Self directed 401k advise

5 Replies

Any suggestions on bank or where to start one? I’m just learning about this and I need to rollover an old employer based 401k. Also would like to do this asap 

Thanks in advance 

Hey Laura,

I recently rolled my wife's previous 401k into a SDIRA with Quest Trust Company. I have never heard anything negative and know of at least three other investors went with the same company. All three have expressed positive experiences. The process to get the money transferred was pretty seamless and was relatively quick. I have yet to put that money into any kind of investment but I am confident it will be pretty easy to do once I find an opportunity. 

Good luck!

@Laura Kastner

As a plan provider, I cannot make a specific recommendation as to a company to work with per BP guidelines.

Several firms that specialize in self-directed IRA and Solo 401(k) plans are active here on Bigger Pockets. The services range from "A set of documents" to meaningful guidance and support. Unless your CPA is expert in this field, you want the latter. The administration and use of a Solo 401(k) while not overly complex, are a specialty field and there are important things to know.

Check the forums and you will quickly see who offers such plans.  Get on the phone with a few and it will be pretty easy to see who is just selling a product and who can become a valuable member of your team.

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@Laura Kastner

Unfortunately you will not be able to find a bank that offers self directed 401ks. Solo 401k plans that can invest into alternative assets such as real estate are set up by specialty providers. There are many providers on Bigger Pockets that can give you information pertaining to these structures and help determine if you are eligible for them. I recommend reaching out to a few and comparing services and pricing. 

Originally posted by @Justin Windham :

@Laura Kastner

Unfortunately you will not be able to find a bank that offers self directed 401ks. Solo 401k plans that can invest into alternative assets such as real estate are set up by specialty providers. There are many providers on Bigger Pockets that can give you information pertaining to these structures and help determine if you are eligible for them. I recommend reaching out to a few and comparing services and pricing. 

Thanks Justin. I’ve been looking through to people here. Found a few. I’ve been sick, but I’m making appointments later in the week to talk. There is so much great information & good people on here.