Self Directed IRA Info. Needed....

Hi,

You are referring to a "60 day rollover" which is when you take your retirement funds outside of the qualified retirement status (taxable event). If you open a self-directed IRA, your funds stay in a special type of retirement account that allows you to buy real estate (non-taxable) just like you would buy shares of IBM stock. You buy the real estate just as you would any security, and hold it until you recognize a gain or loss that causes you to sell. Hope this helps! Gregg

Sounds to me like you have a Brokerage SD-IRA (Scwabb/Merill Lynch/etc) which does not allow RE investing as these broker/dealers want you to buy their products ie:stocks/bonds/mutual funds. You need to set up an RE IRA with a third party custodian that provides true self directed investing in RE/tax liens certificates/shares of LLCs etc. I use American Pension Services as this is their specialty. There are a few others available also but be aware of costs as they vary and these type of acccounts can be in the hundreds of dollars per year in fees vs the $50-75 for a brokerage account. Also need to be well educated on the rules and regulations for RE IRA as not to taint the tax laws and turn your account into a taxable event. Something else to consider as you make the change you should also convert to a ROTH IRA if they are not. Your acct would be TAX-FREE vs tax-deferred. A huge benefit.

a regular SDIRA will not require you to put the money back in 60 days. there are several good companies out there that handle SDIRA's and they can answer your questions. i'm most familiar with Equity Trust in Ohio and they are very well-known. many "gurus" use them and several people in my REI club do as well. my contact there is Sarah Laeng and she can be reached at 888-382-4727 x317. no, i don't get anything for recommending you to them, but i trust them and know that my investor friends have had good results with them. they can help you roll over your retirement funds into an account and advise you. so can any of the other "real" SDIRA companies. hope this helps.