Hello all! My husband & I are setting up an SDIRA with an LLC for real estate investing. It seems most of the IRA custodians that support the SDIRA/LLC arrangement don't actually handle setting up the LLC or help with the mechanics of operating it.
We've found a couple that do, IRA Financial Trust Company and Midland Trust. Does anybody have experience with either? If so, would you recommend?
Are there any other recommended providers that do this? Thanks so much. New to this forum as well as investing.
Welcome to Bigger Pockets. As you have noticed, there are some differences in the policies and procedures between some of the self directed IRA custodians. Most custodians that allow for checkbook control do not set up the LLC. The vast majority of LLCs that have been set up for checkbook control have been created by dedicated LLC facilitators who work with one or more self directed IRA custodians for the IRA component of the IRA LLC structure. IRA Financial started as a facilitator and more recently added a custodial arm to their business. I am less familiar with Midland Trust but perhaps others will chime in. I would recommend talking with several LLC facilitators to compare pricing and service offerings to the companies you have mentioned. Best wishes to you and your real estate investing journey.
Thanks Justin. Yes, so much to learn on this new adventure. I appreciate you taking the time to help with my question. We researched and compared many other companies but wanted one that set up an LLC as well. After reviewing both Midland trust and IRA financials, we are leaning toward the later. Thanks again!