Updated over 9 years ago on . Most recent reply
Dad's SDIRA
Hello so I am trying to buy my second property. I am trying to figure out a way to raise some money. I know I plan on starting a Corp. my dad has a few hundred thousand in his 401k. Can he move part of that money to a SDIRA and invest in my business. He is 52 years old. He does not plan on taking money our for retirement for at least 5-10 years. I feel it would gain him more money by helping me invest then leaving it in the market. I would like to flip my next few properties to get some cash in my bank account. But I also want to add rentals to my portfolio. Can he invest in both? I am assuming he could not be a partner in the business since it would be like paying himself? Thanks in advance for your guys help with this!!