Buying my own property with a self-directed IRA.
Hello all,
My name is Michael, and I am totally new to real estate investing. Although, I do own one rental property in CA.
My long term goal is to acquire more rental properties and flipping houses. I have never flipped a house before, have no clue how to start, and quite fearful of taking that first step! Anyhow, that is something I must push myself to overcome!
After months of reading up and learning everything I can about real estate investing, I have decided to open a sel-directed IRA to start my REI Venture. I am curious as to whether I can use the self-directed IRA to buy my own house?
Any feedback, opinions, or guidance would be greatly appreciated!
Most Popular Reply
Welcome to BP. A few years ago, I transferred my IRA to a self-directed IRA and now have 3 rentals producing monthly income. I wrote an article about my experience for investorjunkie(dot)com. You can google it (not allowed to put the link here).
Ruth Lyons