@Vlad Gurovich not super familiar with solo 401k's but I always thought the rule was that you have to earn income from that self-employed company in order to be able to contribute, so if you aren't earning any income from her sole proprietorship, then I don't think you can.

I understand that this calculates to a maximum contribution of $27,880.However, does this mean that:I can contribute $27,880 if my wife contributes nothing?

Greetings BP community- thanks for everyone's contributions.

second mtg owed $90k, 1st Lender typically will offer $3-5k, second mtg demands $8-10k....so, your purchase offer is $95k and stated willingness to contribute $5k to second.  

I know my RE agent should be answering these questions, but he talks in such circles that I don't understand the answers (and due to his hefty contributions with renovations and other wonderful qualities I admire, I cannot consider anyone else).Thank you for any contributions you can make to illuminate me.W

I know my RE agent should be answering these questions, but he talks in such circles that I don't understand the answers (and due to his hefty contributions with renovations and other wonderful qualities I admire, I cannot consider anyone else)Thank you for any contributions you can make to enlighten me.W

Looking forward to contributing more and more as I grow in my real estate investing career.

Im always happy to answer specific questions or contribute to a conversation, but if you need someone to walk you through the entire process...you definitely need a mentor.

One thing to be concerned about is if there are multiple shareholders; you may need to make equal distributions to all shareholders.I would then make a contribution from you to the LLC to then purchase properties.Making transfers between companies is possible but you may need to record it as loan/payable which may require loan documents and paying interest.

A lot of my soldiers and me included did the same and still am contributing to my TSP.