All Forum Posts by: Mark Woo

@Nicholas Aiola thank you so much for offering this and I do have some questions.

We have a partnership (LLC) with friend in flipping biz which may result 100k $ profit this year--so I will at K1; at the same time, my own( with my wife) own some rental properties not under any LLC, will that $100k profit be able to write-off by the passive-loss from my other rental properties? even they are under different companies/owner name?

another question, my wife and I had some rental related trip this year, are we able to expense that under our own rental properties? if we hire some nannies this year for baby care while we are traveling/out for flipping, are we able to expense that even we both have W2 so rental is not an active biz for us? Thank you

Hey Shu, 

Great questions, I have been investing in Houston for about 10 years.  Let's connect and you can see my numbers under my profile.  

For pros - 1% rule can be achieved / labor costs are reasonable / rental market is strong 

For cons -  increasing property tax and insurance cost 

Hey Joseph, 

Great posting.  We have been looking for a Contractor who has your mindset.  We actively doing BRRRRs and fix&ups in the Houston area, so let's connect and chat about what can we work together on.  Looking forward to it.

Mark Woo
  

 Thank you so much for the note.  I will keep that in mind.  

We got a property under contract as a wholesale deal. The purchase price is 30% below the ARV (~420K-450K). We could make this deal as a fix and filp (ROI = 12%, 6 months) or buy and hold. The plan is to seek joint ventures with other passive investors assuming they ONLY contribute capital, nothing else. As the operator of this deal, what should be a reasonable management fee (%) for other investors assuming we manage the deal from start to end? Thank you for sharing your experience and thoughts.

Hello everyone, trying to build my team for RE investment in the Houston TX area.  We do flipping, long-term hold, wholesales, etc.  

Looking for a real estate-friendly lawyer and legal team to partner with.