Updated over 11 years ago on . Most recent reply
#5 Mobile Home Park Investing Contributor
- Rental Property Investor
- Clarkston, GA
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Non-recourse lenders for props held in IRA?
#5 Mobile Home Park Investing Contributor
- Rental Property Investor
- Clarkston, GA
Hi folks, It's been a while since I last checked around for lenders who do non-recourse lending on properties held in one's IRA. We have a few properties that would appraise at $100k or a bit more in top school districts in GA, Gwinnett county to be exact. Solid B areas.
When I last looked the lenders had minimums that where too high to allow any borrowing on our $100k properties and costs where high as well. High pts and interest rates. Today I'm wondering if other lending solutions exist at lower pts, lower interest rates and longer term than 5 yrs?
We also have 1 property that is not in an IRA that we'd like to put a cash out refi not on. I don't qualify for any more mortgages so I'm looking for other solutions for this property too.