All Forum Posts by: Account Closed

Jon, from what I've read the definition of "active business" is kinda gray...does it depend on how many and how often you are flipping those lease options? and do you know of anyone where the IRS has actually assessed the UBIT on someone flipping options? thanks

thanks Mike. you have a SDIRA with them?

If I use a self-directed IRA LLC with checkbook control to fund the lease option consideration, can I then deposit the profit from flipping the lease option into the SDIRA tax free?

4 am here...and working all night. I cruise BP during down time...;-)

don't know if they're "better" or not Bryan, but this website sure is informational. hadn't even heard about the self-directed IRA LLC's where YOU have checkbook control...:-)
http://www.irafinancialgroup.com/

just found this excellent site for information about the i401K's, and something I've not heard about yet: self-directed IRA LLC's that give you "checkbook control"! check me if I'm wrong, but if you use either of these in the Roth version I think your RE investing profits can be totally tax free...:-)
http://www.irafinancialgroup.com/

not that I've found anywhere yet Anson.

Anybody doing deals using only a laptop, internet connection, and a cell phone?
My question is spurred by exposure on the net to a guy named Joe McCall and wholesaling lease options...

Jim