Self Directed IRA Mortgage Lenders
I have all the pieces to setup self directed IRA's that will buy residential real estate but I need to find lenders to work with here in Colorado. If you know of any please contact me at **Please See My Profile** 
Does that works with 401K plans?
why do u need a special lender. i've never done a self directed ira deal, but as i understand it, the downpayment comes from ur IRA. that shouldn't affect who the lender is as all.
Would you please explain just how you are going to operate this vehicle.
Self Directed Individual Retirement Account.
You draw from the IRA the Down Payment whith which you buy a piece of property.
Do you then take title somehow in the name of the IRA or is it some sort of special identified entity, which of course would have no credit or indeed a true substantive identity.
Help I am lost, please explain and educate me.
Lucius
IRA's have Prohibited Transactions (primarily self-dealing schemes).
I can see how the IRA could provide equity money and take the exisiting mortgage-subject to-because an IRA cannot assume the liability for the loan..
If the IRA provides the down payment and takes back a second mortgage, that would work. The liability would be on the person signing the mortgage, not the IRA.
I have had two people tell me that they're doing this, but I wasn't interested in hearing the details. Real estate provides plenty of tax shelter outside of an IRA. I'd rather use the self -directed IRA to shelter other taxable assets for example discounted notes,tax liens, or tax certificates-in the non-traditional investment field..
Something that everyone should realize is that the intent of an IRA/401k is to provide for retirement-not to be used as a money source for "sweetheart" deals. It's your retirement invest it wisely.
My client has significant funds in an RA and a 401K plan that is now invested in mutual funds and stocks. He wants to invest these monies in real estate instead. I have a program where he can buy houses and then setup lease purchase greemetns with users who will buy his property after 2 years. What I am looking for is lenders who will let the IRA borrow 75% to 90% of the purchase price.
I have a self directed IRA set up with Equity Trust Company. They have been very helpful in guiding me in my creative endeavors. You might contact them. Just do a Google search for Equity Trust Company.
Good Luck!
I also have just started using Equity Trust for a self directed IRA. The big trick is that you may not have your personal name on any of the monies from the IRA and they must be invested through an entity that you do not have your name on.
The monies must be paid directly back to your IRA and never pass through your hands.
I am currently loaning money for two rehabs that will be paying me 15% interest. I have a second on the property and a promissary note all sent to Equity Trust.
You just try and beat that on the stock market!