All Forum Posts by: Brett Synicky
Brett Synicky has started 25 posts and replied 779 times.
Post: Any issues investing in something through SDIRA and personal name at the same time?
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Jon K.:
As the title says, I'm considering investing in the same debt fund using both personal funds and SDIRA funds. Provided I ensure I'm keeping capital segregated, signing subscription docs/contracts separately for each entity, and otherwise treating it like two completely separate investments by two completely separate entities are there any issues with doing such a thing?
Agree with @Michael Plaks
Post: REI Team Building San Antonio
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @John Rose:
BP Community,
I am looking for referrals for a real estate attorney, REI friendly CPA, and hard money lender in the San Antonio area. Thank you.
Highly recommend @Julius V.. As @Aaron Zimmerman said, you don't need to have a CPA in Texas but Julius happens to be in TX. Give him a ring.
Post: CPA recommendations for someone starting out in Seattle area
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Nilakshi Fernando:
Hi there, we are just looking to venture into real estate investments. We are looking to buy a multi-family property. We are looking for a CPA to help guide us through the process, business entity setup, etc. Do you have any CPA recommendations in the Seattle/Kirkland/Redmond area?
Thank you!
Highly recommend @Julius V.! He’s not local to you but that doesn’t matter. As @Aaron Zimmerman said, finding a good one is most important. If they happen to be in your market, great, but this should not be a requirement as you’ll likely never see them in person anyways. Jump on a call with Julius and see if it’s a good fit
Post: SDIRA >>how to invest
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Patryk Klasa:
Hello, my name is Patryk, I am a new member here.
I am looking for information on how to transfer money from a 401k to an SDIRA, and how I can then invest it in real estate. Does anyone have any experience with this? Thank you in advance for any advice.
Many have done this with a Solo 401K (if you qualify) or checkbook IRA.
Post: CPA BRRRR-focused in San Antonio, Texas
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Rob Tara:
Hi BP,
Can someone please recommend a CPA who understand BRRR-focused investors in San Antonio/Austin?
I've been reading reviews all over the place and there is nothing better than a first-hand referral.
Your help is appreciated. Rob
@Julius Vincent is the man for the job. Plus he’s local!
Post: Trump's "Alternative Assets for 401(K) Investors" - another "Big and Beatiful"?
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
There's a pretty good thread already going for this. https://www.biggerpockets.com/forums/48/topics/1257606-trump...
Post: Non Recourse Lenders and Self Directed IRA
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Michele Anthony:
Has anyone used Blueprint to purchase a SFR within your Self Directed IRA? I understand we have to have a non-recourse loan when financing a deal. If so, can you tell me if this works or if any problems I should be aware of?
Post: Trump signs exc order allowing 401k into private equity syndicators bonanza?
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Stetson Oates:
OK, This will be a really dumb question. Can I direct my 401K into my own real estate investing?
Post: Self- Direct IRA investments- Real Estate
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Christopher Costea:
@Brett Synicky the ladder. Converting to a SDIRA. I read the SDIRA investing book from bigger pockets and it seems like it defeats the whole purpose of what investing in real estate is about. It seems like a lot of the tax benefits get negated. I am interested non the less.
Thanks for the clarification. It's important to note that converting a retirement account to a self directed account is a tax neutral event. A few things. Self Directing is not about one or the other regarding real estate. The point of investing in RE inside a retirement account is that the gains are either tax deferred or tax free in a Roth. If you own a few homes inside an IRA and later sell them and the money goes back into the plan then is yours at 59.5 you won't care about the tax benefits "missed". Again that's not the point. The point is that you can invest in non-public assets like RE and others that you know and control (unlike wall street) and therefore presumably build your retirement account up much higher. Nothing wrong with wall street btw. Also I'm not advocating real estate as an investment for your IRA. I actually prefer private lending but that's the beauty. You choose. When I said it's not an all or nothing, I meant: If you know and understand rental real estate it's likely something you'd want to do inside of AND outside a retirement account. Also the Solo 401k (if you qualify) is exempt from UDFI tax on leveraged real estate. However with an IRA, if the plan has a mortgage, before the tax is calculated you subtract the first $1000, deduct expenses, and depreciate, with all of this being proportionate with the LTV. Talk with a CPA or figure out how to calculate this on a potential deal before moving forward with it. Sorry for the long message.
Here's a few helpful links to read through:
Non-recourse lenders
Solo 401k
https://www.biggerpockets.com/member-blogs/2810/21298-solo-401k-advantages
Sdira self directed ira
https://www.biggerpockets.com/member-blogs/2810/blog_posts/28450-real-estate-ira
Prohibited Transactions
Disqualified Person
Post: Self- Direct IRA investments- Real Estate
- Solo 401k and SDIRA Consultant
- Orange, CA
- Posts 805
- Votes 436
Quote from @Christopher Costea:
Hello, I am 34, with W2 job in health care. I am also doing my MBA while taking care of my first born. Living in NY. Tri state area very hard to invest in. I think passive is the way to go for me. I have always maxed out my retirements. I have a 401k, Roth and Regular IRA. I have been teaching myself as I go. Does anyone have any advice on thoughts about investing locally vs away? Also does anyone regret tapping into their 401K, IRA early?
By “tapping into” do you mean early distributions or converting them to a self directed account where you’re able to invest in non-public assets like real estate, etc?