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Updated about 3 years ago,

User Stats

9
Posts
11
Votes
Bill Pollnow
Pro Member
  • Rental Property Investor
  • Neenah WI
11
Votes |
9
Posts

Roll over Business Start up - 401K funded

Bill Pollnow
Pro Member
  • Rental Property Investor
  • Neenah WI
Posted

I recently left a job of 18 years and have an existing 401K. I am considering/wanting to take these funds out/use them for real estate purposes and have recently came across a company/recommended by my attorney/that specializes in a custom type of ROBS(Roll Over Business Start up). Their explanation is "An ERSOP® plan is an Internal Revenue Code tax-qualified profit sharing plan that allows for rollover money to be invested into the sponsoring business."  

The premise being it allows you to be an active participant in real estate management/which a SDIRA(Self Directed Individual Retirement Account) doesn't allow.   There is a lot to the rollover which involves creating a C Corp and Profit Sharing/Trust Plan. 


Any one have familiarity with this/can give me their input?  Thanks.     

  • Bill Pollnow
  • Loading replies...