self directed IRA

[Nicole Tuffarelli]

hello friends, I have an old traditional IRA from my first job that is sitting in a local bank since early 2000s. it has about 40k

I now have a W2 salaried job for 20yrs where I've participated in a employer run 401k i think with John Hancock. Id love to roll the old IRA into real estate. Any suggestions on how to get the old 40k IRA available to use as a down payment into real estate?

Ive been reading about SEP IRS self directed IRA and 401 k but seems to be for self employed people. any idea how to re-allocate my ira into real estate investments???

my accountant doesn't seem to think its possible

[Brett Synicky]

Quote from @Nicole Tuffarelli:

hello friends, I have an old traditional IRA from my first job that is sitting in a local bank since early 2000s. it has about 40k

I now have a W2 salaried job for 20yrs where I've participated in a employer run 401k i think with John Hancock. Id love to roll the old IRA into real estate. Any suggestions on how to get the old 40k IRA available to use as a down payment into real estate?

Ive been reading about SEP IRS self directed IRA and 401 k but seems to be for self employed people. any idea how to re-allocate my ira into real estate investments???

my accountant doesn't seem to think its possible

You can certainly move this money into a self directed ira. No self employment required.  All Ira’s are custodial but there are plans that have a checkbook control feature allowing you to essentially bypass the custodian and save time and fees.  

That isn’t a lot of money to buy real estate with, but it might be enough to do some private lending with and grow the principal that way.  If you did want to see what getting a loan looks like to have the ira buy real estate then you can talk with these lenders. https://www.biggerpockets.com/member-blogs/2810/50272-list-o...