I looked into Mid-Ohio as well but found Entrust to better to deal with. This is just a personal opinion, but the information and attention I received from Hugh Bromma and Debra Greenstein was outstanding. Their company can be accessed at the top of this page. Hugh Bromma works closely with people here at this site and is familiar with terms such as “Lonnie Deals.” It saves a lot of time when you do not have to explain how such things work. The list of investment options is too long to mention here but it includes real estate, real estate paper, notes and mobile home notes. Take a look at their site or give them a call at (800) 392-9653.
Does anyone know of a GOOD trustee/custodian for self-directed IRAs that allows real estate and related instruments to be held? Any knowledge of Mid-Ohio Securities who does this? I was burned a couple years ago by the trustee (First Pension) of my self-directed IRA trust where the principles committed fraud, stealing my and a lot of other people’s money – so would like to NOT repeat this experience. I haven’t found any good way to confirm the “quality” of the trustee/custodian. Would appreciate any help/experience.
The drawback of Security Trust is that you can only buy real property in California, however, you can write a mortgage to anyone, anywhere in the country. I feel their advantage is the company’s size and that they are a “Trust” company. My funds are held separately from working capital. If they are sued, My money is safe. They are also bonded. They walked me through my first transaction and held my hand all the way. I can also access my account on line.
I have chosen Security Trust in California. They are a subsidiary of Chicago Trust and our money is held in a separate trust account, unlike the Ohio company. You can find their link here on this site. You can make a mortgage with your IRA, but you cannot purchase property with this company. I feel they offer more security for our money, though.
