That tek would yield a dirty end product. You will have much better luck if you get a non polar solvent of some sort. Even if you are using 91% IPA the combination of alcohol and water is going to pull all sorts of things other than the tryptamines you want to extract.
You would certainly yield an end product containing a mixture of DMT/NMT but it would be contaminated with oils, fats, tannins, sodium carbonate and who knows what else from the bark.