Listen to “Bonus: How to Buy Rental Properties With a Solo 401(k) With Ross Powell” on Spreaker.
Did you know you may be able to use the money in your retirement account to buy rental properties?
On this bonus episode, Ross Powell, an expert in using Solo 401(k)s to invest in real estate, explains how rental investors can use retirement savings to purchase properties and why a Solo 401(k) may offer some big advantages over a self-directed IRA.
Ross walks us through a real-world example of how to buy a rental property inside a Solo 401(k), including how the purchase works, how financing works, and what happens to the rental income.
We also talk about some of the potential pitfalls of self-directed IRAs, the rules around managing properties and making repairs, and how non-recourse loans work when buying rentals with retirement money.
Ross shares common mistakes investors make when setting up Solo 401(k)s, who should consider this strategy, and who might be better off using another approach.
We also discuss who qualifies to open a Solo 401(k) and how you may be able to move money from an existing employer-sponsored 401(k) into a Solo 401(k).
More From Ross:
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