The Difference Between IRS Forms 1099 and 1042-S

What’s The Difference Between IRS Forms 1099 and 1042-S?

DO YOU HAVE FOREIGN OWNERS/INVESTORS?

As a property manager, you are very much aware that by law, you must issue a 1099 form reporting gross rents to your property owners by 1/31 of every year.

However, there seems to be a great deal of confusion out there when it comes to property managers with owners that are citizens of foreign countries.  You see, foreign investors do not get issued a 1099.  What do they receive?  They get issued a 1042-S.

WHAT IS THE DIFFERENCE BETWEEN FORMS 1099 AND 1042-S?

A 1099 form is used to report miscellaneous income, such as gross rent, for US residents and businesses only, whereas a 1042-S (Foreign Person’s U.S. Source Income Subject to withholding) is used to report income paid to a non-resident regardless of whether the payment is taxable.  Unlike form 1099, form 1042-S is not due to be issued until March15th of every year.

I see way too many property managers issuing a 1099 form to a foreign citizen.  This will lead to serious audit problems in the future as the IRS is cracking down on property managers filing the incorrect form.

The function of form 1042-S is to let the IRS know that a foreign person has earned income in the USA.   For the purposes of the IRS, a foreign person includes a non-resident alien individual, a foreign corporation, a foreign partnership, a foreign trust, a foreign estate and any other person that is not a US person.  When a foreign person or entity has earned income in the USA they must file an annual non- resident tax return. The IRS uses the     1042-S as a means to monitor tax filing compliance on the part of a foreign person or entity.

MAKE SURE YOU ALSO HAVE FORM W-8ECI ON FILE FOR EVERY FOREIGN CLIENT

As a property manager, you would report the annual gross rents on the form and also report any federal taxes withheld.  This is an important note: If you do not have a form W-8ECI (Certificate of Foreign Person’s Claim that income is Effectively Connected With the Conduct of a Trade or Business in the United States) on file for your foreign client, you should have withheld and submitted to the IRS 30% of the gross rents of your client.  The IRS also uses form 1042-S to monitor your compliance with this.  Failure to be compliant with this law may result in the IRS going after your company for the taxes owed by your client.  Therefore the message is clear: Make sure that you have this form on file for every foreign client you have!  You also want to obtain an updated W-8ECI every 3 years but I would suggest making it part of your annual checklist when renewing the management contract.

FORM 1042-T

After you file your 1042-S with the IRS, you will also have to file an annual form 1042T (Annual Summary and Transmittal of Forms 1042-S)  which is a tax reporting form that reconciles all of the 1042-S forms and tax withholding deposits to all of your form 1042-S paperwork.  This form is also due to be issued by March 15th of every year.

GROSS RENTS BOX ON FORMS 1099 AND 1042-S

I have noticed that there seems to be some confusion as to what constitutes reportable annual rental income that should be listed under the Gross Rents boxes on forms1099 and 1042-S.

The second part of this article will help all property managers have a clear understanding of the tax rules that apply to this box.

The following are common types of income:

ADVANCE RENT

Advance rent is any amount you receive before the period that it covers.  Include advance rent in rental income in the year received regardless of the period covered or the method of accounting you use.

Example

• On May 15^th, 2011 you signed a 2 year lease to rent property.
• The tenant decides to prepay the entire lease.
• You receive $10,000 for the first year’s rent and $10,000 for the rent on the second year.
• The whole $20,000 must be reported on form 1099 in 2011.

CANCELING A LEASE

If tenant pays to cancel a lease, this payment is reported as rental income.  Include the amount on form 1099 in the year that it is received.

EXPENSES PAID BY THE TENANT

If tenant pays any of your rental expenses, the amount paid should be included in rental income and you would also deduct the expense.

Example

• If the furnace in the rental property stops working and the tenant pays for the necessary repairs and deducts the amount from the rent payment.  The amount paid by the tenant would be included in rental income and the repair would be deducted as an expense.

PROPERTY OR SERVICES

If you receive property or services as rent instead of money, include the fair market value of the property or services as rental income in the year received.

Example

• Your tenant is a house painter.  He offers to paint your rental property instead of paying two months rent.  You include in rental income the amount he would have paid for rent and deduct the same amount as an expense.

SECURITY DEPOSITS

This is the area where I see the most confusion.  Do not include a security deposit in rental income when you receive it if you plan to return the deposit to the tenant at the end of the lease.  If you keep part or all of a security deposit during the year because your tenant does not live up to the terms of the lease, include the amount you keep in rental income for the year.

If an amount called a security deposit is to be used as final payment of rent, it is advance rent and should be included in rental income in the year received.

I hope that this article gives clear direction on the IRS tax guidelines for what is reportable rental income, as well as helping all of you with foreign clients to establish a system within your office to remain compliant with the IRS and protect yourselves from costly audits!

__________________________

Guest article written by Richard Hart with Hart & Associates:

Richard Hart EA, CAA
President
Hart & Associates
Tax Consulting and Preparation Services
702-985-7148
www.hartassociate.com

Getting a Mortgage Loan in Las Vegas – Some Tips You Should Follow

According to recent reports, the fixed rate mortgage loan rates throughout the nation had hit a 40 year low, making this the perfect moment to refinance home loans for all those struggling homeowners who aren’t able to make their monthly payments on time. If you’re a resident of Las Vegas, you should be aware that the 30 year fixed rate mortgage varies from 3.85% to 4.54% in the beginning of 2012 and therefore any prospective homebuyer in Las Vegas can easily think of taking out a home mortgage loan at the present moment. If you take out a home loan that is beyond your affordability, it is most obvious that you have to go for mortgage modification or a refinance loan in the near future. Are there any tips that you may follow before taking out the right home loan in Las Vegas? Read on to know about them.

Shop around: Taking out a mortgage loan without shopping around among different lenders is a wrong decision that may lead to a chaos in the future. You should get multiple quotes from multiple companies so that you may easily be able to compare and contrast the rates and choose the best loan with the best possible terms and conditions. The interest rate and the closing cost are the two most important factors that need to be taken into consideration before choosing the loan.

Repair your credit score before applying: Whether you’re taking out a home loan in Las Vegas or anywhere, remember that the lender will certainly check your credit score before deciding the loan amount and the interest rate on the loan. Pull out a copy of your credit report so that you may know the various reasons that are dropping down your score and thereby work on it.

Check the amount you can pay down: Most mortgage lenders in Las Vegas ask for at least 20% down payment on the loan by the borrower and if you’re not able to pay down this amount, it is most obvious that the lender will make you pay Private Mortgage Insurance that will unnecessarily increase the monthly mortgage installments. Therefore, you should save enough money so as to be able to pay down the required amount on time.

Determine your debt burden: The total amount of debts that you have to pay in a single month in accordance to the income that you earn is another factor that is taken into consideration by the lender before determining the interest rate of the home loan. You should not only reduce the debt amount but also get help from a professional so as to be able to repay your high interest debts and be able to get back on track.

Organize your documents: Most often it happens that a borrower delays the entire process of taking out a loan due to his ignorance about the kind of documents that are needed by the lender in order to lend the loan. You should assemble your monthly statements, the income tax returns and the other bank statements that are necessary for the lender.

Thus, when you’re in Las Vegas and trying to take out a home mortgage loan, you should follow the tips mentioned above. Manage your finances so that you can take out the best home loan in Las Vegas and avoid opting for mortgage modification in the long run.

I am Alfred Smith from New Jersey and I am associated with several good finance community sites as guest authors and forum members. I do write articles on different genres of finance.

With housing so affordable in the Las Vegas area due to the real estate meltdown, some parents of UNLV students are also choosing to invest in the local Las Vegas real estate market at the same time. Many students at UNLV live off campus. Due to its central location in the Las Vegas Valley, most residential areas are located no more than a 20 minutes’ drive from campus.

The median price of a single family home in Las Vegas currently stands at around $105,000 and condos are at around $50,000. Prices have not been at these levels since 1990 which is about 13 years before the first signs of a housing bubble in Las Vegas. This means there is essentially a market over correction in prices of about 13 years if you buy at today’s prices.

Investors are now here in droves, many of them cash buyers. Rental prices for homes and condos have certainly not declined at all so investors are able to purchase homes that create positive cash flow immediately on their investment.

For parents looking to also make a real estate investment, it makes good sense to consider purchasing. Not only are the current market conditions extremely favorable, but you have a ready tenant in the student whose not a risk like your average tenant would be.

For a traditional investor, there is a large pool of renters, not only students, but also many of the displaced homeowners who have lost their homes but not left the area. Many people are also needing to rent while their financial and credit profile recovers.

Purchasing a home here in Las Vegas, especially if you live out of town can be a challenge, but still be accomplished after having done your research and getting the best assistance possible when you’re ready to buy. Your REALTOR® should have a lot of experience with foreclosures and short sales. The real estate practices related to these two categories are constantly changing.

Once you have made your purchase you may also need good property management, especially if your tenant is not your own son or daughter! Effectively managing properties by staying on top of tenants, dealing with homeowners’ associations, managing repair issues, collecting repair bids and effective accounting are issues many companies lack. You don’t want a “rent collector” you want a MANAGER who will fight to preserve your property’s value.

For any questions related to purchasing real estate or property management in the Las Vegas, Henderson, North Las Vegas markets contact Shelter Realty at 702-376-7379.

Evicting a tenant is never pleasant (or easy), but for most landlords, it is unfortunately an unavoidable part of the job. Yet it’s one that the landlord must approach with caution, and a full awareness of all of the relevant state laws.

Tenancy termination laws vary from state to state, so before you proceed, know your state’s law. In most cases, before you can evict your tenant you must first legally terminate the tenancy with a written notice (often called a Notice for Termination with Cause) according to your state’s termination statute. If your tenant doesn’t “perform” (pay back rent or stop breaking the rules) or move, then you can file a lawsuit to evict.

Here I’m going to focus on how to write and deliver a Notice for Termination with Cause.  While the specific legal terminology varies from state to state, there are basically three types of these notices:

1. Pay Rent or Quit Notices. These notices are typically used when the tenant has not paid the rent. They give the tenant a few days (three to five in most states) to pay the rent or move out (“quit”). In Nevada, where I run a property management company, a landlord can choose to accept partial rent payment and then rewrite a new notice of rent owed.

2. Cure or Quit Notices. These are typically given after a tenant violates a term or condition of the lease or rental agreement, such as a no-pets or excessive noise clause. Usually, the tenant has a specific amount of time to “fix” the issue or violation. A tenant who fails to do so must move or face the possibility of eviction.

3. Unconditional Quit Notices. These are the hardest to issue because they order the tenant to vacate the premises with no chance to pay the rent or correct a lease or rental agreement violation. In most states, unconditional quit notices are allowed only when the tenant has:
• Repeatedly violated a significant lease or rental agreement clause
• Been late with the rent on more than one occasion
• Seriously damaged the premises
• Engaged in serious illegal activity, such as drug dealing on the premises

Unfortunately, some tenants won’t pay the back rent, fix the issue, or leave even after receiving a Pay Rent or Quit or Cure or Quit notice.  If they don’t, your next step is to begin an unlawful detainer lawsuit by properly serving the tenant with a summons and complaint for eviction.

As they should be, state laws are set up to protect tenants’ rights.  But oftentimes they make even lawful evictions complicated.  Yet staying on the right side of state lease laws is critical.  It’s another reason why hiring a property management company to handle the management of your investment property can make great sense.

It wasn’t long ago that Las Vegas was going to experience a phenomenon coined as the “Manhattanization” of Las Vegas. Approximately fifty high rise towers were planned, but in the end only around 12 were ever built. There are many owners of these buildings who own units that they now cannot afford, especially given the high monthly association fees.

Due to plummeting Las Vegas real estate prices, many of the owners of high rise condos are now upside down on their mortgages as well. It is a myth that mortgage holding banks will not consider short sales on these investment properties. This is untrue. As long as we have an offer that provides for a better return than a foreclosure, the bank will generally consider a short sale.

Generally, with a short sale, a seller must possess a financial hardship (job loss, decreased income, divorce, moving out of the area for work, death of an owner, medical hardship). Now some owners of these owners may not have a classic hardship but are planning to let the property go anyway. Banks may still want to consider a short sale. In this strategic default scenario sellers may not be able to simply walk away without making a cash contribution, but if a settlement can be reached for 10-20% on the outstanding balance for a full release, this can be preferable to many borrowers who don’t want to foreclose and simply want to settle their debts.

If you don’t have classic hardship, a full team of professionals will be needed: tax advice, asset protection attorney, a REALTOR® with short sale experience where the sellers have assets. In our short sale department here at Shelter Realty, we can make recommendations for attorneys and tax preparers to help you get the answers you need to make the right decision on whether to list your condo unit.

Paul Rowe is the managing agent for the short sale division at Shelter Realty Inc. He may be contacted via email: info(at sign)shelterrealty.com or by calling 702-376-7379.

Chase Bank is paying up to $30,000 as an incentive for borrowers to do a short sale. This program has not been well promoted by Chase. In fact, the only way to know if you qualify is to call their Customer Service Department.

I called Chase directly for details and I was told that borrowers would have been notified by letter. From what I can gather, you can’t apply for this incentive. Either, your loan is included or it isn’t. It seems the prime candidates are persons whose mortgage loan was originally a Washington Mutual Loan (WAMU).

It is also important to note that $30,000 is the maximum they will pay and your incentive, if offered, may be lower depending on geographic area and the loss the bank is incurring by accepting the short sale.

Paul Rowe is the managing agent for the short sale division at Shelter Realty. Contact him directly for any short sale questions by emailing: info(at)shelterrealty.com or by calling 702-376-7379.

There are many different reasons why people downsize – they retire, get divorced, become empty nesters or are just tired of paying for (and maintaining) a larger home. But before you move from your 5,000 square foot Las Vegas home to a bungalow, you should…

…remember location, location, location.  Even though your kids don’t live at home anymore, the proximity of your local school (and how well it’s ranked) will influence your property value. Remember, schools (with good test scores), taxes, public transportation, highways and shopping all impact the value of your home.

…keep all costs in mind.  Costs to remember when buying either a home, condo or town home (besides the down payment, closing costs and mortgage) are HOA fees, building and maintenance fees (pool, tennis courts or fitness rooms) or assessment fees (for common area renovations, for example). Try to get an idea (either through association meeting minutes or from copies of HOA invoices) to how much fees have gone up in the past and if there are any planned for the future.

…picture yourself in the future.  Visualize yourself living in your smaller home when possible health conditions may surface. You don’t want to buy a multi-level home (with many stairs) if you have hip or knee problems. You also want to think about where (and how high) you kitchen cabinets are. Is grabbing your morning coffee mug going to be a problem because you can’t reach it without using a stool? Remember, downsizing is supposed to make your life easier – not more complicated.

…size up your stuff.  Oversized furniture fits and looks great in your 5,000 square foot home, but may look cramped and stuffy in your new smaller place. See if you can sell your larger pieces of furniture, then take the sale money and buy separate pieces that fit (and can be moved around) in your new home. This is also a good time to de-clutter and streamline your possessions. There’s no point moving things that you don’t want or have room for.

There are many homes on the market in Las Vegas that are perfect for downsizing homeowners. Give one of our agents a call at (702) 376-7379.

Just as successful businesses don’t use one single marketing strategy to the exclusion of all others, so is it with real estate.  Successful Las Vegas real estate agents use a number of marketing tools to market their clients’ homes.  That said, some are more popular than others.

Listing online.  Once the mainstay of real estate marketing, newspaper ads have become dramatically less popular.  With the rise of searchable home listing sites like REALTOR.com, Zillow.com, Trulia.com, and others, flipping through the pages of a physical newspaper is, for most buyers, so 1999.  And that’s the key in successfully marketing your Las Vegas home to sell – going where the buyers are.  Sure, you can get a killer deal on a 1/4 page ad in the newspaper, but if very few buyers read it, what’s the point?

Another benefit of advertising listing online is the ease of measurability.  You can easily measure the number of impressions your ad or listing received (how many times it appeared on a page that a web visitor was looking at), the number of clicks on that ad or listing, and more.  That way, you can see what’s working – and what isn’t – and make smart changes in response.

It’s all (or partly at least) about who you know.  They say that most real estate transactions are the result of connections.  That’s why the best real estate agents have extensive networks of other buyers’ agents and sellers’ agents who act as one big referral network.  That way, I can target my clients’ listings to buyers’ agents who help buyers in that particular neighborhood, for example.

Market, then market some more.  At the end of the day, marketing – online, offline, through connections, with a yard sign, whatever – is how you’ll get the word out about your home for sale.

When interviewing real estate agents to help you sell your home, ask about their marketing strategies – ask how they spend on advertising and where they advertise. (How much money a real estate agent spends on marketing is not nearly as important as how he spends it.) Ask what kind of innovative technologies they use to market your home.  And perhaps most importantly, ask to see the proof.

Ask me how we can market your Las Vegas home for sale.  Call us at (702) 376-7379 or contact Shelter Realty online here.

They’re a growing problem, especially in those Las Vegas neighborhoods most heavily affected by foreclosures. You know who they are – they’ve got weeds as high as corn and chipping paint on the outside of their homes.  They can wreck havoc on the value of any neighborhood.

No one wants to live near an eyesore and have to see that mess every day.  But homes like that can also affect whether or not buyers will buy in your neighborhood.  It’s bad enough living near an eyesore, but if you’re a buyer, of course an eyesore is going to affect whether or not you buy. Why?  You know, who wants to live next to an ugly house or yard?

And remember, the kind of neighbors who don’t keep up their homes and yards are the kind of neighbors who can be problematic in other areas – loud noise, disruptive behavior and police visits at all hours of the night!

For those reasons, if you’re thinking about selling your Las Vegas home and there’s an eyesore nearby, you’ve got to do something about it. After all, it’s still a buyer’s market and competition is still tough. To maximize the chances of selling your home (and selling it for the most money), you want your neighbors to be “on their best behavior.”

What you can do about it

. . . If the home has been foreclosed (or is being foreclosed and is empty), then it’s the bank’s responsibility to maintain the home – especially if there’s an HOA or city code. You’ll have to investigate what the codes are (no weeds, overgrown shrubs or peeling paint, for example) to determine if the home is in violation of any codes.

Since most Las Vegas bank-owned homes are listed for sale by a real estate agent, you may be able to call the listing agent and point out the problem. If that doesn’t work, file a complaint with the HOA or city code department.

Resolving the eyesore problem may take time, so one of the quickest (and easiest) ways to get the problem fixed is to clean things up for yourself. Band together with your other neighbors to at least remove weeds, mow the grass and trim shrubs.  Be sure to get permission from the owner before your start; you don’t want to be charged with trespassing.

. . . If the home is owner-occupied

If someone lives in the home, use tact and diplomacy when confronting them about the problem. Try talking to them face-to-face (maybe bring over some fresh baked cookies or cupcakes to ease any tension) to resolve the issue. If the lawn needs to be cut, then bring some names and phone numbers of lawn service companies with you.

Explain why their untidy yard is important to you and your neighbors and that you are willing to help them if they need it. If kindness doesn’t work, then file a complaint with the HOA or city code department (again, assuming that the problem is an infraction of the code). Most HOAs take those kinds of complaints seriously and will work hard to resolve the problem.

If you’re thinking of listing your Las Vegas home for sale, give our agents a call at (702) 376-7379 to see how we can help you.

If you’re a first-time homebuyer, or you’re selling your current home but don’t have a lot of equity built up, saving 10 or 20% (or even 5%) of the value of your next home can seem like a tall order.  Fortunately, you may have another option.

Federal Housing Administration (FHA) to the rescue

FHA-backed mortgages still feature a 96.5% loan-to-value option, meaning that you can borrow as much as 96.5% of the value of the home you’re buying.  And, your 3.5% down payment can come from a family member or your employer (“gifted” down payments are typically not allowed by conventional lenders).

They’re called “FHA-backed mortgages” because the FHA doesn’t actually lend the money; instead, the loan is underwritten by an FHA-approved lender and insured by the FHA (so that if the borrower defaults, the FHA pays the lender).  It’s all done through what’s called the 203(b) Mortgage Insurance program.  Some key notes about it:

• You’ll pay a mortgage insurance premium, part of which is required up front and part of which you’ll pay annually.  You can  finance the upfront mortgage insurance premium into the mortgage.
• You have to meet standard FHA credit qualifications, though they’re often more relaxed than conventional mortgage qualifications.  Qualifications include not having a bankruptcy or foreclosure on your record within the last three years.
• The amount of the loan is limited and new changes to loan limits take effect October 1, 2011 (learn how the changes may affect your Las Vegas home purchase).

The upshot

The state of Nevada also has several options that may help you purchase your Las Vegas home.  The bottom line is that you might not need to squirrel away 5, 10, 15, or 20% of your next home’s value in cash.  With an FHA-backed mortgage, you can buy a home with 3.5% down – and with the help from a professional agent, you can be in your new Las Vegas home sooner than you think.

To learn about your Las Vegas down payment options, please give Shelter Realty a call at (702) 376-7379 or to view our many affordable Las Vegas homes for sale, visit www.shelterrealty.com.

There are currently 260 homes for sale in the Las Vegas 89084 zip code, which includes the master planned community of Aliante. Located in North Las Vegas, this 1,905-acre community includes a mix of homes, retail and dining centers, plus 428 acres dedicated to recreational and public use.

Nestled where the desert meets the foothills, Aliante offers a vibrant community life – mixed with outdoor family recreation and plenty of open space. There are 3 parks, a man-made scenic lake, a water play area and 24 miles of interconnecting trails set against the natural arroyos.

Homes for sale in Las Vegas zip code 89084

According to public data records complied by Trulia, between May 2011 and July 2011, 505 homes sold at a median sales price of $162,000. That price is 0.8 percent lower than the same period (May-July) one year ago. In other words, if you’re looking to buy a home in Aliante, now is a good time to get a great deal.

The median sales price of homes in the 89084 zip code (including Aliante) was 54.29 percent higher than the median sales price for North Las Vegas, NV (again, according to public data records complied by Trulia).

Things to do in and around Aliante

A unique Aliante attraction is its 20-acre Nature Discovery Park. Your children would love to dig for replicas of fossilized dinosaurs in the Dino Dig sandbox. This fully-fenced playground has big kid slides, a tot play area and sprinkler water pad. Outside of the fenced area is a man-made lake (complete with waterfalls), soccer fields, and a volleyball stadium – in warmer weather, you and your family can enjoy watching an outdoor movie and or listen to your favorite local band perform during one of the many music festivals.

If you want to take a hike, throw some dice or hit the fairways, Aliante is near some of the valley’s best natural and newest attractions.

Sheep Mountain Range:  Part of The Desert National Wildlife Refuge, this range is a natural bighorn habitat. The sheep can be seen during the cooler part of the year (from late fall to early spring) – a great time for you and your family to be out enjoying the valley’s beautiful weather and natural environment.

Aliante Station Casino: This casino has it all (except the noise and crowds of the strip). The casino has a hotel with pool (complete with cabanas), rental halls, slots, game rooms, several restaurants, and entertainment. Why hit the strip when you can be in this brand new casino in a matter of minutes!

Aliante Golf Club: Awarded the “Best New Course in Las Vegas” by Vegas Golfer Magazine, this 18-hole championship course was designed by golfing pros and incorporates local desert plants in the landscaping. This picturesque course is fair yet challenging – you’ll want to bring your whole family.

If you want to take advantage of the current housing market and sell your Aliante home or if you’re ready to buy your new Las Vegas home, please give our agents a call at (702) 376-7379.  You can also view our listings of Aliante homes for sale at www.shelterrealty.com.

Recent Homes for Sale in Aliante

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Once a property is sold at foreclosure or when the property is sold as a short sale, there will be a remaining deficit of what is owed to the lenders who are holding any mortgage debt. While state laws may affect what constitutes as deficiency, usually it will be the difference between the original loan amount plus any past due interest, less fair market value of the home. Most often the sale price will be accepted as fair market value.

Example: A home with a $360,000 mortgage balance is sold on a short sale for $230,000.  This creates a roughly a $130,000 deficiency amount.

If the state the property is located such as my State, Nevada, the loan is likely a recourse loan and the bank experiencing the deficiency has the right to pursue that borrower after the property is sold. Banks in Nevada have 6 months to file suit for a deficiency judgment after foreclosure or in the case of a short sale in which the deficiency rights have been retained. For loans generated after Oct 1 2009, banks will not have the ability to pursue a deficiency, if the home was purchased and occupied as a personal residence. Don’t despair homeowners, in many cases, a good REALTOR® can frequently get that deficiency waived for you, even if state law does not automatically protect you.

Getting a deficiency judgment is not a simple matter for the banks. They actually have to take you to court and win a lawsuit against you. This must also be accomplished within a very limited time frame. Remember all of those hastily written mortgages that were bought and sold over and over during the real estate boom?

Paul Rowe lists and sells shorts sales for Shelter Realty. He can be reached at 702-376-7379. You may also email him at paul @ shelterrealty.com.