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  • West Knoll Condominiums Address: 8535 West Knoll Drive West Hollywood CA 90069 Summary 8535 West Knoll is a 66 unit West Hollywood mid rise condo  built in 1974 in the Norma Triangle Neighborhood of West Hollywood. West Knoll has recently undergone some renovations in the hallways and lobby so it has a very up to date […]

  • A lot of people are wondering what is going to happen next with the real estate market! We know that the market has rebounded substantially from 2009 and 2010. We are close to the previous price peak in 2007. The question is- where are we heading next? I think we have 10%-20% more upside at the […]

  • You should get insurance on every building that you own. For a relatively small annual premium ($4,000 for a $1,000,000 Building) you can insure yourself against a total loss ($1,500,000 Loss – replacement cost). Multifamily Apartment buildings purchased with a loan are required to have insurance. 2-4 units are covered by residential insurance. 5 units […]

  • 1031 Exchanges also called ‘like kind’ exchanges and ‘tax deferred’ exchanges are a process investors can use to defer paying capital gains tax, that they would normally pay on an ordinary sale, until some future date. 1031 exchanges are for investors only; home owners have an even better option available to them- the homeowner’s capital […]

  • Depreciation is a loss in the value of an asset. The Federal tax code allows you to take a deduction for depreciation on assets used for business purposes (like real estate investment property) each year to offset your investment income and/or ordinary income. Depreciation can be taken for buildings, machinery, appliances, furniture, fixtures, cars, computers, […]

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Discount Point

A type of mortgage loan fee that enables a borrower to lower their monthly interest rate by paying a percentage of the loan upfront, commonly called buying down a rate. One point equals 1% of the loan amount. Sometimes half points are offered, but this is less common. Point options will vary by lender or broker, but borrowers should think about how much they’re ready to invest up front and the length of time they expect to have the mortgage loan when deciding whether to buy points. If a buyer expects to be in a home for a long time, it might make sense to pay more up-front to benefit from lower interest rate payments for the life of the loan. But, if the buyer doesn’t think they’ll be in the home for more than a few years, it might make more sense to pay less up-front and make slightly higher interest rate payments. If a borrower gets a loan through a mortgage broker, sometimes the broker will receive a premium from the lender funding the loan. Mortgage discount points are tax deductible as home mortgage interest when itemized on line 10 of Form 1040, Schedule A (PDF).