Self-Directed IRA Investors

[Jason R.]

Hello everyone! I’m new to REI and have heard that partnering with Self-Directed IRA Investors is a good solution for raising funds. Thoughts? What’s the best way to find Self-Directed IRA Investors? Thank you in advance for the feedback.

[Daniel Dietz]

@Jason R., @Dmitriy Fomichenko is spot on as to some ways to find them. 

I am taking a slightly different approach. I and my 2 partners already invest using SDIRAs and SOLO401Ks for buy and hold rentals. We have essentially 'used up' our funds in those accounts for buying about 10 units. 

So now we are seeking 'private money partners' to go 50-50 on more rentals. Some of those individuals are interested in using either current Traditional IRAs and converting them to 'Self Directed' IRAs or SOLO401ks, and a few we are talking to have recently left jobs or retired and have sizable 401Ks still sitting there and needing to do something with them. We are here to help :-)

How do we find them? Friends, family, neighbors, co-workers, former customers (my 'day job' is construction) who I do work for at thier 2nd, 3rd, or 4th homes on the lakes in our area that are 400K and up. Basically think of 'who might have funds to invest' (this can be in a IRA or just in 'cash/stocks' as far as I am concerned).

One thing that helps us is that we have an excellent track record of almost 30 years in our community in our construction business and in our rental business, so there is already a certain level of trust there. 

The 'model' we are working on is that they will put up the down payment, and we would do ALL the work of finding, rehabbing, finding and placing tenants and all ongoing PM and the like. Essentially they would have a completely passive investment and we would be making a return with no money out of our pockets, but by using our know;edge and time.

A side note; We use @Dmitriy Fomichenko for our accounts. I would *highly* recommenced him or one of the other providers that contribute here often. When I contacted them to pick a provider, they ALL gave much more personalized attention than the 'big players' I reached out to. 

Dan Dietz