Explains

Imagine, if you will. You got that great job offer in Nashville you were hoping for. However, you live in Long Beach, California. Moving out is a no-brainer, and you’re excited at the options you can afford.

But, what to do with the Long Beach home you own? Should you sell it? Should you keep it as an investment?

We get this question all the time. Especially in the Los Angeles... read more >>

Wednesday, January 12, 2022

Mike Explains: Why Real Estate Commisions Are So High?

Imagine, if you will – you’re about to sell your home. You’re speaking with local agents you are familiar with, asking them about the closing costs of the sale. They list insurance, escrow fees, transfer taxes, and… commissions.

They list a commission between the 5 or 6% range. Come to think of it, your home is valued roughly at a million dollars - that’s $5... read more >>

Tuesday, December 14, 2021

Should I Buy Through the Listing Agent – Mike Explains

Imagine, if you will: A house you love just came on the market. You might want to make an offer: should you go through the “listing agent” or find your buyer representative? Your sister (an attorney) tells you to go through a separate agent. Your boss (the savvy real estate investor) recommends going through the listing agent.

What do you do now?

When a seller lists a ho... read more >>

Monday, October 25, 2021

Mike Explains: What if It Does Not Appraise?

Imagine if you will: after months of searching and bidding on multiple properties; you are finally in escrow on the home of your dreams. You were one of three offers but this time they went with you. You feel you have done everything right and have even started to tell your friends about the move.

Then, you get a call: the home does not appraise. You agreed to pay $1,000,000 with a 20% do... read more >>

Friday, August 27, 2021

Mike Explains: Listing Price Strategies

Imagine, if you will: you list your home in a hot seller’s market, and you expect a bidding war. But when it goes on the market, all you hear is crickets. Or worse, you get one offer at full asking price, yet you were counting on getting more.

You were advised to “list low and watch frantic buyers bid it up,” but now all you have is an offer at the asking price that is l... read more >>

Tuesday, August 17, 2021

Mike Explains: Rental Scams (And How To Avoid Them)

Imagine, if you will: you pull up at your appointment to show a vacant home you have for lease. To your surprise, you find a strange car in the driveway. Then, someone is standing in the living room with their moving cardboard boxes. You have no idea who this stranger is but, they claim to have rented your home from someone else. What happens now, and how do you prevent this from happening agai... read more >>

Monday, July 26, 2021

Mike Explains: Listing Price

Imagine, if you will: you are thinking of selling your condo, which you love but have outgrown. But then you hear all this talk from other sources about properties “selling over list.”

You wonder, what does “list” means? And other terms you might hear like “list price.” How it affects you? We explain this to you.

The listing price... read more >>


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