# SOLO 401K for Real Estate LLC

**URL:** <https://discussion.mainstreetbusinesspodcast.com/t/solo-401k-for-real-estate-llc/344>\
**Category:** Retirement Accounts and Strategies\
**Created:** [August 20, 2023, 11:04pm UTC](https://discussion.mainstreetbusinesspodcast.com/t/solo-401k-for-real-estate-llc/344 "2023-08-20T23:04:42Z")\
**Posts on this page:** 1\
**Page:** 1

<div class="post-metadata">

**Author:** ![aljunior](https://avatars.discourse-cdn.com/v4/letter/a/c6cbf5/32.png) [@aljunior](https://discussion.mainstreetbusinesspodcast.com/u/aljunior)\
**Post date:** [August 20, 2023, 11:04pm UTC](https://discussion.mainstreetbusinesspodcast.com/t/solo-401k-for-real-estate-llc/344/1 "2023-08-20T23:04:42Z")

</div>

Good afternoon,

I have some money saved up from having my own business which is a Restaurant. I would like to start saving for my retirement but not sure where to start. I heard about a SOLO 401K but in my restaurant I have full time employees, so I don’t think I would qualify thru that business. Now ,I have a Multi Use property that is generating around $8,000 a month in rents. That property is under an LLC, can I use the income from that property to pay myself and open a SOLO 401K? If so how would I set it up? The current members of the multi use property are my wife and I. Should I add Both of us to payroll or can it just be me?

Thank you so much for taking time to answer my questions.