tenant13
Full time employment: Posting here.
I'm about to use my self-directed IRA to purchase rental condo in Puerto Vallarta. I've done similar deals using it to buy land, storage facilities for rent and bitcoin. This is a cash transaction but the property is in Mexico so they operate in MXN. They can accept USD and convert it locally but it's not such a great rate and with a large amount it adds up. Has anyone done something similar? What banks or services have you used?
I do have an excellent bank in Europe that has a multi-currency account, perfect exchange rates and free inter-bank transfers - something like that would be ideal in US - BUT the Euro account is in my name and this is my IRA transacting - so anything that gets me personally involved would create a taxable event: a XXXk withdrawal from IRA.
I do have an excellent bank in Europe that has a multi-currency account, perfect exchange rates and free inter-bank transfers - something like that would be ideal in US - BUT the Euro account is in my name and this is my IRA transacting - so anything that gets me personally involved would create a taxable event: a XXXk withdrawal from IRA.