When people come to America from other parts of the world to make their fortune, one sector of real estate that allows that to happen is income property. Investing in real estate has been the key to some of our countries most successful entrepreneurs no matter whether they came from outside the US or one of our 50 states or protectorates.
Is it easy? It is not easy. Can anyone do it? No. More people have tried and failed than have had enormous success. But many have done very well with income property and built a comfortable living through hard work, education, practical decisions and disciplined negotiating.
Monty has experienced or witnessed great successes and colossal failures in most every type of real estate investment or vehicle available. As an income property investor and real estate broker those experiences have been a great teacher. If you have a real estate investment question, just Ask Monty.
Reader Question: We are a four-person group wanting your opinion on topics to consider when buying an Airbnb investment. We have invested in other commercial property types, but this would be our first bed and breakfast. The six units generate an eight-percent cap rate. 2019 was the first year in service. There are numerous significant […]
Reader Question: My father doesn’t know how to evict a relative from a rental property. It was to be temporary, but it has been four years now. I know that they didn’t sign a lease, and they don’t have anything that says how long they can stay. What can we do to get them out? […]
Reader Question: I have been inspired to go into real estate investing since I have recently lost my job. I don’t have any real estate experience. I don’t have a practical knowledge on how to leverage with OPM (other people’s money). Please recommend what I can do to help me gain experience? Monty’s Answer: There […]
Reader Question: My grandparents chose to die with no will. All their children passed except three sisters. My mother and several siblings passed. One of the grandchildren has been paying taxes for years, and another has been paying electricity. Do these three sisters have the right to sell timber and leave the grandchildren out? […]
Reader Question: We own a 24-unit apartment building. We have an eighty-eight-year-old tenant with no next of kin according to him. When he passes on, what are we to do with his belongings? He has nothing of any value; his biggest asset is a twenty-year-old car. Whom do we notify? He seems healthy and active […]
Reader Question: I am a young person who inherited money. I’ve been looking at different career options, and I have decided to invest in real estate, but I have little knowledge about it. Where do I find people with money who are looking for attractive real estate deals with a partner? Monty’s Answer: Real estate […]
Reader Question: I am researching commercial real estate. Who invests in commercial real estate in the US? Monty’s Answer: The definition of commercial real estate is buildings owned by an investor or investors to generate income from rent. According to the National Association of Real Estate Investment Trusts (NAREIT), the total size of the commercial […]
Reader Question: I inherited a large commercial rental property along with my three siblings. I would like it to be sold, even at a much lower price, and they do not. Is there any way for me to get out of this partnership and receive money, according to what my share is worth now? Monty’s […]
Reader Question: How do I find lost closing statements for a property I sold in 2004 in a 1031 exchange where the title company and 1031 companies are gone, the real estate agent is deceased, her company no longer has any records, and the mortgage company no longer has those records? Monty’s Answer: Fifteen […]
Reader Question: We are confused by our agent’s rent-up procedures. We rented our home to a couple who gave us a month-and-a-half for security. They also paid their real estate agent a months rent. Their agent split the month’s rent with our real estate agent. However, we didn’t get a months rent before our tenants […]
Reader Question: I am considering investing in real estate. Can you explain how people avoid taxes just by owning property? Monty’s Answer: Real estate investors do not invest in real estate to avoid taxes. They invest in real estate to build wealth. Appreciation, income, and depreciation create wealth in real estate. Depreciation is also […]
Reader Question: My husband passed away unexpectedly very recently. I lost my best friend, and now I’m losing my sanity. He handled all our finances. We own income property and other assets, but I don’t know where any documents are or how to find them. I asked for information many times, but he never gave […]
Reader Question: I have packaged a duplex and three single-family homes together and listed them for sale as a packaged real estate investment. These are C+ to B- cash flow homes in the midwest which are attractive to out of state investors. All currently have tenants in them with rental history available and are priced […]
Reader Question: We have spent the past two years reading for real estate investing. We have a plan laid out that we believe is achievable, and we are ready to buy our first two-to-four family fixer-upper. Once we identify what we think to be the right property, what are your best buying tips to ensure […]
Reader Question: I have vacant retail space. I own an 8000 square foot retail building fronting on a street with a 15,000 daily car count. The building is brick and block with a retail glass front, and about 60 years old. The parking is adequate. Two tenants occupy the building. One pays about $14.00 per square […]