SDIRA Checkbook Control vs. Custodial Accounts: Fast-Tracking Deals with Travis Rhodes

You know, you're a very humble guy.

We got to get you to sell better about your service because

it's

it's a here's the thing.

I only I bring this up because if you ever used a self-directed IRA to invest your own IRA, I can speak from experience and the debts in my skull from banging my head against the wall, having to deal with somebody on the other line.

Not in a timely fashion.

Look, it's great if you folks have a self-directed IRA there, but if you just got it with a custodian trustee, you're going to first have to fill out a directional investment form.

And those aren't always understandable.

If you're buying a note, you've got to send a copy of the note.

You've got to send a copy of the paperwork, all that stuff there for you.

Wait for them to process it.

Get around to it.

Usually they say 48 hours, but I've seen it take an average of seven days to three weeks in some cases to get them to sign off.

And in some cases... they've even actually asked me to commit fraud by sending over a copy of a signed a launch or assignment a mortgage when the funds have been wired out yet which basically no bank or lender is going to send out an assignment a mortgage that transfers ownership without being paid first and i've had several companies oh no we got to have this before we'll prove i said well they're not going to send this to you to the wires well we can't wire the funds like you're acting on my behalf so i've had deals die And other lenders, oh, you're funders with that company or those companies? No, no, no.

We'll go to a different buyer because we know your funding is going to take, instead of taking a couple days or 24 to 48 business day hours, instead of taking three to four weeks.

I only say that for a minute.

It's nothing more frustrating when you get a hold of somebody and then you've got to call back and where is everything at? Oh, that's why I love what you guys do.

You set it up.

Now you have checkbook access or online access.

We can go wire the money from the LLC directly to the bank or the seller or the title company and not have to jump through all those hoops to get shit done.

Right? Am I correct in this?

Yeah, you are correct.

And then even with checkbook control, Safeguard is owned by Solera National Bank, which also acts as a custodian.

So even if you do go checkbook control, you're still dealing with the provider, custodian, bank.

With us, it's all under one roof.

You know, you're a very humble guy.

We got to get you to sell better about your service because

it's

it's a here's the thing.

I only I bring this up because if you ever used a self-directed IRA to invest your own IRA, I can speak from experience and the debts in my skull from banging my head against the wall, having to deal with somebody on the other line.

Not in a timely fashion.

Look, it's great if you folks have a self-directed IRA there, but if you just got it with a custodian trustee, you're going to first have to fill out a directional investment form.

And those aren't always understandable.

If you're buying a note, you've got to send a copy of the note.

You've got to send a copy of the paperwork, all that stuff there for you.

Wait for them to process it.

Get around to it.

Usually they say 48 hours, but I've seen it take an average of seven days to three weeks in some cases to get them to sign off.

And in some cases... they've even actually asked me to commit fraud by sending over a copy of a signed a launch or assignment a mortgage when the funds have been wired out yet which basically no bank or lender is going to send out an assignment a mortgage that transfers ownership without being paid first and i've had several companies oh no we got to have this before we'll prove i said well they're not going to send this to you to the wires well we can't wire the funds like you're acting on my behalf so i've had deals die And other lenders, oh, you're funders with that company or those companies? No, no, no.

We'll go to a different buyer because we know your funding is going to take, instead of taking a couple days or 24 to 48 business day hours, instead of taking three to four weeks.

I only say that for a minute.

It's nothing more frustrating when you get a hold of somebody and then you've got to call back and where is everything at? Oh, that's why I love what you guys do.

You set it up.

Now you have checkbook access or online access.

We can go wire the money from the LLC directly to the bank or the seller or the title company and not have to jump through all those hoops to get shit done.

Right? Am I correct in this?

Yeah, you are correct.

And then even with checkbook control, Safeguard is owned by Solera National Bank, which also acts as a custodian.

So even if you do go checkbook control, you're still dealing with the provider, custodian, bank.

With us, it's all under one roof.