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Solo 401k to fund real estate purchases
Who here has personal experience setting up a Solo 401k or Roth 401k for Real Estate purchase?
Was the process and on-going record keeping a mess? Did you hire a firm or an expert for the process? Has it all been worthwhile?
I have a good chunk of money sitting in an account from a past W-2 job. I'm now self employed and have an LLC for my real estate investments. I'd honestly love to get that money out and use it for another purchase...
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
Actually you do not need a custodian with the Solo 401k plan, it is not required unlike with SD IRA. 401k plan/trust can be setup with account holder being the trustee/plan administrator thus eliminating a middle man (custodian) and all related fees that come with it, not to mention red tape, delays and inconvenience.