Hi , I'm 58 I live in OC California and I plan on retiring in a few years.

hi from austin tx. so been hanging around here trying to figure out how i wanted to get started. well figured it out. i am selling my house, cashing it out, because i do not want to use it as a rental. bought another house that i will hack then turn it into a rental in a cpl years but in the mean time i am looking at additional properties in areas outside of austin even out of state.my goal is 10 properties before i retire, from my current job, in 6 years. i am looking especially in rural areas.

Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2016; the solo 401k contribution limit is $53,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)

I do all the work on my property's and I save a lot of cash every time.On the cash flow as long as it's positive cash flow your on a plus. make sure to save for a rainy day if it's a bit low.

that way I save $ and he makes some $ simultaneously. 

Investors ALWAYS find creative ways to save on costs... just like me!

We are just starting out using our Self Directed retirement funds loaning to a group with a long, successful history.

Learn and learn and learn and save until you find a good deal.

Assume the hard money loan amount is $250k, that's spending $75 on an oven (that you get to keep) to save $7500 in points (that you don't get back no matter what).

About two months ago I was tired of telling myself that one day I will get into investing and I didn't want to wait 8+ months to save up enough to start investing, so I took out a personal loan for the minimum amount my friend would partner with me on a deal for and I jumped in.