All Forum Posts by: Daniel Guillermo

I have decided to open a self-directed IRA to invest in rental property. I was wondering if anyone could recommend an IRA custodian that I could use. I'd like one that is easy to work with and has reasonable fees. I noticed some have transaction fees while some have flat fees but I'm not sure which is better. It seems like transaction fees can get pretty high if you have multiple leveraged properties in the IRA. I have done some searching on this forum and see some have used UDirect or Equity Trust, are those my best options? Who do you recommend and why?

Yes, me too.

This is a great thread with lots of great insight. I have to agree that turnkey, while not for everyone, does make sense for a person who has a demanding full time job. I definitely fall into that category. I made a decision that turnkey is the route I want to go. I am trying to narrow it down to what market I want to invest in, after choosing the market I will pick a turn key provider.

Hi @David Ray

I am also from Long Island. I live in Suffolk County.

@AMY NEWTON I am in the same boat. I live in Long Island where taxes are high and prices are high. I have a rental property in Dallas and I am currently in the market to purchase 1 or 2 more cash flowing properties. I have not decided which market to buy in but am researching a few markets. I did visit Dallas when I purchased the property a few years ago but have not been back since. I will probably visit whatever market I decide to purchase in just for peace of mind. I like to see what I am buying and I also like to visit new cities. I don't think it is important to know someone who lives there as long as you have a good property manager managing the property for you.

My strategy is to buy and hold. I find that the high prices and extremely high taxes on Long Island make it difficult to cash flow.

I live on Long Island in Melville, however I don't invest on the Island. I have property in Dallas and used to have property in Fl. I am currently looking to buy property out of state for long term buy & hold.

sounds like you have a great plan. I was asking because I also am interested in out of state rentals so I am trying to get an idea of how others are going about finding these properties.