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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (261558)	7/16/2010 4:15:18 PM
From: neolib	Read Replies (1) \| Respond to of 306849

Yes, you can buy land, but there would be restrictions on how you use it. You can use it for income production for your IRA, but not for your own use. So you could buy a farm and run it as a farm with all expenses and income restricted to the IRA. Google "checkbook IRA". The problem is you still need a custodian, and the fees are not well advertised. Its a rather niche field currently. Can one buy farmland with an IRA? Not a REIT, the actual land?I'm serious.

To: patron_anejo_por_favor who wrote (261558)	7/16/2010 4:26:15 PM
From: MulhollandDrive	Respond to of 306849

that's a very interesting idea

To: patron_anejo_por_favor who wrote (261558)	7/16/2010 5:29:10 PM
From: Lazarus	Read Replies (1) \| Respond to of 306849

As neolib states - the answer is YES...' and THERE'S MORE: I have purchased and resold a house in my IRA I own First Trust Deeds in my IRA and the payments from the borrowers go DIRECTLY into my IRA - tax deferred (not a Roth IRA) I bought 5 pieces of land in the Desert north of Mohave and paid around 10k for all of them --- purchased in my IRA. I later sold 1 of them for $15k and I am still holding the others. I purchased another desert property for $3k in my IRA and sold it for $20k and all the profit goes tax-deferred back into my IRA. I even own an internet domain name being held in my IRA (hopefully to be resold at a higher price) I purchased a little over 4 acres which has power, well, septic, and building pad -- in my IRA. This year - given the crappy state of the economy I decided to withdraw it from my IRA so I can use it if need be as a little farm. I have to pay a hefty chunk of tax on it (inc the 10% early withdrawal penalty) but I'm thinking its worth it.