Re: Dumb to put rentals in Roth IRA? - Posted by Dan
Posted by Dan on March 12, 2002 at 05:51:37:
Ron,
I set my own LLC up with no questions asked, My brother in law is managing partner. Different last name. by using a LLC, the llc can collect the rent and pay all the bills and handel any managment issues. Also the money from your if can be placed in the llc by purching mebership interests and you can use that money to buy houses. all profits go back to the LLc and the LLC profits get credited to the ira interest. But paid to the LLC when you chose. IE retire. as far as asset protection I place a mortgage on each property I hold as rental for about 130% of it’s value If i ever have any prblems I will just foreclose them off.
Dan