Investor · Clearwater, FL · Member since 2009 · 181 posts · 14 votes
I currently utilize a self-directed IRA. My IRA monies have been invested in a real estate project. I'm coming out of that investment soon and I now want to use those IRA monies for buying at trustee sales. This "Checkbook IRA LLC" seems like it could be the ideal vehicle for this. I'm not familiar with their workability, validity with IRS, etc.
Does anyone use or know about these? Thanks in advance.
Real Estate Consultant · yucaipa, CA · Member since 2008 · 233 posts · 109 votes
17y
Your all making great comments about Self Directed IRA's. They have their place for some clients. However, The Ultimate Plan for RE. Investors is the Solo Roth 401K.(Self employed bus owners) Don't need the LLC, Don't have to worry about UBIT etc. It's not only a Self Directed plan but it's Self Managed-no outside custodian-You are the custodian. You also, can rollover all other IRA', s Keogh's, Sep's, etc, into one plan. You can also legally combine your IRA with your Spouse's IRA.
The other outstanding feature is that you and your spouse can take out private loans up to $50K ea. and use the money for anything you wish.
Mathews Realty Group
Agent/Investor
Retirement Planning Advisor
(removed)