All Forum Posts by: Claude Diehl

TY everyone. Talked to my closing attorney and he’s on it. 

I am trying to sell one of my Solo 401k properties. I've been made an offer of 50% down and for me (my Solo) to owner finance the other 50%. Is this legal? Can someone point me in the right direction? I really need a CPA or tax specialist that is an expert on Solo 401K's to help me out with this. 

I've been trying to find a CPA with expertise in Solo 401K's in the Savannah, Ga area. Not Atlanta, not Macon, not Augusta. I am in Savannah. I want someone in the Savannah area. If you know of any CPA's that are experts with Solo 401K's in the Savannah area ONLY, please advise.

Thank you.

Hi Russell, I would highly recommend calling Dmitriy at Sense Financial. https://www.sensefinancial.com I was new to the Solo 401K world 2 yrs ago and decided I wanted to move from my SEP into the flexibility that a Solo 401K offers. Sense Financial handled setting up ALL of it. All I had to do was sign where they asked me to sign. They are incredibly responsive to this day. When I reach out for advice or guidance they are quick to respond. Very professional. Customer service is top notch. I was actually on the phone last night with them. It takes time to learn and understand how the Solo 401K works, and I don't do anything until I run it by Dmitriy and his group. I am grateful I have them as a partner to help guide me. You'll be glad you used them. Good luck!!

My accountant for 20+ years retired last year. I am self-employed. My daily primary business is an S-Corp. I converted my SEP to an SDIRA last year, and also started a real estate investment LLC with my son. I purchased 4 homes with the SDIRA, and 3 homes with the LLC. I need to find a local tax pro to help me do my taxes this year and beyond that is experienced in my situation.

Thank You!

@Aisha Duff, thank you! I'll reach to them!

My son and I formed an LLC and are closing on our very first purchase, a 3 home portfolio. Very excited, and learning a lot. I'm looking for some direction on getting rental property insurance on these 3 SFH's. I've received quotes from 4 different companies and they seem to be all over the map. Each property appraises for around 125K. Any advice on which companies to contact and approx what we should expect to pay? I am in Effingham County,GA, just outside Savannah, GA.

Thank you,

Claude

Thanks Joe, he's done rehabs and reno's so we should be good there. I guess my big question from my post is do I use the banks money to start, or mine? I don't need more money to retire, I am pretty much set unless something drastic happens. I guess there are pros and cons from either point. I was just looking for someone to give a point of view on it.

I have decided I want to get into rental properties. Buy/Reno/Rent I'm 56, and will probably retire at 65. I'm self-employed so the option always exists to work a little whenever I want to make a little extra cash after I "retire". I have several retirement accounts. One is my SEP for the business that I will not touch. I also have two Roth accounts of which I can pull out with about 100K of my own money that I put into them without having to pay any penalties or taxes. I also have about 75K in a stock savings account that I can access but I'd have to pay the taxes on the gains, but it's really minor considering the long term possibilities. I'm looking for some advice/guidance from someone on here with some experience on what they would do if they were in my shoes. This is something my son and I are serious about doing. Just trying to figure out the best use of the resources in hand to get us going. My son is a GC, so he can handle the Reno portion quite well.

Thank you!