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Updated over 5 years ago, 08/09/2019
Using investor self directed IRA funds to future bank Refi option
Hi, newbie here. For a self-employed person with aggressive write off's, how can the use of private money from investor self directed IRA's work if my intention is not to sell or flip the property, but hold it as a rental? If getting regular bank financing is difficult to pay off the private investor, what are the options from here? Is there a certain holding period that the bank will start to look at the property and its merits to loan against? The carrying costs otherwise can make the deal less attractive.
So with that said, what type of track record do you need before banks will use the merits of the property to grant financing rather than my income? Is it a certain number of deals or years of experience with managing properties for this to happen?
Thank you. Your feedback is greatly appreciated.
Gregg