IRAs; Self Directed

[JoeMoney]

I recently attended a seminar on Self Directed IRAs. The concept seemed sound. Does anyone have any experience with them? i am interested in setting some up for my children to make up for lost time. I would use it for real estate investing.
Thanks
Joe

[JBinKC]

I looked into trustees that handle IRAs with real estate and tax lien certificates assets and I thought the fee schedule was rather steep and that dissuaded me to move forward especially with my intended land purchase. Most of them offer a flat fee plus a graduated percentage scale based upon the asset value of the property. Unless the property you intend to acquire has a revenue stream I would likely pass on it.

[Taribor]

I use a self-directed roth because I like to buy individual stocks. I closely looked at investing in real estate, and still may, but I HIGHLY recommend you get professional advice (i.e. accountant) before doing so as if ANY portion of the investment is used for personal use or comingled, you are big-time hosed....as in the IRA status goes away.

As far as fee's, I only pay for the trades when I buy/sell a stock (unless I buy a mutual fund, then standard fees apply). I have a ROTH, which is perfect for a self-directed IRA as you don't have to worry about capital gains. With the market going sideways the past few months, I've made some nice gains already without worrying about taxes.