Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Jason Sung

Jason Sung has started 28 posts and replied 91 times.

Post: Water damage caused by plumber

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

Hi, I would like any advice who had similar experience before. I just finished fixing a house with new vinyl flooring. I spent more than $10k for flooring. 

Due to clogged toilet, I hired a plumber who helped another house before. He was busy and he sent another person who he works with. 

When I went to see the house after work, I found water all over the floor. 

The plumber said he does not have insurance. 

What would be the best way to address this situation?

Post: How would you invest $1 Mi in current market?

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

@Anderson Bigate Nogueira, I would agree on @Josh Young's point. In this market, it would be very hard to find any cash flowing property, especially if you are buying in DFW. You may find cash flowing properties in C or D neighborhoods but it would potentially come with lots of property management headaches. 

Post: Contractor Red Flags

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30
Quote from @Rogelio M.:

@Justin Rockitter ... Check into their criminal background record ... look out for charges or convictions on crimes involving DECEPTION ... these would include fraud, perjury, missaplication of proprty as fiduciary, forgery, theft, etc.

 @Rogelio M. how do you check these records?

Post: How to issue 1099-NEC to a GC

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

HI, I started my first rehab in 2022 Sep and paid almost half of total rehab estimate to a general contractor (GC). I bought the property with cash under me and my wife's name. 

I am trying to use Turbo Tax for tax filing. I got W9 from the GC. I am about to make 1099-NEC (I have not done it before). I found people recommend to use https://www.tax1099.com and trying. When I create my profile in the website, it asks me my business name. Should I have a business to use the website? (I did form an LLC in 2022 but do not have any activity since its creation. I am not sure if I should use that LLC's name when I try to issue 1099 for my GC. Would appreciate any advice.

Post: Background Check Service Recomendation

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

@Seth Taylor if you use Zillow to list your house, you should be able to see the background of the people who apply. I am not sure if this still works but it was possible in 2021.  

Post: Potential duplex to fourplex conversion

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

@James S.

this is an old post but I am curious what happened afterwards. Do you mind sharing your story? Thanks. 

Post: Positive or Negative Cost Segregation Experiences?!

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30
Quote from @Amy Larsen:
Quote from @Taylor L.:

We've used Madison SPECS in the past and have had a good experience

Edit: should tag the man himself, @Yonah Weiss


Thats good to know! I'm working with CSSI® – Cost Segregation Services, Inc. as a rep so it's great to know what good competition is out there.

Anything in specific that left you happy with the firm or services? I'm thinking it might have something to do with your rep Yonah!? 

@Amy Larsen I am also looking for a company for CSS for single family houses. I wonder how was your experience with CSSI Inc? Would you recommend?

Post: DIY Cost Segregation Study Tips/Tools/Templates?

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30
Quote from @Yonah Weiss:

I'm also curious if anyone has actually had an experience going through an audit with one of these DIY services. It may be too soon, but that will be the real test comparing them to a quality cost seg study.


 I am also curious if anyone has audit support experience from DIY service companies. 

Post: Local and Virtual Meetups for the Dallas/DFW Area

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

Great info. Thanks @Bruce Lynn

Post: Cast iron pipe replacement for a SFH built in 1979

Jason SungPosted
  • Investor
  • Dallas, TX
  • Posts 91
  • Votes 30

For a SFH in Plano TX built in 1979 in recently purchased, it had foundation issue and plumbing issue. I fixed the foundation and now I am trying to fix the plumbing issue.

One bathroom in the living room is right on the spot with the foundation issue and it appears that it has not been used for long time. 

Would you recommend replacing the cast iron drain line since it lasts only 50 years? Or, should I just find the spots with issues and fix them? 

FYI, tThe house does not have cleanout and the cost estimate for installing cleanout is ~$1600.