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If you do not have a self-directed IRA yet, the way that you can obtain one has changed in last few years. You do not have to meet in person with a financial institution to open this type of IRA for real estate investing. You now have the ability to open an account online. There are both good and bad companies that offer self-directed IRAs and knowing where to find a good company online can save you the delays and hassles normally experienced when opening these accounts in person.
Benefits of a Self-Directed IRA
You might be unaware of some of the benefits that you have when you open a self-directed IRA The biggest advantage is the ability to own real estate with your IRA. Unlike an employer sponsored plan, you control the way that your retirement funds are invested with a self-directed IRA. You are free to buy and sell real estate and you are not limited to rental properties. You can own vacation homes, condominiums, raw land or commercial properties. Having the majority of control over the way that your investments are made will help you to maximize your profit potential.
Best Places to Open a Self-Directed IRA Online
Opening these accounts is very similar to opening a standard checking or savings account. Basic financial information is required and in most cases a PDF application is provided for download. A hardcopy application that is signed with your signature will be required since you appoint control of the fiduciary duty of the account to the appointed trustee that opens your account. These forms can be faxed with any additional information requested and your account can be opened quickly to get you started making investments.
Self-Directed IRA Companies Online:
1. Sterling Trust
As a Better Business Bureau accredited business, Sterling Trust is one of the leaders in Self-Direct IRAs online. A helpful customer service staff can get your account set up fast.
2. Equity Trust Company
The Equity Trust website is very informative and will help answer any questions that you have about a self-directed IRA. A live chat system provides fast assistance to you before and after your account is created.
3. uDirect IRA
A staff of financial professionals can assist you with opening your account and provide advice to help you start investing your retirement funds to grow your portfolio.
4. Capital One
As one of the largest banks in the U.S., Capital One offers one of the safest ways to open a self-directed IRA online. Your secure account is created quickly and your personal information is highly protected.
Advice for Opening a Self-Directed IRA Online
It never hurts to get a second opinion when researching a company or get a referral from a friend or acquaintance. Making the right decisions in the beginning can save you from problems after your account begins to diversify with investments. It is important to know the termination process at each company before you open your account.