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Anyone have experience with checkbook IRA?
Posted on 8/10/22 at 4:20 pm
Posted on 8/10/22 at 4:20 pm
Buddy of mine is looking to use for alt investments like RE. Anybody have any experience. Link below.
LINK
LINK
3
Posted on 8/10/22 at 4:31 pm to Mootsman
No experience, but running an LLC inside of your IRA requires different rules than most realize.
Posted on 8/10/22 at 4:38 pm to slackster
Right a custodian has to be set up, cannot use investments for personal use, etc.
Posted on 8/10/22 at 6:45 pm to Mootsman
Fat Bastard is a good source of knowledge on the topic. Search for his name if he doesn’t chime in here.
Posted on 8/10/22 at 7:33 pm to Mootsman
CHECKBOOK SOLO401k here
RE? ummmmm yes.
IRA financial group is the group who made my QRP for my corporation.
They are great. tell your pal to get with them. They will set him up based on what he needs. once you get plan and EIN from IRA fiancial you setup a bank account in the name of the plan for a solo401k( for you will be name of LLC if in a SDIRA). bring them main documents from the plan. get your checks and get with it. my plan name is XXXXX solo401k trust. IRA should be similar but in name of LLC for investments whereas my investments are in the name of my solo401k plan/trust.
RE? ummmmm yes.
IRA financial group is the group who made my QRP for my corporation.
They are great. tell your pal to get with them. They will set him up based on what he needs. once you get plan and EIN from IRA fiancial you setup a bank account in the name of the plan for a solo401k( for you will be name of LLC if in a SDIRA). bring them main documents from the plan. get your checks and get with it. my plan name is XXXXX solo401k trust. IRA should be similar but in name of LLC for investments whereas my investments are in the name of my solo401k plan/trust.
This post was edited on 8/10/22 at 10:26 pm
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