​Using an SDIRA to give a Mortgage

[Chuck Shadle]

My first post aside from Intro, so hope this is the right place and would welcome any insights.

I have an Entrust SDIRA that I funded from a roll over of some stock I had from a previous company I’d worked for and had basically ignored until recently.

I have a person in FL that I (Lancaster County, PA) want to give a small 30K first position mortgage to. I am fully compliant with IRS SDIRA rules.

Entrust requires:

1. 1. Entrust’s Buy Direction Letter Form
2. 2. Promissory Note
3. 3. Deed of Trust/Mortgage
4. 4. Lender’s Title Report

OK, I can do #1, no sweat.

However, can I get #2 and #3 off of a company like Legal Zoom or do I need to get a FL lawyer involved?

Do I order #4 from a title agency? Is this something the buyer’s realtor would already have or will order? Etc.

Finally, do I have to have the mortgage recorded with the county or is this something a title agency does?

Note: I won’t go into specifics but my only concern here is for getting this legally accomplished and Entrust funds distributed.

I know I’ve a lot to learn but this is how I’m trying to learn and would welcome any advice, links elsewhere, etc.

Thanks,

Chuck