How do I purchase Real Estate with funds from an IRA?
July 1st, 2009 by IRA Rollover
Erik K asked:
I understand that it is legally permissable to purchase investment real estate (not REITs, but real property) with funds held within an IRA. If I have an IRA at a brokerage company, how do I go about doing this? Also, are there limitations? Lastly, if payments are made by a tenant in this property, do the rent payments get deposited into the IRA in the same way that a stock or bond pays a dividend that gets deposited into the IRA?
I did a little research and found a site that indicates that there is a substantial difference between having a “Self Directed IRA” and a “Self Directed IRA LLC”, the latter not requiring you to “get permission” for every single transaction or thing done with the real estate. Further thoughts on this?
I understand that it is legally permissable to purchase investment real estate (not REITs, but real property) with funds held within an IRA. If I have an IRA at a brokerage company, how do I go about doing this? Also, are there limitations? Lastly, if payments are made by a tenant in this property, do the rent payments get deposited into the IRA in the same way that a stock or bond pays a dividend that gets deposited into the IRA?
I did a little research and found a site that indicates that there is a substantial difference between having a “Self Directed IRA” and a “Self Directed IRA LLC”, the latter not requiring you to “get permission” for every single transaction or thing done with the real estate. Further thoughts on this?
http://www.myrealestateira.com/faq.html
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