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Brandon Powell
  • Rehabber
  • Harrisburg, NC
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Self Directed IRA working with a Owned Partnership

Brandon Powell
  • Rehabber
  • Harrisburg, NC
Posted
I am getting ready to roll over a sizable 401k into a self directed IRA to invest in real estate. Three questions: 1) What custodian company is the best if I want to do an IRA, LLC structure with checkbook control? Same question regarding a solo 401k for real estate. 2) Can I partner (as a lender) with my business LLC of which I am a 25% owner (the other three 25% owners are my wife brother and sister in law)? Also a factor to consider is we probably will be converting our company LLC to a S Corp by year end (and I will be a 50% owner along with my brother). 3) Can our company open a solo 401k for 2 of the 4 owners for our current LLC (or 2 of 2 owners post S Corp conversion)? My understanding is that a solo 401k is only for single member companies and not for partnership structures. Thanks!

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