Self Directed IRA
I have been told that self directed IRA's are a good source for real estate equity. Can any one tell me where I can find a financial counselor who has access to these accounts or individuals?
I have been told that self directed IRA's are a good source for real estate equity. Can any one tell me where I can find a financial counselor who has access to these accounts or individuals?
Do a search for Entrust or Equity trust co. (formerly Mid Ohio Securities). Entrust has a very informative website with a message board like this one. Self directed Roth IRA's are agreat way to build wealth faster with much more control of your investment.
I have visited the sites of, Capital Trust Company of Delaware, Santa Fe Trust, Pensco, Entrust Administration Inc. (Self-Directed IRA to Invest in Real Estate Tour), Mid-Ohio Securities (now Equity Trust) and Sterling Trust.
All are custodians, independent trustees or administrators. I need someone who has access to the funds.
Thanks!
I have been with (formerly Mid Ohio Securities) for a year or so. They changed or sold to another company.
You can find them on the web at "trustetc"
They have a lot of very good info on their site on REI.
Best of luck.
Are you wanting people who have these self-directed IRA's to invest with you??
Yes, I am looking for investors for an office/warehouse to be developed in Orlando, Florida. The equity required is $450,000.
I am just looking for a way to move my Roth IRA from a bank to a Self Directed IRA that I can invest in Mutual Funds that invest in Real Estate
I'm not sure that you need to move your Roth to a self directed IRA custodian if you just want to buy a mutual fund.
You can buy mutual funds from almost anyone who sells stock. If you want to do it yourself, move your ROTH to a company that has a web interface - like Fidelity, TD Waterhouse, Ameritrade, Scottrade, Charles Schwab, etc - and pay less fees than a self-directed IRA.
Check each company out - fees vary greatly for each mutual fund transaction, front end and back end loads, and management fees by the mutual fund itself. Some also penalize you if you withdraw your position within 90 or 180 days.
A self-directed IRA is a completely different thing. It will let you invest in actual real estate by using your Roth funds as a down payment on a property, for example.
Sounds good, eh?? But there's a catch. I went to a Real Estate convention last month where Equity Trust had a booth. I was thinking of moving my Roth to them, because they are one of the self-directed IRA custodians.
Then I got a load of their management fees! I decided I'd better not move anything until I am ready to actually buy a property.
So I invested my ROTH moneys in a Real Estate Investment Trust (REIT) from my FIdelity account and have made several hundred dollars in a month, rather than spending several hundred dollars on Equity Trust's management fees.
Whatever you do, take the time to check the fine print. It can save you a bundle!
MarleneM
What is the project description?
How much of your own money you are going to invest?
How many similar project did you do in the past?
Can you please reformulate your question to include more detail, as is stand now it's kind of out of focus and it's a bit hard that we have to pull your words out in time when you need some help.
[ Edited by omega1 on Date 02/05/2004 ]
I think DavidMc is looking for list of people who have self-directed IRAs as a potential pool of investors.
I'm sure I wouldn't appreciate the administrator of my self-directed IRA giving out, or selling my name to people looking for money. It seems improbable that a reputable company would or could do that.
Check this sites:
http://www.matthewfleck.com/equity-trust-co/equity-trust-co.html
http://www.trustetc.com/links/realestate.html
I hesitate providing a description because the Moderator will lock the topic because of advertising. However, following is the project description you asked for:
The purpose of this development is to build an office/showroom and service center for the trades and skilled small business. This facility will offer affordable space, serve as a business incubator and provide employment opportunities. This is a speculative building and the type and activity of the tenants will include light manufacturing, warehousing, wholesaling, storage, assembly, and distribution of goods.
The 37,500 square feet of net rentable space will be built in one phase. The ground level improvement will be a split face concrete block exterior wall with a preengineered metal roof. The roof will be a standing seam metal roof with a 3 on 12-pitch and 4' front sofit. The eve height is 16' and the ridge is 22'. The interior walls are (1-hour) drywall. The electric service will be individually metered and the water will be master metered. Three-phase power will be available.
A full and compete description can be found at www.amerifirstcap.com or you can call me at (800) 308-3276, X249.
I have completed two similar projects that are 100% leased and occupied. I am starting my third development in March.
Thank you for your questions.
Davidmc,
You are right I have to lock the topic because of it, but the information on the IRA's is excellant. As long as Joel agrees with my decision I will just lock it and not delete it as personally I feel that the information on the IRA's out weighs the advertisement you made. If any or all of you would like to post another thread on the IRA Topic I encourage you to do so as it was one of the most informative I have read in quite a while. I started another post (IRA, Self Directed, Real Estate etc.) for the continuation of this
http://www.thecreativeinvestor.com/ViewTopic21355-32-0.html
Sorry I have to be the bad guy but rules are rules. Next time place your advertisement in the TCI Realty section, you will also get more people that are looking for investments to make from every forum not just this one.
Kyle