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Updated almost 7 years ago,

User Stats

101
Posts
19
Votes
Jahan Habib
Pro Member
  • Rental Property Investor
  • Somerville, MA
19
Votes |
101
Posts

Self Directed IRA + FHA/HUD Multifamily Financing

Jahan Habib
Pro Member
  • Rental Property Investor
  • Somerville, MA
Posted

I am looking for some advice from SD IRA and HUD/FHA Multifamily financing experts here. I am interested in a 8 unit multi-family (7 residential + 1 commercial units) in Rhode Island. I would like to set up an SD IRA to fund the down payment for the FHA Multifamily financing program. I understand that I the IRA through an LLC would be the owner of the property and would be responsible for all expenses.

Is there someone who has been through this process? If so, I have some questions

1. I know that the LLC formation can be really quick. How long would it take to set up an SDIRA?

2. FHA/HUD loans are non-recourse, however is it possible to have my IRA controlled LLC receive financing? Besides the down payment, what are the other fees related to financing?

Would love to hear your thoughts.

  • Jahan Habib
  • Loading replies...