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Purchase of a Home with an IRA?

I had a client ask me about purchasing a 2nd home with his self-directed IRA.  He's not borrowing from the IRA, the IRA will hold Title.

Anyone have experience with this?
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September 06 2013 - US
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Answers (2)

Hi Ray- 

  Your definition of '2nd home"???

  If defined as an investment property, to be leased and rents/profits paid back to the IRA, yes, can be done- I have helped a few investors this way. Usually all cash deals..no mortgage.

 However, there are several factors that could disqualify a purchase of real estate using an IRA, including personal use of the property, purchasing a property for the IRA from yourself, guaranteeing a loan on a IRA owned property, and lots more. There is also a list of disqualified persons, including spouse, parents, children, who can not benefit (say by leasing said property)...

 Best to get the expert advice before going any further.
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September 06 2013
Yes. Email me and I can send you info.
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September 06 2013
 
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