If you ask to invest in an alternative asset like real estate at your typical brokerage, they may refuse to hold the investment or charge you exorbitant fees to do so. A Self-Directed Checkbook IRA lets you invest in almost any alternative asset in real time by simply writing a check or sending a wire from your designated checking account.

When many people ask, "what is a Checkbook IRA"? they're often picturing a physical checkbook and wondering how it's involved. In order to have checkbook control, you must create either an LLC or Trust and a designated checking account, which gives you the power to invest in the asset of your choice in real time. A physical checkbook is not necessary, but is an easy way to send money from your IRA LLC or IRA Trust checking account. If you do not have a physical checkbook, you can also select to wire funds.