David Saks Blog

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Education & Training - The Real Estate Mart of Tennessee, Inc. - TN LIC# 290452
David Saks is a musician, 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 !

ARCHIVED BLOG POSTS

2008 

                                                      What would a business be worth if it demonstrates a profit of $2,750 a month and the total earning on the investment amounts to 8% ? A. $412,500 Multiply 12 months times $2,750 to get a total profit of $33,000. Now divide the profit by the 8% ...
Posted over 5 years ago
                                                  A property is assessed at $58,000. The school rate is $15.55 per 1000 dollars of assessed valuation. What is the amount of the school tax on the property ? A. $901.90 If the the assessed valuation is $15.55 per 1000 dollars, divide 1000 into 58,00...
Posted over 5 years ago
                                                     A $100,000 home was insured against fire for 80% of it's value. The insurance rate was $6.00 per $1000 of value for a three year policy. What was the cost of the premium per year ? Remember to take your time. The soultion is below the wildlife ...
Posted over 5 years ago
                                                          David bought a lot for $100,000 and sold it three years later for $130,000. His tax liability on the lot was $2,500 a year for the past three years. David also lost 2% interest on his investment each of the three years before the sale of t...
Posted over 5 years ago
                                                       A lot with a 55 foot front and 100 feet of depth was sold for $350 per front foot. If the listing agents commission was 6% of the selling price what was her commission ? Take your time. The solution is below the wildlife photo. A. $1155 Multi...
Posted over 5 years ago
                                                        After the owner makes the deductions for expenses of the operation of the businesshe has a net income remaining of $180,000. If he paid $2 million dollars for the business what percentage is the net income of 180k of the purchase price of 2 ...
Posted over 5 years ago
                                                          What would be the annual interest rate on an $800,000 loan if the interest payments are $8000 per quarter against the full amount of the loan ? Take your time. The solution is below the wildlife photo. A. 4% If the 8k payments are quarterl...
Posted over 5 years ago
                                                   At settlement on June 15, 2005 a purchaser assumes the existing mortgage 0f $450,000 which has an annual interest rate of 5% and has been paid up to December 15, 2005. How much is the pro-rated amount due at settlement? Is the pro-rated amount of...
Posted over 5 years ago
                                                       What is the gross yearly income of a property that has six apartments, two apartments paying a monthly rental of $550 each, two apartments paying a monthly rental of $750 each, and two apartments paying a monthly rental of $900 a month each ?...
Posted over 5 years ago
                                                    A new home and lot cost $140,000. Of this total price, the estimated value of the lot was $20,000. The owner had the property for six years. Assuming an annual depreciation of 2.5% on the house and an annual increase in value of 8% on the lot, w...
Posted over 5 years ago
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David Saks

Memphis, Tennessee
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"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies

The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

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