ROBERT E
Oct 27 1999, 07:41 AM
CAN I CONVERT MY ROTH IRA INTO A SELF DIRECTED IRA TO INVEST IN A RENTAL APARTMENT BUILDING?
WHERE CAN I FIND AN APPROVED CUSTODIAN?
Gregory
Oct 30 1999, 03:13 PM
Are you looking for a passive custodian or one that'll handle property management, taxes, insurance and the like?
ROBERT E
Oct 31 1999, 03:22 PM
AM LOOKING FOR A PASSIVE CUSTODIAN SUCH AS A BANK OR TRUST COMPANY THAT WOULD PASS IRS APPROVAL.
Bruce Steiner
Oct 31 1999, 07:08 PM
There are a several IRA custodians who will permit private investments in an IRA. The attorney who handles your estate planning should be able (after speaking with a few of them) to recommend the most appropriate one for the type of investment you want to make.
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Bruce Steiner, attorney
(212) 986-6000 (NY office)
(201) 862-1080 (NJ office)
also admitted in FL
IRC401
Nov 2 1999, 12:43 AM
I hope that you realize that you will need to pay all expenses out of the IRA. If you personally pay any of the expenses, it will be treated as a contribution to the IRA. Do your cash flow planning carefully. If the IRA needs to borrow money, it could owe UDFI tax (IRC sec 514).
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