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Registered
Join Date: Jan 2003
Location: Los Angeles, CA
Posts: 2,099
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Checkbook Solo 401K for IRA investments?
Does anyone here have a checkbook solo 401K that holds real-estate in it?
I'm looking for advise, experiences or problems. Thanks
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1982 SC |
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09-04-2020, 11:52 AM
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Registered
Join Date: Jun 2007
Location: Lake Oswego, OR
Posts: 6,060
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I looked into this. Everyone hated the idea and pushed back. My one takeaway is that you have to be 100% hands off. Property management will do everything.
Curious to see other answers better than mine. |
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09-04-2020, 06:07 PM
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Registered
Join Date: Jan 2003
Location: Los Angeles, CA
Posts: 2,099
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My understanding is that you can manage the property but not take a fee for doing it. You absolutely can not work on it, stay there, or use it personally in any way.
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1982 SC |
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09-04-2020, 09:07 PM
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Registered
Join Date: Jun 2007
Location: Lake Oswego, OR
Posts: 6,060
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I also recall that a mortgage / financing was goofy. Meaning, I was encouraged to buy for cash or a huge down. Which, sort of screws up the real estate leverage formula.
After hearing this, I stopped pursuing this as a financing option. My take only. |
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09-05-2020, 05:36 AM
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Registered
Join Date: Jan 2003
Location: Los Angeles, CA
Posts: 2,099
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Yes I heard that too. I'm doing an all cash deal so that is not a factor. I'm trying not to pay a huge tax and penalty by taking money out of an IRA by transferring it to a Checkbook solo
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1982 SC |
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09-05-2020, 06:15 AM
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