using IRA money to invest in LLC

[Rebecca Schneider]

anyone have any good experiences with the financial companies who are offering to let you use your IRA funds to invest in a LLC that gets created for the purpose of purchasing real estate. I see a lot of options advertised on the Internet but wonder about the customer experience.

[Dmitriy Fomichenko]

Originally posted by @Rebecca Schneider:

anyone have any good experiences with the financial companies who are offering to let you use your IRA funds to invest in a LLC that gets created for the purpose of purchasing real estate. I see a lot of options advertised on the Internet but wonder about the customer experience.

Rebecca, what you are referring to is IRA owned LLC (aka Checkbook IRA). In order to set one up you need a custodial account with self-directed custodian (not just financial company), then you need help of a facilitator or attorney to create the special purpose LLC. The IRA will buy LLC units and you become the manager. As manager of the LLC you have total control over your retirement funds.