Posted by David Alexander on January 08, 1999 at 09:53:30:
But, you could have a LP set up by someone else
that you loan funds to. The loan could be a particpatory loan making part of the profits of the transaction. I’m not sure of the exact details, have
never done this, only heard about it.
David Alexander
Question - Using IRA for project when I own corp. - Posted by CHris Spohr
Posted by CHris Spohr on January 07, 1999 at 17:34:56:
Here’s one for the experts.
I have a self-directed IRA that allows direct Real Estate investment and I know the rules about “disqualified persons” but not about lending to corporations.
If I and my wife are the principal share holders of a “C” corp., can we lend the funds to the corp and let the corp. be the project manager?
Thank you in advance,
Chris Spohr
PS Hi J.P. and Terry, it’s been a while since I have posted.
Self-Dealing/Prohibited Transaction - Posted by William L. Exeter
Posted by William L. Exeter on January 08, 1999 at 08:45:38:
Your own self-directed IRA can not lend funds to, or invest in, a corporate entity (or any entity) that you own and control. This would still be considered self-dealing and therefore a prohibited transaction.
Bill Exeter
Security Trust Company