When transferring rental property to your child, is it better to sell it to them or leave it to them in a will? Both ways have their advantages and disadvantages. Q: First, I always enjoy reading your advice column in the Torrance CA Daily Breeze home guide magazine. Your article today, "Selling a rental property [...]
It’s hard to find ways to save more money, and living in one the country’s most expensive cities makes that goal even more difficult. The good news? I’ve got three tips that can help you save more money without having to pack up and flee the neighborhood. Last month, a GoBankingRates study looked at the [...]
Luxury housewares are getting smarter. Smart home technology is automating everything we do at home, from turning on the lights and locking the doors to turning off the oven when we forget. When I visited the International Home and Housewares Show (IHHS) here in Chicago a few months back, there were so many new high-tech [...]
How easy is it to finance vacant land? And, is it easier to finance vacant land if you're going to build a hour or a commercial-use property on the land within the first six months of owning it? Unfortunately, it's tough to finance vacant land and if you plan to live and work on the [...]
How can you avoid paying taxes when selling a rental property to a child? You could try an installment sale. Q: We have a rental property that we would like to sell to our son and his wife. The problem is that we have not lived in the house as our primary residence for the [...]
Are we now living in a Landlord Nation? If you look at who owns rental property in America, you might think that more people are renting than are owners, although that isn't the case. In addition to our primary residence, we own one and a half rental properties. That is, we own one by ourselves [...]
Ilyce appeared on WGN's Steve Cochran Show in Chicago recently, and was inundated by listeners who wanted to know how to appeal their property taxes. Here are three steps you shouldn't miss if you want to successfully appeal your property taxes. Q: I heard Ilyce on the radio recently talking about how to lower your property [...]
Are you moving this month? You're not alone. According to Census figures, approximately 1 in 9 people move every year, or about 40 million Americans. More people move in May than in any other month, according to industry experts. Whether you're moving into a condo or moving into a rental, you'll want to make sure [...]
What is a successor trustee? And, can she live abroad? We get questions like these fairly frequently, as immigrants to the United States often try to buy a home as quickly as possible. But, they may not have anyone living in the United States who they trust to take care of their wishes. Q: My [...]
Selling a unique home requires savvy marketing tactics. If the property is truly unique, there are probably few buyers locally (and maybe even globally) who will want to pay for what you've created. But there's always a buyer for even the most unique home at the right price. Q: I’ve dedicated 35 years, plus a [...]
