Self Directed IRA

Question 1

(Warranty) Deed Of Trust

Answer 1

Document that allows lender to circumvent court system in foreclosure. no going through courts, only in certain states

Question 1

Deed

Answer 1

Document that shows owner of property

Question 2

Title

Answer 2

Ownership record (chain on title), rights to sell property

Question 3

Close of Escrow

Answer 3

Third party that hods all parties money. Close is when all parties sign agreement and title shifted form seller to buyer

Question 4

Probate

Answer 4

Process of allocating assets after death. When some one dies, assets go to probate. (ex when some one doesn’t have will probate allocate assets)

Question 5

Seller Financing

Answer 5

Ownership to note. Note put in place. ownership flips to to buyer and original owner gets income stream. (Ex

Question 6

Subject To

Answer 6

sort of like seller financing. owner has mortgage(cant pay and no equity), buyer offers to take over mortgage (cover gap, deed property to buyer, buyer pays existing mortgage) not a loan assumption (replaces borrower)

Question 7

Wrap Mortgage

Question 8

Wholesale

Question 9

Real Estate Options

Question 10

Lease Options

Question 11

Tax Liens

Question 12

Can I manage my Own IRA Rental property

Answer 12

No

Question 13

Can My IRA Buy A Property I Already Own

Answer 13

No

Question 14

How Do I Use My Wife’s IRA To Buy Property

Question 15

Does the income HAVE to go back to my IRA, or can I keep some

Answer 15

All income/payment received must go back to IRA in whatever amount is owed (if IRA only owns 40% then 40% of income must be returned to IRA)

Question 16

Can I live in the property

Answer 16

No

Question 17

How do I use the property I own in my IRA

Question 18

Can I partner with my IRA

Answer 18

Yes