All Forum Posts by: Clinton Leighton

 Clinton. Yes I have done this and used @Brian Eastman here on BP to get my solo 401k setup. To have a solo 401k you need to have an operating business (I believe you could sell toothpicks or lemonade if you want but must have a business with income). If you do not qualify for a solo 401k you could always go the self directed IRA route, but a solo 401k is in my opinion a lot better option because you do not have to worry about UDFI/UBIT and can contribute a lot more to it on a yearly basis.

Hey Clinton - I definitely recommend a solo 401k to clients over an IRA. There is much more flexibility with the solo 401k. I'm not a fan of putting real estate inside either of these products because you will not get to utilize depreciation inside a 401k or IRA.

@Clinton Leighton

Is the 401k with the current or past employer? If current - you most likely will not be able to access it until you leave that employer. If this is from old employer - you are free to move it to self-directed IRA or Solo 401k. Keep in mind that the income from rentals will belong to the retirement account, you personally would not be able to benefit from it until later (just like with any other retirement account)