For example, with rental income, the tenant would make the rent check payable to your real estate IRA and send it directly to Advanta IRA for processing and depositing in the account.
When expenses for the property are incurred, you would contact Advanta IRA and instruct us to cut a check from your IRA account for a particular invoice. Please note that under no circumstances should you personally pay for an expense related to your IRA-owned property and Advanta IRA will not issue any reimbursement checks to you from your IRA.
Because all expenses related to your real estate IRA must be paid from the account, it is critical the account has adequate funds to cover any expenses that may arise after the initial purchase of the investment. Examples of such expenses include maintenance repairs, escrow funds, property insurance, etc.