The Solo 401k can be invested in real estate
Orange County, CA (PRWEB) May 14, 2013
Over 200 real estate investors and business professionals attended the monthly event of the Orange County Investment Club FIBI (For Investors By Investors). The highly attended event featured Bruce Norris, the national real estate speaker and host of The Norris Group Real Estate Radio Show. The meeting was held on Tuesday, May 7th at the Hilton Irvine - Orange County Airport Hotel in Irvine, CA.
The evening began with a bonus presentation by Leonard Baron. The San Diego State University professor led a hands-on tutorial on income taxes. Attendees were encouraged to bring their 2012 tax forms to learn the basics of Form 1040 and Schedule E. The half-hour presentation included a walk-through of the forms as well as an explanation of depreciation, write-offs, and deductions. Mr. Baron is the author of “Real Estate Ownership, Investment and Due Diligence 101: A Smarter Way to Buy Real Estate” and several other books. He is also the Principal of the LPB Services, a real estate finance, investment, and economics consulting firm.
Bruce Norris of The Norris Group was the featured speaker of the event. His presentation “California Real Estate Market is Poised to Pop” explained the current state of the real estate market as well as the factors that point to changes in the future. Inventory mix, buyer demand, low interest rates, and Wall Street participation affect the current and future market, according to Mr. Norris. His presentation included a comprehensive interpretation of research data and statistics. Mr. Norris also highlighted the opportunities and strategies needed to thrive in today’s real estate market.
Mr. Norris is best known for his accuracy in long term market timing trends. His written works include “The California Comeback Report” in 1997 and “The California Crash” in 2006. The well-known real estate educator hosts a radio show that features interviews with economists, government leaders, and industry experts.
The event also included a presentation by Sense Financial Services. “‘The Ultimate Retirement Plan” highlighted the self-directed Solo 401k retirement account. Small business owners and self-employed individuals are eligible for the IRS-qualified plan. The simplified structure allows additional options to plan participants. “The benefits of the Solo 401k are many,” explained Sense Financial Services president, Dmitriy Fomichenko. Advantages of the plan include high contribution limits, checkbook control, and loan feature. The unlimited investment capability of the plan allows investment in both traditional and non-traditional assets, such as real estate. This enables plan participants to achieve true diversification of retirement savings. Sense Financial Services is California’s leading provider of self-directed retirement accounts.
Attendees stayed after the presentations for a time of networking. The Orange County Investment Club FIBI consists of local real estate investors, entrepreneurs, and business owners. The group regularly hosts similar events to provide opportunities for education, discussion, and networking.
About Orange County FIBI:
The Orange County Investment Group was created to unite investors and business owners in order to learn, network, and exchange thoughts and ideas. Members of the group include real estate investors, brokers, agents, lenders, business owners, and entrepreneurs. All are welcome to join. The Orange County FIBI meets on the first Tuesday of every month in Santa Ana, CA.
For more information, please visit: meetup.com/Orange-County-FIBI/.
About Sense Financial Services:
Sense Financial is California's leading provider of retirement accounts with “Checkbook Control”: the Solo 401k and the Checkbook IRA. Over the years, they have assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them with the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval.
To learn more about the solutions they provide, please contact: (949) 228-9393.