Reverse 1031 Exchange Lender Financing

[Steve Wolterman]

We are trying to facilitate a Reverse 1031 Exchange for a new client who resides in NJ, is under contract to purchase replacement property in NJ, and will be selling relinquished property in TN after the purchase of the replacement property. The client needs 3rd party financing for the purchase of the replacement property. Does anyone know of any lenders in the NJ area (or who will lend to NJ borrower) who might be familiar with lending in a Reverse 1031 Exchange transaction? i.e., the replacement will be purchased by me as EAT (and held in a newly created LLC) and parked until the client sells the relinquished property, at which point 100% of the membership interests of the LLC will be transferred to the client. Thanks!