SOLO IRA's

[Lydia Simeon]

I'm doing research on self-directed IRA's and just read in a blog that an investor can use funds in a SOLO IRA to purchase investment real estate just like one can in a self-directed IRA but WITHOUT the fees. Is this true and if so, can anyone recommend the best companies that offer this product, please?

[Dmitriy Fomichenko]

@Lydia Simeon 

you are probably referring to Solo 401k, not Solo IRA, correct?

With this option you can eliminate custodian, transaction and asset-based fees and can have checkbook control over your retirement account. However, not everyone can use it unlike an IRA. In order to qualify for Solo 401k you need to show self-employment income or have a small business without full time employees.

I explain this option in details in this blog post:

http://www.biggerpockets.com/blogs/2810/blog_posts...