California Non-Recourse Hard Money Loans
By G. David Lapin On February 28 2024
Use Your Self-Directed IRA By leveraging Hard Money To Finance Your California Investment Properties And Rental Ventures
Unlock the potential of your self-directed IRA by leveraging hard money to finance your California investment properties and rental ventures. Hanover Mortgage Company offers non-recourse hard money loans. This presents an exceptional opportunity to expand your IRA portfolio without tying up all your funds in one avenue.
Non-Recourse Hard Money Lending: Protecting Your Assets
Non-recourse loans safeguard borrowers from personal liability regarding financing. These loans utilize the property itself as collateral. In the event of default, the lender's recourse is limited solely to the asset—the property—ensuring that other IRA assets remain untouched. IRA custodians mandate that leverage within an IRA must be non-recourse to ensure the protection of your retirement assets. Hanover Mortgage Company meticulously qualifies both the self-directed account and the borrower for these hard money loans.
Guidance for Self-Directed IRA Non-Recourse Loans
Consult your self-directed IRA custodian or administrator to understand the specifics of non-recourse loans within your IRA and their document requirements. Each custodian typically stipulates precise language for documents they sign on behalf of your IRA. Additionally, IRA firms may have specific guidelines, minimum holding requirements, and vesting guidelines to follow. It is crucial to engage with your financial advisor and/or CPA to grasp the tax implications of leveraging your IRA, including UBIT (Unrelated Business Taxable Income). Prioritize discussions with your advisors before making any investment decisions.
For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 ext. 102 or visit our:www.hanovermc.com