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All Forum Posts by: Michael Campbell

Michael Campbell has started 4 posts and replied 21 times.

Post: Can I Setup SDIRA Post Investment Purchase?

Michael CampbellPosted
  • SFR Investor
  • Valencia, CA
  • Posts 22
  • Votes 0

Hey guys, new fellow on board.

I partner with my brother on rental properties, a gig we just started a year or so ago.. anyway for our last purchase I ran out of free cash and had to dip into my 401k rollover IRA - to the tune of $15k. Not a great idea, but the equity we walked into was worth it. Anyway, I know I have 2 months to either pay it back or get hit with taxes; but can I instead setup a SDIRA after the close? I'm sure it will complicate how my brother and I split this thing, but it may save me a few thou.

Thoughts?