What is a Self-Directed IRA?
A Self-Directed IRA (SDIRA) is a type of individual retirement account that allows you to invest in alternative assets, with the same tax advantages as a standard IRA.
Why haven’t I heard of a Self-Directed IRA before?
The mainstream brokerage firms tend to limit the investment choices their IRAs offer to Wall Street products such as stocks, bonds, and mutual funds.
Can I invest in RealtyMogul through my current IRA or 401(k)?
Unfortunately, you cannot. As explained above, mainstream brokerage firms do not hold alternative investments, like RealtyMogul. You will therefore need to open a Self-Directed IRA to invest in offerings on the RealtyMogul Platform.
What are the fees to invest in RealtyMogul?
There is a $795 setup fee for your IRA Trust followed by a discounted, quarterly maintenance fee of $90.
How long does the process take?
The process (from account setup to placing your investment) typically takes anywhere from one to three weeks. The main variable is how long it takes your current IRA/401(k) custodian to send us your retirement funds.
I recently moved my self-directed IRA from a firm in Kentucky to Madison Trust. Talk about night and day! It was easy to set up my account and the process of transferring funds from Kentucky was easy. After the funds were received, I wanted to make two quick investments in real estate partnerships. At the old firm, I think it would have taken 2-3 weeks. It was all accomplished at Madison Trust in 2-3 days! Jennifer L was a great help as were all members of the team.
Madison Trust is that rare company where customer service is alive and well. No endless phone menus just to be routed to a call center somewhere overseas. Instead, your calls are answered by associates who have great communications skills and who really know their stuff! They are quick to answer any questions you may have and will make sure you are satisfied by the end of your call.
It really is a pleasure to do business with this company.
Madison Trust has been great to work with. They’ve been responsive, helpful and I can actually talk to a real person when I need to. So refreshing these days.
Everything from customer service to setting up my account to getting my money was A+.
I would highly recommend doing business with them.