Q. We have a 3 bedroom legal suite downstairs and were told by canadian direct that they wont give us property insurance because they will only insure TWO unrelated people downstairs. They said three bedrooms and up is considered a rooming house! Is this legal? Isnt this discrimination? Im really choked about this.
A. Yes, it's legal.
Your property isn't eligible for a homeowners property, it doesn't meet the definition of a home. You need commercial insurance.
Your property isn't eligible for a homeowners property, it doesn't meet the definition of a home. You need commercial insurance.
Why can't the AZ gov. send national guard to the border where illegals are now murdering US property owners?
Q. Illegal aliens/drug runners are murdering US property owners and OH sent NG to Kent State to kill students who weren't killing anyone.
A. The Guard cannot be used for routine police action. Unless there is a serious disruption to peace and security, the Guard cannot be used. The state must declare a state of emergency and martial law to allow the NG to act. The ordinary police are in charge of murder investigations.
Can I write off interest/depreciation or other shortfalls on international investment property on my US tax?
Q. I have an investment property abroad, and it is cashflow negative. I've heard that I can only write off deductions on my US tax at sale, not annually like I would if it were a US property. Can I write off these deductions on my US income tax?
A. What kind of property is it? Rental property you would fill out a Schedule E and report income and expenses each year. Investment property that you are holding to sell in the future would have expenses recognized in the year of sale. From what you are indicating by negative cashflow, I'm assuming that it is rental property. If so you can write off deductions yearly.
Is it time to start buying property in the US?
Q. I live in the prosperous Euro-zone and am interested in buying property in the US (residential). The Euro is very strong against the dollar and I understand the bottom has fallen out of the US property market. Will it fall further, or is now the time to buy? Thanks.
A. Sadly, the real estate market in most of the US is nowhere near the bottom yet. There are isolated areas where is might be close to a good time to buy, but they are few & far between.
I would like to buy, but I won't for at least another 18-24 months.
I would like to buy, but I won't for at least another 18-24 months.
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