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This episode of Investing in Real Estate is brought to you by Morty! Morty not only simplifies the mortgage process, but they help you find the best mortgage to fit your needs. Whether you’re a first-time homebuyer or real estate investor, head over to trymorty.com/investing to get started today!
We’ve discussed how to invest with a self-directed IRA multiple times here on the show. But there’s another creative way to use a self-directed IRA to purchase real estate that we haven’t yet covered: taking a loan from an IRA!
On today’s show, I’m joined once again by Scott Maurer, the director of business development at Advanta IRA. Scott is incredibly knowledgeable about self-directed IRAs, and on today’s show, he’s sharing how to borrow (or lend) from this investment type. We’ll discuss the flexibility of the plan, as well as the stipulations. Scott is sharing a few concrete examples, and we’ll talk about how to work with a self-directed administrator!
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Private lending can be a fantastic way to attain capital for a real estate deal without having to worry about your credit score or other obstacles of obtaining a traditional mortgage. A specific strategy within this realm is using a self-directed IRA as a private lender.
In this instance, the IRA itself would own the note or mortgage. This is a mutually beneficial strategy because the IRA owner can dictate the terms such as the interest rate. It’s a passive method for them to receive returns.
Additionally, the borrower forgoes the often tedious process of working with a bank on a traditional mortgage. There are very few regulations regarding how an individual can lend from his or her IRA. It is not legal to lend to yourself, your spouse, children or grandchildren, parents or grandparents.
Working with a self-directed administrator is crucial to this process running smoothly. At Advanta IRA, Scott and his team help individuals make sure their accounts are set up correctly, and ensure that the terms are in alignment with their needs. Advanta IRA can even deposit funds directly into an IRA for their clients.
On today’s show, Scott is sharing more information about how a self-directed IRA can act as a private money vehicle. We’ll discuss specific and common scenarios, as well as the flexibility that comes with this investment type. Scott has so much information to share; you won’t want to miss episode 239 of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with our team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- How long does it take to set up a self-directed IRA?
- How can you find a private money partner for investing from an IRA?
- What types of investments are not permissible within an IRA?
- Can you create an unsecured loan within an IRA?
- And much more about self-directed IRAs!
EP065: The Power of Self-Directed IRAs - Interview with Scott Maurer
EP101: What Is Checkbook Control of Your IRA? - Interview with Scott Maurer
EP034: The Power of Private Money - Interview with Susan Lassiter-Lyons
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Contact Scott Maurer
Call Advanta IRA at 1-800-425-0653 EXT 1123