Self Directed IRA Lesson Learned

[Dan Fisher]

Hello BP community. Recently I purchased properties through my SDIRA account. I was shocked to find out that I was charged a $35 wire transfer fee for the rents received. That means that every year that I collect rents monthly it would total $420 in addition to the annual fee I'm already paying. Obviously, these fees cut into my ROI. I take blame for not looking closer at the fee schedule and am starting to look for lower cost SDIRA providers. I actually saw one that had a fee of only $10 per incoming wire (or only $120/year) so I'll probably be switching over. I would appreciate if anyone has suggestions to lower cost SDIRA providers. Thanks.