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Updated over 4 years ago,
Partner's Self-Directed IRA for Downpayment on Hard Money Loan
Hey all,
Just got a foreclosure property offer accepted. My numbers check out for a BRRR but I do have some questions on my downpayment for the Hard Money Loan (HML). I have a partner whose self directed IRA we want to use towards the HML downpayment just not sure how to go about that. Would I be able to apply for the HML under my name and then just use his self directed IRA? How does that need to be structured?
I know there are several restrictions around the self directed IRA so that definitely comes first. Any thoughts and guidance would be much appreciated!