Who’s Got Your Back?

A large number of prospective clients in the last few months have mentioned how difficult it is to find someone who can adequately answer their questions regarding the CheckBook IRA structure. If they try to lay out a possible transaction, or ask for some guidance on how to structure a deal, all they get is a sales-pitch.

I received a call last night from a retired labor lawyer in Florida. Being a lawyer, he was particularly interested in the legal narrative of the structure, so I spent over an hour answering his questions. He told me he had called several other companies, and had not been able to find anyone who could adequately go through the legal history of the CheckBook IRA.

He said he’d been put in touch with salesmen when talking to other companies, and it seemed as if they had a 3×5 card in front of them with a sales pitch and a few facts. When he asked questions regarding certain transactions or State LLC requirements, he was met with “Well, we’ll have to get back to you on that one”, or “I’ll have to put you in touch with X, our in house guru. When can I schedule a call between you two?”. Near the end of our conversation, this gentleman said “Of all the companies I’ve called, you guys are the only ones who know what the heck you’re talking about.”

This post is not meant as a pat on the back, so much as it is a warning to those who are toying with the idea of setting up a CheckBook IRA LLC. While the legality of this structure has been set in stone for nearly 16 years, there are rules that must be followed, and when you’re doing the research you must be sure that you are talking with someone who can answer your questions knowledgeably and honestly; not only before the setup, but afterwards as well. The last thing you want is someone who just wants to put another notch in their sale belt.

We have no salesmen here, at CheckBook IRA. When you call, you will talk to me or my father. Between the two of us, we have nearly 20 years of experience using the CheckBook IRA LLC structure with our own money. Throw in the thousands upon thousands of people we have talked to, all of our clients spread out all over the US and the world, and the tens of thousands of transactions we’ve reviewed over the years, and its safe to say we’ve seen pretty much everything there is to see when it comes to the IRA LLC structure.

Our job is to educate you; to explain the concept, how it works, how it is set up. To answer any questions relating to investments you might have in mind, and to answer them honestly.

Beyond that, our job is also to be here for you after we set you up. As you begin to use this structure, you will have questions. Questions about whether or not a transaction is prohibited, questions about annual filings, questions about how best to structure a deal so that it isn’t taxable, etc…

When those questions pop up (and they will), you’d better make sure you have access to someone who can give you clear guidance on what needs to be done and how.

So, if you want to speak with someone who actually knows what the heck they’re talking about, give us a call.

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