Self-directed IRA
I have been trying to educate myself on the advantages of a Self-directed IRA vs Roth IRA.
My curiosity was peaked when I listened to a Podcast recently about a gentlemen that purchases "investment properties" with his Self-Directed IRAs. In addition, he mentioned that he purchases "investment properties" for his children (who are minors) with the Self-directed IRAs.
A Couple of more questions:
- Can you use a Self-Directed IRA similar to a "Checking Account". Can I purchase property through it and make monthly payments through it allowing the "Cash Flow" to gain interest?
- Can I roll my current Roth into a Self-directed IRA?
- Typically, do investors form a LLC when using a Self-directed IRA when purchasing property?
Looking forward to responses from BP members.
Thanks,
Beau Jensen