Self Directed IRA

[Kishore P.]

Hello All:

Background: I have a Self Directed IRA that I plan to use to make my first Real Estate Investment Multi Family (both residential and commercial) with 20 % down payment coming from my IRA.

My wife is conservative and not excited about the prospect of me investing IRA in Real Estate.

Question: At Closing, does spouse need to co-sign off at closing in the State of Michigan?What are my options really, can I invest in Multifamily, if my spouse is not on board.

I know she will come around to it if I could demonstrate some success.

Thanks

Kishore

[Dmitriy Fomichenko]

@Kishore P.

I know that it's your IRA and you are free to invest how you wish, but what is more important to you:

But real estate in your IRA or keep your marriage together?

I think you can do both if you are little patient and convince your wife to be on-board with you. 

Also, when you buy a property inside of an IRA you cannot use conventional financing and must use non-recourse loan. Such loan require larger down-payment of about 40%, depending on the property. Be sure to investigate this further.