5 Habits of Great Personal Service for Real Estate IRA Investors

Have you ever called client services only to be transferred from one department to another, wait through blaring music, and ultimately never receive a satisfying answer? We have too. That’s why it’s The Entrust Group’s goal to provide such extraordinary service that you won’t dread calling us for answers, and will feel a sense of achievement after our conversation.

We’ve developed five practices to demonstrate that we are on your side. Let’s take Olivia, for example.  

1. We listen to your questions.

Olivia calls to ask whether she can buy a single-family house with her IRA so the proceeds can help her grow her retirement savings, then pay for necessary repairs with non-IRA funds. In order for us to fully understand Olivia’s question, our experienced staff member first listens carefully to her entire story before responding.

2. We respect that you have needs unique to you.

Because everyone’s situation is different, gathering further information to fully understand Olivia’s situation helps us determine how we can best help. Once we’ve listened to Olivia, we can personalize any follow-up questions. We might ask about her investment strategy and how she will fund the purchase: direct purchase, partnering, or another acceptable transaction. She does not plan to partner her IRA to purchase the house.

3. We understand your specific needs.

Once the IRA buys the property, closes escrow, and takes titles to the house, Olivia is considered a disqualified person. It is our responsibility to know self-directed IRA rules to be able to inform her of any potential prohibited transactions. In this case, as a disqualified person, she is prohibited from conducting certain transactions with the investment such as paying the IRA expenses out of pocket.

4. We respond in an appropriate, professional manner.

Since Olivia is a disqualified person, she cannot use her personal funds at a later date for any repairs to the house. Only funds held in the IRA can pay for repairs to the investment property held by the IRA. With this explanation, we also tell Olivia about The Entrust Group’s Learning Center so that she can learn more about investing in real estate using her IRA, in case she has any more questions. It is our goal to provide education and resources to new and current investors so that you can feel self-reliant and confident.

5. We serve you in an individually tailored approach.

We offer Olivia a convenient and affordable way to make transactions using her IRA funds to pay for IRA expenses. The Entrust Group has a product called the myDirection Visa® Prepaid Card which is a prepaid credit card that can be funded using her IRA assets. This will allow her to withdraw funds directly from her IRA to pay for IRA expenses, such as the contractor she hires to repair a leaky roof, and other such expenses. This way she does not have to request and wait for a check from us for every transaction. As long as the expenses paid from the prepaid card are expenses incurred by the IRA investment, the amounts drawn are not taxable. 

As an administrator of self-directed IRAs, The Entrust Group cannot give advice on your investments, but our trained staff can offer general information as well as direct you to resources that can help you make an informed decisions. We strive to help administer your investments in a cost effective, expedited manner with less hassle. To serve you with the best experience along the way we commit to providing great communication. Tell us the questions you have about your retirement plan and we will help you understand self-directed IRAs. This is how we build trust for lasting relationships. Contact us for a free consultation today so you can experience our great personal service for yourself.