All Forum Posts by: Jesse Clark

Is the meet canceled or moving location? I'm guessing stardust is underwater with the flood.

Thanks for the info. I didn't think the losses could offset regular income to lower AGI. 

Either way I will be holding the properties in a LLC. Just didn't know who should own the LLC.

I do need to speak with a CPA. When I look locally there doesn't seem to be anyone that specializes in real estate. I'm from Eastern Iowa, quad cities to be specific, if anyone has recommendations?

I currently have student loans that the payment is based off of income(AGI). If I were to put my properties into LLCs that report up to a C corp where profits stayed and could be used to buy more properties, would that stay off my tax forms? Reducing my ajusted gross income?

I planned in funneling profits into new properties anyway. Is an ok strategy or would there be a better strategy?

Awesome Meetup! Learned a lot that I wouldn't get from a book. Great chatting with everyone. See you at the next meeting.

Do you post on Meetup or on bigger pockets when the meetings will be?

I've been burning through books, podcasts, and YouTube for a couple of months now. Trying to learn as much as possible. Started getting financials in place and ready to start in REI. Signed up for an account when I bought a couple of the books, but recently jumped in to the forums.

I am from Davenport, IA and have been looking around the Quad cities and surrounding area market. I have been working as a software developer for the past 10 years, and have been looking for additional passive income. My goal would be to eventually only work as a consultant part time while a majority of income coming from REI. To start out my goal is to begin with SFH's near a local university. I currently live close to a University and have been thinking of moving and turning my current home into a Rental. Next step is running the numbers through one of the calculators to see if its even feasible.

Jumped on the site today and saw that a local group meets every once and awhile, organized by @ShawnF32. I plan to go to the next meeting. Just missed yesterdays meeting.

It's nice to see users and even podcast guests are investing locally. It shows there are definitely opportunities in my home town.