Comments on: Getting Around Prohibited Transactions http://www.jeffnabers.com/2009/08/31/getting-around-prohibited-transactions/ The No-B.S. Guide to Building Real Wealth in Your Self-Directed IRA or Solo 401k Sat, 17 Dec 2011 03:25:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ron Harris http://www.jeffnabers.com/2009/08/31/getting-around-prohibited-transactions/comment-page-1/#comment-35066 Ron Harris Tue, 26 Apr 2011 21:45:35 +0000 http://jeffnabers.com/?p=1050#comment-35066 Hi Jeff, My Wife and I acquired a second home 4 years ago and now need to do extensive rework to it for it to become move in ready for my ailing mother-in-law. We have no way to finance it other than creating an llc and moving my IRA into a (solo) IRA and borrowing from it as a loan to make this happen. Does this sound plausible as well as legal? I must be missing something as this sounds to simple. Thank you and great blog! Ron Hi Jeff,
My Wife and I acquired a second home 4 years ago and now need
to do extensive rework to it for it to become move in ready for my ailing mother-in-law. We have no way to finance it other than creating an llc and moving my IRA into a (solo) IRA and borrowing from it as a loan to make this happen. Does this sound plausible as well as legal?
I must be missing something as this sounds to simple.
Thank you and great blog!
Ron

]]> By: PS http://www.jeffnabers.com/2009/08/31/getting-around-prohibited-transactions/comment-page-1/#comment-17956 PS Mon, 09 Aug 2010 22:00:23 +0000 http://jeffnabers.com/?p=1050#comment-17956 Jeff, Great blog. I understand leverage can be utilized by self-directed IRAs so long as the leverage is only secured by the specific IRA investment (e.g., real estate) and is non-recourse to the IRA owner/beneficiary. Can you confirm this? Does this only apply to real estate investment or can other types of investments be leveraged so long as they follow the rules above. Also, I assume the IRA investment is permitted to service the leverage/loan utilizing income the investment produces or ultimately by the sale of the investment. Thanks. PS Jeff,

Great blog.

I understand leverage can be utilized by self-directed IRAs so long as the leverage is only secured by the specific IRA investment (e.g., real estate) and is non-recourse to the IRA owner/beneficiary. Can you confirm this? Does this only apply to real estate investment or can other types of investments be leveraged so long as they follow the rules above. Also, I assume the IRA investment is permitted to service the leverage/loan utilizing income the investment produces or ultimately by the sale of the investment.

Thanks.
PS

]]> By: admin http://www.jeffnabers.com/2009/08/31/getting-around-prohibited-transactions/comment-page-1/#comment-1287 admin Thu, 07 Jan 2010 20:41:43 +0000 http://jeffnabers.com/?p=1050#comment-1287 Ali & Tim, I recommend you contact my office at 877-903-2220 for further assistance. Jeff Ali & Tim,

I recommend you contact my office at 877-903-2220 for further assistance.

Jeff

]]> By: Tim http://www.jeffnabers.com/2009/08/31/getting-around-prohibited-transactions/comment-page-1/#comment-1286 Tim Fri, 25 Dec 2009 01:08:28 +0000 http://jeffnabers.com/?p=1050#comment-1286 Jeff-I want to buy a house and rehab it. I would like to hire out the major stuff but can I do any work-repairs to the property before I resell it? I would not pay myself, I just want to hands on managing this property Jeff-I want to buy a house and rehab it. I would like to hire out the major stuff but can I do any work-repairs to the property before I resell it? I would not pay myself, I just want to hands on managing this property

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