IAM LOOKING TO INVEST IN 20-30 UNITS, CAN I USE MY IRA PART OF THE INVESTMENT?

HOW MUCH MONEY NEEDED DOWN FOR 20-30 UNITS INVESTMWENTS IN PROPERTY?
In Buying Property - Asked by MAJED M. - Jul 3, 2009
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Answer(s)

MAJED M.
Tenant
Hegewisch, IL

CAN I BUY WITH IRA INVESTMENT AS A COLLATERAL?

Jul 3, 2009
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David B.
Owner/Investor
Santa Rosa, CA

yes

Jul 3, 2009
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Paul S.
Broker/Agent
Glendora, CA

Yes you can but there are very specific rules which you have to play by. There are some tax differences and restrictions as well. If you call me I will give you a phone and web site that can explain all the ins and outs of what you have to do. Paul Sylvester 800 554-7362 ext. 208

Jul 3, 2009
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Bev L.
Broker/Agent
Fort Myers, FL

Yes, you may also use your IRA Funds to purchase real estate, in doing so you will need a Qualified Intermediary (QI). My Clients have been very satisfied with a local firm here in Lee County (the Company deals Nationwide). There are a variety of selections I can present to you in the Southwest Florida area, Lee, Collier & Charlotte Counties. Listings and transactions change daily here. If you are interested please cal or email me. 239-281-1290... Bev1314@aol.com

Jul 3, 2009
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Jerry Z.
Broker/Agent
San Francisco, CA

Yes. The only thing that you need metion is where you will invest to?
I guess you are not only look up the rent.

Jul 3, 2009
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Kirk D.
Broker/Agent
Tampa, FL

You must have a self directed IRA, of which you are the custodian, in order to use in real estate investing. In addition, you can use this IRA for the following purchases, subject to some IRS regs.:
•Real Estate
•Hard money lending
•Precious Metals (Gold, Silver, Platinum)
•Private placements or offerings (oil & gas, real estate, etc)
•Foreign Real Estate
•Funding a business
•Trust deeds
It is suggested that you work professionals who have experience in dealing with self directed IRA custodians in establishing the proper entities necessary for a purchase to take place.
To answer your question, the amount of down payment needed depends upon the type of purchase, the amount and your credit history.

Jul 4, 2009
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Brian L.
Owner/Investor
Minneapolis, MN

I used my IRA to purchase an apartment building. If you would like to know how it was done contact Brian at 612-750-7907.

Jul 4, 2009
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John D.
Broker/Agent
Naperville, IL

Majed,
I have a CPA who can answer that question as well as any others. He is here in Illinois
Don 630-769-1040. I have a 23 unit in Addison which may be a good fit for you. Let me know if you want further info. Good Luck
joh dockum

Jul 7, 2009
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Juan V.
Broker/Agent
East Chicago, IN

Yes - as long as you do not live or occupy any of these.
The best way to structure is to setup LLC and have your IRA buy into the LLC.
Ive been a licensed Investment Advisor for 13 yrs and have done these on various occasions.
Now as a Broker, It's easier. My site actually has good info on subject matter. Don't take this as a solicitation - just free information.

Jul 10, 2009
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