obtaining mortgage for self-directed IRA LLC

[Gary Parilis]

If you invest through a self-directed IRA, where to you get long-term credit?

I have a self-directed IRA with an LLC. I have plenty of deals and plenty of capital -- but cannot find adequate long-term financing. Borrowing under these circumstances requires a non-recourse loan, and the few lenders of this type of loan tend to be inflexible. They won't lend for a property with a purchase price less than about $200k and won't lend on properties older than 1940. They'll make some exceptions, but not significant exceptions. Also, the best LTV and lengths are generally 60% for 20 years, which is fine for me, but that's only under ideal circumstances.

Most properties I want to invest in are below $100k. How do others obtain mortgages for a LLC under a SDIRA?

Also, I am considering purchasing a portfolio with a dozen homes. This seems like I ought to be able to find a lender, but the problem is still that each home individually is too inexpensive.

Before you reply: (1) google non-recourse loans and SDIRA -- I don't need comments about regular commercial loans that aren't applicable and (2) yes, I already know about the tax consequences of financing under a SDIRA.

Thanks!