All Forum Posts by: Stephen Sawrie

@Dmitriy Fomichenko

wait, so I am currently liquidating assets currently held in a tradiational IRA in preparation for movement into a self-directed traditional IRA. you're telling me that I can move these monies just as easily into a roth sd ira?

@Dmitriy Fomichenko

I would love to do a roth but it was my understanding there were income limits that prevented roth?

and I was just using 59 1/2 as an example.  i just wanted to know how to get out when i wanted to and when the time was right

@Brian Eastman

oh, ok.  well, that clears up my recent post.  thanks to all.

I assume that selling the properties is akin to selling stocks held in a traditional IRA?

@Allen Fletcher

I am mainly just thinking ahead, as I am almost done converting my traditional IRA. Re: your reply, I can get my mind around #2 and 3, but scenario #1 seems to involve using my own post-tax money to put cash into my own IRA by buying the properties, only to have that cash taxed again when I take it out of the IRA. I am probably seeing this wrong.

so if your LLC, owned by your SD IRA, owns X number of properties by the time you hit 59 1/2, how do you move it out if you wanted to? (hope this question makes sense)

I also use uDirect. They gave me a couple of names and numbers. I am meeting with Mat Sorenson of KKOS next week to discuss the initiation of an LLC. Look him up. He specializes in SD IRA. I also contacted a gentleman by the name of Scott Smith, but he never returned my calls. Those are the only two I know. My sense is that this is a highly specialized request. When I talk to my local tax attorneys, they look at me as if I am growing a second head.

Very good advice indeed. Thanks to all. I found the self-directed IRA concept by accident. I was on the cusp of taking the 10% penalty and getting my money completely out when I found it. However, very few people seem to know about this other than on boards like this. My CPA knew next to nothing about it but did direct me to ETC. Had a bad experience right off the bat with them and so read about uDirect. Glad to hear positive reviews of them. I have reached out to a guy named Matt Sorenson about the LLC. He seems to have made a career off of this, and if I can get him to call me back I'll probably go with him because when I speak to local tax attorneys they look at me as if I am growing a third head when I discuss this topic.

There is actually a disincentive to helping you move money out

1.  I am going with a gentleman by the name of Jeff Dixon with uDirect.  anyone out there have any information re: individual or company?

2. am leaning towards "checkbook control" with IRA purchase of LLC, which holds the properties. pros? cons?

thanks in advance