Flipping America 307, Self Directed Solo K's with Dimitriy Fomichenko
We love American IRA and we love self-directed IRA investing. If you haven’t already done so, check out their website today - even right now while you’re listening to the podcast. I know you ladies out there can do this. I’m pretty sure the guys will have to choose looking at the website or really listening - I know I can’t seem to do both. Now THAT’s a great way to get in trouble right from the beginning of the show!
As much as I love self-directed IRA investing I have run into a couple of challenges. The first one was the limitation of contribution - around $5000 per year for most people. The second was the ELIMINATION of contributions. I got a note from my custodian telling me I made too much money and couldn’t contribute any more. Folks, when enterprising entrepreneurs get news like this we don’t just shut down. We find other ways to make our goals happen.
Enter the Solo-K and our guest today.
Dmitriy Fomichenko is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He began his career in financial planning and real estate investing in 2000. He owns multiple investment properties in various states and is a licensed California Real Estate Broker. Over the years, he has taught hundreds of investment and financial planning seminars and has mentored thousands of investors.
Sense Financial Services was inspired by a series of conversations Dmitriy had with his mentors in the real estate investor business. While many were exceedingly successful in their real estate investments, their retirement accounts were losing money. This conundrum prompted Dmitriy to spend several months consulting with industry experts and researching the powerful concept of employing self-directed retirement accounts for investment purposes. Integrating his knowledge of how to successfully manage self-directed IRAs and 401ks with his expertise as an investor and mentor, Dmitriy began consulting individual investors on how to put more thought and diligence into their retirement and investment planning.
Dmitriy founded Sense Financial Services to help his clients maximize their returns on investments while protecting their hard-earned money. He is very passionate about helping families and individuals achieve financial freedom by following proven Biblical principles of financial planning and investing.
Dmitriy resides in Southern California with his wife and 13-year old daughter. In his spare time, he enjoys studying systematic theology, spending time with his family and visiting new places.
He’s coming up in a bit. Also today we are going to tell you the current hottest housing market in the United States. And if you’ve been following me on social media you know I’ve been talking about the housing market and the uptick in non-QM bond sales. Over the weekend I saw a headline, “Fannie Mae official accidently lets the news slip about the next housing crash.” So what’s going on in the real estate market? Is it panic time? The answer to that is “no, it’s NEVER panic time.”
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SponsorsAmerican IRA: www.americanIRA.com
Civic Financial: bit.ly/CivicFunding
Domains.com: bit.ly/GetaSite
Announcements:News:
Show Guest: Dimitriy Fomichenko
https://www.sensefinancial.com/
https://www.linkedin.com/in/dfomichenko/
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