Summary: Since the early 2000′s, the number of self-directed IRAs has more than doubled! These plans give individuals the ability to invest into assets that they understand and can control such as real estate. Investors who have knowledge and expertise in a particular investment can purchase them in a tax-free or tax-deferred environment<br> <br> The and Checkbook IRA and Solo 401k are viable solutions that allow you to investment in virtually any asset including real estate, provide you with “Checkbook Control” over your retirement account, and minimize or eliminate custodian fees.<br> <br> In this episode we talk to Dmitriy Fomichenko the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control.<br> <br> We also take a look at another available turnkey investment property in our Deal of the Day segment.<br> <br> - - - - - - -<br> <br> Download your FREE copy of:<br> The Ultimate Guide to Passive Real Estate Investing.<br> <br> See our available turnkey investment properties.<br> <br> SUBSCRIBE ON ITUNES | Stitcher | Podcast Feed<br> <br> Click here to give us a RATING & REVIEW<br> <br> <br> <br> <br> Investing Using Your Retirement Accounts<br> Today’s show is about self-directed IRAs and Solo 401Ks. What is that? These are retirement accounts. A lot of people don’t realize what they can and can't do with retirement accounts. Most people use these accounts to sock away some savings and then invest in mutual funds or the stock market, which I don’t personally think is a great investment. A lot of people don’t realize that you can turn those retirement accounts into self-directed retirement accounts where you can actually invest in whatever asset class you want.<br> <br> There are very few restrictions but the great thing about it is you can invest in passive income investments like notes and income producing real estate. You can do this quite easily and you can have complete control over it. You know I’m big on control. It’s my ninth rule of successful real estate investing. When you have the control to invest and direct the funds within your retirement account into assets that you have complete control over as well because they’re hard assets, then you have an amazing and a powerful combination.<br> <br> The contribution limits on some of these retirement accounts are actually quite impressive. A lot of people don’t even realize that they can do a lot more with their retirement account than what they are told they can do by their financial planners or stock advisers or custodians, because they really don’t know about it or they don’t want you investing in other assets. Today, we have a great guest who is someone I've known for many years. He specializes in working with investors who want to use their retirement accounts to invest in real estate related assets.<br> <br> <br> <br> I’d like to introduce and welcome Dmitriy Fomichenko to the show. Dmitriy is the founder and president of Sense Financial Services, a boutique financial firm that specializes in self-directed retirement accounts with checkbook control. He began his career in financial planning and real estate investing fifteen years ago. He now owns multiple investment properties in various states and is a licensed California real estate broker. Dmitriy, welcome to the show.<br> <br> Thank you, Marco. It’s great to be here with you.<br> <br> I love your subject matter. I think it’s going to be invaluable to our listeners. Let’s begin by just asking the question: Where are you located?<br> <br> Here in Southern California, in Orange County.<br> <br> I met you back in the mid-2000s. Back then I know you were involved in selling investment properties, so you had your feet wet with investment property. My question is, at least to get things started,
