All Forum Posts by: Glenn N.

Is hard money lending a business eligible for the solo 401k.Emma S. ,From talking to these different companies HML lending even as a LLC is not enough to start a solo401k .Which tells me its not a business different from what i was told before. They say you must have a separate self employed business and then you can only contribute to the solo from these other businesses not from the HML. I have a separate business Im starting but might not be enough income to make it worth it.

OK, Mr Eastman I appreciate the advice . Ill look into the self directed IRA or the IRA LLC.

As a private lender ,are you considered a business , an LLC and acting like a business? I would like to set up a Solo 401k but was told it is not a business by one of the large players.

thank you