Can someone give me some suggestions on what is the best (cheapest transaction and maintenance fee) company to open self directed Roth IRA account?

SELF DIRECTED IRA S ARE PERFECT. MANY OF OUR INVESTORS USE THEM.

@Eric James Payment for renovation expenses would have to come from your IRA, and not from personal funds. The process could be streamlined by obtaining checkbook control of the IRA funds. Checkbook-control enables you to have your IRA funds in a bank checking out from which you could conduct business as usual, without the involvement of a custodian at each point. Another factor to consider is UBIT - Unrelated Business Income Tax. If an IRA acquires real-estate with the intent to sell, the subsequent sale could be taxable.

Equity Trust is the worst in the industry....My vote is with Quest and if you call them today and tell them that I sent you, they'll wave the new account setup fee.

@Randy Craven When utilizing a Solo 401(k) with checkbook-control you would be the plan trustee and the plan assets could held in a bank account from which you could invest without the involvement of a custodian. Qualified Plans, such as 401(k)s and profit-sharing plans don't need a qualified custodian (unlike an IRA, which requires a custodian and for which an LLC is used to achieve checkbook-control).

@Kin Lay There are custodians that offer self-directed IRA accounts with and without checkbook-control. Checkbook-control using an IRA-LLC would minimize the involvement of the custodian, keeping fees down and giving you complete control over the assets. The freedom of checkbook control does require you to be more aware of some tax rules that affect IRAs.

I've used a few and I like Advanta. They allow checkbook IRAs, they answer the phone and return phone calls. You can speak to a real person including their attorneys who specialize in self-directed retirement accounts and their fees are reasonable.

Kin I would agree with Scott. I opened up a solo401k initially with the check book etc. But my custodian did not understand real estate and what my goals were. Since then I have closed the Solo401k with checkbook control and opened up an account with Quest. Before going with Quest I had talked with at least 3 other companies. Quest by far has exceeded my expectations and they understand real estate investors because they are investors. Quest is always having promotions, and their training (via FB live, on their web page, plus live training events across the country) I don't think is matched by anyone else.

I would recommend Quest IRA...http://www.QuestIRA.com Hands down they have the best customer service and staff in the industry! You won't be disappointed. If you want an introduction, drop me an email and I'll have them give you a call.

This BP hyperlink might be useful. It lists many of the SDIRA custodian. https://www.biggerpockets.com/rei/self-directed-ira-real-estate/

I tend to find most SDIRA administrators and custodians are competitive with each other in regard to cost. I personally prefer good service and a knowledgeable staff! I am willing to pay $50 or a little more on annual fees if I can get better service and quick processing time. Everyone has their own priorities. I always say that you should pick your top 3 providers and call each one, you should have a clear idea of which will meet your needs best after that. Here is a link to bigger pockets list of IRA administrators and custodians https://www.biggerpockets.com/rei/self-directed-ir...

What is the best company to open self directed Roth IRA account?What is the best company to open self directed Roth IRA account?

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What is the best company to open self directed Roth IRA account?

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