In today's world of flip that house, change your curb appeal, sell it yourself why not be your own self-directed IRA attorney and do it all yourself? After all, it can't be that hard to create an IRA LLC! Don't worry about how you look in an orange jump suit or if just a social security check is good enough. Let's look at the evidence her are two good reasons why you might consider using a Self-directed IRA advisor.



1) The operating agreement which is one of the key components may not meet the scrutiny of an IRS auditor.

2) DIY means no support.

3) It is a fact that some of the listed custodians will not accept IRA LLCs per their policy.

While in Hollywood all things are easy and simple to do is sound thinking to place your nest egg in the hands of a website that has no identity disclosure and has a third party complete all of the fulfillment. And why is that a problem? There is no due diligence on the part of the producer they assume the address the product is being sent to is the state the LLC should be organized in. So if you were temporarily in Texas but lived in Nevada ordered the kit while in Texas you would receive a Nevada product. That is exactly what happened when I bought one.

So now you have the wrong State and the wrong documents. Let's say you needed to make a change in procedure or wanted to name a contingency manager to your LLC, who do you call? No one, there is no contact info. Go to your local attorney? Maybe, if they can wrap their head around what the product is suppose to do and the proper procedure and timing of such changes. And you have violated your cost savings objective by seeking out professional help.

How about ongoing support? If the producer is not willing to provide a phone number or other contact information then how do you keep up with tax code changes?

I read a blog entry the other day in one of the large investor blogs about an investor who did not want to pay our price nor that of our competitor. So he did some research and explained to his investment club what he had discovered and some of the information was right and some was wrong. He received slaps on the back for unearthing information and saving himself a few dollars. It seems to me that he could have much better spent that time finding an asset to invest in, something he was proficient at rather than sharing half correct information that may eventually come back to bite him and his friends who decided he was the next investment procedural sage.