I have about $100k in a Self-Directed Real Estate IRA Trust. I can use this money for purchase costs, down payment and repairs from what the Trust people have told me.
I would like to purchase a Rehab, using about $60k for Down, $10k for escrow costs and $30k from the IRA for repairs. (I also have about $10k in Cash for emergency overage funds.)
The balance of the home I’m thinking of getting a Seller-carry loan or… if I had to, hard money loan. I’m hoping for a 2 month repair window with a 3-5 month window to get it sold (market is slow here in SoCa).
If I go for a Seller-Carry loan… what sort of interest should I offer? Has anyone with a Self-Directed RE-IRA done this before? Any comments or help much appreciated, thanks.