I have a self directed IRA where I have two rental properties. I have been letting the money build up from the rents my manager collects and I am thinking of investing that money within the IRA. With carefully selected REITs.
I fully control the funds in the IRA myself.
However, I am unsure of exactly how I would purchase the shares so they the money and the shares stayed inside of the IRA. Would I have to set up a brokerage account in the name of the IRA or can I use a brokerage account under my name.
I am 63 and can withdraw without penalty but it will be several years before I will actually need any of the funds.
Any advice so that I can stay within both the letter and the spirit of the law would be appreciated. I just want to do better than the 0.Nothing% that the bank pays in interest. The 5% the more reliable REITs pay looks pretty good.