Following are 3 Little Known Secrets about your IRA that may change the way you look at your IRA from here on out.
Little Known Secret #1: Your IRA can borrow money for rentals. This can include such items as Single Family Residences, Townhomes, Condos, Duplexes, Triplexes and Quads. It also could be Mountain homes, beach condos, etc. You get the idea. There are a few restrictions so give me a call and we can discuss those.
Little Known Secret #2: When your IRA borrows money to purchase these rentals, the loan is not dependent on your credit score, how much you make or even how much debt you may have. It is simply based on the ability of the property to generate the cash flow to pay the loan.
Little Known Secret #3: The loans your IRA borrows to purchase rentals NEVER show up on your credit report! They don’t increase or affect your debt ratio. They do not factor into any other non-IRA loans you may get. So how may IRA loans (called non-recourse loans) can you have? As many as your IRA can afford.
Where do you get these Non-recourse IRA loans? I can help you with that. I went to many banks locally and found that most didn’t know what they were and naturally did not offer them. The closest one I found was in the Midwest. I wanted someone locally. So I recently hooked up with a local Mortgage Company, Christiansen Financial who is offering these loans. I am their exclusive rep for their Non-Recourse loans.
Want to learn more? I sure hope so. Give me a call or send me an email and let’s talk. Why not really control your IRA and leverage the money in your IRA with a Non-Recourse loan? You do it with your non-IRA money all the time.