Consider that you are a professional violinist who lives in Maryland. To build your career as a solo violinist you are planning your first tour to Pennsylvania and Ohio, and you need to attract local audiences in those states. It would be a lot more difficult if there were rules that required that your advertisements for the Ohio concerts only reached individuals in Ohio and the advertisements for the Pennsylvania concerts only reached individuals in Pennsylvania.
Read MoreMost people have heard of Antonio Stradivari, who likely is the most renowned violin maker of all time. Few outside of the violin world, however, have heard of Francois Tourte, who developed the modern violin bow and has been called the “Stradivari of the bow.” Just as the violin student may overlook the importance of the bow, the real estate investor may overlook the importance of financing options and structure.
Read MoreMy son started at age three playing a 1/32 size violin, which with an eight-inch body looked more like a toy than a violin. A few months ago, my son traded in his ¾ size violin for a 7/8 size instrument, which is valued at 20 times the price we paid for that original 1/32 size violin nearly nine years before. When we made the most recent violin purchase, I realized how our “investment” in violins is like real estate investment.
Read More