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How do I pull a "Romney"
Old 02-05-2015, 09:54 PM   #1
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How do I pull a "Romney"

We all know romney self directed roth money to private investments and made a buck or two. What does it take to do that?

I have a private startup im into, i own 2 1/2 percent. I'd rather own that share inside my roth. Negligible cash value, but we are planning a exit in a few years if things go right.

I'd like to "pull a Romney", not sure where to start.


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Old 02-05-2015, 10:04 PM   #2
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Start with a good C.P.A. Self directed IRA's are kind of an odd duck , but do exist. Most are owning real estate , or precious metals directly.You will still need to have a firm as a "custodian" if I understand correctly. I saw a you tube video for a firm "udirect" ira a while back.
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Old 02-06-2015, 01:13 PM   #3
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Read up on "checkbook IRA" accounts… which can use Traditional or ROTH IRA funds to purchase real estate, precious metals, a LOT of options beyond what is normally advertised, that you as the custodian hold in physical custody…


I was recently looking around at custodians. This one told me the "set up" fee for the account and LLC creation was $1399, with an annual fee of $200 in the first year, then $136 in following years.


http://www.irafinancialgroup.com/rothira.php
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Old 02-06-2015, 02:07 PM   #4
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Quote:
Originally Posted by dallas27 View Post
We all know romney self directed roth money to private investments and made a buck or two. What does it take to do that?

I have a private startup im into, i own 2 1/2 percent. I'd rather own that share inside my roth. Negligible cash value, but we are planning a exit in a few years if things go right.

I'd like to "pull a Romney", not sure where to start.


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Schwab offers an alternative investment service typical charge is around $250 setup fee and the annual fee of about the same.

A firm that specializes in this is Alternative Investment Custodial Services with Equity Institutional I've talked to them several times over the years (but ended up sticking with Schwab). Fees are the same or lower than Schwab, I think they are pretty good.

All of these firms require the company provide an annual estimate of the fair market value of the shares, so you'll need to get the CEO/CFOs cooperation before moving the shares to an IRA. I say this because having my startup fund investment in my IRA has been a source of conflict between the fund manager and myself.
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