Can someone lend money to my self directed IRA?

[Thomas B.]

Short story, Im trying to close on this sucker here(ML#:11669241). They just dropped the price from 160,000 to 138,000. I happen to have 137,000 in my self directed IRA. I keep trying to get them down to 133,000....so I have a tiny bit of money left in the account for fire insurance but they wont go any lower.

Can someone lend my IRA 5 grand and if so how is that done? My account is with Entrust Self directed IRA. What paperwork or whatnot is needed?

Help!

Tom

[Mike Knowles]

Is this a Roth IRA?

If not, you'll be subject to UDFI (Unrelated Debt Financed Income)and pay taxes on a portion of your income. There are some good posts on here about the implications of that.