Self directed IRA LLC

Investing in Real Estate with a Solo 401(k) is Quick & Easy!

Purchasing real estate with a Solo 401(k) Plan is essentially the same as purchasing real estate personally.

See this link: http://www.irafinancialgroup.com/401kpurchaserealestate.php and this advice is found at the bottom of the piece.

Set-up a Solo 401(k) Plan with the IRA Financial Group.
Identify the investment property.
Purchase the investment property with the Solo 401(k) Plan – no need to seek the consent of the custodian with a Solo 401(k) Plan since you serve as Trustee and Plan Administrator.
Title to the investment property and all transaction documents should be in the name of the Solo 401(k) Plan. Documents pertaining to the property investment must be signed by you as Trustee.
All expenses paid from the investment property go through the Solo 401(k) Plan. Likewise, all rental income checks must be deposited directly in to the Solo 401(k) Plan bank account. No 401(k) related investment checks should be deposited into your personal accounts.
All income or gains from the investment flow through to your 401(k) tax-free!

But is this all set up in an LLC as well? Anyone do this, or know how to go about it all? Thanks. Tammy

Go to IRA-LLC.com and check it out. I have a IRA/LLC but don't know much about it. It is a great way to build your retirement fund. I leave the rest to my CPA and my attorney. If I find a deal that I want to use it on, I ask them how it will work and how to structure the deal. I really concentrate on acquisitions and leave the details to the experts I have working for me.

As far as the Solo 401k you would set up your business first I believe. LLC, sole proprietorship, whatever. Again, I could be wrong, I would ask my experts about it. I would not ask a company that sells their services to do either one. They will always tout the benefits of what they promote.

Good Luck!
Michael

I agree that they would do so. I will ask my CPA; thanks. I do have an LLC already but thought it had to be seperate but I will ask. Thanks!

I recently assigned a property to someone who bought it through her 401K.

It was merely assigned to WW Smith Retirement Plan. When they signed WW Smith Retirement Plan by WW Smith and then the spouse, John Smith signed on second Assignee line.

Karen

Love all the feedback!

I hear self directed roth ira with check book control talked about a lot by the investors I know but I couldn't explain it to you. Something like this might be worth seeking competent advice for your situation. I know they loan each other money back and forth in their self directed iras