Recommendations on Self Directed IRA's
Cleveland · Member since 2023 · 16 posts · 20 votes
Recommendations on Self Directed IRA's
Most Popular Reply
Brett SynickyPro Member
Solo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 873 posts · 498 votesQuote from @Brendan Connolly:
I'm looking at moving my 401K into a self directed IRA. I wanted to see if anyone had any recommendations on which company is the best to do this.
After calling around, Equity Trust seems like it offers the most benefits to it's customers by allowing for a wide range of investment opportunities and they definitely seemed to have the best customer service for the companies that I called.
They do seem to have some high fees though ($750 annually and $1,295 LLC setup if you want to use the funds for real estate). I'm ok with that if the customer service is good.
Does anyone have any recommendations for companies that you use for self directed IRA's that might be a better fit than Equity Trust?
There are a couple of different types of SDIRA's. One where you have checkbook control (aka checkbook IRA) and one where you have to go through the custodian for all transactions, and custodian is on title fbo your IRA. With checkbook IRA, a special purpose LLC is created that is wholly owned by your IRA, that you are the manager of which is what allows you to bypass the custodian when investing. Either of these types of setups can invest in real estate, so technically you don't need the LLC. Without it, going through the custodian for everything can cause delays, red tape, and additional fees but are generally less to set up than checkbook IRA since no LLC is needed and the company will make more over the long term with the higher ongoing fees. Either way works, just educate yourself on the differences before you pull the trigger.
8 Replies
- Investor · Coppell, TX · Member since 2018 · 311 posts · 166 votes1y
@Brendan Connolly I work with several custodian companies as a real estate investment advisor. If you DM me your information, including what specifically you are planning on doing with your SDIRA, I can do a warm introduction via email to the best custodian that matches your needs (I don't work for any custodian companies)...
- 1ySteve HiltabiddlePro MemberLender · Pennysylvania · Member since 2018 · 139 posts · 68 votes
@Brendan Connolly I'm including a BP Profile Link to Alan Johnson who I connected with on this very topic: https://www.biggerpockets.com/users/alanj36 For some reason I can't pull him up to tag him in this thread.
We spoke about my specific needs and he provided a report with a variety of parameters for perhaps 2 dozen different SDIRA Custodians. Ping him and see if he's still offering this service.
Good luck,
Steve
- 1yBrett SynickyPro MemberSolo 401k and SDIRA Consultant · Orange, CA · Member since 2013 · 873 posts · 498 votes
Quote from @Brendan Connolly:
I'm looking at moving my 401K into a self directed IRA. I wanted to see if anyone had any recommendations on which company is the best to do this.
After calling around, Equity Trust seems like it offers the most benefits to it's customers by allowing for a wide range of investment opportunities and they definitely seemed to have the best customer service for the companies that I called.
They do seem to have some high fees though ($750 annually and $1,295 LLC setup if you want to use the funds for real estate). I'm ok with that if the customer service is good.
Does anyone have any recommendations for companies that you use for self directed IRA's that might be a better fit than Equity Trust?There are a couple of different types of SDIRA's. One where you have checkbook control (aka checkbook IRA) and one where you have to go through the custodian for all transactions, and custodian is on title fbo your IRA. With checkbook IRA, a special purpose LLC is created that is wholly owned by your IRA, that you are the manager of which is what allows you to bypass the custodian when investing. Either of these types of setups can invest in real estate, so technically you don't need the LLC. Without it, going through the custodian for everything can cause delays, red tape, and additional fees but are generally less to set up than checkbook IRA since no LLC is needed and the company will make more over the long term with the higher ongoing fees. Either way works, just educate yourself on the differences before you pull the trigger.
- 1yJonah SlovePro MemberMember since 2023 · 77 posts · 53 votes
I am also looking for custodial services. Can someone please help point me in the right direction to convert an inherited traditional IRA into a SDIRA?
- 1yJonah SlovePro MemberMember since 2023 · 77 posts · 53 votes
Quote from @Amir Khan:
Quote from @Jonah Slove:
I am also looking for custodial services. Can someone please help point me in the right direction to convert an inherited traditional IRA into a SDIRA?
Hey @Jonah Slove, I work with several SDIRA custodians. Please DM me what exactly you are looking for and I'll do a warm introduction to the best custodian that matches your needs...
Great, sent you a message. Thanks!
- Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes1y
Quote from @Brendan Connolly:
I'm looking at moving my 401K into a self directed IRA. I wanted to see if anyone had any recommendations on which company is the best to do this.
After calling around, Equity Trust seems like it offers the most benefits to it's customers by allowing for a wide range of investment opportunities and they definitely seemed to have the best customer service for the companies that I called.
They do seem to have some high fees though ($750 annually and $1,295 LLC setup if you want to use the funds for real estate). I'm ok with that if the customer service is good.
Does anyone have any recommendations for companies that you use for self directed IRA's that might be a better fit than Equity Trust?There are tons of companies and each one suits sometimes a different need. Having a $1M balance vs. a $50k balance will drive you towards one company over the other. So its not always "pick this one", its like buying a motorcyle or a minivan. One suits one type of person a lot better than the other. The best thing to do is call around, learn about their process and fees and go with the one you like.
7e investments53 Reviews - Investor · Member since 2025 · 21 posts · 21 votes1y
@Brendan Connolly Doing your research is a smart move; there are definitely a lot of companies out there to consider. A few things to think about as you talk to different custodians is what types of investments you might want to make. Is it just real estate, or might you want to branch out into other asset classes as well? Also, depending on whether or not you opt for checkbook control, there may be fees per transaction, which could add up if you're an active investor. In addition, do the companies provide any access to potential investment opportunities? If you have any other questions about Equity Trust, I'm happy to help :) .
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