I'm new to this forum, so please forgive me (or redirect me, via links) if I'm repeating other questions like mine. I searched the forums without success to find this info.
I'm eligible for a Solo Roth 401K, and want all my investments to be in real estate, which I understand and can control. Ideally, I'd like to have checkbook control via an LLC; I have five LLCs presently and like them.
Can I self-direct investments within a mainstream-managed Solo 401K (Fidelity, etc) or do they require it all to be in mutual funds and "investments" that they can control? Any ideas about how much it costs to set up a Solo 401K like this if I can't accomplish it within the traditional companies?
How, if at all, can I transfer/sell any of my current real estate holdings into my Solo 401K without self-dealing? Though I surely will find more good-deal properties, I want to get started and I have some now that would be a good, cash-flowing fit.
It's my understanding that Solo 401K accounts are not subject to UBTI (Unrelated Business Income Tax) and UBFI (Unrelated Debt Financed Income). Since I sometimes buy with 100% seller financing, this would be a great way to direct my better deals right into a great retirement vehicle.
Thanks for any insights!
I'm eligible for a Solo Roth 401K, and want all my investments to be in real estate, which I understand and can control. Ideally, I'd like to have checkbook control via an LLC; I have five LLCs presently and like them.
Can I self-direct investments within a mainstream-managed Solo 401K (Fidelity, etc) or do they require it all to be in mutual funds and "investments" that they can control? Any ideas about how much it costs to set up a Solo 401K like this if I can't accomplish it within the traditional companies?
How, if at all, can I transfer/sell any of my current real estate holdings into my Solo 401K without self-dealing? Though I surely will find more good-deal properties, I want to get started and I have some now that would be a good, cash-flowing fit.
It's my understanding that Solo 401K accounts are not subject to UBTI (Unrelated Business Income Tax) and UBFI (Unrelated Debt Financed Income). Since I sometimes buy with 100% seller financing, this would be a great way to direct my better deals right into a great retirement vehicle.
Thanks for any insights!