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Virginia Real Estate Q&A Discussion Forum
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Updated almost 8 years ago on . Most recent reply

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36
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2
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William R. Matthews IV
  • Rental Property Investor
  • Leesburg, VA
2
Votes |
36
Posts

401k rollover to self directed 401k or IRA to purchase...

William R. Matthews IV
  • Rental Property Investor
  • Leesburg, VA
Posted

My mom wants me to help her roll her 401k into a self directed retirement fund to purchase rental property. She will be 70 next year and wants to do this before she is required at 70.5 to start taking distributions from her retirement. Does anyone have any suggestions on the difference between transferring the 401k to a self directed IRA or self directed 401k make a difference? If so which is the best and why? Secondly, can this all be done ourselves or do you suggest any firms that specialize in this?

Most Popular Reply

User Stats

11
Posts
7
Votes
Ana Adler
  • Rental Property Investor
  • Saint Petersburg, FL
7
Votes |
11
Posts
Ana Adler
  • Rental Property Investor
  • Saint Petersburg, FL
Replied

@William R. Matthews IV Consider me your mother's BFF. I am 66 yo, recently retired and opted for a self directed IRA vs Solo 401K. When I learned that managing my existing rental properties did not qualify as a business, I went the SD IRA route and have no regrets. I used Sense Financial @Dmitriy Fomichenko to establish my SD IRA and the custodian is IRA Services Trust - checkbook control was crucial for me. Both are top notch in advice and patience as I also approach the 701/2 witching age. I recommend without hesitation. 

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