All Forum Posts by: Peter Duncan

Markjkohler.com

Yes, thanks to you all. I wnated to check my thoughts against others.  I,too, saw a red flag here. And because my reasoning checks out with my peers here on BP I advised my client against taking that deduction. Thanks.

No. It's been vacant all year.

If one qualifies for the exception to the Passive Activiry Loss (PAL) due to Modified Adjusted Gross Income (MAGI) at 100K or under, can he/she deduct rental losses where no rental income existed that year?

Good Morning David,

Yes, this helps a bunch.  I will look into them.

Thanks much!!!

Hello BP community.  Although I'm very excited about the limitless opportunities presented by investing, I certainly realize that there are many basic things that I don't know.  I feel as though I could increase my knowledge exponentially with a real estate course for agents.  Can anyone recommend a good one?  Thanks.

Lane,

I will keep your points in mind.  Thanks.

Caroline,

I appreciate your reply.  I understand that with better weather inventory usually opens up because people are moving out of the old for the new.  However, I'm not sure I understand precisely what is meant by preparedness for multiple offer situation.  Is that to say that one should basically expect to make multiple offers in this market and should therefore be flexible?

Tim, I hope all is well. Thanks for the succinct yet power packed reply? I've noticed this upward trend in pricing everywhere also, even auctions, and REO's. Prices have increased considerably since you helped us drop our first flip last year. What kind of adjustments can a novice like myself make to still find the good deals?

Good morning BP.  I live in the greater Seattle Area.  I'm looking to start my second deal soon before I end my tax season and get back to my full-time job.  Listening to the J. Scott podcast on house flipping let's me know that I need to identify the nature of the current market.  BP, are we in a buyer's market or a seller's market currently?  And what do I need to do to adapt?

Thanks.