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Updated over 9 years ago, 06/09/2015

User Stats

18
Posts
3
Votes
Jason Smith
  • Homeowner
  • Trumbull, CT
3
Votes |
18
Posts

Using self directed IRA

Jason Smith
  • Homeowner
  • Trumbull, CT
Posted
Hello everyone, hope this is the right ace to ask. I recently changed jobs and have a nice pool of cash in my old 401k that I am going to transfer to a self directed IRA. My new job's 401k I will likely keep traditional, and this other one I would like to buy properties with. My main questions, if I use my self directed IRA to buy properties, can you take a mortgage on anything you buy initially, or does one need to be bought with cash, then leverage of that for future purposes? Any other advice on using the IRA for purchases would be great! I don't plan on touching this money for withdrawal purposes for a very long time, save maybe college tuition for the little ones, if I'm allowed too.

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