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Updated over 12 years ago,
Buying / lease options in a SDIRA
I talked to ETC yesterday about getting an account and hope to be up and running soon. A question I had, which I'm seeking a solution to is the following:
I would like to be able to provide earnest money for a purchase or an option that would ultimately be acquired or held by my SDIRA. The challenge is how to I pay these funds and still be compliant and peachy with the IRA rules, etc. I got the impression that I could not have a check pre printed from TrustETC in hand when negotiating a deal. So, if I got a deal in my SDIRA, I would have to order a check from them, wait for it, and then provide it to the seller. I'd rather not do it this way.
Can someone offer me some ways to totally lock up the deal and get it into my SDIRA? I'm probably going to try and flip lease options or buy and hold with this account.
Thanks in advance!!!