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Updated over 3 years ago on . Most recent reply

User Stats

18
Posts
4
Votes
Jonathan Choyce
  • Flipper/Rehabber
  • Hawthorne, CA
4
Votes |
18
Posts

Self-Direct IRAs, looking to Invest

Jonathan Choyce
  • Flipper/Rehabber
  • Hawthorne, CA
Posted

My interest is to do Real Estate Investing with the funds, I have been told I should move it into a Self-Directed Roth IRA I'm thinking about having both for the time being, I'm interested in buying apartments with a Partner, or evening doing a loan 🤔 with a down. Payment if I can afford the down payment with out a Partner. As confusing as that is I am looking to increase the profits going into the IRA. A dialog in this arena is hopeful in someone else's experience with this type of Account. Just looking at ideas as what I can do with it. YES I have done a lot of research into it but without experience in using it, makes me just procrastinate on doing anything. FYI I have lost my job, collecting Works comp for the past 2+ years I won't officially retire for 2 more years but have access to my retirement cash after 36 years of working. My attorney tells me my case won't settle until 2022 so I amookinh for ways as a REI to get some things moving. Hope this is not to confusing

Most Popular Reply

User Stats

18
Posts
4
Votes
Jonathan Choyce
  • Flipper/Rehabber
  • Hawthorne, CA
4
Votes |
18
Posts
Jonathan Choyce
  • Flipper/Rehabber
  • Hawthorne, CA
Replied

Got it, Can I transfer a SDIRA into a Roth Solo 401K. if not how can I do this from any of the IRA accounts.

I like Roth IRAs, and researched a lot on the Roth 401K and Solo 401K, I am aware of the IRS rules when it comes to my Self-Directed IRA, which I intended to use to do Real Estate Investing. but I am more interested in keep most if not all of the profits I earn and not pay Capital gains and other kinds of taxes.

I have not retired yet, but lost my Job and I am at the end soon of settling my Workers Comp Lawsuit and than retiring in another 2.5 years. 

I need something that will work for me and not against me if you know what I mean?

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