An Overview of Rhode Island’s Landlord-tenant Laws
Every landlord and tenant should have a basic understanding of their state’s laws governing the landlord-tenant relationship. In the case of Rhode Island, the residential landlord-tenant relationship is governed by R.I. Gen. Laws §§ 34-18-1 to 34-18-57 and the commercial landlord-tenant relationship is governed by
An Overview of Rhode Island’s Landlord-tenant Laws Continue reading…Partition in Sale
PALUMBO LAW handles complex partition actions when the parties involved are unable to agree on the fair market value of real estate jointly owned to effectuate the sale of said real estate in accordance with the parties’ respective interests in the property or when one of the parties outright refuses to...
Partition in Sale Continue reading…Adverse Possession
PALUMBO LAW and its experienced adverse possession attorneys understand boundary line disputes, adverse possession and boundary by acquiescence. In fact, our boundary line lawyer, Nicole Labonte is one of the few boundary line attorneys in the history of Rhode Island adverse possession cases to ever win an adverse possession case in RI Superior...
Adverse Possession Continue reading…
Understanding Single, Double, and Triple Net Leases
Many real estate investors begin in residential real estate but eventually move into commercial real estate as they become more comfortable. As a result, real estate investors are often familiar with Rhode Island’s laws governing residential leases. Rhode Island’s law governing residential leases is explicit in what can and cannot be...
Understanding Single, Double, and Triple Net Leases Continue reading…What Is an FHA-approved Condominium?
When buying a home or condo, traditional bank lending requires 20% of the purchase price to be paid upfront. For many prospective buyers, making a 20% down payment is simply not possible. These prospective home buyers would thus be locked out of the housing market based on their inability to provide a 20% down...
What Is an FHA-approved Condominium? Continue reading…What Determines Real Estate Yield?
In real estate, yield is calculated by dividing the annual cash flows received by the value of the asset: Yield:
Annual Cash Flow Current Value of Asset For example, a property that is worth $500,000 and returns $50,000 per...
What Determines Real Estate Yield? Continue reading…What Are the Tax Benefits of Real Estate Investing?
Real estate is an extremely popular asset class among the wealthy. In addition to stocks and bonds, wealthy investors often have significant direct real estate investments within their portfolios, whether that be residential, commercial, or industrial. Likely the biggest reason for direct real estate investing is diversification. However, the tax benefits of real...
What Are the Tax Benefits of Real Estate Investing? Continue reading…What Are Opportunity Zones?
The Tax Cuts and Jobs Act of 2017 significantly altered the U.S. Tax Code through changes to capital gains treatments, personal deductions, and a series of other revisions. For real estate investors and businesses, the creation of opportunity zones offers significant tax reductions. The purpose of the opportunity zone program is to incentivize investors...
What Are Opportunity Zones? Continue reading…Fire Damage in Rhode Island
In 2017, nearly 400,000 homes suffered damage due to fire. Of these, more than half were due to cooking. Heating, general carelessness, and electrical malfunction were the next most common causes, although accounting for just over 20% collectively. When describing fire damage, it’s important to understand that “fire damage” refers to multiple types of damage...
Fire Damage in Rhode Island Continue reading…What Is the 1031 Exchange?
Perhaps you’ve heard of the 1031 Exchange. Perhaps you haven’t. Regardless, you are likely unfamiliar with what a 1031 Exchange actually does and how it works. The 1031 Exchange is a federal tax-deferral option popular among real estate investors. Section 1031 of the Tax Code allows investors to swap like-kind assets without incurring taxes,...
What Is the 1031 Exchange? Continue reading…What are the Key Legal Differences in a Commercial Lease Versus a Residenial Lease?
There are a number of differences between commercial and residential leases. The most significant is the “use” provision. The premises leased under a commercial lease may be used for a business purpose described therein such as a retail store, office or manufacturing facility (provided it is zoned for such use). It should be noted...
What are the Key Legal Differences in a Commercial Lease Versus a Residenial Lease? Continue reading…How to Finance my Investment Real Estate in Rhode Island?
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in industrial investments combined. The wise young man or wage earner of today invests his money in real estate.” – Andrew Carnegie, billionaire industrialist
For millions of Americans, real estate provides the opportunity to build...
How to Finance my Investment Real Estate in Rhode Island? Continue reading…For millions of Americans, real estate provides the opportunity to build...