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Suzanne Player
  • Attorney
  • New York City / Long Island, NY
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Looking for Non Recourse Lenders in North Carolina

Suzanne Player
  • Attorney
  • New York City / Long Island, NY
Posted

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

  • Suzanne Player
  • 516-503-7959
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    Dmitriy Fomichenko#1 New Member Introductions Contributor
    • Solo 401k Expert
    • Anaheim Hills, CA
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    Dmitriy Fomichenko#1 New Member Introductions Contributor
    • Solo 401k Expert
    • Anaheim Hills, CA
    Replied

    @Suzanne Player

    Over the years I assembled a list of lenders offering non-recourse loans for IRA/401k, here it is:

    https://www.biggerpockets.com/member-blogs/2810/50272-list-of-non-recourse-lenders-for-self-directged-ira-and-401k

    Hope this helps!

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