Ways to purchase - need advice

[Robyn Gersh]

I aim to utilize my retirement funds to purchase a 6-acre property, which can be subdivided, for the purpose of constructing three new houses. The property currently has one existing house. It's a fixer upper. To ensure I have sufficient funds for construction, I have been advised to obtain a non-recourse loan, as the majority of my IRA, which has been invested in real estate over the past couple of years, will be used to acquire the property. Is there another way to do this besides getting a non-recourse loan?

[Jaycee Greene]

Quote from @Robyn Gersh:

I aim to utilize my retirement funds to purchase a 6-acre property, which can be subdivided, for the purpose of constructing three new houses. The property currently has one existing house. It's a fixer upper. To ensure I have sufficient funds for construction, I have been advised to obtain a non-recourse loan, as the majority of my IRA, which has been invested in real estate over the past couple of years, will be used to acquire the property. Is there another way to do this besides getting a non-recourse loan?

Hey @Robyn Gersh! While I'm not an expert in this area, I have worked on a few loan deals that involved a Self-Directed IRA. Based on the rules related to the IRA, I believe the non-recourse nature of the loan is a requirement. Have you contacted any lenders that do SDIRA loans for real estate?