Well, I’m over a year into my own experience with it. So far super smooth and I would highly recommend a self-directed IRA to those for whom such a thing makes sense.
I wire money into my QRP account once a year (but it could be monthly, or quarterly, it’s just how I do it) and then I decide how to invest it. So far all I’ve done is buy some raw land.
I’m considering other investments now.
Damion’s outfit has been right on top of all the paperwork and filings, have systems setup to make it super easy (such as an on-line questionnaire that leads you through the yearly IRS filing), and are quite active with their prompts and pushes when I need to do something.
A+++ would do again!
I’m getting close to being a year into my eQRP experience with Damion and David and its been great so for. My CPA was very reluctant and she may be a little too conservative, but Damion and David are very knowledgeable about what you can and can’t invest in and which investments make sense to put in a QRP. They also provide services around PM purchases as well as private fund investment opportunities for accredited investors. One such fund is their M&M Fund under Vitruvian Ventures (they use different legal entities for tax purposes) is focused on income from self storage, hedged with metals. Its not easy to find sound income producing investments in the market, but this one is good. Again, the barrier to entry is to qualify as an accredited investor.
Very ethical people that I trust. Highly recommended.
Thanks Chris - I love getting 1st hand feedback. There are several skeptical reviews of the EQRP online, but none of them seem to be 1st hand. (e.g. https://www.biggerpockets.com/forums/51/topics/404427-setting-up-a-eqrp-vs-sdira)
Thanks for the feedback. Similar situation w CPA.
Is this the kind of plan which can also hold cryptos? The IRS is going to start taxing crypto speculators and traders profits soon so a self-directed BTC/IRA seems essential.
Yes - according to the information on their website you can hold crypto as part of your eQRP.
https://www.eqrp.co/eqrp-investments