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Self Directed Solo 401K - Setup and Logistics
Hello BP Gurus,
My husband and I have an LLC that is taxed as an S Corp and my husband has an existing SoloK. We recently became interested in putting some of these funds towards investing in real estate and I have a couple questions regarding the set up.
1.Since my husband already has an existing SoloK, can he just open up a second Self Direced Solo 401k and transfer over some of the funds for real estate investing and leave the rest of the funds in the existing account in their current investments? So basically can he have two accounts, one self directed and the other with the existing investments?
2. If he can't have both accounts, can we just open one up in my name (his wife) since I also am employed by our company? Would it be possible/allowed to transfer funds from his existing SoloK to my new Self Directed Solo 401k account?
3. Does anyone have good recommendations for a good firm for us to set up the new Self Directed Solo 401k trust with that's fees are low and also provide quality customer service? Who do you use or recommend? It would be nice to have some recommendations of people's actual experiences with these firms.
I was looking at Mysolo401k.net, has anyone set up their SD Solo 401k with them? What has your experience with them been? Their website seems to be very informative.