When to form a Solo 401k: before, or after leaving a W2 job?

[Veronica Ivy]

Hi y'all. I'm about to leave my W2 position and basically be a full time professional real estate investor. I am super sold on the benefits of rolling over my 401k into a Solo 401k and then buying rentals with it.

My question is, the end of my work contract is May 15. I want to be able to put offers on properties asap. I know the rollover will take time. Should I set up the Solo 401k NOW before I leave my W2 employment? Or should I wait until immediately after I leave my job?

[Dmitriy Fomichenko]

@Veronica Ivy,

Leaving your W2 position has nothing to do with your ability to establish Solo 401K plan.

To qualify for this, you must have legitimate self employment activity or business without FT employees. Do you have that in place?