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Kirk Chisholm

Wealth Manager, Series 65
Personal Finance, Retirement, Investing
“Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group. His roles at IAG are Co-Chair of the Investment Committee and Head of the Traditional Investment Risk Management Group. His background and areas of focus are portfolio management and investment analysis in both the traditional and alternative investment markets.”

Innovative Advisory Group

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Kirk has been providing wealth management services to individuals, executives, entrepreneurs, and their families, as well as businesses and organizations since 1999. He works with clients to advise them on financial planning, risk management, and portfolio management. He is also an expert at using a self-directed IRA or self-directed 401K to invest in alternative investments. He particularly specializes in alternative investments such as: real estate, precious metals (gold & silver), tax liens, horses, franchises, private company stock, start-ups, intellectual property and more. Kirk is dedicated to developing lasting relationships with all of his clients. 


BA, Economics, Trinity College

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April 2017
    Financial Planning, Real Estate
September 2016
    Real Estate
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    IRAs, Real Estate
How do I set up a self directed IRA to invest in real estate?
100% of people found this answer helpful

Investing in real estate with your IRA is a great way to diversify your investments, especially if you have background experience in real estate investing. As Peter Lynch famously said, "Invest in what you know."

There are many things you will need to consider when setting up and investing in real estate in your self directed IRA.

  1. First, you need to understand the rules. Most people think investing in mutual funds in their IRA is the same as investing in alternative investments. While the rules are the same, the process can be quite different. If you don't understand the rules, you can easily create a prohibited transaction which can cause you to pay penalties and taxes on your IRA. This can easily be avoided by either learning the rules or finding a wealth manager that specializes in this field. 
  2. Second, you will need to find a self-directed IRA custodian. This can be a challenge for most people. There are over 47 different custodians and administrators that specialize in self-directed IRA investing. So how do you choose? If you are going to do it yourself, then should be aware it will take some effort on your part to choose the right one. Each one is different. Each has their own fee schedule, assets they will accept, types of account they will open, customer service levels, etc. If you want to do it right, you will need to ask them a lot of hard questions. Here are some suggestions.
  3. Third, you will need to open and fund an account at this custodian. This will require that you either make a contribution or transfer IRA funds from another existing IRA to fund the account. (please note that IRAs require that your IRA assets be held at a custodian) Some advertisements tell you that you can buy gold and store it in your home... This is not allowed. You should also note that custodians cannot provide financial advice. They will all clearly state that, but for some reason, people take their responses to questions as advice. I have heard of a number of people getting themselves into trouble because they thought it was the custodian's job to provide them with advice. They are custodians, not broker-dealers. It is an important distinction. If you are unclear about this, then please seek the advice of a financial advisor.
  4. Fourth, you will need to complete the transaction. The custodian will work with you to do this. They will be the one signing for the real estate, you cannot do it. Ultimately the IRS will own the real estate, not you personally.
  5. Fifth, you will have ongoing maintenance of the asset (i.e. compliance, valuations, etc)

While this process can seem overwhelming, it is worth the extra effort if you have a good investment in mind. There are some notable people who have grown their IRAs quite large. Mitt Romney has an IRA worth over $100 million dollars. Peter Thiel and Max Levchin also have large IRAs. They created these large IRAs by using creativity and investing in what they know. You can do the same. 


I hope you found this helpful


Kirk Chisholm

Innovative Advisory Group

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Is it better to start SS benefits at 62 or 66?
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