The Benefits Of Using Self-Directed IRAs And Solo 401ks For Investing In Real Estate with Brett Synicky

Guest: Brett Synicky, a self-directed IRA and solo 401k consultant at Sense Financial with over 10 years of real estate investing experience and a licensed California real estate agent, helps individuals achieve financial independence through smart real estate transactions.Episode Highlights:Introduction and Brett's Background:Brett began his real estate journey while working a W-2 job, following his family’s footsteps in Southern California real estate.After purchasing multiple properties during the boom, he learned during the 2008 financial crisis that profits are made at purchase, not from assumed appreciation.In 2014, he transitioned to a full-time real estate career, joined Sense Financial, and specialized in self-directed IRAs and solo 401ks.Lessons from the 2008 Financial Crisis:Brett shared how his interest-only loans came due, and he realized relying on W-2 income for property losses was unsustainable.This experience shifted his focus to helping others adopt smarter investment strategies.Benefits of Self-Directed IRAs and Solo 401ks:Brett highlighted the benefits of these accounts, including greater control over retirement funds, investment flexibility, and "checkbook control" for faster, fee-reduced transactions.They allow investments in nearly anything except collectibles and life insurance.Real Estate Inside and Outside Retirement Accounts:Brett discussed the advantages of holding real estate both inside (tax benefits) and outside (depreciation and other tax advantages) retirement accounts.He recommended balancing both strategies for optimal financial growth.Strategies for W-2 Employees:W-2 employees can invest in real estate through a self-directed IRA, even if their 401k is tied up with a current employer.Leaving a job allows for rolling over a 401k into a self-directed IRA or solo 401k, opening more investment opportunities.Solo 401k Advantages:Solo 401ks offer higher contribution limits than IRAs and no UBIT on leveraged real estate, making them ideal for self-employed individuals.Even side businesses can qualify, providing flexibility for those with a full-time job and a side business.Click On This Link For Our Free E-Book "An Introduction Into Apartment Syndication: https://moonlightcre.com/ebook_download/Website: ericlindseydiversify.comClick On The Link Below To Schedule A Call With Eric:https://calendly.com/moonlightequitiesgroup/scheduled-conversationClick On The Link Below For More Information About Eric Lindsey:https://linktr.ee/ericlindsey