Originally posted by @Jon Wylie:
Does anyone know a good company to use for the self-directed IRAs for real estate? I am having a tough time finding a place to transfer my IRA to do this.
Jon, here is a great list of SD-IRA custodians: https://www.biggerpockets.com/...
Last year I opened an account with Millennium Trust Company (MTC) and used the money in my SD-IRA to loan to a real estate investor flipping a house. We signed a promissory note and deed of trust to secure it. It should have been a simple process, but I found it to be cumbersome. Being new to self-directing, I had several questions along the way and was dissatisfied with MTC's customer service. For example, I had to send multiple emails asking the same thing because my question was not answered or explained well enough. Once I finally found someone's personal email address instead of the generic customer service address, communication did improve, but the paperwork process was not easy to follow, in my opinion, and I could tell the person borrowing from me was getting frustrated.
Equity Trust does does produce some good content--webinars, informational PDFs, blog posts, etc. I have read mixed reviews elsewhere on BP, though.
I am talking with another real estate investor right now with whom my wife may use her IRA to lend money to, and he said he has had mostly great experiences with uDirect IRA.
After reading @Brian Eastman's posts on this thread and other places, it is clear he is very knowledgeable and willing to help, which I now know is very important, even for simple transactions. Therefore, I have gone to his website and scheduled an appointment to chat with him on Monday about transferring my wife's Roth to a self-directed IRA.