Podcasts about dmitriy fomichenko

Let's elevate your apprehension about using retirement accounts in real estate investing with this year's second guest, Dmitriy Fomichenko.Dmitriy will expound on things we need to know about solo 401(k), self-directed IRA, their limitations, and capabilities for real estate. This highly informative conversation will surely be worth your time, so listen until the end of the episode and fortify your financial knowledge!Key Points & Relevant TopicsDmitriy's background and his story as an immigrant from RussiaSense Financial Services, LLC: How it works and the options it provides for its clientsHow does a self-directed IRA work?Transactions prohibited and limitations in utilizing a self-directed IRAWhat is a non-recourse loanIs it possible to use retirement accounts to fix and flip an investment property?How to stay compliant with the IRS in terms of doing transactions within a retirement accountWho is qualified to establish a solo 401(k) and the advantages of setting it up?Resources & LinksApartment Syndication Due Diligence Checklist for Passive InvestorAbout Dmitriy FomichenkoDmitriy 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. Dmitriy holds a designation of Certified IRA Services Professional from the American Bankers Association. Over the years, he has taught hundreds of investment and financial planning seminars and has mentored thousands of investors. Get in Touch with DmitriyWebsite: Sense Financial Services, LLCLinkedIn: Dmitriy Fomichenko CISPFacebook: Dmitriy FomichenkoInstagram: @dmitriyfomichenkoBiggerPockets: Dmitriy FomichenkoTo Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!

Going Long Podcast SERIES HIGHLIGHT Episode 355: How Having The Right Sense Can Go a Long Way in Your Investing Journey ( To see the Video Version of today's conversation just CLICK HERE. ) In the conversation with today's guest, Dmitriy Fomichenko, you'll learn the following:   [00:30 - 03:23] Show introduction with comments from Billy. [03:23 - 07:22] Guest introduction and first questions. [07:22 - 17:12] The backstory and decisions made that led Dmitriy to this point in his journey. [17:12 - 24:41] How Dmitriy's company Sense Financial is helping people with different qualified plans today. [24:41 - 27:57] Some of the responsibilities you should be aware of when investing with Self Directed I.R.A.s. [27:57 - 30:59] Dmitiry explains how you can know the differences between various Qualified Plans and Self Directed I.R.A.s so that you can know what is best for you.  [30:59 - 35:30] Some of the investments and transactions that you can and can't make with a Self Directed I.R.A. [35:30 - 38:06] How leverage or using a loan can impact your ability to invest in something.    Here's what Dmitriy shared with us during today's conversation:    Where in the world Dmitriy is currently: South California. The most positive thing to happen in the past 24 hours: Waking up and realising that every breath is a gift from God! Favourite city in Europe: Riga, Latvia. A mistake that Dmitriy would like you to learn from so that you don't have to pay full price: Learn the difference between investing and speculation!  Book Recommendation: Cashflow Quadrant, by Robert Kiyosaki. https://www.amazon.com/Rich-Dads-CASHFLOW-Quadrant-Financial/dp/1612680054    Be sure to reach out and connect with Dmitriy Fomichenko by using the info below:     Website: https://www.sensefinancial.com/  Instagram: https://www.linkedin.com/in/dfomichenko  Facebook: https://www.facebook.com/dfomichenko/  Bigger Pockets: https://www.biggerpockets.com/users/sensefinancial      To see the Video Version of today's conversation just CLICK HERE.   How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI     Start taking action TODAY so that you can gain more Education and Control over your financial life.   Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Go to https://www.firstgencp.com/goinglong   Be sure to connect with Billy!  He's made it easy for you to do…Just go to any of these sites:   Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels  

Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Click the link HERE.  Going Long Podcast Episode 270: How Having The Right Sense Can Go a Long Way in Your Investing Journey ( To see the Video Version of today's conversation just CLICK HERE. ) In the conversation with today's guest, Dmitriy Fomichenko, you'll learn the following:   [00:30 - 03:23] Show introduction with comments from Billy. [03:23 - 07:22] Guest introduction and first questions. [07:22 - 17:12] The backstory and decisions made that led Dmitriy to this point in his journey. [17:12 - 24:41] How Dmitriy's company Sense Financial is helping people with different qualified plans today. [24:41 - 27:57] Some of the responsibilities you should be aware of when investing with Self Directed I.R.A.s. [27:57 - 30:59] Dmitiry explains how you can know the differences between various Qualified Plans and Self Directed I.R.A.s so that you can know what is best for you.  [30:59 - 35:30] Some of the investments and transactions that you can and can't make with a Self Directed I.R.A. [35:30 - 38:06] How leverage or using a loan can impact your ability to invest in something.    Here's what Dmitriy shared with us during today's conversation:    Where in the world Dmitriy is currently: South California. The most positive thing to happen in the past 24 hours: Waking up and realising that every breath is a gift from God! Favourite city in Europe: Riga, Latvia. A mistake that Dmitriy would like you to learn from so that you don't have to pay full price: Learn the difference between investing and speculation!  Book Recommendation: Cashflow Quadrant, by Robert Kiyosaki. https://www.amazon.com/Rich-Dads-CASHFLOW-Quadrant-Financial/dp/1612680054    Be sure to reach out and connect with Dmitriy Fomichenko by using the info below:     Website: https://www.sensefinancial.com/  Instagram: https://www.linkedin.com/in/dfomichenko  Facebook: https://www.facebook.com/dfomichenko/  Bigger Pockets: https://www.biggerpockets.com/users/sensefinancial      To see the Video Version of today's conversation just CLICK HERE.   How to leave a review for The Going Long Podcast: https://youtu.be/qfRqLVcf8UI     Start taking action TODAY so that you can gain more Education and Control over your financial life.   Are you an Accredited Investor that's tired of getting crushed by paying so much in income tax? Find out how we're helping others like you keep Uncle Sam out of your pocket. Go to https://www.firstgencp.com/goinglong   Be sure to connect with Billy!  He's made it easy for you to do…Just go to any of these sites:   Website: www.billykeels.com Youtube: billykeels Facebook: Billy Keels Fan Page Instagram: @billykeels Twitter: @billykeels LinkedIn: Billy Keels  

The Investor Relations Real Estate Podcast Episode 106 - Investing Using A Self-Directed Solo 401KHost: Jonny Cattani Guest: Dmitriy FomichenkoProducer: April MunsonJonny Cattani is joined by Dmitriy Fomichenko to discuss:Investing using a self-directed Solo 401k Dmitriy 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.Connect with Dmitriy!Website:https://www.sensefinancial.com/Facebook:https://www.facebook.com/dfomichenkoLinkedin:https://www.linkedin.com/in/dfomichenko/Bigger Pockets:https://www.biggerpockets.com/users/sensefinancial    Connect with Jonny!Cattani Capital Group: https://cattanicapitalgroup.com/Invest with us: invest@cattanicapitalgroup.comLinkedIn: https://www.linkedin.com/in/jonathan-cattani-53159b179/Jonny's Instagram: https://www.instagram.com/jonnycattani/IRR Podcast Instagram: https://www.instagram.com/theirrpodcast/TikTok:https://www.tiktok.com/@jonnycattani?lang=enYouTube: https://www.youtube.com/channel/UCljEz4pq_paQ9keABhJzt0AFacebook: https://www.facebook.com/jonathan.cattani.1

ATTENTION Aspiring and Current Real Estate Investors: Are you ready to take your real estate career to the next level? Do you want to learn the exact steps for scaling your real estate portfolio through large, commercial real estate deals? If so, join our FREE training titled, How to Leave Your Job through Commercial Real Estate Investing ***This webinar is for BOTH brand new investors and current investors who want to go BIGGER! Step 1: Visit our website: OneConnectionAway.comStep 2: Fill Out the Registration Form (takes 1 minute)Step 3: Join us Live for our next training.Step 4: Start scaling your portfolio. Go here now to get more info: www.oneconnectionaway.comWant to follow Kingdom REI on Social Media?InstagramYoutube LinkedinFacebook

Title: Building Streams of Passive Income One Step at a Time with Dmitriy Fomichenko   Dmitriy is the founder and president of Sense Financial, 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 interest in several large multi-family properties in various states, as a private lender 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.   Let's tune in to his story! [00:01 - 05:58] Opening Segment Let's welcome my guest for today's show, Dmitriy Fomichenko What drew Dmitriy in the space and how he got in   [05:59 - 27:46] Reach your goals one step at a time Dmitriy shares to us about his Passive Income portfolio The steps Dmitriy did How to build a Passive Income portfolio Basics of Solo 401K's Why should business owners prefer Solo 401K How do you invest in Real Estate Syndications with Solo 401K?   [27:47 - 36:14] Closing Segment  How Dmitriy feels about Passive Investing compared to Active investing Goal: to be on the right side of the cashflow quadrant Final Words Connect with my guest, Dmitriy, in the links below Tweetable Quotes   “I'm just excited and dreaming to teach others about investment.” - Dmitriy Fomichenko   "I no longer speculate, I invest.” - Dmitriy Fomichenko   "I think that should be everyone's goal: to become a passive investor.” - Dmitriy Fomichenko ------------------------------------------------------------------------   Reach out and connect to my guest, Dmitriy, through email dmitriy@sensefinancial.com   Follow his Facebook, LinkedIn, and BiggerPockets profiles, and don't forget to check out their website, https://www.sensefinancial.com/ WANT TO LEARN MORE?   Connect with me through LinkedIn   Or send me an email sujata@luxe-cap.com   Visit my website www.luxe-cap.com or my YouTube channel   Thanks for tuning in!     If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

Welcome back to the Real Estate Nerds Podcast. On today's episode, our host and attorney Scott Smith welcomes Dmitriy Fomichenko, the founder of the financial firm Sense Financial Services LLC. The two investors share an affection for self-directed investing of retirement plan assets, and listeners will get to hear exactly why. In addition, Dmitriy also shares about a pair of lending investments he personally made, and what made one a success and the other a failure. Self-Directed Investing 101Dmitriy sits down with Scott to chat about his business and self-directed investing generally. The two investors explore the role of retirement planning professionals and compare the self-directed options available to investors.[2:00] Dmitriy is an engineer by education. After a lay-off, he transitioned into real estate. During this time, he handled conventional financial accounts. In 2010, he founded Sense Financial, a group that deals exclusively with investors. His clients include many real estate investors, but also lenders and investors in newer nontraditional assets like cryptocurrency. [4:00] Dmitriy and Scott discuss the benefits of self-directed investing. Dmitriy points out that Checkbook Control accounts give investors the power to invest in nontraditional assets. He also shares the various ways to fund self-directed IRAs and 401(k)s. [5:30] Dmitriy briefly compares the self-directed IRA to the Solo 401(k). He feels the self-directed IRA option is somewhat limited by its fairly low contribution limits Although the Solo 401(k) is designed for self-employed individuals and small businesses, many types of professionals can qualify. He believes it is a powerful investment vehicle that allows for a high level of tax savings.[6:50] Dmitriy's company sets up trusts to hold plan assets for clients who own Solo 401(k)s. The client becomes the trustee receives Checkbook Control. He mentions that “You need to be educated on what you can and cannot do, because with freedom comes great responsibility.” [07:25][8:45] The clients Dmitriy works with enjoy the ability to control their assets: “You want to be in control? Use the guidance of professionals with more experience than you, but you should be making the financial decisions. That's what the self-directed 401(k) enables you to do.”[9:30] Scott asks Dmitriy about how investors can evaluate providers of self-directed accounts. Dmitriy explains that there are three self-directed options:A truly self-directed IRA. This is an IRA that does not limit your investment choices. Most custodians will limit your options to financial products they offer, and require you to go through them to make or liquidate an investment. The checkbook-controlled IRA, or IRA-owned LLC. This is Dmitriy's specialty, an IRA account with funds moved to an LLC that the client controls.The self-directed Solo 401(k). Dmitriy believes this vehicle is the “best of all” because of its many benefits, flexibility, and tax benefits.[12:49] Scott asks Dmitriy about Solo 401(k) compliance, and which pieces his company handles and which are the responsibility of the clients. His company deals with plan creation, documentation, and maintaining and updating plan documents per IRS regulations. The client, on the other hand, must control the plan assets and keep accurate records of the investments. Clients can also get assistance with administering the plan from their professionals.[15:00] Dimitriy clarifies the role of companies like his: “We aren't attorneys. Our specialty is the 401(k), so that's what we do. We don't give you investment, tax, or legal advice.” While as an investor himself, Dmitriy certainly may have the experience to offer this type of guidance, he will generally know when to refer clients to a financial advisor or attorney.A Tale of Two Notes: Dmitriy's Best and Worst Solo 401(k) InvestmentsScott asks Dmitriy about some of the best and worst deals he has seen made with the self-directed Solo 401(k). In his line of work, Dmitriy has seen plenty of both.[16:50] Dmitriy decides to begin with an example of a bad deal. This particular example is of a private lending deal. He was advised to use a company offering investments in notes. He chose to invest in a small note for $20,000 tied to a property in Pennsylvania.[17:31] In hindsight, Dmitriy can tell you exactly where he went wrong: “The mistake I made from the very beginning is not doing my due diligence.” He overlooked his part because he trusted the individual who introduced him to the company.[18:04] Dmitriy later invested an additional $43,000 on a separate property. Things went well for a couple of years, until there were major property management and late payment issues. Dmitriy reached out to the owner. It turned out his $20,000 property was in terrible shape, had never been rehabbed as it was supposed to be, and had been vacant. [19:10] Scott asks if what happened with Dmitriy's money was theft--but because Dmitriy was lending the money, it technically wasn't. Again, he emphasizes the importance of doing due diligence on properties: “When you invest in a note, there's always a likelihood that it will be defaulted.” [19:50] He feels he should have discussed his deal with a more experienced investor as part of better due diligence.[21:09] Dmitriy shifts gears into one of his best deals, another note, which helped offset the loss from the first deal he talked about. He made a loan of $43,000 in exchange for the deed to a property worth close to $70,000. He became the landlord and had a tenant paying to live there, and the interest on the note was around the same amount as the rent, effectively doubling his income.[22:03] “If you look at these two notes, I ended up winning. But what I want your listeners to learn from this is you've got to do your due diligence,” Dmitriy tells Scott.The Takeaways: Good Communication and Due Diligence Create WinsOur host and guest conclude by comparing the note deals and sussing out what made one so much better than the other. [23:00] When comparing the two notes, Dmitriy highlights that the win covered the loss. He chose to keep the second property because it was a better value. He could have foreclosed on it, but the borrowers chose to deed it to him instead after defaulting.[24:40] Dmitriy won in part because the people he loaned money to defaulted, and failed to manage their own portfolios well. [26:00}Scott observes that Dmitry's good communication with his borrowers played a major role in his investment's success. In his own line of work with real estate investors, Scott sees a lack of clear, consistent communication contribute to unnecessary losses.

After buying his first property 20 years ago and working full time for a real estate investing firm, Dmitriy Fomichenko started Sense Financial to help people gain control of their retirement savings. Today, Dmitriy is telling us about the Solo 401K for small business owners, how his business dramatically shifted when he introduced them, and why he thinks they're a no-brainer when compared to traditional retirement savings strategies.    Dmitriy Fomichenko Real Estate Background: Founder and president of Sense Financial, a boutique financial firm specializing in self-directed retirement accounts with checkbook control Passive investor, owns interest in multiple MF & self-storage syndications, a private lender and is a licensed California Real Estate Broker.  Based in Orange County, CA Say hi to him at: SenseFinancial.com   Click here to know more about our sponsors: ThinkMultifamily.com/coaching | Rentify | Deal Maker Mentoring

When you are planning for retirement, what do you think is the best way to do it? Well, there are many ways to do it, and we talk about one that really gives you two ways to really leverage your retirement money and buy real estate. We go over what the benefits are for the Solo401K what the drawbacks are and what you as a person can do along with saves in one type or multiple type of retirement accounts. Take a listen as we go over the saves, tax havens, and other asset building with our guest today.

Dmitriy Fomichenko has made it his mission to help others invest their retirement savings on their terms, in the assets they see fit. Is a Solo 401k or Checkbook IRA right for you? Find out!Dmitriy can be reached through his website:www.sensefinancial.comSupport the show

This episode is part 3 of my conversation with Dmitriy Fomichenko. He is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He has tons of experience across the board in real estate, from self-directed IRA, solo-4O1K, single-family homes, to syndication in multifamily, and many more.    Let's jump right into this episode and learn more about the benefits of solo 4O1K and building meaningful wealth.   [00:01 - 09:09] Benefits of Solo 4O1K Dmitriy talks about the benefits of Solo 4O1K business owners and self-employed people. The more income you make, the more tax that you would have to pay. A solo 4O1K is a great tax shelter because it allows you to filter up to $57,000 a year from taxes. If you work together with your spouse, then you will double up. The participant loan Allows you to take a loan from your 401k up to $50,000 for any reason. The amount of the loan depends on the amount of your income  You can shelter your income from taxes and invest that into something that you can control.   [09:10 - 17:29] Build Meaningful Wealth You got to start somewhere and move to the right side of the cashflow quadrant.   Increase your income and your investment, not your lifestyle. If you live like no one else, in a few years, you can live like no one else  If you sacrifice today, so you don't have to sacrifice tomorrow. Be aware of your purchase habit changes. Dmitriy offers a complimentary one-on-one consultation. To contact him, you can visit his website at www.sensefinancial.com/  and book a 15 minutes call to talk about your specific situation. Final words from Dimitriy and me.   Tweetable Quotes: “The more income you make, the more tax that you would have to pay.”- Dmitriy Fomichenko. “With Solo 4O1K, you can shelter your income from taxes and invest that into something that you can control.”- Dmitriy Fomichenko. “Get one thing that sticks with you the most, and apply it.”- Dmitriy Fomichenko.     You can connect with Dmitriy on Linkedin, or you can also visit his website at www.sensefinancial.com/    LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. Are you confused about where to start? Join our community and learn more about real estate investing. Head over to our Facebook Page, Youtube Channel, or website https://www.theacademypresents.com/jointhesummit36848306. Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/. To learn more about me, visit my LinkedIn profile, and connect with me.

This episode is part 2 of my conversation with Dmitriy Fomichenko. He is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He has tons of experience across the board in real estate, from self-directed IRA, solo-4O1K, single-family homes, to syndication in multifamily, and many more.    Let's jump right into this episode and learn more about his amazing experiences.   [00:01 - 09:40] Self-directed IRA Dmitriy shares his opinion about my foresight on hitting the double bottom once the artificial market manipulation is done. Why he chooses to transition from the stock market to real estate. Dmitriy gives a simple explanation of what self-directed IRA is You can invest in anything, except collectibles, an life insurance contract with your IRA, but it depends again on your custodian that limits your choices. The limitation of your custodian. Least prohibited transactions  The disqualified persons   [09:41 - 18:39] Solo 4O1K The difference between self-directed IRA and 4O1K You need a custodian to do a self-directed IRA, and your transaction would depend on them Dmitriy explains the qualification of a Solo 4O1K  Legit self-employment activity or business  Create a trust just for the 4O1K plan You become the trustee for your 4O1K Other benefits of a Solo 4O1K  Dmitriy talks about the Cashflow quadrant book by Robert T Kiyosaki It is a great feeling to have the freedom of making your money works for you That is the beauty of real estate investing; you do not have to jump immediately. It is a process. Move your money to the right side of the quadrant and slowly transition to be a full-time investor.  Tweetable Quotes: “You can literally invest in anything, except collectibles, an life insurance contract with your IRA, but it depends again on your custodian that limits your choices.”- Dmitriy Fomichenko. “Move your money to the right side of the quadrant and slowly transition to be a full-time investor. .”- Dmitriy Fomichenko. “It is a great feeling to have the freedom of making your money works for you.”- Dmitriy Fomichenko.   You can connect with Dmitriy on Linkedin, or you can also visit his website at www.sensefinancial.com/    LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. Are you confused about where to start? Join our community and learn more about real estate investing. Head over to our Facebook Page, Youtube Channel, or website https://www.theacademypresents.com/jointhesummit36848306. Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/. To learn more about me, visit my LinkedIn profile, and connect with me.

In this episode, we are going further with the discussion of the Self-Directed Retirement Account with Dmitriy Fomichenko. He is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts with checkbook control. He is very knowledgeable and experienced across the board in real estate, from self-directed IRA, solo-4O1K, single-family homes, to syndication in multifamily, and many more.    Let's jump right into this episode and learn more about his amazing experiences. [00:01 - 09:30] Opening Segment Let's bring Dmitriy Fomichenko to the show. Dmitriy talks about his background. Immigrated from Rusia He got a degree in electric mechanical engineer. Got introduced and jumped to real estate investing in early 2000. Recruited for a financial services company. He transitioned from working in the financial plan to full-time in real estate in 2004. In 2009 he was given a task to help his clients with self-directed IRA. Dmitriy shares how he branched out and started his own company in 2010.   [09:31 - 15:00] Biblically Based Financial Principles Dmitry shares his struggle and challenges working as a manufacturing engineer. Dmitriy talks about the perks of having an engineering background in the real estate industry. Looking back, everything happens for a reason. The idea behind his company is biblically-based. Dmitriy shares his testimony on applying biblical principles to his finances and investments. Good planning and hard work lead to prosperity, hasty speculation bring poverty.   [15:01 - 19:11] The Difference Between Investing and Speculating Dmitriy talks about the difference between investing and speculating. Stock market vs. real estate  Dmitriy talks about the fluctuation of the mutual funds he has in the market. Tweetable Quotes: “Having an engineering background helps me develop processes and systems that I was able to implement in real estate.”- Dmitriy Fomichenko. “The key is to learn from my mistake and other people's mistakes, and do not repeat that.”- Dmitriy Fomichenko. “Good planning and hard work lead to prosperity; hasty speculation bring poverty.”- Dmitriy Fomichenko.   You can connect with Dmitriy on Linkedin, or you can also visit his website at www.sensefinancial.com/    LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.   Are you confused about where to start? Join our community and learn more about real estate investing. Head over to our Facebook Page, Youtube Channel, or website https://www.theacademypresents.com/jointhesummit36848306. Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/. To learn more about me, visit my LinkedIn profile, and connect with me.

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. It all began when he was laid off as an Electromechanical Engineer. He was forced to look for options and ended up being recruited by a local financial services firm. About the same time, he started investing in real estate and his career in financial planning began. He was given the task to start a department within the company and offer self-directed retirement solutions. In 2010, he founded Sense Financial Services LLC wherein they provide clients with the solution, giving them the opportunity to obtain checkbook control over their retirement accounts. Over the years, he has taught hundreds of investment and financial planning seminars and has mentored thousands of investors.In our conversation, we discussed:How Individual Retirement Account (IRA) and 401(k) worksWhat is solo 401(k), its features and benefits especially for self-employed and business ownersHow you can use leverage inside a 401kHow to obtain checkbook control and have some options here to grow your wealthLove the show? Subscribe, rate, review, and share!Here’s How »Join the Capital Gains Tax Solutions Community today:capitalgainstaxsolutions.comCapital Gains Tax Solutions FacebookCapital Gains Tax Solutions Twitter

In this episode, Lisa Williams interviews Dmitriy Fomichenko, Founder and President of Sense Financial Services LLC.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 individualinvestors on how to put more thought and diligence into their retirement andinvestment planning.Dmitriy founded Sense Financial Services to help his clients maximizetheir returns on investments while protecting their hard-earned money. He isvery passionate about helping families and individuals achieve financial freedomby following proven Biblical principles of financial planning andinvesting. Dmitriy resides in Southern California with his wife and 13-year olddaughter.  In his spare time, he enjoys studying systematic theology, spendingtime with his family and visiting new places.Links:Email: dmitriy@sensefinancial.comWeb: www.SenseFinancial.comDirect: (949) 228-9393  Free Consultation - Click HEREIf you’d like to learn more about working with Lisa and her team directly, go to lisawilliamsco.com and learn how to hire yourself!

Dmitry 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.He lives in Southern California with his wife and a 10-year-old daughter. Dmitry is an active member of Kindred Community Church. [00:01 – 03:19] Opening SegmentLet's get to know Dmitry FomichenkoDmitry talks about his backgroundHow he got involved with financial services industry His journey in investing [03:20 – 17:16] Making a good Financial Investment The difference between a Solo 401k and a Self-Directed IRASignificant benefits of Solo 401kUBIT concerns in Self-Directed IRA and Solo 401kCan you roll over an IRA into Solo 401kHow tax works in retirement accountsRed flags or mistakes people do in Solo 401k Things people that could have done better in investing Investment that will make sense [17:17– 20:10] Closing SegmentDmitry's advice to aspiring investorsTry to find a mentor.How He stays on top of his gameHis way to make the world a better placeHow to reach out to Dmitry– links belowFinal wordsTweetable Quotes:“If you are not sure about something, ask.” – Dmitry Fomichencko“If you don't have a lot of money, it all depends on what you want to invest in.” – Dmitry Fomichencko“One of the things that I am doing is actually networking. Being connected to people and just grown into other people's knowledge. I can't know everything. Don't pretend to. There's so much you can grow from other people.” – Dmitry FomichenckoResources Mentioned: Compassion International------------------------------------------------------------------------------------------Learn more and Connect with Dmitry at LinkedIn and visit their website at https://www.sensefinancial.com/ Connect with me:I love helping others place money outside of traditional investments that both diversify strategy and provide solid predictable returns.Call: 901-500-6191FacebookLinkedInLike, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me --> sam@brickeninvestmentgroup.com

Dmitry 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.He lives in Southern California with his wife and a 10-year-old daughter. Dmitry is an active member of Kindred Community Church. [00:01 – 03:19] Opening SegmentLet's get to know Dmitry FomichenkoDmitry talks about his backgroundHow he got involved with financial services industry His journey in investing [03:20 – 17:16] Making a good Financial Investment The difference between a Solo 401k and a Self-Directed IRASignificant benefits of Solo 401kUBIT concerns in Self-Directed IRA and Solo 401kCan you roll over an IRA into Solo 401kHow tax works in retirement accountsRed flags or mistakes people do in Solo 401k Things people that could have done better in investing Investment that will make sense [17:17– 20:10] Closing SegmentDmitry's advice to aspiring investorsTry to find a mentor.How He stays on top of his gameHis way to make the world a better placeHow to reach out to Dmitry– links belowFinal wordsTweetable Quotes:“If you are not sure about something, ask.” – Dmitry Fomichencko“If you don't have a lot of money, it all depends on what you want to invest in.” – Dmitry Fomichencko“One of the things that I am doing is actually networking. Being connected to people and just grown into other people's knowledge. I can't know everything. Don't pretend to. There's so much you can grow from other people.” – Dmitry FomichenckoResources Mentioned: Compassion International------------------------------------------------------------------------------------------Learn more and Connect with Dmitry at LinkedIn and visit their website at https://www.sensefinancial.com/ Connect with me:I love helping others place money outside of traditional investments that both diversify strategy and provide solid predictable returns.Call: 901-500-6191FacebookLinkedInLike, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in! Email me --> sam@brickeninvestmentgroup.com

Dmitriy Fomichenko Solo 401k and Checkbook IRA for Wealth Growth and Tax Shelter Today Dr. Allen chats with Dmitriy Fomichenko, 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. Over the years, he has taught hundreds of investment and financial planning seminars and has mentored thousands of investors. Sense Financial Services was inspired when Dmitriy realized that many successful real estate investors were not properly sheltering their money. With this realization, Dmitriy founded Sense Financial Services to help his others maximize their returns on investments while protecting their hard-earned money. In today's chat, listen to Dmitriy's journey from immigrant with zero English proficiency to successful financial planner and accomplished real estate investor.  He'll inspire us with his journey from limited prospects and multiple set-backs to triumph through persistence and self-determination.  3 Key Points: Educate yourself financially Learn from your setbacks Protect your assets through intentional financial planning Connect with Dmitriy: https://www.sensefinancial.com/ contact@sensefinancial.com 949-228-9394   -=-=-=-=-=-=-=-=-=-=-=-=-=-=Steed Talker  =-=-=-=-=-=-=-=-=-=-=-=-=-=- Download our FREE Guide to PREDICTABLE, RELIABLE, PASSIVE INCOME TO LIVE LIFE ON YOUR OWN TERMS -=-=-=-=-=-=-=-=-=-=-=-=-=-=Steed Talker  =-=-=-=-=-=-=-=-=-=-=-=-=-=- Connect with Us: Passively invest with us to put your hard earned money to work for you to live more abundantly in all areas of life Email: Allen@steedtalker.com Let's chat: Schedule a FREE 30 minute phone conversation =+=+=+=+=+=+=+=+=+=+=+=+=+==*==+=+=+=+=+=+=+=+=+=+=+=+=+= Want to appear on our podcast?  Contact Us    

#54: In all my prior jobs except the current one, I can now say in hindsight that my 401k sucked.It only offered 10-15 fund options…which is like being forced to shop for weekly groceries in a gas station mini-mart when you know that Kroger is on the other side of the street.Their fund expense ratios were mediocre, even for the passive funds. You couldn’t beef up pre-tax money with additional after-tax money. There was no mega-backdoor Roth conversion option.These are really easy ways for companies to create value for employees via 401k plans. Why they are so often deficient when it comes to these things, I’m sure I don’t know.Luckily, there is a way you can take greater control over your 401k money (or IRA for that matter) to invest more freely and build wealth.It’s called a self-directed retirement account.This week, I chat with Dmitriy Fomichenko, a financial planner who specializes in using self-directed retirement accounts “with checkbook control” to beef up your investing and retirement planning strategy.What you’ll learn:What is a self-directed retirement account, the different types that exist, key risks, and how they differ from traditional retirement accountsThe process for setting up a self-directed retirement account, and how to fund itMaintenance costs associated with self-directed accountsThe role of the custodian / trustee / administrator for self-directed accountsHow to access your self-directed account funds to invest (and key differences here between 401k vs. IRA versions)What kind of assets you can invest in with a self-directed account, and how income and expenses generated by those investments are treatedWhy mixing outside funds with self-directed account funds is such a big no-no, and the consequences if you doCheck it out here:https://hackyourwealth.com/self-directed-retirement-account-401k-IRAAre you satisfied with your 401k? Why or why not? Does a self-directed account sound appealing? Why or why not? Let me know by leaving a comment when you’re done.Don't miss an episode, hit that subscribe button...If you liked this episode, be sure to subscribe so you don’t miss any upcoming episodes!Apple PodcastsOvercastSpotifyStitcherI need your help, please leave a listener review :)If you liked this episode, would you please leave a quick review on Apple Podcasts? It’d mean the world to me and your review also helps others find my podcast, too!Links mentioned in this episode:Sense Financial free consultationList of non-recourse lendersEverything you need to know about 401Ks (HYW003)IRAs, Roth IRAs, and how to get the tax benefits of BOTH (HYW004)18 real estate investors share what they wish they knew at college graduationHYW private Facebook communityIntro/Outro: Old Bossa by Twin Musicom.

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. Dmitriy resides in Southern California with his wife and 9-year old daughter. In his spare time, he enjoys studying systematic theology, spending time with his family and visiting new places.

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. (00:01-04:46) Opening Segment - Introduction of the guest, Dmitriy Fomichenko into the show - Dmitriy shares something interesting about himself (04:47-30:27) The Journey to Real Estate Investing and Using Self-Directed IRA to Invest in Real Estate - Dmitriy tells how and when he started to invest in real estate - Benefits of investing out of state - Dmitriy shares where he invests and the asset class he invests in - Advantages of investing in private money lending - How to value the asset, market, and team? - Worst Deal Dmitriy had - Best Deal Dmitriy had - Biggest lesson Dmitriy learned from investing in the various asset class - Dmitriy's recommendation for people who cannot do solo 401K? Is Self-Directed IRA better? - Difference between Solo 401K and Self-directed IRA - Why use a self-directed IRA to invest in real estate? (30:28-30:53) BREAK (30:54-30:59) Second Segment - Welcoming listeners back and re-introducing podcast guest, Dmitriy (31:00-34:55) Fire Round - Will Dmitriy change his business strategy after Coronavirus? - Favorite real estate finance or and personal development related book? - Website or tools that Dmitriy recommends - How does Dmitriy give back? - How can Wealth Matters Podcast listeners reach out to Dmitriy? (33:56-34:19) Closing Segment Reach out to Dmitriy by visiting his website www.sensefinancial.com

Why should you consider having a self-directed IRA and how does it differ from a traditional IRA? What are your investing options? What restrictions and rules do you need to watch out for? Jordan Goodman, host of The Money Answers Show, talks wtih Dmitriy Fomichenko about the tax free investing options a self directed IRA opens up, why it can be like your own private bank, and who should consider one. In the second half of the show Goodman talks with Bill Perkins, author of Wall Street Journal best seller ‘Die With Zero.' Perkins and Goodman talk about a different sort of investment – investing in life experiences. Why live anxiously guarding your resources when you could be living large while still having enough? Perkins talks with Goodman about the importance of including play in your life, why you don't want to end up with more money than time to live, and how to optimize your assets to help you live the largest, most experience rich life possible.

Why should you consider having a self-directed IRA and how does it differ from a traditional IRA? What are your investing options? What restrictions and rules do you need to watch out for? Jordan Goodman, host of The Money Answers Show, talks wtih Dmitriy Fomichenko about the tax free investing options a self directed IRA opens up, why it can be like your own private bank, and who should consider one. In the second half of the show Goodman talks with Bill Perkins, author of Wall Street Journal best seller ‘Die With Zero.' Perkins and Goodman talk about a different sort of investment – investing in life experiences. Why live anxiously guarding your resources when you could be living large while still having enough? Perkins talks with Goodman about the importance of including play in your life, why you don't want to end up with more money than time to live, and how to optimize your assets to help you live the largest, most experience rich life possible.

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. Website: https://www.sensefinancial.com/ https://www.biggerpockets.com/users/SenseFinancial Facebook: https://www.facebook.com/dfomichenkoLinkedIn: https://www.linkedin.com/in/dfomichenko  

Dmitriy Fomichenko, Founder of Sense Financial, joins us to discuss using the Solo 401k as a powerful tool to direct retirement funds into alternative investments. We discuss CARES Act changes, huge contribution limits, how the process works, and much more. Connect with Dmitriy at https://www.sensefinancial.com/. Discount available for DJE listeners, be sure to mention this […]

We know that having a diverse investment portfolio is important for you to be able to weather any storms. So, what if there was a way to use your 401(k) or IRA to invest in real estate? Luckily there is, and today’s guest, Dmitriy Fomichenko, is here to share more on solo 401(k)s and checkbook control, which are both vehicles that help you cast a wider investment net. We kick off the episode by learning more about what self-directed IRAs and solo 401(k)s are. We learn about the advantages of each of them, along with the specific criteria that need to be met to hold either of these investment vehicles. We then move onto why checkbook control is preferable over a custodial account. Not only it is more flexible, but you also save on fees. From there, we look at how W-2 employees can use a side job to benefit from UBIT tax. Finally, we round the show off with some final advice from Dmitriy and his last four questions. Be sure to tune in today!Key Points From This Episode:Learn more about Dmitriy’s background and what he’s currently involved with.Find out what self-directed IRAs are.Solo 401(k)s: What they are, fulfilling criteria to get one and some powerful benefits.Custodial account versus checkbook control: The differences and pros of a checkbook.Some common prohibited actions associated with 401(k)s and IRAs.Consequences of committing prohibited actions and the importance of knowing the ropes.The benefits of using a solo 401(k) over an IRA for real estate investing.How W-2 employees can benefit from UBIT and the importance of having multiple incomes.Find out how Dmitriy started investing in multifamily syndications.Self-directed IRAs and solo 401(k)s are incredibly versatile investment vehicles!Final four questions with Dmitriy His biggest mistake Tweetables:“Solo 401(k) is a great alternative to self-directed IRA. Solo 401(k) is specifically designed for those people who are self-employed or own a small business..” — @dfomichenko [0:04:36]“Solo 401(k) is designed as a trust of which you are the trustee as a client.” — @dfomichenko [0:07:46]Links Mentioned in Today’s Episode:Sense Financial ServicesFree Sense Financial Services ConsultationDmitriy FomichenkoDmitriy Fominchenko on Twitter FidelityCharles SchwabMerrill LynchWayne PattonWayne Patton’s phone numberLimitless EstatesLimitless Estates on YouTubeLimitless Estates Monthly MeetupLimitless Estates EmailPassive Income Through Multifamily Real Estate Facebook Group Free Call with Kyle or Lalita

Contact: Dmitriy Fomichenko's LinkedIn https://www.linkedin.com/in/dfomichenko/Sense Financial Services https://www.sensefinancial.com/Facebook https://www.facebook.com/dfomichenkoEmail dmitriy@sensefinancial.comOutline of the Episode:[00:00:52] Introduction: Growing up in Russia, moving to the U.S., mechanical engineering, and solo 401(k)'s.[00:07:49] Don't rely on just your full-time job, diversify your income sources! [00:09:55] A solo 401(k) crash course: What is it, and what benefits does it give you?[00:14:25] Is it possible to use a solo 401(k) in combination with a health savings account? Is that even profitable?[00:15:47] The similarities between a Solo 401(k) and Self-Directed IRAs in purchasing real estate or investing.[00:19:23] The heavy risks to partnering with your IRA or 401(k). What is a prohibited transaction? If you commit one, which of the two allows you to fix it?[00:23:45] Dmitriy's secret to utilizing the benefits of 401(k)'s himself.[00:25:10] There are tax liabilities we should pay attention to for 401(k)'s. What are these?[00:28:10] The existence of a Roth component of the solo 401(k). How does that work?[00:30:52] Requirements to meet if you want to get 401(k)'s.[00:34:25] Is there a profit margin that you need to consider? How much would that be?[00:38:00] Distributions taken from Roth IRAs are tax-free, right? What about the Roth component of a Solo 401(k)? How are the tax-deferred and tax-free differentiated?[00:40:50] Dmitriy had a painful but fruitful path to financial freedom.[00:43:00] They can because they think they can, and they can't because they think they can't!Support this show http://supporter.acast.com/the-real-estate-lab. Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.

Dmitriy is the Russian born President of Sense Financial Services. He specializes in setting up a self-directed IRA‘s and solo 401(k) for the purpose of real estate investing through your retirement account. He has experience buying fixing up and running properties but today spends most of his time private lending and note investing. Dmitriy is just the expert we've been wanting to have on the show to demystify self-directed retirement accounts and how they can be used for real estate investing.    This podcast is edited and managed by Derrick Michaud Shelby Row Productions, LLC www.shelbyrowproductions.com

Have you ever considered a Self-Directed 401k for buying Real Estate or being a Hard Money Lender as a self employed individual?   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.   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.   On today’s episode of Life Worth Chasing, Chase and Dmitry talk all things Solo 401k and how and why you should be taking advantage of it today.   What is a Solo 401k What are the advantages of a Solo 401k What type of investing can be done with it How do taxes work with it How to buy Real Estate with it How to make passive income from being a Private Lender with it Traditional vs. Roth 401k   https://www.sensefinancial.com/ Get Your First Month Free w/ Audible Best Payroll Provider For Self-Employed Click Here For All Your Skip-Tracing Needs Learn More About Generating Real Estate Leads w/ Facebook Ads   Questions or Comments? Send Chase an email to chase@chasemaher.com   Follow Chase on Twitter Follow Chase on Instagram Follow Chase on YouTube

The problem with custodian-held retirement accounts is that they don't give account holders much room to direct the way their money gets invested. Self-directed retirement accounts, on the other hand, offer a host of benefits in this regard. They allow account holders to move from a stocks/bonds model into all types of other investments, such as real estate! Today's guest is Dmitriy Fomichenko from Sense Financial, and he joins us on the show to speak about how he helps his clients start self-directed retirement accounts with checkbook control at his firm. After emigrating to the US in 1996, Dmitriy pursued careers in electromagnetic engineering, finance, and real estate too. In this episode, Dmitriy tells us about how he got introduced to real estate investing after buying a fixer-upper forecloser property and enjoying huge yields due to the market cycle at the time.

Dmitriy is an entrepreneur, private lender and real estate investor, he is also the founder and president of Sense Financial Services LLC, 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. For complete show notes, please go to https://realestateinvesting365.co/dmitriy-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.” 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.  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’t mind.  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’s 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.  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’s 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.   News: The nation’s hottest market for flipping houses?https://www.housingwire.com/articles/hottest-home-flipping-market/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=78048718&_hsenc=p2ANqtz-8KPulsPrFNnJ_2Pgol9HGkwqrLdGkCqfRV0ygk1stGEzWEPx55W-hTBSuEI-AUAkpYxiBCXKkA4L_MgGoGEtqPOChcr6KX7ucqYdPe5DvyeVFYm5I&_hsmi=78048718 One of our key indicators is the foreclosure rate. Here’s a new report from HousingWire. https://www.housingwire.com/articles/u-s-foreclosure-rate-drops-to-20-year-low/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=78115035&_hsenc=p2ANqtz--0m3octmb_tWFSSE6NdvpMbSqUyGY4rTYW6MVE5cmwcOiGYftkVUom6pHy2X5yLA3DQCgkf2Aa3-UHv5fqMInOdQDJCB-yeYOkXDLxksFd4EPxYFs&_hsmi=78115035 We have a story about wording changes on the new Uniform Residential Loan Application.https://www.housingwire.com/articles/exclusive-senate-democrats-call-on-fhfa-to-undo-changes-to-new-uniform-residential-loan-application/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=78217468&_hsenc=p2ANqtz-_Rv5w9t92jAxVXG-ggCc_AvIX_r-rTqyJXEdp2pghtOEIQU3AFKUwUYjbkSOEl8lVPUh-Y7e6F_9mcNUlIG1NJy1xvY3zTVSF8JNWwr-6gBC78krg&_hsmi=78217468 Here’s the headline: The hidden housing problem: There just aren’t enough houses on the market. https://www.housingwire.com/articles/the-hidden-housing-problem-there-just-arent-enough-houses-on-the-market/?utm_campaign=Newsletter%20-%20HousingWire%20Daily&utm_source=hs_email&utm_medium=email&utm_content=78232269&_hsenc=p2ANqtz-9wMYfJLXPW7AQB7rqBxT07zrFlwm7uz-hZMdyzt3E9A0gOhaJIHfc1xzmvQ7FL1h_1WOmqYxm7Ey5I0tGRhEx8qA6_LPTqpXaLWbrTCIoGNWgzxKM&_hsmi=78232269 Roger’s comment: There are many reasons to explain a slowdown in home purchases or new loan applications. It’s not an automatic link to the current interest rate and in fact it almost certainly is NOT a factor. Supply of available housing is a much more likely candidate for the blame. Show Guest: Dimitriy Fomichenko https://www.sensefinancial.com/  https://www.linkedin.com/in/dfomichenko/ https://www.facebook.com/dfomichenko    Your Questions: Send emails to questions@rogerblankenship.com Debbie, Brookfield, WI, “Someone told me I should be using social media in my business. That seems to make sense but I have no idea how to proceed.” Georgia, Clearwater FL, “Why is the 1% rule a rule? What’s the thinking?” Natalie, Alexandria, VA “Does 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.” Comment Line calls and Questions Call 404-369-1018, press 1 and leave your message!  Motivational Thoughts for the day   “No Masterpiece was ever created by a lazy artist.” --Anonymous  

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. Connect with Dmitriy: https://www.sensefinancial.com/ — To learn about our investment strategy and business plan If you’re interested in real estate investing, particularly passive real estate investing Dwaine Clarke has the resources you need to achieve financial freedom and wealth. If you are an accredited investor you can partner with Dwaine in a passive investment opportunity, receiving all the benefits of an active owner without being an active owner. http://passiveinvestorsclub.com/invest-with-us/

Pancham interviews Dmitriy Fomichenko, President, Sense Financial Planning. In this show, Dmitriy gives answers to some commonly asked questions about Self-Directed IRA's.  This show starts off with Dmitriy explaining the nuances of a Self-Directed IRA in simple terms. What are the Pros & Cons of investing your IRA funds? We also compare a Self-Directed IRA to a Checkbook IRA, and reveal the right option for you. Can you invest your IRA funds in alternative assets? Can your IRA own a commercial business? And, what are the tax implications of investing your IRA funds outside of Wall Street? We wrap up this show with our “Taking the Leap” round. If you are looking for ways to earn higher returns, this is a show that you do not want to miss. Tune in for some excellent nuggets! Resources:For more details visit: www.TheGoldCollarInvestor.com/show11 Download free report on top 6 reasons to invest outside of wall-street:www.TheGoldCollarInvestor.com/download  

Dmitriy Fomichenko is the founder and president of Sense Financial Services LLC, a boutique financial firm specializing in self-directed retirement accounts and checkbook control. He began his career in financial planning and real estate back in 2000. He owns multiple investment properties in various states and is a licensed California real estate broker. Over the years, he’s taught hundreds of investment and financial planning seminars and mentored thousands of investors. Dmitriy founded Sense Financial Services to help his clients maximize their return on investment while protecting their hard-earned money. He’s very passionate about helping families and individuals achieve financial freedom by following proven, biblical principles of financial planning and investing.

Dmitriy Fomichenko, real estate investor and President of Sense Financial Services, LLC, teaches us how to shelter hundreds of thousands of dollars from retirement funds or income from taxes through the self-directed solo 401(k). He talks about the pros and cons of checkbook control, the impact of having a custodian, and not simply having a solo 401(k). 

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 10-year old daughter.  In his spare time, he enjoys studying systematic theology, spending time with his family and visiting new places. Key Points Solo 401(k) – what it is & how to use it Solo 401(k) vs. IRA vs. Employer Sponsored 401(k) Roth vs. Traditional – What is right for you? Lightning Questions What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Dmitriy had no experience nor money. He overcame that by being wise with his personal finances while learning about the world of real estate investing. Do you have a personal habit that contributes to your success? Dmitriy prides himself on his determination. When he sets a goal, he is diligent in reaching it. Do you have an online resource you find valuable? BiggerPockets What book would you recommend to the listeners and why? https://amzn.to/2PIiMhf (Cashflow Quadrant) by Robert Kiyosaki If you were to give advice to your 20 year old self to  get started in real estate investing, what would it be? Start early, use leverage wisely and continue to build your wealth. Resources https://www.sensefinancial.com/ (Sense Financial) https://www.sensefinancial.com/contact-us/ (Contact Sense Financial) and let Dmitriy & the Sense Financial team you heard about them on The Real Estate Way to Wealth and Freedom podcast for a 10% discount!  Visit http://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 (Audible) for a free trail and free audio book download! Contact http://www.JacobAyers.com/contact (Jacob)  

There are many ways to creatively finance real estate properties, and today on the podcast, we’re highlighting the incredible benefits of a solo 401k. This is an amazing investment type that you can utilize in order to maximize your benefits. If you’re looking to get the most bang for your buck out of your investment tools, this episode is for you!    On this episode of Investing in Real Estate, I’m sitting down with Dmitriy Fomichenko, the founder and president of Sense Financial Services to discuss the mind-blowing power of a solo 401k! Dmitriy is well versed on the ins and outs of solo 401ks, and he’s here to share his knowledge. We’re discussing the wide array of benefits of using a solo 401k, and how it can help you on your investing journey.   Book a call with our team: https://goo.gl/dezwHT  Show notes: http://morrisinvest.com/episode362  

Anybody who has some retirement account feels that they're not in control of those funds. If you're just investing in the stock market, you’re not in control. We can't do much about the future or how the investment is going to perform, but there are alternative investment opportunities that can give you much greater degree […]

Within a SDIRA or or self-directed 401k, Dmitriy explains how to obtain a retirement home the right way. Dmitriy Fomichenko goes over how to purchase a property within your SDIRA. He also goes over how the taxes work when you determine that a property inside your SDIRA will become your retirement home. To learn more about FlipNerd's Real Estate Investor Coaching Program, visit FlipNerd.com/Coaching.

Within a SDIRA or or self-directed 401k, Dmitriy explains how to obtain a retirement home the right way. Dmitriy Fomichenko goes over how to purchase a property within your SDIRA. He also goes over how the taxes work when you determine that a property inside your SDIRA will become your retirement home. To learn more about FlipNerd's Real Estate Investor Coaching Program, visit FlipNerd.com/Coaching.

"This is episode #370, and my guest today is Dmitriy Fomichenko – a self directed retirement account expert. If you’re listening or watching right now, I know you're passionate about real estate investing, and have an interest in building wealth, using real estate as a vehicle. Many of us start out that way, but end up getting so caught up in the day to day that we don't focus on sheltering as much of our income as we otherwise could, or focus enough on building for the long term. In today’s episode, we talk all about the Ultimate Retirement Plan for real estate investors, and a little known (to most), but super powerful way to build long term wealth as a real estate professional. Get a pen or pencil ready…you're going to want to take some notes today! Please help me welcome Dmitriy to the show. Get your copy of our FREE "Profiting with Rental Properties" Guide!

"This is episode #370, and my guest today is Dmitriy Fomichenko – a self directed retirement account expert. If you’re listening or watching right now, I know you're passionate about real estate investing, and have an interest in building wealth, using real estate as a vehicle. Many of us start out that way, but end up getting so caught up in the day to day that we don't focus on sheltering as much of our income as we otherwise could, or focus enough on building for the long term. In today’s episode, we talk all about the Ultimate Retirement Plan for real estate investors, and a little known (to most), but super powerful way to build long term wealth as a real estate professional. Get a pen or pencil ready…you're going to want to take some notes today! Please help me welcome Dmitriy to the show.  Get your copy of our FREE "Profiting with Rental Properties" Guide!

If you're part of the minority that is aware of self-directed retirement accounts for real estate investing, you're likely much more familiar with self-directed IRA's. Dmitriy Fomichenko shares the power of another vehicle, the self-directed Solo 401K in this FlipNerd.com Expert Interview. It's a fascinating discussion, and if you're not aware of this awesome tax saving vehicle, you need to be! Check it out! Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko elaborates on who can use a self directed IRA and how to utilize them to your benefit. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko goes over Solo 401K Participation Loans and how you can use them to fund your investments without having penalties or taxes. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko goes over Solo 401K Participation Loans and how you can use them to fund your investments without having penalties or taxes. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko goes over how to purchase a property within your SDIRA. He also goes over how the taxes work when you determine that a property inside your SDIRA will become your retirement home. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko goes over how to purchase a property within your SDIRA. He also goes over how the taxes work when you determine that a property inside your SDIRA will become your retirement home. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko shares how to avoid hidden UBIT taxes, including how buying real estate in your Solo 401k is exempt. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko shares how to avoid hidden UBIT taxes, including how buying real estate in your Solo 401k is exempt. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko explains how your Solo 401k plan can act as a private bank and you're able to borrow from yourself. Dmitriy goes over the length of time you're able to borrow from your Solo 401k and how you can obtain a loan for purchasing a property. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko explains how your Solo 401k plan can act as a private bank and you're able to borrow from yourself. Dmitriy goes over the length of time you're able to borrow from your Solo 401k and how you can obtain a loan for purchasing a property. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Retiring wealthy is a goal for most people in life. Dmitriy Fomichenko explains how using a Solo 401k plan can be utilized to your benefit, as being self-employed or a small business owner. Listen in as Dmitriy explains the power a Solo 401k plan has to offer and how you can invest with alternative assets inside of it. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Retiring wealthy is a goal for most people in life. Dmitriy Fomichenko explains how using a Solo 401k plan can be utilized to your benefit, as being self-employed or a small business owner. Listen in as Dmitriy explains the power a Solo 401k plan has to offer and how you can invest with alternative assets inside of it. Get your copy of our FREE "Profiting with Rental Properties" Guide!

Dmitriy Fomichenko emphasizes how growing your lists are only helpful when they're quality contacts with a similar interest and actually want to hear from you. Instead of having a large number of people unsubscribe or mark you a spam, focus on building your list with people who will appreciate your message. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko emphasizes how growing your lists are only helpful when they're quality contacts with a similar interest and actually want to hear from you. Instead of having a large number of people unsubscribe or mark you a spam, focus on building your list with people who will appreciate your message. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Today, Dmitriy Fomichenko talks to us about how he created short videos answering questions about his field of expertise and how it grew his audience. In any business, marketing and growing your audience in crucial. Listen in as Dmitriy explains what worked for him and what his results were. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!

Today, Dmitriy Fomichenko talks to us about how he created short videos answering questions about his field of expertise and how it grew his audience. In any business, marketing and growing your audience in crucial. Listen in as Dmitriy explains what worked for him and what his results were. For a limited time, access a FREE Master Class called the "Real Estate Millionaire Blueprint" HERE!

In the classroom today, Dmitriy Fomichenko teaches us a little bit about how to make the most out of your self directed IRA account. Knowing we have no control over the stock market, investing your retirement account into real estate can give you the control you desire. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Dmitriy Fomichenko talks to us about using the right IRA to generate tax free income for retirement. Setting yourself up to live comfortably when you retire can be easily done through retirement plans. Find out how to make the most out of your yearly contributions. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

In the classroom today, Dmitriy Fomichenko teaches us a little bit about how to make the most out of your self directed IRA account. Knowing we have no control over the stock market, investing your retirement account into real estate can give you the control you desire. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

Show #016: Dmitriy Fomichenko talks to us about using the right IRA to generate tax free income for retirement. Setting yourself up to live comfortably when you retire can be easily done through retirement plans. Find out how to make the most out of your yearly contributions. Do you want to be a real estate investor but need step-by-step guidance to help get you started? The Investor Machine is a 90-day program with training, weekly tasks, bi-weekly group calls, and more! Schedule a free call to discuss your goals today!

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 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. 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. We also take a look at another available turnkey investment property in our Deal of the Day segment. – – – – – – – – – – – – – – Download your FREE copy of: The Ultimate Guide to Passive Real Estate Investing. Get your FREE coffee mug by leaving us a Rating and Review on iTunes. Here’s how. See our available Turnkey Cash-Flow Rental Properties. Please give us a RATING & REVIEW (Thank you!) SUBSCRIBE on iTunes | Stitcher | Podcast Feed Learn more about your ad choices. Visit megaphone.fm/adchoices