Guidant Financial Group and IRA Checkbook Control - Posted by Larry

Posted by Dannielle on July 03, 2004 at 06:03:26:

I’ve been looking into Equity Trust Company. My question is what kinds of deals can you do beyond just rehabs? Can your IRA take on a Sub2 deal? What other options are available? I just don’t have enough funds now to purchase a property outright. Maybe I’m missing something. Thanks for sharing your experiences with them.

Guidant Financial Group and IRA Checkbook Control - Posted by Larry

Posted by Larry on July 01, 2004 at 07:51:09:

I have been reseaching how to set up a Nontraditional Self-Directed IRA through which I can use my IRA to fund real estate investments.
I have found many companies online that can set these type of accounts up and act as the required custodian. However, almost all of them require that all actions flow and/or be approved by them and they make the disbursment of funds from the IRA, etc. And, of course there are fees for every action processed.
However, I have found and been in contact with the Guidant Financial Group, Inc. that does the legal work to establish a “customized LLC”. Through this LLC, I as the manager can actually have "checkbook control of my IRA funds through a checking account established for the LLC. As part of this process, the Custodian (who is still the legal IRS custodian) actually moves all or part, as I specify, of the IRA funds down to this LLC’s checking account. Therefore, as the owner and manager, in the name of the LLC doing business in Ohio can actually make transactions such as buy real estate, collecting rent, making minor repairs and maintenance, making major capital improvements (although these have to be contracted out and can not be done by me), etc. etc.
Guidant of course provides the legal set-up process…of course for an up front fee and gets the IRA set up with the Custodian. The Custodian has the current IRA funds rolled over to my new IRA and transfers all or part of the funds down to the LLC business checking account that is set up.
Of course, I as the owner and manager of the LLC must abide and follow all the requirements of the IRC code such as disqualified transaction, persons, etc. etc.
Has anyone else out there done business with Guidant or any other company like them?
Is anyone out there currently using this business method?

Thanks in advance.

Larry in Ohio

Re: Guidant Financial Group - Posted by Eduardo Pietri

Posted by Eduardo Pietri on December 21, 2004 at 09:27:58:

Larry, did you sign up with Guidant? How was the experience? Are you satisfied with their service?

I am planning on setting up their Entrepreneur Pension. Works the same way, except that I have a C-Corp already set up. They will give me a little credit to compensate for the work I already did. They may have to write up a couple of resolutions to record the setting up of the 401(k) plan. I expect them to also take care of all the documentation and process required for the C-Corp to issue a Qualified Employer Security and for the 401(k) Plan to purchase it.

I think this set up is superior to what other companies offer, given that the funds end up inside of your corporation and you use however the company chooses to.

Eduardo

Re: Guidant - Posted by Richard Groh

Posted by Richard Groh on July 26, 2004 at 18:28:37:

Hi Larry,
I’ve sent for a description of Guidant’s Affiliate Program. Hopefully, that will give us more of an inside view of how they work.

– R. G.

Re: Guidant Financial Group - Posted by Doug

Posted by Doug on July 04, 2004 at 03:13:51:

They are great! Their process is much easier then when I was with Entrust and they are much cheaper overall!! Their support system is second to none.

Re: IRA Checkbook Control - Posted by Verve

Posted by Verve on July 01, 2004 at 09:26:28:

Larry,

I use Equity Trust Company to process all my transactions and frankly have been really pleased.

They don’t charge fees for every transaction, although if you need a check overnighted or processed the next day there is an additional charge for that.

For the most part, there is a yearly fee based on the size of your account, and small miscellaneous fees (like when you have funds wired into your account)

It’s all peanuts, as far as I’m concerned. Once I understood the process, running my transactions through my Self Directed Roth IRA through ETC has been a breeze.

It’s nice to be able to write checks on the fly, but I have found it to be just as easy when ETC disburses the check. There is a check request form that you use…you fill out the vendor who the check is written to, the amount, and fax off the form to ETC. Takes 15 seconds. There isn’t any review they go through…they merely send it off and 6 days later the check is the mailbox. Most of my projects don’t require a lot of check requests.

I have my contractor purchase materials and provide receipts. If I figure I have a project that’s gonna require 30K, I’ll request several small denomination checks (I’ll request a few $1,000.00 dollar checks, a few $2,000.00 checks, and a few $4,000.00 checks) and disburse them along the way.

It’s all worked pretty flawlessly so far.

If you go with Guidant and their service, please share your experience here. I’d love to hear more about it.

Best of luck…

Re: Guidant Financial Group - Posted by Chuck Rosenberg

Posted by Chuck Rosenberg on September 05, 2005 at 06:25:34:

wire wine rack wine storage racks monthly wine delivery commercial retail wine racks custom wine rack napa valley wine tours carneros wine wall wine rack membrane wine press engraved wine glass

Re: Guidant Financial Group - Posted by jim(nc)

Posted by jim(nc) on July 17, 2004 at 17:58:38:

Do you have real checkbook control or must you get them to issue every check?

alltel ringtones - Posted by alltel ringtones

Posted by alltel ringtones on September 21, 2005 at 10:27:15:

free wav ringtones family guy ringtones free ringtones verizon wireless free ringtones alltel phones free i285 ringtones alias ringtone kottonmouth kings ringtones free cingular ringtones verizon free ringtones kingdom hearts ringtones

Re: IRA Checkbook Control - Posted by Christeen Moore

Posted by Christeen Moore on November 22, 2004 at 09:07:47:

Mad, adj.:
Affected with a high degree of intellectual independence …
– Ambrose Bierce, "The Devil’s Dictionary"
soma cheap somaA comment on schedules:
Ok, how long will it take?
For each manager involved in initial meetings add one month.
For each manager who says “data flow analysis” add another month.
For each unique end-user type add one month.
For each unknown software package to be employed add two months.
For each unknown hardware device add two months.
For each 100 miles between developer and installation add one month.
For each type of communication channel add one month.
If an IBM mainframe shop is involved and you are working on a non-IBM
system add 6 months.
If an IBM mainframe shop is involved and you are working on an IBM
system add 9 months.
Round up to the nearest half-year.
–Brad Sherman
By the way, ALL software projects are done by iterative prototyping.
Some companies call their prototypes “releases”, that’s all.
buy soma order soma onlineWhen you were born, a big chance was taken for you.