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Updated over 5 years ago on . Most recent reply

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Sid Shankar
  • Rental Property Investor
  • Chicago, IL
3
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26
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401k to self directed IRA for rental investment

Sid Shankar
  • Rental Property Investor
  • Chicago, IL
Posted

I want to move 401k to self directed IRA for rental property investment down payments. My 401k administrator doesnt allow that. Are there any banks/financial institutions which will allow that? Looking for advise here

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Taylor L.
  • Rental Property Investor
  • RVA
4,678
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Taylor L.
  • Rental Property Investor
  • RVA
Replied

Agreed with @Steve Kontos, it's very difficult to maintain the retirement account as needed on your first deal.

If you do move forward, search for self directed IRA custodians and Checkbook IRAs. There are a lot of rules around what you can and can't do with these, make sure you take time to learn the rules!

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