All Forum Posts by: Mark Nolan

@Account Closed

Welcome to Bigger Pockets.

@Chris Harsy

Welcome to Bigger Pockets. You are at the right place to learn about real estate investing.

@Roberto Westerband

Generally if the W-2 employee works more than 20 hours per week or more than 1,000 hours per year. 

This Solo 401k plan allows for personal loans. This is essential for growing companies. The maximum amount that the plan can permit as a loan is (1) the greater of $10,000 or 50% of your vested account balance, or (2) $50,000, whichever is less. For example, if a participant has an account balance of $80,000, the maximum amount that he or she can borrow from the account is $40,000

@Roberto Westerband

The brokerage account would be opened in the name of the solo 401k and list your name as the trustee. We have had a lot of clients use Vanguard for this recently and it comes with a checkbook for investing in real estate.  Other popular firms are Fidelity, Schwab and TD Ameritrade as they all issue checkbooks.

Lastly, all gains on solo 401k investments flow back to the solo 401k and they are not counted towards the annual contribution limit.

@Roberto Westerband

Yes independent contractors as well as part-time W-2 employees can be excluded from the solo 401k plan. To learn more about the contribution limits, see the following. 

https://www.irs.gov/retirement-plans/one-participant-401k-plans

@Kenneth Reiners

Welcome to Bigger Pockets. A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

@Ayrica Wilson

Welcome to Bigger Pockets. Make sure to check out the very informative blogs.

https://www.biggerpockets.com/blogs

@Grant Keaton

Welcome to Bigger Pockets. You are at the right place to learn about real estate investing.

@Kassy Pinori

Welcome to Bigger Pockets. Make sure to read the Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

@Aviv Green

Welcome to Bigger Pockets. Make sure to listen to the podcasts. They are very informative, and contain ample information. https://www.biggerpockets.com/blogs/