I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self Directed IRA LLC get a loan and use my IRA money as the down payment?
Yes you can use your IRA money as the down payment and then have your Self Directed IRA LLC get a loan for the balance. However, you will not be able to personally guarantee the loan. It must be a non-recourse type of loan, which means that if your IRA fails to make payments, the only recourse the lender has is against the property itself.
Related Questions
- I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self Directed IRA LLC with Checkbook Control get a loan and use my IRA money as the down payment?
- I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self Directed Retirement Plans LLC get a loan and use my IRA money as the down payment?
- I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self Directed IRA LLC get a loan and use my IRA money as the down payment?
