Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

19
Posts
2
Votes
Swati V Patel
  • Suwanee, GA
2
Votes |
19
Posts

Use IRA LLC to purchase my current primary residence

Swati V Patel
  • Suwanee, GA
Posted

Hello everyone.

I will be moving out if state over the summer. I need recommendation on what are best options for my current primary residence. Right now I owned with my husband. We need upfront investment to start new active business at where we will be moving. I have come up with best option is to purchase with IRA LLC to get cash from build up equity when selling. Once I move I can rent or resell if need to. Is that legally valid to do it? ARE there other better ways to get cash to purchase active small business. Appreciate all the best recommendation.

Most Popular Reply

User Stats

980
Posts
822
Votes
Edward B.
  • Investor
  • Midlothian, VA
822
Votes |
980
Posts
Edward B.
  • Investor
  • Midlothian, VA
Replied

NO! You are a disqualified person and cannot sell something to your IRA. You could wind up disqualifying your entire IRA with significant tax consequences.

Loading replies...