7: Chris Tanner - How To Buy Real Estate With Your Self-Directed IRA

The Real Estate Lab

Full Show Notes

[00:01:53]

Chris Tanner's company website: www.ndtco.com

Chris's email: [e-mail]

LinkedIn: https://www.linkedin.com/in/christanner1/

Join our free facebook community at www.EastWestVentures.co/AIMS

[00:04:14]

Hard assets are physical real estate, raw land, single family homes, apartment buildings, precious metals, etc.

[00:06:11]

Key distiction between a truly self-directed IRA plan and a limited selft-directed plan is the ability to hold hard assets.

[00:09:08]

Fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. Usually, a fiduciary takes care of money or assets for someone else.

[00:10:45]

The IRA has a different EIN number of itself.

[00:13:02]

For IRA accounts, there has to be either a bank or a trust company acting as custodian.

[00:13:24]

For 401K accounts, there is no need for a custodian.

[00:13:51]

You only need a SSN to open an IRA account. A 401K or solo 401K requires a business entity.

[00:27:40]

You can use debt to buy properties with a self-directed IRA account. You need to use non-recourse loans.

[00:28:34]

I meant to say distribution at the end of the sentence there.

[00:30:48]

UBIT Tax: Unrelated Business Income Tax

[00:31:30]

For a leveraged property, you might have to pay UBIT tax for income above $1,000. However, you can deduct your expenses like any other properties.

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