Have An IRA Or Pension Plan?
Making real estate loans is a widely accepted use for IRA’s and other Retirement Plans. However, most people do not know that you can make private mortgage loans using the funds which are already in your IRA’s and other retirement plans rather easily.
Think of the power of loaning out funds at high interest rates that are Tax free or Tax Deferred!
What You Need To Do First
If you have an IRA or retirement account that you want to begin using to earn better returns as a private lender, there are two things you should do:
- Fill out our Private Lender Questionnaire so we can provide you the information you’ll need to make a well informed decision.
- Ensure that you roll your IRA over into a “Self-Directed” IRA account.
In order for you to use retirement accounts for loans they must first be administered by a third party custodian. After selecting your custodian, you simply send a transfer form to them and they’ll do all of the work for you. Or, some custodians provide you with a checkbook from which you can write checks directly from your IRA account, without the sometimes lengthy custodial approval process that goes with so many other custodians. Once you’ve done that you are ready to make private mortgage loans.
A Simple Process
As you can see, the process of using your IRA to earn better returns as a private lender is much more simple than it seems. Roll your IRA over into a Self-Directed IRA using the custodian of your choice, and you’re good to go.