Self Directed IRA Custodian Recommendations

[irr]

Hi everyone,

Not sure if it's allowed but I'm looking for recommendations for custodians for self directed IRA's. I've tried searching online, but everything seems to be an advertisement.

Looking for reasonably priced providers with checkbook control.

I'm full time in REI, so I don't need hand holding there.

[simas]

Hi everyone,

Not sure if it's allowed but I'm looking for recommendations for custodians for self directed IRA's. I've tried searching online, but everything seems to be an advertisement.

Looking for reasonably priced providers with checkbook control.

I'm full time in REI, so I don't need hand holding there.

what is your definition of 'self-directed' ? every discount broker offers self-directed as you are making your own investment product decisions..
or you want to hold non-traditional assets (real estate, art, etc) in IRA?

I use them for my s401k and am happy with them - https://discountsolo401k.com/ira-llc-overview/ .They also seem to offer IRA product - https://discountsolo401k.com/wp-content ... -small.pdf , the costs (formation and annually) is the first slide.

[Mattman25]

No personal experience recommendations here but I have been looking at RocketDollar for my SDIRA but haven't pulled the trigger yet.

[LotsaGray]

Hi everyone,

Not sure if it's allowed but I'm looking for recommendations for custodians for self directed IRA's. I've tried searching online, but everything seems to be an advertisement.

Looking for reasonably priced providers with checkbook control.

I'm full time in REI, so I don't need hand holding there.

what is your definition of 'self-directed' ? every discount broker offers self-directed as you are making your own investment product decisions..
or you want to hold non-traditional assets (real estate, art, etc) in IRA?

I use them for my s401k and am happy with them - https://discountsolo401k.com/ira-llc-overview/ .They also seem to offer IRA product - https://discountsolo401k.com/wp-content ... -small.pdf , the costs (formation and annually) is the first slide.

Really is not your or OP definition. The term 'self-directed IRA' is (at least colloquially) defined. Your reference to normal brokerage IRAs is non sequitur.

From Investopedia (but plenty of other online sources with same def are available)
"What Is a Self-Directed IRA (SDIRA)?

A self-directed individual retirement account (SDIRA) is a type of individual retirement account (IRA) that can hold various alternative investments normally prohibited from regular IRAs. Although a custodian or trustee administers the account, it’s directly managed by the account holder, which is why it’s called self-directed."

[flarf]

I use Millennium Trust Company, but I don't have real estate assets with them so I can't speak to their abilities on that front.

Fees are straightforward, knowledgeable people answer the phone the very few times I need to speak with a human.

[Alan S.]

Hi everyone,

Not sure if it's allowed but I'm looking for recommendations for custodians for self directed IRA's. I've tried searching online, but everything seems to be an advertisement.

Looking for reasonably priced providers with checkbook control.

I'm full time in REI, so I don't need hand holding there.

If you are considering a checkbook control LLC setup, in addition to the risks of committing a prohibited transaction, there will be more reporting hassles to deal with:

https://www.ascensus.com/industry-regul ... wned-llcs/

With the IRS filling many job openings and being able to actually act on their priority guidance planning, the attention that SD IRAs will probably get makes for more risks for taxpayers. If you are interested, be sure to use a top flight SD IRA custodian, as these custodians work with SD IRAs 24-7 and can help prevent costly errors.

[irr]

Thanks. Agreed on wanting a top notch custodian. I'm not concerned with prohibited transactions or beneficial ownership. Sticking to private lending with zero involvement from my end. The only other thing I would consider is buying a piece of raw land and listing it with a broker at a later date.

[irr]

Hi everyone,

Not sure if it's allowed but I'm looking for recommendations for custodians for self directed IRA's. I've tried searching online, but everything seems to be an advertisement.

Looking for reasonably priced providers with checkbook control.

I'm full time in REI, so I don't need hand holding there.

what is your definition of 'self-directed' ? every discount broker offers self-directed as you are making your own investment product decisions..
or you want to hold non-traditional assets (real estate, art, etc) in IRA?

I use them for my s401k and am happy with them - https://discountsolo401k.com/ira-llc-overview/ .They also seem to offer IRA product - https://discountsolo401k.com/wp-content ... -small.pdf , the costs (formation and annually) is the first slide.

Really is not your or OP definition. The term 'self-directed IRA' is (at least colloquially) defined. Your reference to normal brokerage IRAs is non sequitur.

From Investopedia (but plenty of other online sources with same def are available)
"What Is a Self-Directed IRA (SDIRA)?

A self-directed individual retirement account (SDIRA) is a type of individual retirement account (IRA) that can hold various alternative investments normally prohibited from regular IRAs. Although a custodian or trustee administers the account, it’s directly managed by the account holder, which is why it’s called self-directed."

You're accounting is correct. I want to invest in alternative assets that aren't on platforms (primarily direct private lending to real estate investors).

[lillycat]

I also do REI.
I have Millenium Trust accounts.(Am litigation adverse, and prefer to break up my holdings.)
It takes awhile to go through their procedures to get a deal done. It can be frustrating.
They bought out my previous custodian, Sunwest Trust, which I preferred.

This is NOT FOR THE FAINT OF HEART.
I have had a “Checkbook controlled” Self directed ROTH IRA, based on an LLC, with IRA Financial for almost 2 years now.
The founder and CEO, Adam Bergman, is a sharp attorney. IRA Fin handles almost all reporting requirements.
I have a checking account with Capital One in the LLC’s name, and my tangible RE assets are held in the LLC.
I am a Texas licensed attorney. I do not work for others, I just handle my RE holdings.

I love this approach. IRA Fin is great! (So far).
This is my world. I know what I’m doing, so no prohibited transactions for me.
YMMV.