Help getting started as a private lender
Hello everyone!
I am looking to get started lending out of my IRA. I looked into note buying, and while I really liked the idea, it seemed like having good access to notes was key and I don't have that.
Right now I'm attending the local REIA in order to network and meet other investors. I'm also working selecting a self-directed IRA custodian. I know I will need excellent legal and tax advisers, and I have people for that. I'm a little cloudy on the next steps though. Part of my confusion lies in the terminology in this field. Private money lender, broker, loan servicer, hard money lender, etc. I don't completely understand the roles and responsibilities of each party to this type of transaction.
Can anyone help me fully grok the next steps I should be taking? If there's any educational material I should check out, let me know! Thanks BP!!!