Has anyone here purchased Real Estate using a Self Directed IRA?

Asked by Vicky Chrisner, 20176 Sun Jul 27, 2008

I am interested in your experiences. If you didn't know how COULD do this, but would like more information, Email me - VChrisner@Kw.com if there is enough interest, I am considering putting together a webinar.

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Larry Hotz, Agent, Cherry Hills Village, CO
Sat Oct 11, 2008
I went to a seminar on this topic 3 years ago. The essence of it was that it was possible if you use an Custodian like the firm who put on the seminar and used a non-recourse loan like the one I have have linked below.

There were other restrictions like not using the property yourself as a second home.also, all rentals had to be arm lengths transactions and not made to family members.

When I researched this, I found that there were IRS cases where IRA holders were penalized when they made withdrawals to purchase rental property. I discussed this with my accountant, he pointed out that the advice that the IRS get you over the telephone is not binding in this matter and he would advise against it.

So, I suspect that it may be possible but also not without some risk.
1 vote
Jeff and Gin…, Agent, Vero Beach, FL
Sun Jul 27, 2008
Just call your attorney or the IRS and ask. I know that you can buy REIT real estate investment trust shares but I am not sure about an individual home. That is an interesting idea. Are you already aware that this is possible and allowed? Do you have an IRS ruling on the issue. I would be very interested in a webinar. Please contact me at ginny@MyVeroBeachRealEstate.com
1 vote
Daniel Cordo…, Other Pro, Austin, TX
Sun Nov 16, 2008

If you want help from a professional self-directed IRA group please visit this site http://www.myrealestateira.com ask for Dan
0 votes
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