All Forum Posts by: Clarence Bell

Hi,

I wanted to find out if anyone has done a property purchase using combined money from their self-directed IRA and funds outside their retirement as the down payment. I'm looking at combining both since commercial properties require a 25% down payment, but I know there are tax implications with how the business is set up so a portion of the profits goes back into the retirement account. I'm also planning to talk with a tax CPA and lawyer but wanted to hear from people who've done it already.

Thanks in advance!

Awesome story! One thing I have seen too for looking for potential lenders was looking at the list of approved lenders in the Maryland Mortgage Program on maryland.gov's website.  A lot of the banks listed are local to Maryland and have more flexibility than the national banks.  Also on some local auction sites for the DMV, they have a list of lenders who have approved lending for properties that require significant work.

Congrats @Kevin Chen @Michael Gellar I'm looking in the same area and expect to close on 2-3 properties by the end of the year if everything pans out. My strategy currently has been to scour the MLS for deals and I've probably seen just about every multifamily unit available in my desired areas. I'll plan to move in one of the properties which should get me an FHA loan while the others will likely be 20-25% down but can do more on the rehab side with those. Wish all of us luck!