Comments on: Resources http://www.jeffnabers.com 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: Stan http://www.jeffnabers.com/my-services/comment-page-2/#comment-39784 Stan Wed, 24 Aug 2011 08:25:19 +0000 http://nabersgroup.wordpress.com/?page_id=150#comment-39784 Jeff, is it true that once you fund the IRA LLC you cannot put any new funds into the LLC? Jeff,
is it true that once you fund the IRA LLC you cannot put any new funds into the LLC?

]]> By: Jim H http://www.jeffnabers.com/my-services/comment-page-2/#comment-39693 Jim H Sun, 21 Aug 2011 07:03:43 +0000 http://nabersgroup.wordpress.com/?page_id=150#comment-39693 Jeff, Great informative site here. I have a self directed IRA with Entrust Retirement Services in Houston, Tx. I have a business proposal from an experienced realtor here, we want to flip houses together. ***He will secure a loan for the initial purchase of a house. ***I will fund the rehab from my IRA to his LLC. ***We then sell the house. ***We will split the profits 50 / 50. I need to know what I need to do on my part to make this happen...form my own llc (in or out of the IRA), partnership with him, etc; Also, would it be possible to take a salary from his llc in any way shape or form (or from my profits) or would that be prohibited? My plan would be to take a 10% salary from my profits if possible. eg: my profit= $15,000 for a salary of $1,500 Jeff,

Great informative site here. I have a self directed IRA with Entrust Retirement Services in Houston, Tx. I have a business proposal from an experienced realtor here, we want to flip houses together.

***He will secure a loan for the initial purchase of a house.
***I will fund the rehab from my IRA to his LLC.
***We then sell the house.
***We will split the profits 50 / 50.

I need to know what I need to do on my part to make this happen…form my own llc (in or out of the IRA), partnership with him, etc; Also, would it be possible to take a salary from his llc in any way shape or form (or from my profits) or would that be prohibited? My plan would be to take a 10% salary from my profits if possible.
eg: my profit= $15,000 for a salary of $1,500

]]> By: Mark Bentley http://www.jeffnabers.com/my-services/comment-page-2/#comment-39430 Mark Bentley Thu, 11 Aug 2011 21:17:06 +0000 http://nabersgroup.wordpress.com/?page_id=150#comment-39430 Jeff, I own two rental properties (leased for 3 years) with small mortgages on each. Is there any process, that the IRS will allow, for me to pay off these mortgages with IRA funds? I plan to hold these properties long term. Mark Jeff,

I own two rental properties (leased for 3 years) with small mortgages on each. Is there any process, that the IRS will allow, for me to pay off these mortgages with IRA funds?

I plan to hold these properties long term.

Mark

]]> By: john c http://www.jeffnabers.com/my-services/comment-page-2/#comment-38191 john c Wed, 06 Jul 2011 18:18:23 +0000 http://nabersgroup.wordpress.com/?page_id=150#comment-38191 Hi Jeff, I own a building lot - formerly my primary residence and I want to transfer funds from my 401K to a self directed IRA to build a new home on the property that I own to sell upon completion or possibly rent. I plan to have the property appraised before I build and then have the land & property appraised again after construction is complete to identify my personal and IRA ownership shares and then gain/loss upon sale. Is it possible to substitute appraisals for absence of arms length transactions to avoid prohibited transaction, self dealing restrictions? I have no intentions (zero!) to use the new home personally after construction. IRA funds cannot ever be used to develop property that is or ever was owned by the principal? Just looking for an above board solution, don't want to try anything dodgy like a sham or back and forth transaction for the property. Thanks John Hi Jeff,
I own a building lot – formerly my primary residence and I want to transfer funds from my 401K to a self directed IRA to build a new home on the property that I own to sell upon completion or possibly rent.

I plan to have the property appraised before I build and then have the land & property appraised again after construction is complete to identify my personal and IRA ownership shares and then gain/loss upon sale.

Is it possible to substitute appraisals for absence of arms length transactions to avoid prohibited transaction, self dealing restrictions? I have no intentions (zero!) to use the new home personally after construction. IRA funds cannot ever be used to develop property that is or ever was owned by the principal? Just looking for an above board solution, don’t want to try anything dodgy like a sham or back and forth transaction for the property. Thanks John

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