FlySkyHigh |
05-29-2018 11:02 PM |
Quote:
Originally Posted by Blueskies21
(Post 2604941)
I may look into the self directed IRA at some point ( I was aware they exist) I've heard there's a good deal of red tape related to using them to buy/manage real estate
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It's not really all that complicated. The nickle version is that you can't do work yourself, you can't use the real estate at all for yourself, you can't personally profit, and no one in your linear family can do any of these either. Two examples: Don't buy a beach rental then stay there for even a day; Don't pick up a screwdriver to fix the door knob or do the paining yourself.
I have used my IRA to buy real estate and made much more than the stocks I sold to fund my Self Directed IRA. There are a number of sources online to educate yourself.
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