All Forum Posts by: Ilya Skolnikoff

Hello Carl. Wow, this is a lot of information. I did not know that if a self-directed IRA owned a property that any funds needed to make repairs needed to come out of the IRA as well. I also did not know that the property could be only partially owned by the IRA --- but I suppose that makes sense. I think that in terms of getting a bank loan, the bank will only approve a loan if the self-directed IRA is NOT responsible for making part of the purchase of a new property. I could be wrong about this but I was under the impression that this is how it works. Thanks for all of the information Carl.

To Carl Fischer, I am not sure what you have heard or what type of Self-Directed IRA you are referring to but most self-directed IRAs need to pay for the property in full if we are talking about real estate. To the best of my knowledge, you cannot combine the money in a self-directed IRA with other money in order to cover the purchase of the real estate. Of course, once you have purchased the property you can get money from wherever you want to fix up the property. What exactly were you referring to Carl Fischer?