Where to put inheritance to be able to use for Flipping business

Question

We are about to inherit our seed money for our flipping business, it is coming from a 403b account, misc IRAs (which are becoming inheritance IRAs), and sale of a single family property.  As we understand it, the distributions for the 403b and the profit from the house will be taxed as income only, still we would rather stretch it out over a few years if possible to pay the minimum taxes possible, but still be able to access in a way to start leveraging for flip properties.  Any and all suggestions apperciated.      Thanks   DnD

Doug Rich · Answer

Roger that,   We have come up with more, and complicated questions and are looking for legal now.  Someone familiar with CA laws as that is where the estate resides, and OR as that is where we are.   Will update later..

Thanks for the bounce backs...  DnD

Brian Eastman · Answer

@Doug Rich

You should have the option of establishing a self directed IRA with the inherited IRA account.  We do that all the time.

With such a plan, you could then invest the IRA into real estate with the gains going to the IRA - just as if the IRA owned stocks.

Since it is an inherited IRA, you will be required to take some level of minimum distributions based on an age calculation. You can of course choose to take more.

Cameron Skinner · Answer

You may be able to roll into a self directed ira and access the money for flips depending on how much labor you are planing to provide.  Talk with @brian Eastman he's an expert on the subject.

Hope this helps good luck

Andy Luick · Answer

Try finding a good financial planner in your market to assist you with placement of those funds.  The advice you would get from us will be about what you paid us for it.  Situations like yours can and are complicated and, depending on the amount of funds, you might require a good tax attorney and financial planner to map out the best strategy for you and yours!  Luck with it.