There are many ways to creatively finance real estate properties, and today on the podcast, we’re highlighting the incredible benefits of a solo 401k. This is an amazing investment type that you can utilize in order to maximize your benefits. If you’re looking to get the most bang for your buck out of your investment tools, this episode is for you!
On this episode of Investing in Real Estate, I’m sitting down with Dmitriy Fomichenko, the founder and president of Sense Financial Services to discuss the mind-blowing power of a solo 401k! Dmitriy is well versed on the ins and outs of solo 401ks, and he’s here to share his knowledge. We’re discussing the wide array of benefits of using a solo 401k, and how it can help you on your investing journey.
More About This Show
Dmitriy Fomichenko’s background is interesting—he immigrated to the United States from Russia in 1996, with no knowledge of the English language. Real estate investing piqued his interest, and he began attending seminars and increasing his knowledge base. He eventually began purchasing properties.
He then got into financial planning as a career path, helping clients with conventional retirement accounts. As his real estate portfolio grew over time, he realized that his properties were yielding higher returns than conventional investments. He changed paths, and went to work at a real estate investment firm.
In 2010 when the market was down, Dmitriy realized an opportunity—many people wanted to buy real estate, but were unable to obtain financing. He started a business that helped his clients gain checkbook control over their retirement accounts in order to invest outside of the stock market. One of those options is to invest in real estate!
In his role at Sense Financial Services, Dmitriy specializes in self-directed retirement accounts with checkbook control. Approximately 95% of his client base is focused around solo 401ks. If you’re interested in learning more about a solo 401k, Dmitriy is offering a complimentary consultation to listeners of Investing in Real Estate. You can contact his team at 949-228-9394.
Today on the podcast, Dmitriy is sharing all the benefits of solo 401ks. We’re discussing purchasing rental properties from a solo 401k, lending from a solo 401k, and more! This strategy is an absolute game changer; don’t miss episode 92 of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with my team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- What qualifications are there to open a solo 401k?
- What are the tax benefits of a solo 401k?
- Do you have to use a loan-servicing company when lending out of your solo 401k?
- What is the difference between a traditional 401k and a solo 401k?
- What are the two major reasons someone would select a self-directed IRA instead of a solo 401k?
- And much more!