Self-Directed IRA -- Bill Bronchick, please help! - Posted by chill

Real Estate Investing Real Estate Financing
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Posted by jom on January 28, 2002 at 13:38:13:

>>>>Could this be done as well with the Mid-Ohio IRA
>>>.investing in an LLC that could then do the deals.
>>>Or can an IRA be a member of an LLC?

These both seem to me the same thing, aren’t they?

At any rate, I would like an answer to this question of chill’s. Can an IRA invest in a one-member LLC (thru a trustee like Mid-Ohio) and then use the LLC account to buy Trust Deeds or whatever.

Thanks

jom

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Self-Directed IRA – Bill Bronchick, please help! - Posted by chill

Posted by chill on January 28, 2002 at 10:48:38:

I read a message from someone who had set up a self-directed IRA that then invested in a property trust. He was the trustee with the IRA being the beneficiary. From the trust he did Lonnie deals, etc. and the profit all went to the IRA.

Could this be done as well with the Mid-Ohio IRA investing in an LLC that could then do the deals. Or can an IRA be a member of an LLC?

Thanks for your help.