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Updated almost 7 years ago,
Can my Real Estate Brokerage manage properties held in my Roth
I am trying to figure out how my Florida Licensed Real Estate Brokerage can manage the rentals held within my IRA without being considered a disqualified person or an indirect benefit.
I am thinking if a unrelated employee in my office was compensated for the monthly management and receipt of the rent checks to my IRA but delivered to our office and then deposited into the IRA bank account it would not be considered self dealing or disqualified. It would then allow me to know if the tenant has paid or not and whether to initiate collection proceedings swiftly.
I am confident much of this is int he grey area and highly discouraged. I just remember many years back at a symposium that there was a way to get minimal payments out as long as the beneficiary did not directory benefit nor did the IRA get any service for free which then could disqualify the IRA. I also do not see any benefit in giving my IRA property to my competitor.
Thanks
Tommy