Like the case studies. Basically though the IRA has to have enough to invest in this land and have enough for monthly possible expenses and taxes and you can’t use your own monies when things arise?
You’re right! When investing in land through an IRA, it’s crucial to ensure the account has sufficient funds not only for the purchase but also to cover ongoing expenses like taxes and maintenance. Additionally, you can't use personal funds to pay for these expenses; all costs must come from the IRA. Proper planning and budgeting are essential to avoid potential issues!
Thank you for the suggestion! We love hearing what our audience wants to see next. In the meantime, have you checked out this video? th-cam.com/video/b1sZf2vpPrU/w-d-xo.html
Thank you for the question. Yes, you can partner with family members in an LLC while holding a self-directed IRA, but be sure to follow IRS regulations to avoid prohibited transactions.
We prefer to allow our case study investors to remain anonymous with respect to that level of detail; however, as a general rule, the account could serve as the manager, or appoint a 3rd party manager. There are rules and guidelines that must be followed.
@@equitytrustcompany Well, what I meant is, can the individual who owns the SDIRA be the manager of the IRA LLC? I didn't necessarily need to know the details in Adam's case specifically. I was under the impression that you can't be the manager of your IRA LLC, based on what I was told several months ago.
We see, thank you for replying. Yes, the IRA account owner can be the manager of the IRA owned LLC, providing the purpose of the LLC is for real estate investing. You should be aware of the IRC 4975 and other applicable prohibited transaction rules when serving as the manager of your IRA owned LLC, just as if investing directly from the IRA. Thank you for reaching out and let us know if you have any follow up items.
@@rwj-kthxbye You're welcome, if you need any further assistance, feel free to drop another comment or consider scheduling a free consultation with one of our IRA Counselors here: eqtytrst.co/consultation
Love the case studies! How often does the rental income that flows through the LLC have to then flow back to Adam's IRA account, e.g., annually? Asking because there are ongoing maintenance needs, taxes, etc. that need to be paid on the rental property, and from what I understand there can only be a one-time injection of funds from the IRA to the LLC.
Great question! There is no specific timing requirement on funds returned; however, funds will eventually need to be returned to the IRA for the account owner to take distributions, invest in other assets potentially, or in the event of the LLC dissolving, all funds return to IRA.
Thank you for the feedback, we always strive to provide as much details as possible and there is always a balance of allowing investor to remain anonymous for privacy purposes.
We're glad to hear that! Case studies offer valuable insights and real-world examples. If you missed any, be sure to check out this playlist here: th-cam.com/video/27YCSEdoFZU/w-d-xo.htmlsi=4Tz5cO3bjYs3tULG
I would like to hear the advantages of warming an LLC rather than a personal property trust
Thank you for the suggestion! We appreciate the feedback.
Like the case studies. Basically though the IRA has to have enough to invest in this land and have enough for monthly possible expenses and taxes and you can’t use your own monies when things arise?
You’re right! When investing in land through an IRA, it’s crucial to ensure the account has sufficient funds not only for the purchase but also to cover ongoing expenses like taxes and maintenance. Additionally, you can't use personal funds to pay for these expenses; all costs must come from the IRA. Proper planning and budgeting are essential to avoid potential issues!
How about taxes on UBTI, please? And than taxes again, when you take distribution. Double taxation! How avoid UBTI taxes?
Thank you for the suggestion! We love hearing what our audience wants to see next. In the meantime, have you checked out this video? th-cam.com/video/b1sZf2vpPrU/w-d-xo.html
Agreed. Please advise on avoiding UBIT taxes on a rental, esp. Short-term Rentals
@@aprilmills8580 Thank you for the suggestion, we will kind in mind for future videos!
can I be part of the LLC with family members if I have a selfdirect irs with equity trrust?
Thank you for the question. Yes, you can partner with family members in an LLC while holding a self-directed IRA, but be sure to follow IRS regulations to avoid prohibited transactions.
Who’s the manager of Adam’s IRA LLC?
We prefer to allow our case study investors to remain anonymous with respect to that level of detail; however, as a general rule, the account could serve as the manager, or appoint a 3rd party manager. There are rules and guidelines that must be followed.
@@equitytrustcompany Well, what I meant is, can the individual who owns the SDIRA be the manager of the IRA LLC? I didn't necessarily need to know the details in Adam's case specifically. I was under the impression that you can't be the manager of your IRA LLC, based on what I was told several months ago.
We see, thank you for replying. Yes, the IRA account owner can be the manager of the IRA owned LLC, providing the purpose of the LLC is for real estate investing. You should be aware of the IRC 4975 and other applicable prohibited transaction rules when serving as the manager of your IRA owned LLC, just as if investing directly from the IRA. Thank you for reaching out and let us know if you have any follow up items.
@@equitytrustcompany Thank you for your reply.
@@rwj-kthxbye You're welcome, if you need any further assistance, feel free to drop another comment or consider scheduling a free consultation with one of our IRA Counselors here: eqtytrst.co/consultation
Love the case studies!
How often does the rental income that flows through the LLC have to then flow back to Adam's IRA account, e.g., annually? Asking because there are ongoing maintenance needs, taxes, etc. that need to be paid on the rental property, and from what I understand there can only be a one-time injection of funds from the IRA to the LLC.
Great question! There is no specific timing requirement on funds returned; however, funds will eventually need to be returned to the IRA for the account owner to take distributions, invest in other assets potentially, or in the event of the LLC dissolving, all funds return to IRA.
Title is a bit misleading - show me the numbers.
Thank you for the feedback, we always strive to provide as much details as possible and there is always a balance of allowing investor to remain anonymous for privacy purposes.
Love the case studies...
We're glad to hear that! Case studies offer valuable insights and real-world examples. If you missed any, be sure to check out this playlist here: th-cam.com/video/27YCSEdoFZU/w-d-xo.htmlsi=4Tz5cO3bjYs3tULG
This is great!
Thank you for the support! Have you started implementing any strategies to maximize your returns in real estate investing?