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Archive for April, 2019

1031 Exchanging Into a REIT: The 721 UPREIT As an Option for Investors by – Orrin Barrow

Posted on 01. Apr, 2019 by .

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There 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 […]

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City Forces Homeowners to Pay Tenants to Move Out! By – Pacific Legal Foundation

Posted on 01. Apr, 2019 by .

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Lyndsey 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.

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Estate Planning Strategies to Save Income and Property Taxes by – Attorney Kenneth Ziskin

Posted on 01. Apr, 2019 by .

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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.

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How We Became Successful Landlords:Stay on Track, Jack! (Part I) By – Gregory A. Charles

Posted on 01. Apr, 2019 by .

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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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Oregon to Become 1st State with Mandatory Rent Controls! By – the Editors of the Rental Housing Journal

Posted on 01. Apr, 2019 by .

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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.”

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New Tax Proposals are Unnecessary and Hurt the Middle-Class By – Jon Coupal, President of Howard Jarvis Taxpayers Association

Posted on 01. Apr, 2019 by .

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No one disputes that California has a big budget surplus. According to the Office of the Legislative Analyst,California has budget reserves in excess of $18 billion. Our budget reserves exceed the entire state budget of eighteen other states. One would think that the funds available for discretionary spending would chill any appetite for higher taxes. […]

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Fed Will “Wait & Watch” Before Raising Interest Rates by – Gary D. Halbert

Posted on 01. Apr, 2019 by .

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Fed Chair Jerome Powell recently used the “patient” word again.  He also added new words that the Fed can “wait and watch” before raising rates again. And he added another new word, that whenever interest rate increases resume, they will be “gradual.” The stock markets loved it! There are growing calls for President Trump and […]

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DID YOU KNOW? – By Dennis Block

Posted on 01. Apr, 2019 by .

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Accepting Rent If you serve a Notice to Quit on your tenant, you cannot accept rent past the expiration of that notice. Acceptance of the rent would invalidate your termination notice. If the tenant tenders you the full rental amount, you cannot accept it and then tender back that portion which extends beyond the expiration […]

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Notice of Proclamation of State of Emergency Affecting Landlords! By – Dana Seyler

Posted on 01. Apr, 2019 by .

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On February 21, 2019, Governor Gavin Newsom issued a Proclamation of a State of Emergency in California. This proclamation affects quite a few counties, including Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura. Upon the issuance of a Proclamation of a State of Emergency, the provisions of CA Penal Code section […]

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What is Making This Real Estate Cycle Different and Are We Going Back Down in Price? By – Bruce Norris

Posted on 01. Apr, 2019 by .

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What a difference six months make! During the summer, California zoomed to a $600,000 median price. I had been surprised that prices moved that quickly and had passed the previous highs set in 2007. Over the past six months, prices have softened along with sales volume. What was once at $600,000 in mid-summer turned to […]

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Something to Think About #79: Deflation by – Klarise Yahya

Posted on 01. Apr, 2019 by .

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Continued from Part 78 . . . Lending – Notwithstanding the potential for inflation-related losses, there are many reasons to buy bonds. An obvious example might be when a major expense is expected in a couple of years (grand-daughter’s wedding, etc). The investor has the money now, but doesn’t want to put it into stocks […]

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New Upcoming 3-Day Notice Laws and New Upcoming Unlawful Detainer Laws By – Dale Alberstone, Esq.

Posted on 01. Apr, 2019 by .

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Hello everybody.  In case you have not heard, get ready for tenants having more time to pay their rent and it taking more time for landlords to evict them when they don’t! Starting September 1, 2019, the counting of days will be lengthened for the 3 days which must elapse after the service of a […]

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How to Write-Off Practically Anything By- Karla Dennis

Posted on 01. Apr, 2019 by .

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When it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they […]

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San Francisco Will Pay for Assault On Landlords’ Property Rights! By – Pacific Legal Foundation

Posted on 01. Apr, 2019 by .

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Dan and Maria Levin live in the upstairs unit of their two-story home inSan Francisco, California. They would like to use the lower unit for friends and family, but a city ordinance required them to pay their tenant $118,000 to withdraw the unit from the rental market. This amount represents the difference between the tenant’s […]

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Legal Q & A By – Franco Simone, Esq.

Posted on 01. Apr, 2019 by .

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Q: I rent a residential unit to a tenant on an oral agreement. The rent is due on the 1st of every month. The tenant keeps paying late and I want to charge him late fees. Can I do this? A: No, you cannot charge a late fee without a proper late fee provision in […]

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How to Get Two or Three Times More Rent and Much Better Tenants Without Section 8 by – Nick Sidoti, R.A.M.

Posted on 01. Apr, 2019 by .

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You have heard it all before.  Some of us have even said it ourselves – “Being a landlord can be a pain.”  Most people in this country will agree that it makes a lot of sense to buy property and invest in real estate.  We also know all the benefits of investing in real estate.  […]

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Can Small Rental Property Owners use the New IRS 20% Pass-Through Tax Deduction? By – Gideon Kramer

Posted on 01. Apr, 2019 by .

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Among the most notable elements of the Tax Cuts and Jobs Act of 2017 is a new deduction for pass-through businesses. A pass-through business, (about 95% of U.S. businesses are pass-throughs), is one that does not pay corporate income tax. Starting in 2018 and continuing through 2025, qualifying pass-through business owners can deduct from their income […]

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Why Don’t the Wealthy Invest More in the Best Zip Codes? By – Terry Moore

Posted on 01. Apr, 2019 by .

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The three most important things in real estate are location, location, location. We have heard that claim all our lives. So why do fewer than 10% of the apartment transactions happen in the glamourous zip codes? Are rich people dumb about investing, or is there more to the story?

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Letters to the Editor by – Victor Barback

Posted on 01. Apr, 2019 by .

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ONE MAN’S TRASH IS ANOTHER MAN’S MONOPOLY! Dear  Councilperson Kortez, Reina Pereira, Wendy Bruget, Amanda Mejia: We met with Councilman Koretz in his office on February 7th, 2019.  You were all present for our meeting and discussion. Among other issues we spoke about the unjustified extra fees for over-fill and overweight charges.  The Athens Company admitted that they didn’t have scales […]

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It’s Here! The FREE “Million Dollar” Trade Show and Landlording Conference!

Posted on 01. Apr, 2019 by .

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Mark your calendars for Wednesday, April 17th for AOA’s “Million Dollar Trade Show and Landlording Conference” in Long Beach. You will meet just about every contractor and vendor you will ever need… it’s called the “Million Dollar Event” of the year. Come and help us celebrate and who knows?  You may even go home with […]

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The Tenant from Hell By Zachary Lawrence JD

Posted on 01. Apr, 2019 by .

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Pacific Heights is a 1990 American thriller movie starring actors Melanie Griffith, Matthew Modine and Michael Keaton. It’s the story of a young couple that purchased an expensive 19th-Century house in the exclusive neighborhood of San Francisco. This young couple, (Griffith and Modine) have some extra rooms in their new home, so they decide to rent […]

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San Francisco Will Pay for Assault On Landlords’ Property Rights! By – Pacific Legal Foundation

Posted on 01. Apr, 2019 by .

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Dan and Maria Levin live in the upstairs unit of their two-story home in San Francisco, California. They would like to use the lower unit for friends and family, but a city ordinance required them to pay their tenant $118,000 to withdraw the unit from the rental market. This amount represents the difference between the […]

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Legal Q & A by – Dennis Block

Posted on 01. Apr, 2019 by .

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Question One: I served a 60 day notice to vacate to a tenant who is on a month-to-month tenancy. The notice will expire in the middle of the following month. How should I handle it if the tenant attempts to pay the full amount of the rent on the first? This tenant in the past […]

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From Filth to Feature – the Hidden Value of an Air Filter By – Lori Hammond

Posted on 01. Apr, 2019 by .

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The act of changing a furnace/air filter is probably as unglamorous and unrecognized as any task that our team faces on a daily basis.  Have you ever received a comment card that stated, “Tom changed my air filter today?  He’s my hero!”

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Evictions: New Ways to Combat the Jury Trial Syndrome – By Grayce Long, Attorney

Posted on 01. Apr, 2019 by .

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Unfortunately, jury trials are still something that we have to be careful of and watch out for inSouthern Californiaevictions. We are seeing the continued rise of jury trials, not only in rent controlled areas but in all counties. What can you do to strengthen your case if it has to go to jury?

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