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SDIRA partner or lend money
I am looking at a property with a group of friends that invest. I wanted to invest money into this from my SDIRA.
We are set up as an LLC and I am one of the members ( I can change that as we did not purchase it yet).
Should I loan money to the group, partner with them or can I do both. It is a good deal on a 3 unit apartment. Buy and hold we negotiated price to 355k. Rents are $3450 total per month. We can raise rents to $3750 very quickly. Tenants pay water, gas, electric, trash, snow removal and lawn cutting. The only things we pay are taxes, insurance and maintenance. Building is in very good condition and needs no work.
The property appraised for 390k.
Seller lived in one unit but that has already been rented.
The seller moved out of town and want to sell ASAP
Was not sure the best way to structure this deal.
Please let me know your thoughts.