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All Forum Posts by: Michelle Martin

Michelle Martin has started 1 posts and replied 3 times.

Post: Using Self Directed IRA

Michelle MartinPosted
  • Real Estate Investor
  • Fairfax, VA
  • Posts 3
  • Votes 1

Thank you everyone for your replies to my questions.  Very helpful! @Dmitriy Fomichenko, I will be sure to read the blog post you suggested.  Thanks again!

Post: Using Self Directed IRA

Michelle MartinPosted
  • Real Estate Investor
  • Fairfax, VA
  • Posts 3
  • Votes 1

Hello,

I'm sort of a newbie real estate investor. Currently, I own my primary residence and 1 rental property. My goal is to own another 30 rental properties in the next 3-5 years with a monthly net cash flow of $500 and cash on cash return of 15% or greater. Ultimately, I want to replace my current income from my J-O-B and focus on real estate investing full time and other things. My questions are - How can I use my self directed IRA to purchase an investment property? I have about 25k in the SDIRA account, can I at least use it for a downpayment? How about using 401k? I apologize in advance if these questions have been asked before but I'm trying to get a better understanding...

Thanking you in advance.

Best

Michelle

I'm interested. Looking forward to reading the guide.