SDIRA's and Non Recourse Loans Fact or Fiction?
I have heard several offers regarding non recourse loans to IRA's for real estate. Has anyone ever done this before? Would you please walk us through the process if so?
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Marc FaulknerI have 3 apartments I have purchased via SDIRA and all have nonrecourse loans around 5.5% 5-10 yr with 20-25yr amort. 2 were through a mortgage broker who found an insurance co. willing to do the loans and one through a local bank who wanted to do the business. They are no more complicated than a recourse loan, except when the insurance co. is involved, but the paper work is not onerous and the broker helped. The insurance co. though was expensive with fees/legal costs. I find the leverage well worth it.