What is the Williamson Act?
The Williamson Act is a means by which farmers were allowed to pay lower real estate taxes if they agreed to remain farming for a 10 year period. They could not develop the property or change zoning for development. In the past, developers could buy their way out of this arrangement. That is changing.
Tell me about 1031 Tax Exchanges?
A 1031 Tax Exchange is way to defer tax liabilities on a income property sale. The best way for a person to consider an exchange is to get all the facts prior to putting the property on the market. If you wait until after you have sold the property it is too late to defer the tax liabilities on that transaction. To make a qualified decision it is important to involve a real estate professional and get all the facts and ramifications of such a transaction. Also weigh all of your options before choosing a path to take when dealing with any income property.
Why should I use a Realtor vs. doing a For Sale By Owner?
When I am sick, I go to the Doctor, toothache - Dentist, legal issues -- lawyer, tax questions - CPA. When you have real estate needs, it is best to surround yourself with professionals whose goal is to protect your interests in any type of real estate transaction. A real estate professional can provide you with information from their every day real estate dealings that will allow you as an individual to make a proper and informed decision.
What is the difference between flat rate discount brokers and a full service broker?
A flat rate discount broker does not offer any split in commissions to cooperating brokers that bring buyers to the listing. Because of this, the only one that gets paid for their services in this transaction is the discount broker. So the question becomes, "Why would a full service broker take a buyer he is representing to a listing in which he will not receive compensation for doing his job?" The answer is - HE WON'T. Therefore, when you list with these flat rate discount brokers, you are hiring one agent to sell your property. When you list with a full service broker, you are hiring him, and because he cooperates with other brokers, you literally are hiring all other agents licensed in the State of California to try to find a buyer for your property. So the difference is really 1 vs. thousands trying to sell your property.
What is the difference between a Gross lease vs. Triple Net lease?
In a nut shell, in a Gross lease the tenant does not pay the taxes and insurance -- (hazard) on the property. In a Triple Net lease the tenant does pay these expenses. There are however, many variations of these leases that could make a significant difference in cash flow for owner and total expenses for tenant.