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Author: katiewa Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Re: self-directed IRA custodian Date: 4/10/2011 1:23 PM
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Thanks, Canuck.

Since you initially had some concerns regarding managing the property yourselves, how did you get to the LLC? I like the simplicity of it, but I just can't seem to understand it in light of the self-dealing prohibitions. Also, what kind of tax paperwork do you have to do for the LLC and for the LLC to give to the IRA?

Also, how did you decide on your custodian? About what did the real estate purchase transaction cost in custiodian fees? Part of the reason I'm strongly considering Pensco is that there are no charges for purchasing real estate. While I want to have some rental property, I'm also wanting to refurbish and sell (as opposed to "flip", which I associate with people who buy cheap, slop a bunch of off-white, semi-gloss paint all over everything, and call it "newly remodeled") several times/year.

Thanks for the info!

Kathleen
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