Re: Self-IRA - MHP, etc. - Posted by Tony-VA
Posted by Tony-VA on April 14, 2002 at 12:14:21:
A Self-Directed IRA setup with companies such as Entrust Admin or Mid Ohio, can buy and sell mobile homes as your post suggests.
From the scenario described, there is no hint of self dealing that I can see. It would come into play if you owned the mobile home that the IRA is purchasing. I gathered from your post that this would not be the case, but rather the IRA would purchase the home from some unrelated party and sell to some unrelated party.
Check the “How To Section” here for an article by Hugh Bromma that discusses self dealing and using IRA’s for these types of investments.
Also check for posts by Karl (OH) on how he ads a bit more protection and ease of use into these deals with the use of a Land Trust. It is my understanding that Ernest Tew has used a similar approach. You would do well to email Mr. Tew directly. This is his area of expertise.
ps. The type of investments, such as the car loans you mention, would likely be at the discretion of the company acting as the Trustee of your Self-Directed IRA.