Self Directed IRA for Real estate investment

[Pat Patel]

Hello investors. I'm considering converting my IRA into a self directed IRA for real estate investments. I would appreciate recommendations for Check book IRA companies, pit falls, must and mustn't do's, etc. I am a newbie and have been pouring through many videos over the last few months to gain knowledge. Thank you..

[Carl Fischer]

@Pat Patel

Are you familiar with the prohibited transaction rules that self-directed IRA's follow? If not, I would recommend you do some research on that particular area of self-directed IRAs, especially with a checkbook IRA. The best advice I could give is to work with a team of knowledgeable professionals to make sure all transactions are done correctly and in accordance with the IRS rules and regulations. In terms of companies, check out this list of custodian and administrators bigger pockets created. I would recommend you find out what the 3 most important things you want in an IRA custodian or administrator are and then narrow down to your top 2 or 3 and call each one. Some things I like to consider besides the cost are customer service, knowledgeable staff, ease of transactions, and quick processing time on transactions.