Residential investor working on move to CRE

Residential investor working on move to CRE

Member since 2023 · 4 posts · 1 vote

Hi all, 

As stated, I'm transitioning from building my small residential portfolio to creating a commercial (multi-family) one. I'm using my self directed IRA so will need to work with non-recourse lenders. Getting started I will be looking for smaller (5-16 units) properties in tertiary markets. I look forward to connecting.

Thanks, 

Ed

1Reply
36 views

4 Replies

Jump to latestLatest
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y
    Quote from @Ed Fortenberry:

    Hi all, 

    As stated, I'm transitioning from building my small residential portfolio to creating a commercial (multi-family) one. I'm using my self directed IRA so will need to work with non-recourse lenders. Getting started I will be looking for smaller (5-16 units) properties in tertiary markets. I look forward to connecting.

    Thanks, 

    Ed

     Hey @Ed Fortenberry! I assume you've been using your SDIRA to build your residential portfolio? If so, haven't you been using a lender for those?

  • Member since 2023 · 4 posts · 1 vote
    1y

    Hi Jaycee,

    No, I bought the residential properties by refinancing my condo. I didn't understand how to use my IRA at the time.

  • Brett SynickyPro Member
    Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 877 posts · 501 votes
    1y
    Quote from @Ed Fortenberry:

    Hi all, 

    As stated, I'm transitioning from building my small residential portfolio to creating a commercial (multi-family) one. I'm using my self directed IRA so will need to work with non-recourse lenders. Getting started I will be looking for smaller (5-16 units) properties in tertiary markets. I look forward to connecting.

    Thanks, 

    Ed

    Welcome! Not sure if you need a list of non-recourse lenders to consider, but for you and anybody else reading this here is a list of several. https://www.biggerpockets.com/member-blogs/2810/50272-list-o...
    • Member since 2023 · 4 posts · 1 vote
      1y
      Thanks, Brett!  There were several on the list that I hadn't come across yet. 

      Quote from @Brett Synicky:
      Quote from @Ed Fortenberry:

      Hi all, 

      As stated, I'm transitioning from building my small residential portfolio to creating a commercial (multi-family) one. I'm using my self directed IRA so will need to work with non-recourse lenders. Getting started I will be looking for smaller (5-16 units) properties in tertiary markets. I look forward to connecting.

      Thanks, 

      Ed

      Welcome! Not sure if you need a list of non-recourse lenders to consider, but for you and anybody else reading this here is a list of several. https://www.biggerpockets.com/member-blogs/2810/50272-list-o...

Join the conversationCreate a free account to reply, vote on answers and follow this thread.