Looking for a lender who can do Nonrecourse loans for my self directed IRA account

[Anand Ariyappan]

Hello Community!

I am looking for a good non recourse lender who can help refinance the properties I own on my self directed Solo IRA account. I understand from my account broker that these properties can't be refinanced through regular banks or financial institutions. The firms who can do non recourse loans are very few and only they can do such deals.

Appreciate if any of you been in this situation and recommend a bank/broker who can help me here. The property is in Texas, if that help. 

Thanks,

Andy

[Jaycee Greene]

Hey @Anand Ariyappan. There are banks that will do those loans. Call Gary Mobbs @ South Star Bank (he's in TX). 

I worked with him on a deal in TN that the property owner ultimately decided not to do (more of a legal issue on the owner's end).

[Chris Seveney]

Quote from @Anand Ariyappan:

Hello Community!

I am looking for a good non recourse lender who can help refinance the properties I own on my self directed Solo IRA account. I understand from my account broker that these properties can't be refinanced through regular banks or financial institutions. The firms who can do non recourse loans are very few and only they can do such deals.

Appreciate if any of you been in this situation and recommend a bank/broker who can help me here. The property is in Texas, if that help. 

Thanks,

Andy

Also recommend doing a quick google search for "SDIRA non recourse loans" and several lenders will appear as well. Depending on how much you are looking for and what the LTV is, you may also be able to get a private loan from another indvidual SDIRA who does private lending

[Nick Belsky]

@Anand Ariyappan

SDIRAs are extremely attractive ways to invest your funds and even more so being able to use those funds for RE.  What many fail to understand about non-recourse lending and SDIRAs is that the loan pool and options are even smaller than non-recourse options alone.  

I work with several lenders who will do bridge loans where SDIRA funds are being used and require no personal guarantee. Only three I know of will do a permanent loan such as a 30 year fixed or similar. Rates will NOT be the same as a normal conventional or DSCR loan. Leverage will NOT be as high as them either. Of these select lenders, most will cap you at 65-70LTV due to the risk factors you are bringing to them. So if you are thinking you can get a non-Recourse DSCR loan for 80LTV at 7% with no prepayment penalty, think again.

Cheers!

[Brett Synicky]

Quote from @Anand Ariyappan:

Hello Community!

I am looking for a good non recourse lender who can help refinance the properties I own on my self directed Solo IRA account. I understand from my account broker that these properties can't be refinanced through regular banks or financial institutions. The firms who can do non recourse loans are very few and only they can do such deals.

Appreciate if any of you been in this situation and recommend a bank/broker who can help me here. The property is in Texas, if that help. 

Thanks,

Andy

 Here's a compiled list on bigger pockets:   

Non-Recourse Lenders

[Kaaren Hall]

@Anand Ariyappan I have a list of non-recourse lenders to share.  Please email me at the address in my signature.  ~Kaaren Hall