CheckbookIRA.com vs. Guidant Financial Self-Directed IRA

[dvought 0]

I am converting my IRA into a self-directed IRA with check book control to have more funds available to invest in real estate. I've narrowed it down to two companies - CheckbookIRA.com and Guidant Financial. They will both basically do the same thing in terms of setting up everything for me, and then a custodian will handle the yearly filings/requirements.

 

Does anyone have any feedback on either of these companies? From speaking to the representatives, my gut opinion is that Guidant has more experience and knows what they are doing more than CheckbookIRA.com. (Not to say either would do anything incorrectly, but for example, Checkbook is telling me I can pay for things like training and travel to go to tax lien auctions out of the IRA LLC that is set up, but the Guidant rep is telling me I shouldn't.) CheckbookIRA is $500 cheaper than Guidant for the initial set-up fee, and the yearly custodian fees are about $40 cheaper per year, but I don't want to run afoul of the IRS/DOL regulations and do something to jeapordize the IRA tax status. If I can get Guidant to match their competitors price I will definitely go with them, but that remains to be seen.

 

I've seen some good feedback from a couple of investors related to Guidant, and a local investor I know used CheckbookIRA and hasn't had any problems.

 

Anyone have any feedback, good or bad, about either?

 

Thanks.

Dawn

[MichaelC 160]

Dawn, I have no personal dealings with either company, so I don't have much to add. But you're on the right track by speaking with existing customers and getting their feedback. Do your homework online and you can probably get all the info you need to make an informed decision.