All Forum Posts by: Debra K.

Thanks @Brian Eastman.  Can you walk me through how it would work if we then decided to remove the property that is in the Solo 401k by refinancing it?  How is the value calculated for refinancing (original purchase price)?  What about the income it generated?  Is that considered separate from the property?  Thanks for your help!

My partner and I (we own an LLC) are looking to purchase investment property together. We will be transferring into a Solo 401k our separate 401K accounts that were established at prior jobs. Can someone explain if:

1)  We should/must establish separate accounts within the Solo 401K with each having its own checkbook to purchase our own investments?

2)  If we purchase an investment property through this Solo 401K and we want to own it jointly, do we fund it from each of the two checking accounts?

Thanks for any insight!

Debra

Thanks for the information @Brian Eastman and @Mark Nolan!

I was wondering if it would be considered self dealing if I hired my daughter's LLC to perform property management functions on investment property held within my Solo 401K?

In this same vein, does a Solo 401K need to issue tax statements at the end of the year to consultants used/paid for by the Solo 401K?

Thanks!  It's great to meet other Vermonters too!  

Thanks a lot Justin!  

Hello Everyone!  

We are thrilled to have found the BiggerPockets community and the enormous amount of great information that is available about real estate investing!  

My partner (Djorn Crown) and I (Debra Kobus) are new entrepreneurs!  We legally established our business "Little Bird and Bear of Vermont, LLC" in July and are working on a business plan.

Our goal is to generate monthly income so as to increase our monthly cash flow and increase our equity now and into retirement.  

We are new to real estate investing and are learning a lot!  We happened upon BiggerPockets when we were researching Solo 401ks for our new business, which should be helpful in providing the funding for our real estate investments!

Very best regards,

Debra Kobus and Djorn Crown from Vermont

Little Bird and Bear of Vermont, LLC