29 January 2020 | 87 replies
Maybe the agent has a reputable contractor and is willing to help out since they're in a position to lose their commission when you go bankrupt. numbers...It appears you have 130k in rehab415k purchase35k in finance charges?
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30 December 2016 | 112 replies
My Mom was convinced we were going to be bankrupt the end of this year.
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31 October 2022 | 28 replies
So, you can make money and learn invaluable lessons with a HH, but it's typically a much lower risk strategy than BRRR'ing, flipping or wholesaling--which are strategies that (when executed poorly) can easily bankrupt a beginner.Moreover, house hacking can be very lucrative, and there are multi-millionaires who built their fortunes on repetitive house hacking.Now, having said all that, house hacking isn't necessarily easy (if it were, everyone would do it)...it's just easier than the more advanced strategies...House hacking still takes significant due diligence, skill in analyzing the market and the property, time and effort to learn about tenant screening and property management, the ability to anticipate appreciation/depreciation trends, etc., etc., etc....and even with lots of skill and preparation, things will still go wrong (vacancy, plumbing leaks, bad tenants, etc.)
31 October 2018 | 13 replies
The thing that is subject to the bankruptcy estate is the security instrument that the bankrupting party has pledged because it is in fact a debt of the estate.
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7 August 2017 | 11 replies
Today the principal is bankrupt and in semi hiding.
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5 December 2016 | 10 replies
Start with the Wholesaling Forum:https://www.biggerpockets.com/forums/93-wholesalin...And i would suggest reading these posts in their entirety:https://www.biggerpockets.com/forums/12/topics/380162-went-bankrupt-trying-to-wholesale-heres-my-sage-advicehttps://www.biggerpockets.com/forums/93/topics/583...A question for you:- In your example, how do you plan on explaining to the seller, who you led to believe their house was only worth $5k, that you've sold it for 3x that much and are personally profiting twice what they are..for a house you don't own.
15 October 2022 | 30 replies
So the investors are in a worse situation when the company is not bankrupted.
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8 December 2022 | 4 replies
I was told Landlords were going to go bankrupt in-mass, that hundreds of thousands if not millions would be done in by loss of rent revenues, and it would be a fire-sale of properties at pennies on the dollar.......
10 November 2021 | 19 replies
Many of these types of brokerages end up going bankrupt.