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Updated about 8 years ago on . Most recent reply

User Stats

155
Posts
62
Votes
Bernie Huckestein
  • Rental Property Investor
  • Apopka, FL
62
Votes |
155
Posts

Advice to secure property while setting up SDIRA

Bernie Huckestein
  • Rental Property Investor
  • Apopka, FL
Posted

I have an opportunity to purchase a Single Family Residence which aligns with some solid investment return.  I can purchase myself directly securing financing via my local bank; however, I'd rather purchase inside a SDIRA the problem is I do not have this set up yet and want to secure the purchase.  Is there a way I can execute a Purchase and Sale personally perhaps putting a small amount of earnest money but then close under my SDIRA as soon as I am able to get it set up or would that make is a disqualified transaction?

What if executed an option to purchase myself an then assigned that option to my SDIRA?

The purchase is from a private individual and not via MLS if that makes a difference.

I am sure I can set a closing for 30 days out but I need to lock it up before the FSBO sign goes up...I will lose the deal.

The deal should produce two outcomes 1) a rehabbed SFR that I can either flip or rent + although currently it is 1 deed there is a separate adjacent lot included which I would want to carve out and sell/build.

Appreciate any ideas on how to secure this outside a SDIRA but then close inside it.

Thanks, Bernie

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