I have a ROBS 401k to fix and flip properties. I have purchased two single-family residences that are great rentals. Could I sell those properties to an LLC I own or that my family members own? I would plan on selling the properties for the assessed value. The ROBS would get active income from flipping and the family would get to keep the rental.
I have a ROBS 401k to fix and flip properties. I have purchased two single-family residences that are great rentals. Could I sell those properties to an LLC I own or that my family members own? I would plan on selling the properties for the assessed value. The ROBS would get active income from flipping and the family would get to keep the rental.
Thanks
No the property is prohibited from sold to yourself or an entity owned by a related person.
Benton City, WA · Member since 2014 · 135 posts · 50 votes
6y
my understanding is that you can't sell it to yourself or your llc, or your son/daughter/parent/sibling. Granparent, yes, you could. but I'd definately ask a pro first. We have a company servicing our ROBs (guidant) that we can ask questions of, or you could ask an attorney. sorry, i know this is an old thread, but i'm sure the question will come up again, and there isn't a lot of info out there on this subject, so I thought I'd chime in. :)