Here’s Self Directing your IRA to get Checkbook Control:
You first open up a Self Directed Roth IRA at a reputable Self Directed Custodian. We like Vantage IRA, LLC ( www.vantageiras.com ) We have worked with this company for years. It was formally Entrust Arizona ,LLC.
Once you have your account set up, you can transfer the dollar amount of your choosing to your IRA at Vantage, or what ever custodian you choose. Remember you can move your 401K into a Traditional Self Directed IRA. You generally move like to like. Roth to Self Directed Roth, and Traditional to Self Directed Traditional.
The Self Directed portion of the account only means that you are directing your investments and you are responsible for the investment choices you make. You are also responsible to abide by the rules associated with self directing your IRA.
SELF DIRECTED ROTH IRA ACCOUNT invests in an LLC
The LLC sets up your IRA as the Members of the LLC. Please be sure to set this up property so you do not risk a full distribution. Vantage IRA, ( an IRA Custodian ) LLC has excellent education classes on how to set up your LLC in your IRA and direct the funds .
The LLC then invests can then get checkbook privileges on the LLC account.
This control gives greater control over the real estate transactions within your IRA.
You should remember that all funds that leave the LLC/ IRA account are investing into the LLC investments and should not be used personally.
THE SELF DIRECTED ROTH IRA ACCOUNT invests in LLC
The LLC can then purchase Real Estate on behalf of the IRA.
The LLC can flip properties, wholesale properties, or have rental properties held in the LLC.