Looking to Set up a Self Directed Roth

[Thomas Talbert]

Howdy Everyone, 

I am looking to open a self directed Roth IRA to start investing in businesses I am close to. I would like to get coffee or lunch with someone near me to discuss what my limitations are and how to properly fund and structure deals. I have a sloth of opportunities to potentially deploy capital and need some guidance on how to manage it accordingly.

[Matt Devincenzo]

@Susanita VanGood I don't have checkbook control...I will say I wouldn't say anything about SDIRA etc. If you have checkbook control then you have an LLC set up, I think I would just give them whatever organizing docs they need and go from there. Often with things like this it isn't as much that you can't do it at the institution, and more that they're unfamiliar with the actual request and say it isn't an option.

For me, I've done real estate, notes, seller finance (sold IRA owned real estate and kept the note), private equity and a private stock offering. Honestly RE isn't as great as it sounds...I'm not saying not to own it in your IRA, but it has some operating challenges. It's physical, you interact with it. I haven't gone full cycle on the private equity or private stock, but both look to be great performers and I funded and walked away. The notes have been good as well, but my favorite notes were the ones that paid off early and gave me an equity bump.

An SDIRA is a great tool, and I'll definitely keep using it. But I more recently opened a brokerage IRA too and I switch cash to that periodically. It is by far easier to manage, gets rid of the dead equity position, and so far has performed specifically when my other options wouldn't have done as well. So I think using both is a great strategy if possible.