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Can I finance a property in my self directed IRA?
I want to convert my husband's Roth IRA to a self directed Roth IRA to buy properties with. He doesn't have quite enough to purchase a house yet. Is it possible to finance a property in a self directed IRA?
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Michael Plaks
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Michael Plaks
#1 Tax, SDIRAs & Cost Segregation Contributor
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#1 Tax, SDIRAs & Cost Segregation Contributor
- Tax Accountant / Enrolled Agent
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Minor technical correction: you cannot convert your husband's IRA into anything, only he can. :)
Also, this is not a "conversion" - you only need to move the funds to a custodian who allows using their funds as self-directed.