Question for John Hyre - Posted by Micheal Wong

Posted by Micheal Wong on July 24, 2003 at 10:39:26:

Any idea how I would go about finding case law and/or past IRS rulings on this type of issue? I can’t seem to find anything, and would love to have at least something to base my future investment decisions on. Thanks in advance for pointing me in the right direction, if you can. =)

Question for John Hyre - Posted by Micheal Wong

Posted by Micheal Wong on July 23, 2003 at 23:54:06:

What are your thoughts on doing rehabs/flips in a self-directed retirement account? Do you know what actions would classify the IRA as a dealer and thus every flip is subject to UBIT? i.e. doing 2 flips a year is OK, but 5 or more is not, etc. Or is not that cut and dry? Any tips in this regard? I’m looking to grow my self-directed retirement funds as quickly as possible, and while I can earn a nice and safe 15-25% a year buying notes, etc. I keep thinking there has to be a lot more out there. If I could do rehabs and flips I could earn a much higher yield in the long run. Any other suggestions on how to grow an IRA fast ?

Re: Question for John Hyre - Posted by JHyre in Ohio

Posted by JHyre in Ohio on July 24, 2003 at 05:43:12:

It’s not at all cut & dried. Given the harsh penalty involved for becoming a business within IRA, I’d keep it down to two good flips a year…but that’s just my guess.

John Hyre