Guest ROBERT E Posted October 27, 1999 Posted October 27, 1999 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?
Guest Gregory Posted October 30, 1999 Posted October 30, 1999 Are you looking for a passive custodian or one that'll handle property management, taxes, insurance and the like?
Guest ROBERT E Posted October 31, 1999 Posted October 31, 1999 AM LOOKING FOR A PASSIVE CUSTODIAN SUCH AS A BANK OR TRUST COMPANY THAT WOULD PASS IRS APPROVAL.
Bruce Steiner Posted November 1, 1999 Posted November 1, 1999 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. ------------------ Bruce Steiner, attorney (212) 986-6000 (NY office) (201) 862-1080 (NJ office) also admitted in FL Bruce Steiner, attorney (212) 986-6000 also admitted in NJ and FL
IRC401 Posted November 2, 1999 Posted November 2, 1999 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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