Need a CPA to help with Self Directed IRA

5 Replies | Houston, Texas

Hello everyone! I recently contracted 2 properties in the Houston area that I’m looking to use my 401k as down payment. I’m looking for a CPA to make the conversion to a Self Directed 401k or IRA and knew this would be the place to go for referrals. Thanks in advance

Hi @Jason Moran ,

@Dmitriy Fomichenko may be able to help.

A couple other items to keep in mind: these conversions typically take weeks and you should factor that into your contract and, if you haven't already done so, familiarize your self with the rules and impacts of using leverage in combination with your IRA.

Hi Jason,

A Solo 401(k) plan with you as the Trustee usually provides the investor with the most control available.  You can obtain a plan document from us (without need of a CPA, though we always encourage you to talk with your CPA about all of your financial plans) that allows your 401(k) to buy and sell real estate, have a personal loan provision, have Roth contributions for the participant, etc.  The plan document is the key to give you control and agility.

@Jason Moran

One of the benefits of the Solo 401k over the IRA is the exemption from unrelated debt financed income when using the Solo 401k to purchase real estate with leverage. This will likely be a good switch for you. You'll find that there are several providers here on BP that can help you setup the Solo 401k. Most should also be able to provide CPA referrals. I'd recommend reaching out to a few and seeing what seems like a good fit for you.