Author: Monty
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Water rights for property owners
Reader Question: What kind of water rights does a property owner have if their property borders a moving body of water? William G. Monty Answer: Hello William and thanks for your question. It is not clear what a moving body of water represents in your question. Is it a river or a lake? Is it…
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Ten tips to avoid tenant complaints
Reader Question: We own 75 units in 20 buildings. My husband has a good day job, and I manage the apartments; it is not easy work. We have had tenant complains, but we have shrugged it off as sour grapes or “It goes with the turf.” Yesterday we got a complaint letter that several tenants…
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Seven costly mistakes of new real estate investors
Reader Question: We just backed out of our first real estate investment deal. We took some bad advice, but luckily, discovered an undisclosed issue through a whistleblower. It made us ask ourselves, what else could we have missed? What are the biggest mistakes of new investors? Justin and Ann P. Monty’s Answer: Every year new…
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Profit with adaptive reuse
Reader Question: Our partnership has been in commercial real estate for 15 years. We own a number of income properties. We have been toying with the idea of converting an old, vacant building. It seems solid but in rough shape. One of the issues holding us back is we are not certain to what use…
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How real estate relocation companies work
Reader Question: Your recent answer to the relocating employee caught my eye. I will be asked to accept real estate relocation soon. My employer has no relocation benefit described in the company policy. Our HR director admits to limited relocation knowledge. Can you share more detail about the relocation process? Jonathan K. Monty’s Answer:…
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Relocation brings a pay raise, and challenges.
Reader Question: My relocation brings a pay raise and more opportunities, but because it involves a cross-country move, I am expecting this news will be unsettling to my family. Any insights on how to proceed are appreciated? James W. Monty’s Answer: It is normal that your family may be unsettled by this news. They are all…
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Successful rezoning property requires a plan
Reader Question: I own a parcel of vacant residential land. I believe it would be more valuable rezoned to multifamily or commercial. What should I do, and not do, in the rezoning process? John K. Monty’s Answer: The first step is to confirm that rezoning creates additional value. While rezoning can bring additional value,…
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Home bidding war is homeseller’s dream
Reader Question: I am going to list my home. I am hoping to start a home bidding war to maximize the number of offers I receive. I want my broker to stipulate that we will start accepting bids five days after the house goes on the market, in order to get multiple bids on my…
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Home seller questions agent ethics
Reader Question: This is an agent ethics question. An agent of a real estate firm gave us an estimated price they can get for our home, and we signed on with them on that basis. Now, another agent of the same firm brought a prospect through and told them our house is priced too high. Is…
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Nine downsizing tips for seniors
Reader Question: We are considering downsizing our home. We are in our mid-sixties and in good health, but something smaller and in a more moderate climate keeps making more sense. We have different ideas about the best methods to sort this all out. Do you have any advice that may simplify the process? John and…
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Is a home trade-in a good idea?
Reader Question: We are thinking of downsizing and found a home at an open house. The agent offered a home “ trade-in ” on our current house. They compared it to trading in the old car. What do you think of trade-in’s for houses? Andy and Marcia P. Monty’s Answer: “Trade-in,” “guaranteed home sale,” “home…