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North Carolina Real Estate Q&A Discussion Forum

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Suzanne Player
Pro Member
  • Real Estate Broker
  • New York City / Long Island, NY
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588
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Looking for Non Recourse Lenders in North Carolina

Suzanne Player
Pro Member
  • Real Estate Broker
  • New York City / Long Island, NY
Posted Jun 5 2020, 09:58

Hello

Does anyone know of any lenders that offer non-recourse loans of under $1 million in North Carolina? I'm looking to invest in a rental to buy & hold, but need to figure out how much I can borrow before setting the parameters for the property search.  It might be anything from a single family to a 5+ unit rental, but until I know how much money I have to use, it limits my search.

I'd like to invest within a self-direct IRA. The trustee tells me that if I use any borrowed money, it must be a non-recourse loan. Of course I started Googling, but all Google seems go give me is useless information.

Any info at all would be appreciated, please direct message me on Bigger Pockets if you can.

Thanks

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