All Forum Posts by: Tina Granger

Welcome aboard David! We look forward to getting to know you and share ideas with you... Looks like you have tons of experience!

Tina

Good Morning Keith:

I can't imagine why a property management company would work without a contract especially in terms of protecting themselves. Managing risk is a part of good management practices! If they aren't interested in managing their own risk I wouldn't imagine they would do a good job of managing risk for you. I would look for another company. The Institute of Real Estate Management has persons and companies that are accredited through their organization who have received extensive training and I would recommend you visit their website to educate yourself on finding a good management company. Good luck!

Tina

That look great Brady! Thank you for sharing with us on BP!

Tina

Welcome John... there are many of us newbies here! There is so much information sharing, learning, and growing here at Bigger Pockets... Jump in and enjoy the ride!

All the Best,
Tina

If they are actively involved in managing their properties the management income would be active income. I think whether they are to be paying self-employment tax would depend on how their business entity is structured. I would refer to an accountant.

Don is correct! In Texas... the option money is provided with the earnest money and the contract. (If you want the option) 5-10 days is a customary time to put in a contract but could vary based on circumstances. The days allowed is the time used to have any inspections on a property you want performed to determine what types of repairs maybe needed and negotiate which party will do and pay for them with the seller. The option money check is cashed by the seller and will not be refunded regardless of what is agreed to or the contract is terminated (unlike the earnest money). The option money buys you some time and the unrestricted right to decide if you want to back and get your earnest money back. If no option is chosen and you back out, the earnest money would not be refundable except under other certain circumstances as noted in the contract.

Hi Jon!

No problem... I will forward some information about the retail center to your email address. Please feel free to call if you have questions. Also, I have a colleague (Broker) in Dallas who specializes in retail if you have questions about your market or if you think she could be of assistance to you.

Hi Jon:

If you have any questions about the retail shopping center I work for I encourage you to visit our website. I'd be happy to email you the link and answer any questions you might have about the center if you would like to give me a call. My job is separate from my personal business goals and I would like it to remain that way on BP. Thanks!

Hi Gordon!

Yes.. Port Arthur is a hop, skip and jump away (25 miles). I am going to concentrate my efforts in the local market for now... that being the Golden Triangle (Beaumont, Port Arthur and Orange) and surrounding areas.

Thank you for the Welcome Brian! I agree with your comment and excited about getting started!