Self Directed IRA service, can anyone recommend?

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Submitted by NicMM on March 18, 2012 - 3:29pm

Hi my fellow Piggs,

Since I changed my job, I have the flexibility to roll over my 401k with my previous employer to a self directed IRA. I am thinking about a Flex IRA with option to purchase precious metal, real estate and stocks. The precious metal dealers have listed several such IRA services on the website, such as Sterling Trust company (http://www.sterling-trust.com), Self Directed IRA Services (http://www.sdiraservices.com), The Entrust Group (http://www.theentrustgroup.com), etc. I browsed each website, but still could not decide which one is better.

Any piggs have a self directed IRA and can shred some light?

Thanks,
NicMM

Submitted by NicMM on March 18, 2012 - 9:44pm.

I found some discuss at LinkedIn. Some recommended SunWest trust.

Submitted by Kingside on March 19, 2012 - 7:22am.

There is a lot of variation on how custodians charge fees, so I would focus on this first in evaluating choosing a custodian for a self directed IRA.

This also means you need a more specific idea of what you intend your IRA to invest in.

I have a self directed IRA which invests in real estate, and for that I have gone with Equity Trust Company (which apparantly acquired Sterling). Equity Trust has an online no charge for ordinary course "bill pay" for paying regular property expenses which I find convenient. I am not aware of any other custodians who offer this. Other custodians will charge you for each check they write.

Their "Equity University" education program is mostly a sales pitch though which I find pretty worthless.

Submitted by houstongirl on March 19, 2012 - 8:34am.

Try questira
www.questira.com

Submitted by NicMM on March 19, 2012 - 6:34pm.

Thanks, Kingside. I am thinking of use the IRA to buy precious metal now or real estate in future. But I read some argued that there is no benefit to hold a real estate in IRA as you dont get any tax deduct to your expenses.

NicMM

Kingside wrote:
There is a lot of variation on how custodians charge fees, so I would focus on this first in evaluating choosing a custodian for a self directed IRA.

This also means you need a more specific idea of what you intend your IRA to invest in.

I have a self directed IRA which invests in real estate, and for that I have gone with Equity Trust Company (which apparantly acquired Sterling). Equity Trust has an online no charge for ordinary course "bill pay" for paying regular property expenses which I find convenient. I am not aware of any other custodians who offer this. Other custodians will charge you for each check they write.

Their "Equity University" education program is mostly a sales pitch though which I find pretty worthless.

Submitted by Kingside on March 19, 2012 - 8:33pm.

True, but I would not say there is no benefit as you don't pay any income taxes on your net rental income either, not even when you withdraw if it is a Roth IRA.

Submitted by NicMM on March 19, 2012 - 11:09pm.

Kingside,

I am wondering if this is allowed in the self direct IRA, considering the following case:
If you have an investment property that is gaining value and you want to sell it but dont want to pay tax for the gain. So you sell it to your Self Direct IRA for the same price you purchased, and then your Self Direct IRA sell it for profit (without paying tax).

Kingside wrote:
True, but I would not say there is no benefit as you don't pay any income taxes on your net rental income either, not even when you withdraw if it is a Roth IRA.

Submitted by Kingside on March 20, 2012 - 7:01am.

I do not claim to be an expert in IRAs, but my understanding is that what you suggest would be a prohibited transaction.

Submitted by NicMM on March 20, 2012 - 9:09pm.

That makes sense. Thanks, Kingside.

NicMM

Submitted by patb on March 21, 2012 - 9:25pm.

no IRA transactions with yourself as receipient.

now you could sell it to your brother, wait 90 days or so, then the IRA buys it
and flips it.

Submitted by patb on March 21, 2012 - 9:27pm.

i use equity trust www.trustetc.com now they do the whole red carpet to bring you in, then it's more the rice and beans on service, but, they seem honest and competent.

i did a full due diligence on them

Submitted by scaredyclassic on March 21, 2012 - 10:13pm.
Submitted by IRAhelper on December 6, 2012 - 10:58am.

Hi NicMM,
Did you ever get the help that you were looking for regarding your self-directed investments?

If not, I can help you with that. A great company to work with is The iPlan Group out of Ohio. They have a great service model that saves a lot of administrative time and their fees are probably the best in the industry, especially for active investors who are doing a lot of deals or whose account assets are growing fast and to large amounts.

Also, whats really great is that they have active Real Estate investors on staff so for all of the RE Investors out there looking to self-direct their retirement, they get it.

If you want to talk with one of their IRA Asset Strategists they have this cool little tool that allows you to view their live calendar and schedule a time that works for you. You can access it here: https://my.timedriver.com/8ZCDS+

Good Luck, The IRAhelper

Submitted by IRAhelper on December 6, 2012 - 11:02am.

Hi patb, is everything still going well with your Self-Directed Experience?

If you are interested in doing your due diligence on another option I've found a great company to work with at www.iplangroup.com out of Ohio

They have a great service model that saves a lot of administrative time and their fees are probably the best in the industry, especially for active investors who are doing a lot of deals or whose account assets are growing fast and to large amounts.

Also, whats really great is that they have active Real Estate investors on staff so for all of the RE Investors out there looking to self-direct their retirement, they get it.

If you want to talk with one of their IRA Asset Strategists they have this cool little tool that allows you to view their live calendar and schedule a time that works for you. You can access it here: https://my.timedriver.com/8ZCDS+

Good Luck, The IRAhelper

Submitted by IRAhelper on December 6, 2012 - 11:11am.

This is an old issue but for anyone else who finds their way to this post DO NOT DO this with your Self Directed IRA. It is, in fact, a prohibited transaction as your IRA can not buy from or sell to yourself or any other Disqualified Individuals (spouse, Grandparents, Parents, Children, Grandchildren, fiduciaries)

For more information about this contact the experts at a great company who specializes in this The iPlan Group. More info about them is at www.iplangroup.com and you can also schedule a time with one of their IRA Asset Strategists here: https://my.timedriver.com/8ZCDS+

Live free!
IRAhelper

Submitted by NicMM on December 6, 2012 - 11:14am.

Hi IRAhelper,

I ended up using Sunwest trust. Because they don't charge huge fees. So far so good.

Nicole

IRAhelper wrote:
Hi NicMM,
Did you ever get the help that you were looking for regarding your self-directed investments?

If not, I can help you with that. A great company to work with is The iPlan Group out of Ohio. They have a great service model that saves a lot of administrative time and their fees are probably the best in the industry, especially for active investors who are doing a lot of deals or whose account assets are growing fast and to large amounts.

Also, whats really great is that they have active Real Estate investors on staff so for all of the RE Investors out there looking to self-direct their retirement, they get it.

If you want to talk with one of their IRA Asset Strategists they have this cool little tool that allows you to view their live calendar and schedule a time that works for you. You can access it here: https://my.timedriver.com/8ZCDS+

Good Luck, The IRAhelper

Submitted by IRAhelper on December 6, 2012 - 11:17am.

Hi Kingside,
If you're ever looking for another option, try iPlan Group (www.iplangroup.com)

They have a great service model that saves a lot of administrative time and their fees are probably the best in the industry, especially for active investors who are doing a lot of deals or whose account assets are growing fast and to large amounts. That's because they only have 3 tiers to their annual fee and no transaction fees!

Also, whats really great is that they have active Real Estate investors on staff so for all of the RE Investors out there looking to self-direct their retirement, they get it.

If you want to talk with one of their IRA Asset Strategists they have this cool little tool that allows you to view their live calendar and schedule a time that works for you. You can access it here: https://my.timedriver.com/4678d33fb1b925...

Good Luck, The IRAhelper

Submitted by SD Realtor on December 6, 2012 - 12:00pm.

Hi Nicole

So did you make a purchase of an income property using Sunwest? I presume it has been going well? I would be interested to hear about the experience and approximate maintenance costs.

Submitted by NicMM on December 6, 2012 - 4:40pm.

My account can be used to purchase real estate. But I didnt do that. I used it to invest in precious metal.

SD Realtor wrote:
Hi Nicole

So did you make a purchase of an income property using Sunwest? I presume it has been going well? I would be interested to hear about the experience and approximate maintenance costs.

Submitted by flu on December 6, 2012 - 5:00pm.

Nicole,

if you don't mind me ask, what sort of fees are you looking at annually?

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