SDIRA and checkbook LLC

[David Thomas Wells]

My brother and law and I are going to use a combination of both of our IRA's to begin our real estate journey via a SDIRA in buying a house. One company does not want us to form and LLC, while most other companies seem to prefer setting up an LLC. I feel that I am getting deeper in a rabbit hole and want to set it up the right way the first time.

He will own 60% and I will own 40% and we will need a non-recourse loan to do so.

Any advice is greatly appreciated.

David

[Dmitriy Fomichenko]

@David Thomas Wells,

Just buying a rental with a partner can be challenging, but the fact that you wish to use your IRAs to buy this rental will add an additional layer of complexity. It can work either way, but using Checkbook IRA will give you more control and simplify the operation.