Can I Manage an IRA LLC Owned Property?

Yes you can manage a self directed IRA LLC owned property. You want to be sure the LLC articles of organization allow for this and the IRA has proper ownership of the LLC. As manager you can vet prospective tenants, determine the rent etc. You can also determine who will effect repairs to the property. You can decide which property warranty company to use etc. However because your are the owner of the IRA there are certain things you can’t do while you manage the property. You cannot hire yourself to do repairs – even if you do it for free. That would be a prohibited transaction because you are a disqualified person to your IRA. You cannot hire other disqualified persons either. In most cases, you, your spouse, lineal descendants are disqualified persons. This is not intended to be all inclusive – there are other criteria which may cause a person to be deemed disqualified.

Self Directed IRA LLC’s allow for a great deal of latitude and freedom – hence the term self directed. The IRS rules and regulations are not difficult to follow but you want to be sure you are aware of them and if you are not sure – you need to be able to call someone knowledgeable.There are some other areas which you might want to learn about relating to this question.

You can visit sdretirementplans.com or call 866 639 0066 to discuss how to manage the property.