Quote:
Originally Posted by nanci2539
Did anyone use a self directed IRA to purchase real estate property? If so, who did you use to facilitate this.
Thanks
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A while ago I hear an attorney discuss doing this. It can be done. You can also manage the property if it is owned by a corporation or LLC but you have to be very carefully to make sure you set everything up to be legal. I would expect management costs to be a big part of the decision on doing this.
The IRA could purchase a limited master partnership interest that owned real estate but it is possible that LMP's could have taxable income even inside an IRA.
My point is it can be done, but be sure you hire an advisor that has done this before and knows the rules.