All Forum Posts by: Christopher Salerno

Hi, all. I'm a new investor and want to begin lending hard money. I'm really considering rolling over my IRA into a Self Directed IRA in order to work with a trusted partner who wants to build and flip homes in the area. I would be loaning up to 75% LTV on each project and of course have first position on the loans. I also know that he has the money to repay me.

But I'm not sure what to look out for in rolling my money from a traditional IRA into a Self Directed, and also what I should consider with finding a Self Directed IRA Custodian. COULD I set up a TD Account, etc and BE MY OWN CUSTODIAN, and just use an Accountant to prepare the materials I would need to transact and comply with the IRS, etc? Or am I LEGALLY required to have an "official" custodian for the Self Directed IRA? One who is not just a bank?

Thanks, all. 

Chris

Hi, I'm a professor who would like to start putting my IRA to work by investing in Notes or Rental Properties, or both. I've read books and forums and websites and am still a little bit hesitant to take the plunge, because of how hard it (seems to be) to find deals without a team. And I'm not sure, yet, about investing out of state. I'm hoping to get more confidence soon and start the ball rolling. Would love to find a local group in NJ to meet up with.