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Updated about 2 years ago on . Most recent reply presented by

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Desta Sillerud
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Self directed IRA and solo 401k recommendations

Desta Sillerud
Posted

Hi! Does anyone have recommendations of who in the area can help with self directed IRA and solo 401k's. Looking to possibly transfer from my traditional 401k after leaving my W2 job. I've spoke with my accountant and we've discussed pro's and con's, but looking to take it a step further and learn more of the finer details. Thank you!

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Eric Prescott
  • Investor
  • Union County, NJ
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Eric Prescott
  • Investor
  • Union County, NJ
Replied
Quote from @Troy DeLong:
Quote from @Eric Prescott:
Quote from @Desta Sillerud:

Hi! Does anyone have recommendations of who in the area can help with self directed IRA and solo 401k's. Looking to possibly transfer from my traditional 401k after leaving my W2 job. I've spoke with my accountant and we've discussed pro's and con's, but looking to take it a step further and learn more of the finer details. Thank you!

I don't know about Minneapolis, but you don't need to confine yourself to that area. Look up @Dmitriy Fomichenko, @Brian Eastman, and others on this site who specialize in self directed retirement accounts. In fact, search around. The two I mentioned above have answered hundreds if not thousands of questions here about self directed retirement accounts over the years, including my own. They are very informative, affordable, and generally eager to help get you on your way. 

My solo 401(k) allowed me to lock up a great deal on 3 properties last month, using non-recourse financing. 


 I would love to hear what lender / program you got setup with to use your Solo 401(k) with NON-recourse financing. I've only been able to find traditional recourse, which they don't allow with a 401k (My understanding). 

Sense Financial has a list at their site. I ended up going through a broker, Mark Robbins, who got my 3-property deal bundled at First National Bank of America in Grand Rapids (individually, the houses were too inexpensive to qualify for a non-recourse loan, since they all wanted a minimum loan of $75k to make it worthwhile and my most expensive property was $75k). FNBA has been outstanding, and I plan to borrow from them again. 

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