Self Directed IRA users

6 Replies | San Jose, California

Hi Everyone! Does anyone have experience using a self directed IRA in the Bay Area for flips or real estate investing? If so, please reach out as I have a few questions for you on the process!

@Spencer Hsu

I am not in the bay area, but I would be able to assist you with questions on the process of using a SDIRA to invest in real estate.

Hi Spencer,  

An IRA real estate investor is combining the investment in a deal and the tax advantages of the IRA. Your IRA provider can help you with the actions to take to secure the tax advantages, but the choice of investment strategy and asset is made by the account holder and their real estate and/or financial team, whoever that may be. Having the IRA provider in your local area is not as critical as having real estate expertise in the locale that you are targeting for investment.

@Spencer Hsu I have assisted many clients with utilizing SDIRAs for RE investment.

The process begins with choosing the right custodian. Dig a little deeper for those which are offering free seminars in your area, possibly through a meet-up or even ask for an initial consultation with a representative. They will educate you on the ins and outs.

Pay close attention to fees and turn around times for deposits/withdrawals that the custodian states to you.

If you have any questions feel free to give me a ring, happy to help.

Suggest you talk to a local CPA. 

Not popular because most investors in the Bay area uses llc and a separate bank account. It takes years of IRA savings to purchase a property locally but in other states homes are more affordable. SDIRA seems to make sense.