All Forum Posts by: Jaime Raskulinecz

If you're anything like me, customer service is the main draw for me when I am choosing any service provider.

Look at websites, reviews and testimonials. Call the offices of some of the custodians that interest you and see how the phones are answered. Is it an automated voice attendant, is it a call center where you are routed to someone else eventually to get an answer, or is it a live, well trained staff member?

Decide what is important to you and choose the custodian that offers it. While fees are pretty similar between custodians, read the fee schedules carefully as there are sometimes others fees charged that aren't readily discernible.

Good luck and happy holidays!

Jaime

@Devin 

@Devin Basile there is a value to a binding contract so that would be self dealing if you transferred something from your own name, or an entity owned by you, to your IRA. the LLC that you want to use with your IRA should be formed after your account is set up with a proper custodian.

While these forums are a wealth of information, you want to be sure you find a custodian that will provide more education and context so there are no mistakes made. 

Brett is correct on his points. I will add that this is a process that has many rules that are required to be followed and there are serious financial penalties if you make a mistake. 
do your research and learn all you can and/or find a custodian who provides education as well as an ERISA attorney who can advise you. 

UDFI is a real thing, however, there are also some expenses that can be used to offset some of that. I have never had anyone tell me that any deal wasn't worth it due to UDFI.

I will echo the other responses and say that it entirely depends on what your gaol is in making the investment and how the numbers stack up when you run them to see what works best for you.

Good luck!

@Nicole Tuffarelli It is absolutely possible with the right custodian. You would be transferring the IRA to a new custodian who specializes in this so there would be no tax consequence. The others are correct that it isn't necessarily enough to buy real estate but there are so many other possibilities for investments that can be tied to real estate, or you can partner with others.

Good luck!

Traditional custodians do not handle alternative assets that aren't publicly traded. You will need a custodian who specializes in this area.

Jaime

@Account Closed If you mean do we take clients from anywhere in the country, the answer is yes. 

Jaime

Unless someone is very comfortable with all the rules regarding SDIRAs and prohibited transactions, we don't recommend these types of entities.

We have never had any complaints from our clients who hold real estate directly that there are too many delays or too many fees. We have several strategies to mitigate delays and fees that work well and keep the tax advantaged status of the account secure.

As everyone has already said, this is not allowable. Trying to work around the rules by doing whatn you suggested with a friend's IRA is also not permitted.

@Nathan M kiefer Sorry, you may not transfer real property you personally own into an IRA. That is a prohibited transaction.

I'd be happy to answer any other questions you may have about SDIRAs.

Jaime