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Updated almost 10 years ago on . Most recent reply

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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
1,507
Votes |
1,737
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Solo 401ks are much easier to manage than SD IRAs.

Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
Posted

The last couple deals I participated in were funded through my wife's Solo 401k. They were easy to initiate (only needed a mortgage, a note and a trip to the bank to send a wire) and to finalize (received a check via snail mail and sent a discharge of mortgage). Tonight I will be doing paperwork for a deal funded out of my SD IRA. The custodian's paperwork is an additional step. It is not difficult to complete; however, this deal is time sensitive so I will be on the phone with Equity Trust in the morning to make sure they interpret their paperwork correctly. (I have only done around 3 dozen deals through this account. I do know how to fill out the forms but the processing seems almost arbitrary at times.) I do not look forward to that call in the least.

If you have the ability to open a Solo 401k, it is a much easier account to manage. 

Most Popular Reply

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48
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11
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Maria Alfante
  • Anaheim, CA
11
Votes |
48
Posts
Maria Alfante
  • Anaheim, CA
Replied

@Jeff Rabinowitz , I'm glad you are enjoying your Solo 401k plan. It is our pleasure serving you and your wife!

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