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.

For more info, contact Brett at [email protected].

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