Need guidance on using a self directed IRA for RE down payments

[Wayne Connell]

My wife and I have a retirement account we rolled over into a self directed IRA to use for down payments on two projects. One is a purchase of a small storage unit facility and the other is building a four plex. We would use about 15% of the purchase price from the IRA to purchase the storage units and the remainder of the purchase is going to be owner financed. On the build we will use about 30 to 35 percent of the build cost from the IRA and the remainder will be bank financed. Both will be non-recourse loans. While I am familiar with the pros and cons of using a self directed IRA and how they basically work, as well as some of the unique requirements when utilizing one, I am far from educated about the finer points.

The main issue I am having is I have the storage units under contract and I am trying to make a request for funds. However, the company I have the self directed IRA with says they cannot give me financial advice and I have checked with my attorney, financial advisor, and my CPA and none are very familiar with the self directed IRA. My CPA is willing to try to help getting it set up but is researching the procedures. Does anyone have any advice or guidance about how or what I need to do to ensure this is structured properly or can put me in touch with someone who can educate me. Thanks in advance!