All Forum Posts by: Carl Fischer

Hello @Dominique Pradel-Lewis. In addition to the custodians you're looking at, there are many custodians and administrators out there. BiggerPockets provides a list of self-directed IRA custodians for you to reference on this site. You can check out that list here. Things to consider when choosing a SDIRA custodian are customer service, knowledge, experience, and processing speeds, as they will be integral to ensuring that the investments you have chosen to self-direct are facilitated efficiently. You also mention educational materials such as webinars; since this is something that is important to you in choosing your custodian, make sure you learn about the education each custodian offers in your research. Many investors have found success through investing in alternative assets with their self-directed IRA, including in real estate. You can own residential, commercial, raw or improved land in your IRA. Once you find the custodian that is right for you, you can make investments in alternative assets to grow your future retirement savings through ways that utilize your personal knowledge and expertise. If you have any additional questions, I would be happy to connect.

@Ryan Rader

Think outside the box. Buy it with your Ira and don’t take the penalties on early withdraw. Get the contractor to lend you the money and after it’s fixed up refinance it with a bank or sell it if you can get $799k.

Brad Dornish and Phil Scolieri 

@Paul Ellerbusch

Unfortunately they will sue both-you personally and the LLC. The good thing is you will have insurance and a mortgage -so you will have some protection against law suits.

@Phil P.

I use a lot of other people’s Ira money to provide non recourse loans For my ira properties. Many people want better and safer returns than CDs secured by real estate and it works great for all involved. You can offer 5 times a 5 year cd and still be under 5% Apr.  

@Steve Chan

Tax free income is the main reason I use Roth IRAs and 401ks. 1031s have timing issues sometimes, I'm a "buy and hold" investor and run out of depreciation, property rents increase and produces positive cash flow, more principle gets paid back and less interest creating less write offs. I have real estate and notes inside qualified plans and outside of plans. Tax free income is better than my outside investments even with 1031s. Also always try to invest in what gives you the best ROI in or out of a qualified plan. I hope this helps from 40 years in real estate And RE related investing. I wish everything I own was in a Roth.

@Daniel Dietz- you thought it out-it works for you. It makes sense-Stay with it-

I would keep a Roth IRA for future transfers -so I don't have to take RMDs. The Roth 401k has RMDS when you reach 72 yo. May or may not be a concern for you.

Thank you for reviewing your UBIT numbers and reporting back.

@Corey Depuy yes

@Corey Depuy

You can use the SDIRA to buy real estate and grow your real estate- tax free if you use a Roth or tax deferred if a traditional IRA.
You can always take your money out of your IRAs at any age for any reason. However, in some instances you may have to pay a 10% penalty on some or all of the distribution amount. There are many exemptions where the penalty is waived-the latest is the covid19 cares act which allows Up to a $100k penalty free distribution no matter what age you are. Research irs code 72t distributions for more examples. Tax free income from real estate and real estate related investments, in SDIRAs, is one of the best tools to grow and preserve wealth that I employ. Feel free to contact me if you need any clarification this is one of my strong areas. 

@Corey Husted
You can force the issue and it will cost money. You may win and you may lose and the seller has to also make a decision on how far to push. I find it best to talk directly with the seller and negotiate the EMD now -since it wasn't addressed in the contract. How much is it? How much time, money and effort to recover?

Sometimes I chalk it up to tuition for the future.