Posted by blucat on February 07, 2010 at 13:51:15:
In Reply to: Losing job, 401k rollover options posted by Bruce Reeves on February 07, 2010 at 12:37:57:
Good idea IF you can buy right...as in somewhere where RE is really depressed in mkt value but rents are needed and workable.
From what I hear there are rentable houses for sale around the country for as little as $7500 so look around good before buying.
And as long as you don't pay yourself for handyman or fixer services IRA rules would not prohibit your doing repairs, cleanup, painting, etc...and your new SDIRA could buy lumber, paint, etc.
Or better yet, have your new SDIRA buy all the units in a new LLC it starts, then you can be the pres & treasurer of that LLC and you'd write the checks for your LLC to buy the materials and pretty much leave the SDIRA custodian (Entrust, etc.)out of the daily loop.