Self-directed IRA's and RE Investing - Posted by John Katitus

Posted by Hugh Bromma on April 15, 1999 at 11:49:52:

In response to the aspect about being a partner with your plan or account, the partner aspect is only that you may purchase an undivided interest in the same property with funds outside your IRA or Keogh with a simultaneous close. Any other form results in self dealing. Please visit our site at www.entrustadmin.com for more information or call us at 800 392-9653. We also have a 315 page book out which gives you all the details of what you can do and how you can do it, with 11 real deals, including mobiles, and how the “partner” aspect works. The book is called “Real Estate Investments in Your Self Directed Retirment Plan: A Guide”. It includes all qualified retirement plans and
IRAs.

Self-directed IRA’s and RE Investing - Posted by John Katitus

Posted by John Katitus on April 15, 1999 at 01:08:25:

On the one hand, I have 401k money left over from my job days languishing in a straight interest account. On the other, I have an investor that wants to fund my MH purchase costs with notes at 18% interest. I need to keep replenishing my buying money.

Would it be possible to roll the 401k into a self-directed IRA and buy the notes from my corporation? How would I do this? I checked self-directed IRA’s on the internet, but all the companies want to direct the investments. Thank you.

Re: Self-directed IRA’s and RE Investing - Posted by William L. Exeter

Posted by William L. Exeter on April 16, 1999 at 17:54:21:

These posts are all correct. We administer self-directed IRA’s, Roth IRA’s, SEP-IRA’s and SIMPLE IRA’s. Visit our website at: http://www.securitytrust.com.

Bill Exeter
Security Trust Company

Re: Self-directed IRA’s and RE Investing - Posted by Hugh Bromma

Posted by Hugh Bromma on April 15, 1999 at 11:43:40:

For truly self directed IRAs, where you make the decisions visit our website at www.entrustadmin.com. Also there are articles on this and our site regarding self directed plans. You can also call us at 800 392 9653.

Re: Self-directed IRA’s and RE Investing - Posted by John(NH)

Posted by John(NH) on April 15, 1999 at 09:52:11:

Your IRA cannot buy from your corp - it must be an ‘arms length’ transaction. You can have the IRA buy the MH, create a note, then sell the note to your investor.

Re: Self-directed IRA’s and RE Investing - Posted by Rick (MD)

Posted by Rick (MD) on April 15, 1999 at 07:34:11:

You might look into Mid-Ohio Securities Corp. @ www.mid-ohio-securities.com. They claim to offer self-directed IRAs’. But please check them out first. I have not yet had the time to do this! I would be interested in your results, good or bad.

Re: Self-directed IRA’s and RE Investing - Posted by William L. Exeter

Posted by William L. Exeter on April 16, 1999 at 17:57:03:

Excellent advice on checking the IRA custodian’s financial strength and bonding. Please ask to see the IRA Custodian’s financial statements, fidelity bond coverage, errors & omissions insurance coverage and as them who they are regulated by. You certainly don’t want to take any chances with your IRA funds.

Re: Self-directed IRA’s and RE Investing - Posted by David Alexander

Posted by David Alexander on April 15, 1999 at 10:16:03:

Mid-Ohio has worked for me, for a self-directed IRA. You wouldn’t be able to buy the notes from your corp. through your IRA, Not arms length as said earlier. You could have the Seller of the home actually sell the MH on a note and then buy the Note for whatever Cash price you were going to pay minus the down payment. Your corp or you, I believe can also partner with your IRA. Another thought is to set up a Corporate Pension Plan.

David Alexander