Self directed IRA

gordo · Nov 21, 2005

Anyone familiar with the firms offering self directed ira's? I am interested in being able to invest in real estate in my ira, but am fairly new to the self directed account. I currently have my ira at a large wire house, and want the best bang for the buck. Who are the best firms, and what are the typical charges, maintence fees, etc? Other considerations? Any advice is appreciated.

Thanks,

Gord

vulture · Nov 21, 2005

Quote from gordo:

Anyone familiar with the firms offering self directed ira's? I am interested in being able to invest in real estate in my ira, but am fairly new to the self directed account. I currently have my ira at a large wire house, and want the best bang for the buck. Who are the best firms, and what are the typical charges, maintence fees, etc? Other considerations? Any advice is appreciated.

Thanks,

Gord

I've explored this issue and, by no means, do I have all the answers, but the Custodian that Interactive Brokers uses seemed to have the most reasonable fee structure. Do a google search for Trustar. Some of the other custodians charged some egregious administrative and miscellaneous fees.

gordo · Nov 21, 2005

Vulture:

Thanks for the reply. Yes the fee structure by some of these custodians, does seem a bit hefty. I will try a search on these guys. Thanks again.

Gordo

thecalip · Nov 22, 2005

MB usine Penson Financial. $35/yr custodian fee.

gordo · Nov 23, 2005

Thanks calip, I'll check into them.

gordo

big_jdez · Nov 23, 2005

Quote from vulture:

I've explored this issue and, by no means, do I have all the answers, but the Custodian that Interactive Brokers uses seemed to have the most reasonable fee structure. Do a google search for Trustar. Some of the other custodians charged some egregious administrative and miscellaneous fees.

I don't believe that IB allows you to invest in RE like a true Self Directed IRA. There's a book on the subject.
http://www.amazon.com/exec/obidos/search-handle-form/103-0013812-5151049

vulture · Nov 23, 2005

Quote from big_jdez:

I don't believe that IB allows you to invest in RE like a true Self Directed IRA. There's a book on the subject.
http://www.amazon.com/exec/obidos/search-handle-form/103-0013812-5151049

A bit of a misunderstanding. The Custodian, in this case Trustar, administers the self directed trust and files the tax forms etc, etc. You make the decision whether you want to open a brokerage account with Interactive Brokers. You also make the decision whether you want to invest in real estate or what not. The Self Directed IRA, opened thru Trustar, and if you so desire with an account at IB, gives you more alternatives with regards to investment strategies and/or products.

mrvizion · Nov 23, 2005

I use these people for all my Clients that send me portions of their IRA accounts http://www.mtrustcompany.com/ Millenium Trust. I can highly recommend them personally and they have all the features that the thread starter was looking for and then some.

Vizion

Norm · Nov 23, 2005

Isn't there a prohibition on the direct investment of IRA funds in RE? I though we were limited to REITs and the like.

Anyway, the link to the book on Amazon doesn't seem to work. I tried it on two different computers. Please post a working link or the name of the book.

Thanks,
Norm

mrvizion · Nov 23, 2005

Quote from Norm:

Isn't there a prohibition on the direct investment of IRA funds in RE? I though we were limited to REITs and the like.

Anyway, the link to the book on Amazon doesn't seem to work. I tried it on two different computers. Please post a working link or the name of the book.

Thanks,
Norm

There is a lot less crap associated with self directed IRA's than you migh think. I know one of the rules of real estate investmnt is just that it can't be a property that you will dwell in yourself. Other than that it's pretty easy to do.