Self Directed IRA is hard to find!!!!!

[Fred Canzano]

I'm in New Jersey and have a check from another IRA that needs to be rolled over ASAP. I want to start a self-directed IRA but cant find a financial institution that has them available for real estate investing. Tried TD Ameritrade,Wells Fargo, and a local community bank. Anyone know which financial institutions are handling SD IRA's?

[Brian Eastman]

@Fred Canzano

Self-directed IRA accounts are a specialty service, not served by the mainstream brokerage houses.

There are several types of account structures, and what will be best for you will depend a lot on variables such as the amount of capital, investment types, your employment status, etc.  

I would suggest that you park that money by depositing it into a regular IRA at your local bank. You only have 60 days from the initial distribution to deposit that money, and failure to do so would be catastrophic to the IRA and taxable.

Then, take your time and learn more about self-directed IRA plans and how they line up with your goals. There are several providers of such plans active here on BP sharing their expertise, and a ton of great posts on the topic. There is no need to rush your decision just because you have to find a home for that money. Once you have a plan in place, you can then easily move it from wherever you park it for the short term.