Self Managing rentals in a self-directed IRA
Hey BP'ers,
I have an out of state rental that was bought in my IRA and I have been researching absentee property management in hopes that I can kick the property managers out... I have to call the PM each month to make sure the the tenant pays because they don't post the payments until the following month and if the tenant didn't pay then 40 days later I find out, so frustrating.
Anyways, I wanted to know if any one self manages their rentals that are owned by their self directed IRA or a trust? Can I self manage a property bought in my IRA? I know there are lots of rules regarding what I can do myself but I am assuming that if I have the tenants pay the trust directly that maybe it will be fine? Or will I just need to find another property management company?
Thanks,
Brian Lauchner
Most Popular Reply
I posted a blog on BP regarding this exact topic, check it out.
Can I be the property manager for my IRA-owned real estate?
Managing out of state property on your own is no easy task (for anyone). While you can make decisions for your IRA and put things in motion, your are limited to mental capacity. There are a few diagrams in the blog that I think you'll find helpful. Cheers!