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All Forum Posts by: Jack Forester

Jack Forester has started 27 posts and replied 151 times.

Post: Rentals in a college town

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Thanks for the lead on that podcast. I currently have a 1 hr commute, so I'm burning through the podcasts now!

Post: Rentals in a college town

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Anyone with experience in the Augusta, GA area specifically? 

I guess I should have asked for PROs and CONs

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

https://www.biggerpockets.com/forums/48/topics/292839-rentals-in-a-college-town

Post: Rentals in a college town

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Is investigating in rental property in a college town any more or less risky than elsewhere?

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Renting in a college town. More or less Risk? Is it just higher turnover? 

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Thanks for all the info! 

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

@brian Eastman do you have a link to how you get onto Hard Money lending. I've see things saying you have to be licensed and others saying you don't need a license

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34
How is income from hard money lending treated from a tax perspective? Is it passive income or cap gains?

Originally posted by @Brian Eastman:

@Jack Forester

Income from flipping properties would definitely classify as earned income, and a flipping business could be used to sponsor and make contributions to a Solo 401k.  

You mention you are busy, and perhaps rather than flip houses so as to shelter some of that income into a SoloK, you just look at doing some hard money lending.  A bit less rewarding, but also less time.  Life is about trade-offs.

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

End goal is to not be required to work for someone else and have more time to travel and for hobbies. 

Post: Newbie-ish from Dawsonville, Georgia

Jack ForesterPosted
  • Investor
  • Cumming, GA
  • Posts 153
  • Votes 34

Thanks! I guess I should have said that (like probably everyone), I'm looking to defer taxes. I make a decent living currently, but want to grow a retirement nest egg. I'm already maxing out my 401k at work and doing a Roth IRA "backdoor" conversion.

The Solo 401k interested me until I learned that you can't contribute passive income (rental property income).  In a true flip, is that considered active income, and thus could be contributed as profit sharing?