With the Self-Directed IRA LLC structure with “checkbook control” you can invest in real estate anywhere in the country. IRA Financial Group sets up a structure where you, as the manager of your LLC, have complete control over your IRA investments. That means you can invest in real estate wherever and whenever you choose tax free, as long as you stay within the restrictions outlined in Internal Revenue Code 4975 by the IRS.
There are other so-called “Self-Directed” IRA companies out there that are not truly self-directed, whereas you do not have control over your assets and the custodian has to approve of your investments. With a Self-Directed IRA LLC with “checkbook control” you no longer have to pay excessive custodian fees based on account value and transaction fees. Instead, with a “checkbook control” Self-Directed IRA LLC, you can take advantage of all the benefits of self-directing your retirement assets without incurring excessive custodian fees and custodian created delays.
The IRA Financial Group Experts will assist you in transferring your retirement funds tax-free from your current custodian to a new FDIC backed/IRS approved Passive Custodian and then to the new IRA LLC bank account tax-free!
For a Self-Directed IRA LLC, a special purpose limited liability company (“LLC”) will be owned by the IRA custodian and the IRA holder (you) or any third-party will serve as the manager of the LLC. The LLC is formed in the state of your choice.
To purchase real estate outside of the state you formed your LLC in, you simply register to do business in the state in which you would like to purchase real estate. This process is relatively quick and simple.