California NON RECOURSE HARD MONEY LOANS
NON-RECOURSE HARD MONEY LOANS
Your self-directed IRA account can now be leveraged with hard money to fund and refinance your California investment properties and rentals. The Norris Group offers non-recourse hard money loans in both our short-term rehabber program and long-term rental program. This is an incredible opportunity to diversify your IRA without committing all of your IRA funds to one place.
NON-RECOURSE HARD MONEY LENDER
Non-recourse loans are loans in which the beneficiary is not held personally liable for financing. These loans use the property as collateral. Should the loan default, the lender can only go after the asset (the property) and no other assets held in the IRA. IRA custodians and administrators require leverage held in an IRA to be non-recourse so your hard-earned retirement assets are protected. The Norris Group is qualifying the self-directed account as well as the borrower for these hard money loans. See our main hard money loan page for rates and programs.
TIPS FOR SELF-DIRECTED IRA NON-RECOURSE LOANS
Talk to your self-directed IRA custodian or administrator to find out more about non-recourse loans in your IRA and the requirements they have as each typically have very specific language they require in documents they will be signing on behalf of your IRA. In additional, IRA firms often have specific guidelines, minimum holding requirements, and vesting guidelines they want you to follow. It’s also extremely important to talk with your financial advisor and/or CPA to fully understand tax ramifications of leverage in your IRA including UBIT (Unrelated Business Taxable Income). Please do not wait and speak with your advisors before you invest.
Below is a list of self-directed IRA custodians and administrators we’ve worked with to provide non-recourse loans to California real estate investors and trust deed investors.