Updated over 10 years ago on . Most recent reply
Borrowing money from my brother
If I'm borrowing money from my brother's self directed IRA and paying back with interest for my first fix and flip, do I need to open a LLC or can I do it as a personal investment? My accountant told me I don't need to open a LLC and that it could be more difficult to sell the property from a LLC. He also told me to do a simple mortgage between me and my brother and that I don't need to report the deed if it's a flip. Does this sound like sound advise? He is a CPA, I've been using him for my home improvements business for over 17 years and in my opinion is very good at what he does. Thanks, Nick