On our calls there has been some mention of self-directed IRAs several times. I just wanted to provide some comments. I have three self directed IRA's. My SEP, my Roth, and my wife's Roth. I heard about Equity Trust from several people so I checked them out. They provide self-direction, but they don't provide you with an LLC. They also have a lot of paperwork that needs to be filed to do any deal, which is time consuming, and expensive as you will need an attorney to draft it. The company I've used is called Security Trust - that is an actual custodian. They setup an LLC for your IRA, so you actually have asset protection for your IRA money. And they have full in house staff to handle questions and take care of every aspect of your account and transactions. They also don't nickle and dime for fees - it's just one flat fee per year. I've done a number of deals, it has been very, very simple. They take care of everything. I highly recommend them if you are considering self-direction, especially for real estate. The person that set me up is their midwest regional manager, and she is extremely sharp (Maria Triantos). Contact me if you'd like me to get you in touch with her. Their website is: www.securitytrustcompany.com. BTW, I don't get any kick backs, I just believe in their service!
Wow, good tip. I have Never heard of thatone, but been using Equity trust and have to agree that they tend to be on the bureaucratic side. but perhaps therefore they have been around for decades.
I have also heard nothing bad about Entrust. a few friends of mine use them and they are satisifed.
Before you go to ANY of these Self-directed IRA companies make sure to check how long they existed. I believe you money is safe in any of them (but i am not an expert in that), but if one of them goes insolvent, you will just have the trouble of going through the effort of setting up a new Account with a different Self-Directed IRA and ....