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Updated over 4 years ago, 08/02/2020
Self Directed IRA exchange?
Here is my issue: I have money in my IRA, but I want to be able to invest and utilize the cash flow generated now. I believe if I self direct my IRA to invest in real estate all the profits have to go back into the IRA.
My thought is this: I have an IRA and I have a friend that has an IRA. Can we both make them self directed and loan each other money to be able to invest in real estate? They would be separate, but identical contracts that work independent of each other.
Is this legal and if so has anyone done something similar?
Or does anyone have any other solutions to what I’m looking to do?