Solo plan to invest rollover in Real Estate

[Jim Chad]

Here are the things I see that I need to watch.

Most of the real estate investors seem to have an LLC taxed as a sole Prop.

1. UBTI

2. Self dealing

3. Arms length transactions

4. Recurring contributions- Should I use a Money Purchase Plan?

Is there anything else I need to watch out for?

Is there a requirement that the owner of the business sponsoring the Plan, have income of some sort?

[Bill Presson]

Someone will have to be custodian and pay taxes, etc. Probably should use a company like this:

http://www.theentrustgroup.com/self-directed-ira-benefits

[Jim Chad]

Can he be his own trustee and do all of this?

[Lou S.]

Run, don't walk.

[My 2 cents]

Also, depending on age, may have to worry about being able to pay minimum required distributions if liquidity becomes an issue.

[Bill Presson]

Can he be his own trustee and do all of this?

I think he can be trustee, but (without looking it up) I thought the real estate had to have an independent custodian. Might be wrong.

[Laurence Oman]

Estate planning is very important to save once future...

[QDROphile]

For the once and future king?

[Belgarath]

Just call him Wart. Because it rhymes with Art. Gosh, it must have been around 35 years ago when I read that book - forgotten all about it. Maybe I'll have to re-read it!