All Forum Posts by: Jackie P.

My IRA LLC has a name. I opened a business checking account with Regions. Eventually I had problems with Regions getting wires out on a timely basis. I switched the account to Chase. I did not mention that it was an IRA LLC at either bank. I had to present my documents for setting up the LLC and also my EIN number. I have had absolutely no issues.

Why would you want to do subject to vs straight owner financing? What is the interest rate on the current mortgage? Who is the lender? What is the purchase price? Are you going to rent it out or resell it? 

Is it in a park? Are you planning to move it?

One year ago, I exchanged a rental duplex and for 4 rental mobile homes. One of the homes has been vacant for much of that year due to poor property management that was recently fired. I would like to sell it as a rent to own handyman special. If I do that and title doesn't transfer for at least another year, does this meet the 2 year rule? If I sell it outright for cash, does it invalidate the entire 1031 exchange or do I just pay tax on the 25%? 

@Brian Eastman

@John Mocker 

@Dmitriy Fomichencko

The problem is my custodian won't advise because I have an LLC.

My IRA LLC is the lender on a property (MH and land) in TX and has been for several years. Over the last year or so the borrower has been violating her deed of trust by not responding to the insurance renewals and not providing insurance information to the escrow company. She is current on her payments and has tons of money in the escrow account. I am getting ready to force place insurance.

The insurance broker says insurance companies are looking for any reason to not write insurance. They indicate that if they put my name (I am the signer for the LLC) and her name on the policy and put my LLC as the mortgagee, there are more companies that they can draw from. In my mind, this is like putting the utilities in my name for properties that my LLC takes back.

Does this violate any SDIRA rules as I don't want to forfeit my IRA?

I'm getting conflicting information. My IRA holds a lien on a doublewide in a park in Austin, TX. My IRA previously repossessed the home. The current buyer is significantly behind in the payments on the lien and is now behind on the lot rent with the park. Park has filed for eviction of the home from the lot. I need to either file eviction or judicial foreclosure. TDHCA says it's just a repossession. In the past, I had one in Bell county and the attorney said it had to be a judicial foreclosure. Can anyone share their past experiences in TEXAS?

@Rachel H.

@James Ramos

Dmitriy answered the titling question. Yes, you can have non-recourse bank financing with your IRA but you need to understand UBIT and UDIT, two taxes that your IRA may be responsible for. I have never done financing inside my IRA, so cannot expand on that topic. There are plenty of experts here though.

@Jaden Lowe

I am not satisfied with Madison Trust. Their review process is lengthy and there is lots of back and forth. Also, their fees for what you get are not worth it. I have an IRA LLC, but I am investing with partners who do not and it is really frustrating.