If I buy a fixup rental to hold within a self-directed IRA, is there any way I can access any of the cashflow to live on?
I currently have $140,000 in a traditional IRA, great credit, but only $10,000 in cash. I want to get started buying cheap rentals or flip property. My goal is to replace $100,000 income with rental cash flow, but not run out of cash to keep growing and utilize a smart tax strategy.
Answers | 1
A self-directed IRA has the same rules as a traditional IRA. If you are a licensed real estate agent or are you eligible for a management fee? You can view all the regs here:
Feel free to follow up with us directly for more information. We love the self-directed IRAs.
It's not what you make; It's what you keep that determines your lifestyle.