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Ed Stryker, Home Buyer in Flagler Beach, FL

Thinking about using my 401k to buy a retirement home/condo to rent or lease out when were not there. Any suggestions?

Asked by Ed Stryker, Flagler Beach, FL Tue Mar 16, 2010

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You can use a self-directed IRA or 401k for real estate investing. However, you would NOT be able to live in--or personally benefit from--the real estate itself (except as an investment). There's essentially an iron wall between your use of the funds (as an investor) and your personal use.

Here are some companies that offer self-directed IRAs. Most/all also have extensive information on their sites about what you can--and can't--do.

http://www.trustetc.com/
http://www.securitytrustcompany.com/
http://www.penscotrust.com/

Hope that helps.
Web Reference: http://www.trustetc.com/
0 votes Thank Flag Link Tue Mar 16, 2010
Don Tepper, Real Estate Pro in Burke, VA
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