Nov. 21, 2019

How Donald Trump Pays Zero Dollars In Federal Taxes



In episode 20 of the “Jose Luis Morales Show,” I speak with special guest Yonah Weiss from Madison Specs to discuss saving money on your taxes.

 

Yonah Weiss, today’s guest on the “Jose Luis Morales Show,” has helped me save a lot of money in taxes over time, so who better to help me address some strategies that you can use to save on your own taxes? He works for Madison Specs, a cost-segregation company, which is something that all real estate investors absolutely need to know about. By the end of today’s show, our goal is for you to walk away with your mind blown.

 

Feel free to follow our discussion in the video above, or else you can use the timestamps below to navigate the conversation at your leisure:

 

1:54—A little-known benefit of investing in real estate: depreciation

4:01—Putting depreciation into simpler terms

5:05—How does cost segregation work?

7:55—“Sprinkling magic fairy dust on your taxes”: How cost segregation benefits real estate professionals in particular

10:21—To count as a real estate professional for the purposes of cost segregation, you don’t need a license

12:40—What is “bonus depreciation?”

15:09—How Jared Kushner has a net worth of $300 million but hasn’t paid federal income taxes for 10+ years

16:31—How does cost segregation benefit different asset classes?

20:29—Does cost segregation deduction have to be added back on the sale of the property as well?

22:10—A strategy seasoned investors use to defer taxes

23:45—Is there a minimum dollar amount at which point it doesn’t make sense to do cost segregation?

25:57—A real-life example of the benefits of cost segregation

27:35—What does bonus depreciation look like over the next five to 10 years?

30:25—Would this disable you from qualifying for a loan?

31:30—Can you only do a cost segregation study when they buy a building, or can they do it later after a major rehab?

34:46—On cost segregation and rehabbing

38:20—How to contact Yonah for more advice and answers to your questions

 

I recently worked with Yonah for a cost segregation study that we did, and my experience was nothing but positive. I look forward to working with him more in the future.

 

If you have any other questions about real estate investment, don’t hesitate to reach out to me. I’d love to hear from you.

Nov. 5, 2019

New Rules and Regulations Regarding ADUs

An important new bill was recently passed by the state of California regarding accessory dwelling units (ADUs). Here’s what you need to know. 

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Welcome to episode 23 of the “Jose Luiz Morales Show.” This time, I’m joined by Aaron Norris of the Norris Group to talk about an important new bill recently passed by the state of California regarding accessory dwelling units (ADUs). This new bill affects homeowners and real estate investors alike, and there’s plenty of opportunity to be had by its passing.

 

Once again, I’ve provided timestamps from our interview below. You can browse specific topics at your leisure or watch the video in full: 

 

1:45—The reasons behind this new bill  

4:36—What an ADU is and which rules and regulations have changed

8:41—Why this new bill is good for investors 

9:50—Size and building requirements for ADUs

14:14—Do ADUs have to be attached or detached?

16:05—ADUs can be bigger than 1,200 square feet, but only under certain circumstances

17:50—When you can have multiple ADUs on one property 

19:30—Fee restrictions 

20:55—Parking restrictions 

23:20—Important questions to ask before building an ADU

24:49—How long does the city have to respond to your permit application?

26:07—Why you must make sure your ADU is structurally sound 

27:07—What happens when this bill expires in 10 years? 

28:35—Why you should find out if your city is for or against ADUs

30:15—Are there any incentives to use ADUs to provide low-income housing?

31:31—Wrapping things up

 

Stay tuned for the next video I feature Aaron on where we’ll talk about another important topic: rent control. In the meantime, if you have any questions for me about this or any other real estate topic, don’t hesitate to reach out to me. I’d love to help you. 

 

Oct. 7, 2019

Appraisals & Their Impact on Home Sales

 

Welcome to episode No. 22 of the “Jose Luiz Morales Show.” Today I’m joined by professional appraiser Roy Villa to talk about the role appraisals play in the home selling process. Roy will discuss how appraisers determine a home’s market value and answer any and all questions you have about the appraisal process. To start, an appraisal is defined as an unbiased estimate of a property’s market value, and this estimate is based on comparable market activity for the surrounding area. An appraisal is an opinion of value, so just because one appraiser values a property at a certain price doesn’t mean another will value it at that same price too. Follow along in the video above to see our full discussion about appraisals and how they affect you as a buyer or seller. As always, if you have any questions related to real estate or about what we covered in episode No. 22 today, please get in touch with me. I’d love to hear from you! 

Sept. 19, 2019

How to Take Care of Mom and Dad as They Get Older



Marc McKenzie of Acorn Law joins me today to talk about elder law and estate planning.

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On today’s episode of the “Jose Luiz Morales Show,” I’m joined by Marc McKenzie of Acorn Law to discuss elder law, estate planning, and how to take care of mom and dad as they get older. 

 

Follow along in the video above to see our full discussion. For your convenience, I’ve provided timestamps so you can jump ahead to various sections: 

 

1:18—What is elder law?

5:44—An oft-overlooked part of estate planning: planning for incapacitation

7:00—As adults get older, how can their children plan for their future?

8:38—Aside from money, what else do people fight over during estate planning?

9:40—The biggest problems that can arise from not planning for the future 

11:44—Some of the do’s and don’ts of planning for the future 

15:05—What long-term care is and how you can pay for it

20:09—How early should you start researching life insurance?

20:56—The difference between Medicare and Medi-Cal

22:28—What’s required to be eligible for Medi-Cal?

23:15—Common misconceptions surrounding Medi-Cal and Medicare qualification

30:04—What is a living trust and when should you establish one?

32:07—When can you use a will instead of a trust? 

34:21—The financial drawbacks of deeding property to a family member

41:56—The bottom line when it comes to estate planning

43:15—What can you do to avoid negative tax consequences 

44:44—Wrapping things up

 

If you’d like to know more about this subject, you can visit Acorn Law’s website acornlawpc.com or give their office a call at (805) 409-3878.

 

As always, if you have any real estate questions for me, don’t hesitate to give me a call or send me an email. I’d love to help you. 

Aug. 30, 2019

What To Expect When Reaching Out To A Loan Officer

 

Mortgage professional Martha Salas is our latest featured guest. Today she shares her keen insight and expertise on the home loan process. 

 

I’m glad you’ve joined us for another episode of the “Jose Luiz Morales Show”!

For episode No. 20, we’re speaking with special guest Martha Salas from Nations Lending. Martha has been in the mortgage lending business for more than 30 years, and she joins us today to help us gain a deeper understanding of the loan process—especially consumers who might not know what to expect when they first reach out to a loan officer.

For your convenience, I’ve provided timestamps from our interview below. You can browse specific topics at your leisure or watch the video in full:

2:18—The first step a consumer looking to purchase or refinance a home should take

6:00—Can a loan officer offer guidance to a buyer who isn’t yet ready to buy?

9:07—How Martha determines an applicant’s qualification for a loan

12:05—What not to do before applying for a home loan


14:23—The difference between a pre-qualification and a pre-approval


17:45—How is working with a big bank different from working with a local mortgage lender?

22:44—Is it ever too soon to speak with a mortgage professional?

25:39—The story of a time when Martha had five restaurant waiters apply for a loan together

28:41—Martha warns against buyers pre-qualifying (or disqualifying) themselves

31:57—What will the loan officer do after a buyer’s offer is accepted?

39:16—Martha’s take on her duty to be available and responsive to her clients

42:23—What is conditional loan approval? What issues might arise?

46:50—What happens after conditions have been submitted?

49:30—Why a high level of care and attention to detail is so important to Martha

56:32—What pre-approved buyers must do to inch closer toward closing

58:35—The documents that matter most in the closing process

1:02:38—Martha’s final advice to consumers

If you’d like to get in touch with Martha about anything we discussed today, give her a call at 805-890-2008. And if you have any questions for me about what we covered in today’s episode of the “Jose Luiz Morales Show,” please reach out to me. I’d love to hear from you!

Aug. 15, 2019

What You Need to Know About Commercial Lending

 

For the latest episode of “The Jose Luiz Morales Show,” I’m joined by Jason Ritchie of Mission Bank to discuss the subject of commercial lending. 

 

There are several important differences between residential financing and commercial financing, and as a commercial lending specialist, Jason can outline these differences. If you’ve ever thought about buying an apartment complex of four units or more, buying an acreage, you’re a business owner and you’ve ever thought of buying your own building, then today’s video is a great resource. 

Once again, for your convenience I’ve provided timestamps of our discussion so that you can jump around to whichever sections you please:

1:32—What is a commercial loan?

2:45—An example of a commercial loan for a triplex property

3:36—What types of commercial loan products are available to consumers?

6:36—What would the loan-to-value ratio be for an investment property?

8:37—What type of down payment would you need for an SPA loan? Can you buy more than one unit with an SPA loan?

12:09—What kind of payment schedules can you get for commercial loans as opposed to residential loans?

14:52—Are commercial loan rates comparable to residential loan rates?

16:18—How much wiggle room are you allowed?

18:25—Why the sooner you can establish a relationship with your bank, the better off you’ll be

19:41—What kind of down payment can you expect for other commercial loans?

23:28—How the strength of the property, the income it produces, and the strength of the borrower influence its valuation 

26:09—Can you have a foreclosure or short sale on your record and still qualify for a commercial loan?

28:23—What else consumers need to know regarding commercial loans 

If you have any more questions about this topic, don’t hesitate to reach out to me. I’d be glad to help you. 

July 23, 2019

What You Need to Know About Foundation Repair

 

Welcome to episode 18 of “The Jose Luiz Morales Show”! Today’s special guest is Franz Froehlich of Saber Foundation Repair, a fantastic foundation repair company here in Ventura County. 

 

Certain areas in Ventura County are known to have properties with foundation issues, and sometimes first-time homebuyers don’t find out about them until after they buy the house and it’s time for them to sell it. These kinds of issues can cause you to sell for less than your asking price, so I want to educate you on how to spot foundation issues before you buy a home and what you can do if your current home has foundation issues. 

 

Once again, for your convenience I’ve provided timestamps of our discussion so that you can skip ahead to various sections at your leisure: 

 

1:57—How do you define a home’s “foundation”?

2:53—What are the different types of foundations properties have?

4:42—What are some of the problems that arise with foundations?

6:20—What’s the most common reason Ventura County properties have foundation issues?

6:57—What sort of clues should first-time homebuyers look for during the walk-through?

8:52—What does the retrofitting process look like?

9:57—How big does a crack in the foundation need to be for you to be concerned?

11:28—What can you do if you have an older property with foundation issues?

14:05—What can you expect to spend on foundation repair?

16:01—What happens if the builder doesn’t use rebar when building a foundation?

17:29—Are there areas in Ventura County more prone to foundation issues?

18:47—What does the foundation inspection process look like?

19:18—How can new home builders reinforce their foundation if they’re building in an area where the soil isn’t very strong?

21:13—Wrapping things up

 

If you’d like to get in touch with Franz or the rest of the team at Saber Foundation Repair, you can visit their Facebook page, check out their website SaberFoundations.com, or give them a call at 1-800-922-2488.

 

As always, if you have any other real estate questions for me, don’t hesitate to give me a call or shoot me an email. I’d love to help you. 

June 17, 2019

Everything You Need to Know About Down Payment Assistance Programs

 

On today’s episode of the Jose Luis Morales show, I’m joined by mortgage and housing expert Alex Vega of VCCDC (Ventura County Community Development Corporation) to discuss some local down payment assistance programs you may qualify for.

 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

 

01:24 - Alex Vega explains what VCCDC is and how it serves our community

 

02:18 - What services and programs VCCDC offers homebuyers

 

06:04 - Alex shares some insight into what buyers can learn in VCCDC’s eight-hour homebuying course

 

08:30 - How the market has changed since VCCDC became a corporation

 

09:43 - What down payment assistance programs does VCCDC offer?

 

13:57 - Alex clarifies a few stipulations for VCCDC’s assistance programs

 

16:59 - What restrictions are there for VCCDC’s down payment assistance programs?

 

20:29 - Where to find more information about VCCDC’s down payment assistance programs (www.vccdc.org)

 

23:25 - A few final words

 

If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

June 3, 2019

How the Home Inspection Process Works


On today’s episode of the Jose Luiz Morales Show, we’re talking about the ins and outs of the home inspection process.

 

Home inspections are a critical aspect of the real estate process, which is why for today’s episode of the Jose Luiz Morales Show,  I’ve brought on expert inspector Joe Nerberg of AmeriSpec Inspection Services. Joe had some interesting insight to share regarding this often-misunderstood process during our interview, and I’m excited to share that conversation with you now.


Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:

 

00:22 - An introduction to today’s topic and guest
01:44 - Joe explains what home inspections are and when they happen during a transaction
02:24 - Is there such a thing as a “licensed inspector” in California?
03:17 - Joe describes what happens during a typical home inspection
05:23 - What Joe would say to someone who's thinking about not ordering an inspection
07:11 - Why inspections should be performed by experienced, qualified professionals
08:12 - Joe shares five of the most common problems he finds during inspections
10:26 - Why it’s better to uncover problems before you close
13:08 - How inspectors advocate for clients even if they happen to miss something
14:07 - How does AmeriSpec ensure its inspectors are qualified? And what training do they implement?
15:48 - Why you still need a home inspection when buying new construction
17:06 - Do home inspectors check for permits?
17:58 - How much do home inspections typically cost?
20:18 - A recap of the inspection process, in general
21:53 - A few closing words from Joe
22:10 - How you can contact Joe and his team

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

May 17, 2019

Homes for Heroes With Frank Salazar


Welcome back for another episode of the “Jose Luiz Morales Show”!

It’s a privilege to be joined today by special guest Frank Salazar. Frank is one of the branch managers at Gem Mortgage, and he’s with us to discuss a very worthy program that he has committed himself to. It’s called Homes for Heroes, and its aim is to serve our local heroes here in Ventura County.    

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or skip to the topics(s) that interest you most:

 

1:40—How and when Gem Mortgage’s relationship with Homes for Heroes was born

 

2:53—Who Homes for Heroes serves and benefits

 

3:23—The true purpose of Homes for Heroes

 

4:42—The specifics of how the program benefits a particular hero

 

5:35—The kind of savings a hero will see under this program

 

6:26—From lowest- to highest-ranking officials, the life-changing impact of Homes for Heroes

 

8:02—Frank’s contact information and how you can obtain more information

 

8:23—Some final thoughts from Frank

 

If you have any questions you’d like to ask Frank directly, please feel free to contact him at 805-312-3964. For questions about we covered in Episode No. 15 or about anything real estate-related, don’t hesitate to give me a call at 805-228-4672. I’d love to hear from you!