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Updated about 6 years ago on . Most recent reply

User Stats

40
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17
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Douglas Rice
  • Rental Property Investor
  • Frisco, TX
17
Votes |
40
Posts

Self directed IRA question

Douglas Rice
  • Rental Property Investor
  • Frisco, TX
Posted

My business partner and I have an LLC that we use to acquire buy and hold RE and do some flips. We are equal partners.

He has a ton of cash in his IRA. If he converts this to a self directed IRA can he fund out deals with the IRA or is that a disallowed circumstance. I know there are restrictions.

Please advise on how this would or could work.

Most Popular Reply

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1,145
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Mark Sewell
  • Investor
  • Houston, TX
871
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1,145
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Mark Sewell
  • Investor
  • Houston, TX
Replied

I think I got the answer from your website, Dmitry.  Good stuff here:

https://www.sensefinancial.com/solo401k/solo-401k-prohibited-transactions/

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