All Forum Posts by: Richard Anderson

Thank you @Justin Windham! You actually answered my next question at the same time regarding if a current employer would allow contributions to the Solo. So in your (and @Mark Nolan) experience, do most of your clients stop contributing to their current employers plan, and just continue to the Solo plan - while they have their W2 job? Is it legally possible to contribute to both? 

@Mark Nolan , that makes sense, thank you for the answer!

@Justin Windham I read that you can roll over an existing 401(k) from your W2 job. The question I have is do the investments that are in the job related 401(k) remain in those particular investment, equities for example, or are they "cashed out" when the roll over happens? Therefore the holder can use the cash for real estate. Or do the equities remain, and the holder can use any new cash they contribute for real estate? 

Thank you!

Looking forward to it!

@Deanna Anderson

It would also be great to hear what these properties are cash-flowing

Awesome! Great to hear it went well. Would love to see some numbers.

@Ross Denman do you have any thoughts on Springdale? My wife and I have spent hours driving for dollars in St. Claire Place and Springdale. We're excited about what's happening in St. Claire, but are wondering if Springdale is eventually going to develop like Fountain Square and St. Claire? Would love to hear what you think.

@don konipol you can also check out what @amanda han has to say on podcasts 49 and 162. I listened to 162 a few weeks ago and ended up picking up her book. 

According to Amanda Han in "The Book on Tax Strategies for the Savvy Real Estate Investor" (available here on Bigger Pockets), it is a myth that the home office is a trigger for IRS audits. She explains that hasn't been the case for ten years. According to her, the IRS has even made it easier for tax payers to deduct home office expenses. This has come about since the IRS began realizing the vast amount of Americans who work from their home in one capacity or another. The book is a very good read. 

Hi @carlos altamirano , just curious on your rehab estimate. Did you have someone local walk the property? 

Thanks, 

Richard