Flipping America 307, The Solo-K with Dmitriy Fomichenko

podcast 307 Solo-K investing

What is a Solo-K and how can it be used to further your real estate investing? Here’s how.

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



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@flippingamerica.net. 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. 


American IRA: www.americanIRA.com

Civic Financial: bit.ly/CivicFunding

Domains.com: bit.ly/GetaSite


  • 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.  


Show Guest: Dimitriy Fomichenko



Your Questions:

  • 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.”

Motivational Thoughts for the day

  • “No Masterpiece was ever created by a lazy artist.” –Anonymous

Expected Air Date: Thursday 10/17/19

Guest: Dmitriy Fomichenko

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