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Updated over 8 years ago on . Most recent reply

User Stats

178
Posts
57
Votes
Dan Costantino
  • Rental Property Investor
  • Pittsburgh, PA
57
Votes |
178
Posts

Managing draws with Self Directed IRA (Equity Trust)

Dan Costantino
  • Rental Property Investor
  • Pittsburgh, PA
Posted

I am lending money out of my IRA. I have done this before, but I lent the money to a business partner in one lump sum and he released the draws in agreed upon sums. We would partner up on those transactions.

I am now lending on my own. I want to lend out of my IRA (Equity Trust) and release the funds according to the draw schedule.

I would think I can wire the whole amount to the settlement company and have them hold back money in escrow, correct?

Is there a better way?  Should I just wire in separate transactions?  (costs go up)

I will call Equity Trust in the morning.  Just trying to get answers quicker.  

Any insight is greatly appreciated.

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