Does anyone have advice or experience with a Rollover IRA that can be used to purchase real estate?
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Filed under: Retirement Planning
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I like Suze Oremon, but I highly doubt she covers the topic of self-directed real estate IRAs.
I have no association with this company, but they do have a good FAQ section on their webpage: http://www.trustetc.com/real-estate-ira/real-estate-ira-faq.html
FYI – if you buy real estate using your IRA you cannot use those monies for the down payment and obtain residential financing for the remainder. When you buy using an IRA you are setting up a trust account, and the trust holds the assets, and as such residential lenders don’t lend to trusts. Title to the property would read – "ABC Trust Company Custodian FBO John Smith IRA", and not simply John Smith.
go to suzeorman.com or google her and ask her the question.. Her show is on Sat and Sun nights about 4am Eastern Time.
Has alot of financial tips.