Please Suggest IRA Custodian for Passive Real Estate Investing

[Sam Katz]

Hello, 

I'm in need of a reputable Self Directed IRA Custodian to hold a Line-Item or Shadow Investment of a Piece of Self Directed Passively Held Investment in My IRA. There will be no cash, but only showing a Line Item of this Multi-Family Passive Investment. Does anyone know of a financial Custodian who will do this for my IRA. No yearly income is expected, but future returns are hopeful.

Thank you,

[Brett Synicky]

Quote from @Sam Katz:

Quote from @Brett Synicky:

@Sam Katz Can you provide a bit more info? Are you looking to roll in funds to a self directed IRA/401k that you intend to invest into a multi family offering? Is this a syndication? What makes you call it "shadow" and just a "line item"?

With a self directed account you as the owner are the fiduciary of the plan so your job is to invest the plan's money (it's not your money) wisely. I'm not sure what you're describing is a wise investment. "No yearly income is expected, but future returns are hopeful". 

What exactly are you trying to do?

 Brett,

Thanks for your note. My apologies for the confusion. I currently have two Limited Partnership investments that Bank Regulators at a Banks Trust department that I have other assets with, are instructing those two LP's to be moved to another Custodian. I don't want to pay a lot in fees for these two Line Item investments that must be custodied somewhere. As I mentioned, there is no income on a yearly basis, and I'M hopeful for a lump sum payment to be paid in the future to this IRA, i.e. for each line item LP. Do you know of a Custodian that will do this for my IRA, without charging significant custody fees? TY again, Sam

Thank you for the clarification. It sounds like you’re attempting to move a personal asset into a retirement account. Because you’re a disqualified person that would trigger a prohibited transaction and the penalty for that is hefty. Typically disqualification of the entire plan. Don’t do this. I don’t know of a custodian that will do what you’re asking even if it is legitimate. Google SDIRA custodians and call around.