Melanie Baldridge
Do you qualify as RE PRO?
14 October 2024 | 3 replies
You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.
Kasie Krage
Applicant is 20 yrs old with low credit score. Do they need a co-signer?
14 October 2024 | 1 reply
My leases make tenants "jointly and severally" responsible.
Scott Bogue
Advice needed on Flip Disaster
16 October 2024 | 10 replies
Some lenders might allow you to add renovation costs to the loan to help you finish the project and avoid a loss.Explore Other Financing Options: If your hard money lender isn’t flexible, you might consider private lending or even a joint venture with another investor.
Marc Lock
Claiming RE Professional Status as a W-2 Employee
14 October 2024 | 4 replies
If they are simply joint owners of real estate through a partnership, his w-2 hours would not help for REPS status, they would hinder as TP would need to work more hours managing their personal rental properties than working at the w-2 job and meet 750 hours managing them as well.
Cali Skier
Tenants are getting a divorce. The one that can't afford it wants to stay
12 October 2024 | 6 replies
They have joint and several liability.
Mario Casarez
What's Bigger Pocket's view on IG Gurus like Thach and Jake....
24 October 2024 | 55 replies
JV (joint venture) with someone to show you the ropes and then split the earnings 50/50.
Ryan Richmond
Buyer vs. Designated Agency
10 October 2024 | 2 replies
Despite the red flags—like the inferior kitchen renovations, an inspection report that didn’t tell the whole story, and a seller who tried to take the appliances that were contracted to convey —I was pot committed.
Isua Mbang
Has anyone used the “All in one loan” with CMG Financial?
21 October 2024 | 59 replies
I was told the transfers were stopped and accounts were suspended because 1) our joint LLC account doesn't have our name on it...
Darren Haddock
Introduction To Community
10 October 2024 | 1 reply
Whether it's joint ventures, co-investing, or sharing insights, I'm always eager to connect with other investors who share my vision for success in real estate.My goal is not just to succeed individually but also to contribute positively to the real estate community by fostering growth, innovation, and ethical investment practices.
Michael Ndjondo makadi
Gas tankless vs tank water heaters
13 October 2024 | 12 replies
Some gas services in San Diego are joint services(shared with another property) sometimes as small as 1/2” PE and they have an excess flow valve at the street which will trip if you exceed a certain flow.