Invest in More Real Estate with a Solo401k with Ilana Brown, Ep 94

Journey to Multifamily Millions

Episode Summary

Today's guest is Ilana Brown, who is a sales and account manager at Solo401k.com

In this episode, Ilana Brown from solo401k.com explains how these tools offer investors greater control over their retirement funds, enabling investment in a wide range of assets such as real estate, cryptocurrencies, and private equities.

She discusses the requirements for setting up a solo 401k, the importance of qualifying for it, and the process of funding and investing through these accounts. Key considerations like prohibited transactions, contribution limits, and handling business growth are elaborated to ensure investors make informed decisions.

She also answers common questions and pitfalls in managing self-directed retirement accounts, emphasizing the importance of compliance and strategic planning for maximizing retirement savings. Stay tuned!

Episode Topics

[01:20] Meet our guest, Ilana Brown
[03:57] Investment Opportunities and Qualifications for Solo 401k
[11:35] Exploring the Checkbook IRA LLC Option
[16:19] Q&A Session: Navigating Solo 401k and Self-Directed IRA Options
[2023] Understanding Prohibited Transactions and IRS Guidelines
[24:37] Addressing Common Mistakes and IRS Compliance
[28:28] Transitioning from Solo 401k to Self-Directed IRA with Employees
[31:24] Closing Remarks and Future Sessions

Notable Quotes

• "It's your money. Invest in what you want." - Ilana Brown
• "Understand prohibited transactions to protect your retirement savings. Know who you can invest with and what assets are off-limits." - Ilana Brown
• "Let syndications do the hard work for you. With the solo 401k, you're in control." - Ilana Brown
• "Pick the right bank for your solo 401k. Some specialize, making account setup smoother." - Tim Little
• "Checkbook control simplifies investing in syndications and private lending, optimizing retirement funds." - Tim Little

👉Connect with Ilana Brown

• LinkedIn: Ilana Brown
• Website: https://www.solo401k.com/
• Email: [e-mail]

👉 Connect with Tim

• Linkedin: Tim Little
• Instagram: @tim_at_zana
• Email: [e-mail]
• Visit www.ZANAinvestments.com for more info on Tim and how you can passively invest in multifamily real estate
• Get your Passive Investor's Cheat Sheet FREE

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https://podcasts.apple.com/us/podcast/journey-to-multifamily-millions/id1634643497