Looking for Self Directed IRA Recommendations

7 Replies

@Melissa Barnes ,

Welcome to BiggerPockets and congrats on your first forum post!

There are several options available when it comes to self-directing your retirement funds:

1. Custodial self-directed IRA. Your funds are with the custodian and you work with then or TPA on making alternative investments. 

2. If you want greater freedom and flexibility then you may want to consider Checkbook IRA (aka IRA LLC).

3. If you are self-employed your choice would be truly self-directed Solo 401k plan, it does not require third party custodian, offers checkbook control, low cost with no transaction fees, ability to leverage without being subject to UBIT and more.

Which of those will be best fit for you? 

@Melissa Barnes I like the 'checkbook contrl' or IRA LLC model for our rental business hands down. Both myself and my 2 partners all use @Dmitriy Fomichenko services and have been extremely satisfied  with his firm. 

(I tried to 'tag' the others but that feature is not working right now for me)

The people like him or others that chime in here (you can tell by their 'signature lines', as they are not supposed to 'self promote') could all be potentially good fits. My personal expericene was when I contacted several of them along with a few of the 'big companies', ALL of the smaller providers on here gave much better attention and advice. It is also supporting the BP Community which I highly believe in. 

Dan Dietz

Thanks @Daniel Dietz for kind words!

@Melissa Barnes , I suggest that you first decide which self-directed vehicle you wish to use, then narrow down to several service providers. Review their references and contact them directly to discuss your particular situation. Then it will be easy for you to make a selection. 

@Melissa Barnes I second what @Dmitriy Fomichenko said about the choices. You need to figure out what type of SDIRA fits your needs. I'd personally start with #3 as your first choice if you're eligible. 

In terms of the recommendations, I couldn't agree more with @Daniel Dietz . I used @Dmitriy Fomichenko and his team twice and both time was very happy with a top notch services provided. 

If you'd like more details, feel free to PM me.

Best!