Let your IRA be the bank and earn interest. Remember, banks get rich by charging interest and your IRA can do the same.
Things to Know Before Investing in Private Lending
- All expenses associated with the investment must come from cash in your account. All revenue must go through the IRA.
- Ask everything you want. Remember the last time you borrowed money from a bank? They asked you everything. Don’t be shy.
- The investment is made by the IRA – not you.
- The purchase should not constitute a prohibited transaction.
An IRA Club Self Directed IRA may make almost any investment for your future – including private lending. The IRA Club provides our members with a no-cost review to help you avoid making one of the few prohibited transactions.