All Forum Posts by: Daniel Welch

Looking for investors that are currently in Aberdeen, Washington. I’ve got a hot lead. 

@Dmitriy Fomichenko that is great information and awesome blogs you've written. I stumbled across your blog post about self directed solo 401k. Would you say that the self directed solo 401k is more beneficial than a self directed IRA?

The few key differences that stuck out to me were no fees and the ability to access a loan up to 50k for personal use. Did I understand that right?

Also, if I were to get my real estate license to become an agent would that qualify me for the solo 401k?

Thanks for your time.

@Diana Dorantes thanks for the insight and motivation. I can't wait to jump right in! I think I'm on to something with this self directed IRA thing. Can't wait to learn more!

@Aaron K. Thanks for the input! I was hoping to find a loophole unbeknownst to me, to jumpstart some monthly cash flow utilizing this money. I definitely won’t cash it out....just yet!

I’m a beginner and was in the process of saving cash to begin investing but.....

I just lost my W-2 job and have a chunk of money in my 401k. I have considered rolling it into a self directed ira to begin purchasing buy and hold investment properties. Is their any way to make monthly income off of those or does all money made have to stay inside the IRA? I really want to submerge myself in real estate and never have a W-2 job ever again. I currently live in a paid for house and have 3 kids as well! I have enough funds to live on for a year but am willing risk some of that for some monthly cash flow.

I’ve worked hard up to this point financially to be in this position and am just looking for some guidance as if you were in the same position.