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Updated over 8 years ago,
Managing draws with Self Directed IRA (Equity Trust)
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.