How to Buy Mortgage Notes From a Self-Directed IRA
26% of the deals on Paperstac are funded with Self-Directed IRA (SDIRA) accounts (according to our 2019 Mid-Year Market Report). However, we noticed a trend where these deals were getting stalled for almost 2 weeks during the funding stage due to all of the back-and-forth between the Buyer, Seller and SDIRA Custodian. So, several months back we began working on an integration that would streamline the process by linking Paperstac transactions directly with the SDIRA Custodian providing an easy-to-follow process that will get us closer to the goal of same-day funding from our SDIRA accounts.
Today we are excited to announce the launch of this new feature with 14 different SDIRA Custodian partners!
How It Works...
After you come to terms on a Paperstac deal, you’ll have a To-Do requesting that you add your vesting information for the closing. When you create your vesting profile, you’ll want to complete the “Link to Self-Directed IRA Account” section to add your SDIRA account.
Once you are done providing your vesting information, Paperstac will add new To-Do items enabling the Buyer and Seller to easily provide all of the documents that the SDIRA Custodian requires for funding.
Click on the To-Do item to provide required documents and interact with your SDIRA Custodian.
That’s it! With our new integration you are able to seamlessly fund your deal with your SDIRA account without having to leave your Paperstac transaction!