A Checkbook IRA from Sense Financial Services is a very cost effective and time efficient investment vehicle available to self-directed IRA investors.
This investment vehicle is a popular choice for gaining “checkbook control” of an IRA. Here’s how the process goes. First, an IRA is opened and funded at a custodian. A Special Purpose Limited Liability Company (LLC) is then created, and the account owner directs the custodian to fund the LLC, which is managed by the IRA account holder. As a result, you get a legal structure allowing you (the account holder) to make transactions at the LLC level without involving the custodian. The Checkbook IRA method is used to cut down on any wasted time in signing contracts and checks, and it also allows the IRA to not be subjected to transaction-based fees from the custodian.
Checkbook IRA Reviews
Once of our clients, Vince R., resident of San Diego in Southern California, contacted us few months ago. His retirement account was loosing money in a stock market and he wanted to stop that and take control over it. After consulting with Vince, we established a Checkbook IRA, giving him the ability to use his retirement account for Real Estate and other non traditional investments. He ended up purchasing single family rental home in Atlanta and now enjoying cash flow of about $550/mo that is flowing back into his IRA. He is very excited because his retirement account is growing every single month!
Sense Financial is the leading provider of retirement accounts with “Checkbook Control”: Solo 401k and Checkbook IRA. Over the years we assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval!