Looking for loan options for a 1031 exchange but will retire

[Norman Lee]

I have an investment property (SFR) in California in the San Francisco Bay Area which I want to do a 1031 exchange on an out of state multi unit property however I will be "retiring" (done with the corporate rat race) in 2 months and will not have any W-2 income anymore. Property should sell for $1.4M and my current remaining loan balance is $345k. Given my "unemployed" situation, even though I would be able to put down a significant down payment from the 1031 I don't think I would be able to qualify for conventional financing for the $345k loan for the exchanged property, so I'm interested to see what my next step should be for financing. At the same time, I'm interested in finding the next property for $1.4M or less. I'm not opposed to paying some capital gains tax on the boot.

[John Warren]

@Norman Lee make sure you are talking to a great lender. There can still be ways to get get a traditional loan even if you have no W-2. I am looping in my guy @Joshua Jones on this one. 

Also, make sure you connect with a great intermediary to help with the exchange. I use @Lauren Speidel for all of my 1031's.