Have a Self Directed IRA? Congratulations, you probably have one of the greatest financial tools available to start building up your retirement.
Your self directed IRA is similar to an airplane. When it works, its wonderful, when it doesn’t work, its a disaster. Take a simple real estate transaction, who is on title to the property? It should be the custodian or trust company. However a lot of people who are using “administrators” don’t realize that in many instances the custodian being used by the administrator resigns and doesn’t change the title to the real estate. Who owns the property now? What if the old custodian gets taken over by the FDIC or goes out of business, now what?
Here is a webinar I did on some of the many ways that your self directed can go wrong.