On this week’s WSB radio show, Ilyce talks about how to maneuver your home refinance. Interest rates are near historic lows again and many consumers are thinking about refinancing. Here’s a few of the topics covered on Ilyce’s show on January 18.

Caller question: Should I put my six rental properties in a Limited Liability Company (LLC)? [18:17]
First-time investors are often looking for ways to distance themselves from the liability. But the truth is a LLC doesn’t really provide that much protection for a relatively small investor. If you’re renting a 20-unit building, then sure, that building should have its own LLC but for smaller properties, investigate whether umbrella liability coverage will meet your needs. Ilyce adds a few tips for people who feel they do need to create an LLC as well.

Caller question: Will a refinance allow me to lower the primary mortgage insurance (PMI) on my home? [24:30]
Gloria’s made significant improvements on her house and wants to get a lower APR and PMI. She should start by talking to the real estate agent that sold her the house in order to find out what’s going on in the neighborhood. It’s possible to improve your house too much. Then, she needs to follow Ilyce’s four rules to refinancing for a great deal on her home.

Caller question: I have an IRA that has doubled in 22 years—should I change investment companies or leave it alone? [31:30]
The stock market has tripled since 2009 so an IRA that has only doubled in 22 years is not that great of a growth rate. You’ve probably paid a good amount to the fund managers, too. Listen for Ilyce’s recommendations on how to deal with a struggling IRA from 1992.

Caller question: I’m buying a foreclosure but the owners are still in it. How do I get them out? [51:57]
This is a very tricky situation. It’s tough to evict people peacefully. A lot of real estate agents have found one strategy that seems to be effective before taking it to an attorney: pay the original owners a good chunk of change if they leave without destroying the property. To find out how much, listen to the show.

Finally, Ilyce discusses with one caller whether or not he is, at heart, a real estate investor. There’s a lot to consider but the good news is, you can typically try it out for a year or two with your primary residence, without the tax penalties, and see if you’re up for the challenge.

To hear more about refinancing and investing, listen to this week’s show.

Click the audio link below to listen to the full Ilyce Glink Show on WSB Radio, or go to iTunes and download the show to your handheld device.

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Thanks for listening.