David Saks' Blog

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Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !
  HUD NEWS   U.S. Department of Housing and Urban Development – Julián Castro, Secretary Office of Public Affairs, Washington, DC 20410                         HUD No. 15-023                                                                                             FOR RELEASE                   ...
REAL ESTATE   FRAUD FILES   “Greed, by nature, which includes reprehensible acquisitiveness and one's insatiable desire for wealth, at some stage of evolution, is like an x-ray machine that exposes the filthy soul and drags the culprit of that deadly sin into hell on earth.”       ― David Saks   ...
Seal Beach Woman Sentenced to Nearly Three Years in Federal Prison for Operating Real Estate Scheme in Orange County U.S. Attorney’s Office February 20, 2015 Central District of California (213) 894-2434 SANTA ANA, CA—A Seal Beach woman was sentenced today to 35 months in federal prison for oper...
A farm earns $36,000 net after allowing for all expenses. The buyer wants a 6% return on the investment. What would the buyer pay for the farm to net a 6% return on the investment? Please take your time. The answer is posted below the nature photo. A. $600,000 36000 netdivided by0.06 or 6% retur...
A salesman's half of a 5% commission for the sale of a 320 acre ranch at a cost of $1750 an acre would equal how much at settlement ? Please take your time. The solution is posted below the wildlife photo. A. $14,000 320 acrestimes1750 an acre=560000 total cost for the ranchtimes0.05 or 5% commi...
What is the cost of a lot 264 feet wide by 660 feet deep at a cost of 80000 dolars an acre ? Please take your time. The solution is posted below the wildlife photo. A. $320,000 264 feettimes660 feet=174240 square feetdivided by43560 square feet (the number of square feet in an acre)=4 acrestimes...
If an apartment house cost $420,000, and it has a net income of $2800 per month, what percent would the apartment house return on the investment? Take your time. The solution is posted below the wildlife photo. A. 8% 2800 a monthtimes12months=33600 a yeardivided by420000 cost of the building=0.0...
A forty acre orchard sold for $22,000 an acre.The profit the seller made over the cost of the property was 10%.How much did the seller pay for the orchard ? Take your time. The solution is posted below the wildlife photo. A. $880,000 Multiply 22k times 40 and we see that the orchard sold for $88...
I leased a storeroom to a business owner on a percentage basis.The lease calls for a monimun monthly rental of $4000 per month and 5% of the gross monthly business over $800,000.How much rent would I receive annually from the businessman if the businessman did a gross annual business of $1,200,0...
  A real estate transaction closes on September 12, 2015. The taxes for 2015 are $8752.40 and they haven't been paid yet. They have to paid by the purchaser. When the taxes are prorated for the calendar year, what is the amount that has already been paid, and will this amount be a debit or a cred...

David Saks

Broker / Industry Analyst
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