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16 January 2025 | 7 replies
I was going to wait to build my portfolio bigger before starting an numbered company, but I'd like to hear what the BP community has to offer in words of advice.Here are the current numbers I'm working with.
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3 January 2025 | 4 replies
There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.
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21 January 2025 | 10 replies
Even if they could save 5-10% on that $800 bid, which is $40-$80, if it took more than 1-2 hours they'd be losing money doing it because their time is worth at least $40/hour.In our opinion, it really depends on the level of urgency and the size of the bid.The more urgency, like no hot water, the less time the PMC has to get multiple bids.The bigger the bid, the more likely it is an owner should expect multiple bids.An owner has to be realistic, understand and accept these limitations.
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4 February 2025 | 17 replies
It's very easy to make one tiny, minor assumption to fill in an unknown that completely changes the context and consequently the answer - I've caught myself doing this a few times.As far as the legal responsibility for the debt goes with Subject To, my guess would be that the contract basically provides a pathway for the seller to pursue the buyer for recourse related to losses they suffer from the default of the original loan, like a form of indemnification, but does not absolve the seller of responsibility for the debt.
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20 January 2025 | 2 replies
Helo Bigger Pockets folks!
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17 January 2025 | 6 replies
Quote from @Susana Alcorta: Hello,I'm a long-time listener of the Bigger Pockets Money Podcast.
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15 January 2025 | 2 replies
I know hosts have included additional cleaning fees for violations as a deterrent.If none of these solutions work, you could look into completely independent HVAC systems for the two units, though that would be a bigger upfront investment.
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30 January 2025 | 19 replies
Hi @Jason Brown Welcome to the Bigger Pockets community!
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7 January 2025 | 6 replies
Does anyone have an attorney recommendation in Texas or other recommendations to remedy this loss?
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6 February 2025 | 2 replies
The bigger companies, truly see you as another number in their pipeline and not as a client.