All Forum Posts by: Anja Brey

Hi,

I recently dissolved a note in my self-directed IRA that was in default and took a significant loss.

The amount I received is not really enough to get another note or do anything with it in the self-directed IRA. Due to the quarterly fees on the self-directed IRA, I would like to close the account.

A law suit was initiated regarding the defaulting note (and other notes that were in the same situation) and further down the road, there might be some money coming my way from that.

My question is:

Does the money from the law suit need to go into the current self-directed IRA where the note was - I therefore can't close the account until the law suit is settled - or could I ask for any law suit funds to go into for example a Vanguard IRA in my name?

Any other alternatives?

Thank you for any guidance.

Anja

@Brian Eastman

That's what I thought.

Good idea, I will try that.

Thank you!

Anja

Hello,

I have a defaulting promissory note in my self-directed IRA. I am about to short sale the property for a large loss. Ideally, I would close out the self-directed IRA and move the money back to an IRA brokerage account as it is not enough to do much with it and to avoid paying the annual fees on the account, but a law suit was filed and there might or might not be any money coming my way in the future regarding this loss.

My question is, do I need to leave the self-directed IRA open until the potential money from the law suit comes in, or could I move the law suit money into an IRA brokerage account as well?

My tax advisor didn't know the answer to this question nor did the Self-directed IRA company.

Any input? I would guess that I would need to keep the self-directed IRA open until the law suit is settled as the money is related to the defaulting promissory note.

Thank you for any input!

Anja

Hi,

I am wondering what other people do with the extra cash in their Self-directed IRA's that is not enough to do a promissory note or buy a house?

I have between $10-15k to invest and I don't know what to invest it in within the Self-directed IRA?

Thanks for any ideas!

Anja

Hi, I recently heard about the company "Upside Avenue", a private, non-traded REIT.

Has anyone invested with them before?

Any feedback?

Thank you,

Anja

@Brian Eastman. Thank you for your comment. What do you mean by Equity partner and how would this work?

So I could have a private loan in my SDIRA? What paperwork would I need for that between the SDIRA and the lender?

I have a defaulting promissory note in my SDIRA. It seems like the house could be a decent rental, but the property needs rehab and I have no funds in the SDIRA to pay for the rehab to get it rental ready.

I do have an outside IRA, but the funds in there might not be enough.

I have a 457 plan through my current employer, but that does not allow me to transfer funds to the IRA.

My employer also does not allow me to contribute to an outside plan.

Do you know of any other options on how I could get funds into my SDIRA to rehab the property?

Someone said I could get a non recourse loan for the SDIRA. Does anyone have experience with this or could recommend a lender?

Thank you.

Anja

Thanks, all!

Thank you @Manolo D. and @Nicole Allen. 

Manolo, the fines would only be if the remodel he did is not up to code. 

Hi all, 

We are thinking of buying a 2 story victorian at the edge of a flood zone. The house will require us to get flood insurance as the owners. We want to rent out the ground studio unit to tenants and were wondering whether we should disclose the flood area zoning to the tenants and require them to have flood insurance, which might make it hard to find tenants as it increases their living costs. 
Any input and thoughts are appreciated. 

Thanks, 

Anja