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Updated almost 8 years ago, 01/29/2017

User Stats

68
Posts
18
Votes
Michael Bettencourt
  • Investor
  • Highland Park, IL
18
Votes |
68
Posts

Broker and financing help!

Michael Bettencourt
  • Investor
  • Highland Park, IL
Posted
I'm about to have a house on the market for $450k with $175k in equity and plan on doing a 1031 exchange. The difficulty is I move from CA to Chicago in June (active duty Navy). I am looking for a 4+ unit with and 8 cap+ that is near turn key. So I am looking at several states to find the right investment. Two Questions: 1. How to find a commercial Broker? I haven't found anyone on board to search the whole South and Midwest. Do I need to find a broker in each state or narrow down my search? 2. Financing? I talked to a local bank and they told me they may not be able to finance me depending on the location of the property. Should I use the sellers preference? Will a big bank be able to finance in every state? Thanks for the help!!

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