Posted by jl wirk on August 06, 2003 at 24:58:09:
Jim, You can find more info at oarlock.com
IRA has most but not all to purchase property - Posted by Jim Neubauer
Posted by Jim Neubauer on August 04, 2003 at 19:43:03:
How does one purchase a $140k property using their self directed IRA which has $100k in it. How can this be structured? I have not found anything in the archives which helps.
Jim N
Re: IRA has most but not all to purchase property - Posted by tom
Posted by tom on August 12, 2003 at 16:47:01:
Jim,
I did a deal somewhat like yours. I created a land trust to take title, and became partners with my ira for the balance. your ira can also purchase debt serviced property, though you will have a hard time finding a banking lender. if you have history of success, private money is readily available. I offered my PI 10% on my last deal with a prepayment penalty, but i got no fees.
best,
tom