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Updated over 12 years ago on . Most recent reply

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3
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C M.
  • Silver Spring, MD
0
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3
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Making loans in SDIRA/IRA LLC

C M.
  • Silver Spring, MD
Posted

So my long term girlfried (we live together, have two properties together) and I are looking at using her IRA $ to purchase control of another property.
We are thinking of moving the money to either a SDIRA or an IRA LLC. The IRA or LLC then creates a loan to my LLC for the purchase. My LLC is in my name only.
The house would then be rented.
Would this be prohibited?
I am reading and reading, trying to make sure we aren't way off.
I know if her IRA owns the house outright she can't do any sweat equity, etc.
If her IRA/LLC owns only the note, can she be involved in the management of the rental at all (off paper) or would it be best that she never even walk in the house?
Thougts?

Thanks in Advance

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