Self directed IRA


#1

I would like to use my small IRA to begin doing Lonnie deals or just financing. Can anyone direct me to more information with regard to how to structure this venture? I’m not sure if I can actually buy and sell with my IRA or just loan the money. My IRA is with a company that will allow me to self direct.

Any other ideas for maximizing this would be helpful. At this point it’s not large enough to buy a MHP yet.


#2

people much smarter than me say:

First, convert it to a Roth

Then, set up a LLC with a trustworthy manager who is not related to you, get a bank account for the LLC, have the manager sign all of the checks, and direct your custodian to invest your Roth money in the LLC.

Then go to work.


#3

TRY GUIDANT FINANCIAL, PENSCO OR EQUITY TRUST COMPANY.

ALL SPECIALIZE IN SELF DIRECTED IRA’s. The big no no is self dealing, but they will spell everything out.

If found the annual costs ( $500 or more), make this a less attractive option unless you have big $$.