- Created on Wednesday, 01 May 2013 11:09
- Written by IVN
Los Angeles, California - The highly attended “Million Dollar Trade Show and Landlording Conference” concluded last week in Long Beach, CA. The annual conference is the premier event of the Apartment Owners Association of California, the largest association of apartment owners in the nation.
The April 25th event was held at the Long Beach Convention Center. Residents from Southern California, including Los Angeles and Orange County, came to the day-long event, which featured seminars, exhibits, and networking opportunities.
Apartment managers, rental housing professionals, and real estate investors learned of the latest developments in the rental housing industry. Attendees heard from several featured speakers on relevant issues such as tax reduction, asset protection, estate planning, forecasting the real estate market, tenant screening, and investing strategies.
Sense Financial Services sponsored and attended the event. Their exhibit featured self-directed retirement plans, such as the Solo 401k and the Checkbook IRA. Both plans feature checkbook control, which enables the participant to direct funds and investments with the simplicity of writing a check. Sense Financial is California’s leading provider of retirement accounts with checkbook control. Their products appeal to many within the real estate industry who qualify for the account and use its unlimited investment capability to invest in real estate.
The IRS-qualified Solo 401k is a traditional 401k plan that has been simplified for the self-employed and small business owner. Solo 401k rules for eligibility are two-fold- the participant must have the presence of self-employment activity and the absence of full-time employees. The exception is for a spouse who is also involved in the business. Full-time employees are defined as working over 1,000 hours per year. Participants of the plan must meet Solo 401k rules for eligibility in order to qualify. The self-employment required for the plan can occur on a part-time basis and in conjunction with full-time employment elsewhere.
Solo 401k rules also allow investments in both traditional and non-traditional assets. The plan can be invested in foreclosures, commercial and residential properties, notes and raw land. The investment capability of the plan appeals to real estate professionals and investors who desire to diversify retirement savings by investing in real estate. The Solo 401k offers additional benefits for real estate investors, such as ease of administration. The checkbook control of the plan enables participants to make investments by simply writing a check or wiring funds from the account. Decisions involving the fund can be made without custodian consent, eliminating additional fees and delays. The plan also includes a loan feature, which allows participants to borrow from the Solo 401k for any purpose. The loan can be made for up to $50,000 or 50% of the account, whichever is less.
Many attendees found the “Ultimate Retirement Plan” exhibit of great interest. The exhibit focused on Solo 401k rules and advantages. Questions were answered by Sense Financial representatives who attended the conference and were available for additional information.
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.