Well, Bubba, whats the down side, in your opinion?
From an IRA its rather simple to do, and the investment rules are pretty clear - you can't buy any property from which you stand to gain, you can't live in it or sell it to family etc...a management company has to manage it is the advice we've been given which would make it clear its an arm's length transacation. All expenses and remittances have to come from and go into the account from the very beginning of the investment. The IRS rules are very clear, and we're not going to cross them, we know a few people who use a self-directed IRA together with mortgage companies to offer sub-prime mortgage money at terrific returns, and others who work with remodeling companies on flipping property.
The information I have from the CFP is similar to the web information - google, IRA LLC real estate or in particular www.trustetc.com.
A 401K is more difficult to convert as has been pointed out. And I appreciate the experience post, thanks.
Anita
(This post was edited by NEOhio1 on Dec 6, 2005, 8:48 AM)
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