I have an existing IRA and would like to be able to invest in real estate
using my retirement funds. Please provide me with additional information.
As a Solo 401k provider and self-directed IRA LLC facilitator, we can assist you with opening a self-directed solo 401k or an IRA for investing in real estate.
Here are the main differences between the self-directed solo 401k and the self-directed IRA LLC:
The solo 401k plan is only for those who are self-employed with no full time employees. For example, physicians may open a solo 401k plan provided they are self-employed and don’t employee any full-time employees. Anyone else such as carpenters, landscapers, consultants, architects, engineers, information technology professionals, for example, who are generating self-employment income from services performed, also may open a solo 401k.
On the other hand, you do not need to be self-employed to open an IRA and invest it in a self-directed IRA LLC. The self-directed IRA LLC is commonly utilized by those who are not self-employed and thus do not qualify to open a solo 401k. Therefore, you will be able to transfer your existing IRA to a self-directed IRA custodian and subsequently form an LLC and have the IRA purchase all the membership units of the LLC, resulting in a self-directed IRA LLC.
To learn more about the self-directed solo 401k visit: https://www.mysolo401k.net/Solo401k.html
To learn more about the self-directed IRA LLC visit: https://www.mysolo401k.net/Self-directed-ira-how-it-works.html
You can also call us at 800-489-7571 to speak to our Compliance Officer.