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All Forum Posts by: Grace Huang

Grace Huang has started 1 posts and replied 1 times.

Post: Buying commercial truck using self-directed IRA

Grace HuangPosted
  • South Pasadena, CA
  • Posts 1
  • Votes 0

I have an opportunity to buy a commercial truck using my retirement account and then lease it out to an operator. I already have several people lined up who wish to lease it from me. I have general understanding of prohibited transaction rules and that I can not receive any personal benefits from investments of my IRA. I know that I can buy a rental property inside my 401k and rent it out. I want to get an opinion on my potential investment of a commercial vehicle. Do you see any issues with this, are there anything I need to be aware of, any potential pitfalls that I need to lookout for?