PartneringPartnering involves combining your IRA funds with funds from various sources, such as another IRA, someone else, or your personal funds to make the investment purchase. By partnering your IRA, you can potentially afford to purchase a property outright or make a more substantial investment.
A non-recourse loan is when the account owner is not personally liable. The loan is to the IRA and in the IRA's name, not the individual's. If there's a default or foreclosure, the lender can only seek repayment from the IRA property. The non-recourse lender can't go after personal assets owned by the account holder.
Step 1- Opening an Account
The process is as simple as completing a form online. You will need an ID and a credit card for payment.
Step 2- Determine Your Investment Strategy
Explore the different investment strategies available to maximize your savings.
Step 3- Fund Your Account
This is the process of adding retirement funds to your self-directed account. You can do this by transferring funds from another IRA, by moving an old 401(k) from a previous employer, or by making a contribution.
Step 4- Make the Investment
The purchasing process is very similar to a normal purchase, with the only difference being that the asset is owned by the IRA. As a result, both the offer and purchase contract are made in the IRA's name.
Example: IRAR Trust FBO John Doe Account Number 123456
IRAR works with title to fund your IRA's investment purchase.
Step 5- Manage the Investment
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