Podcasts Business Flipping America Flipping America 307, Self Directed Solo K's with Dimitriy Fomichenko

Flipping America 307, Self Directed Solo K's with Dimitriy Fomichenko

Published: Dec. 8, 2019, 5 p.m.

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We love American IRA and we love self-directed IRA investing. If you haven\\u2019t already done so, check out their website today - even right now while you\\u2019re listening to the podcast. I know you ladies out there can do this. I\\u2019m pretty sure the guys will have to choose looking at the website or really listening - I know I can\\u2019t seem to do both. Now THAT\\u2019s a great way to get in trouble right from the beginning of the show!\\xa0

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\\u2019t contribute any more. Folks, when enterprising entrepreneurs get news like this we don\\u2019t just shut down. We find other ways to make our goals happen.\\xa0

Enter the Solo-K and our guest today.\\xa0

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.\\xa0 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.

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Sense Financial Services was inspired by a series of conversations Dmitriy had with his mentors in the real estate investor business.\\xa0 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.\\xa0 In his spare time, he enjoys studying systematic theology, spending time with his family and visiting new places.

He\\u2019s 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\\u2019ve been following me on social media you know I\\u2019ve been talking about the housing market and the uptick in non-QM bond sales. Over the weekend I saw a headline, \\u201cFannie Mae official accidently lets the news slip about the next housing crash.\\u201d So what\\u2019s going on in the real estate market? Is it panic time? The answer to that is \\u201cno, it\\u2019s NEVER panic time.\\u201d

How to contact us

www.RogerBlankenship.com

Facebook.com/flippingamericamedia

Twitter and Instagram @FlippingAmerica

Call our National Comment Line: 404-369-1018, ext 1. Leave your message or your question.\\xa0

Email your questions to questions@rogerblankenship.com. Please always tell us where you are from. We like to know where the show is being heard. And let us know how you found out about us if you don\\u2019t mind.\\xa0

Sponsors

American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Domains.com: bit.ly/GetaSite

Announcements:

  • Lunch with me every Wednesday. Baraonda
  • My latest article in Forbes is out. bit.ly/findredeals.
  • The FAN is here!
  • Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That\\u2019s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.\\xa0
  • Flipping America App is in the app store. You can listen to the show, read the show notes, and the entire catalog of shows is now available to you. It\\u2019s a free download and there are no upsells or in-app purchases. Free to download, free to listen. Go ahead and give it a try and drop me a line and let me know what you think.
  • Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.\\xa0\\xa0

News:

Show Guest: Dimitriy Fomichenko

https://www.sensefinancial.com/\\xa0

https://www.linkedin.com/in/dfomichenko/

https://www.facebook.com/dfomichenko\\xa0

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Your Questions: Send emails to questions@rogerblankenship.com

  • Debbie, Brookfield, WI, \\u201cSomeone told me I should be using social media in my business. That seems to make sense but I have no idea how to proceed.\\u201d
  • Georgia, Clearwater FL, \\u201cWhy is the 1% rule a rule? What\\u2019s the thinking?\\u201d
  • Natalie, Alexandria, VA \\u201cDoes it seem reasonable that I could buy a nice house that just needs updating and make a profit? There are lots of those around here I could buy in the 300s, fix up for about 50 and sell in the 600s. This sounds a little too good to be true, so I thought I would reach out for your thoughts.\\u201d

Comment Line calls and Questions

Call 404-369-1018, press 1 and leave your message!\\xa0

Motivational Thoughts for the day

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  • \\u201cNo Masterpiece was ever created by a lazy artist.\\u201d --Anonymous

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