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Updated almost 4 years ago,
Finance options for small eclectic portfolio
Thanks for your help in advance.
I have an off market opportunity for a 7 property (9 door) portfolio with a wide range of property values. It runs from a duplex at $165k down to a SFH at $65k. The seller is looking to 1031 with the profits from the sale. I have a current hard money lender but they require a min $100k per property (purchase & rehab) limit which means several of the properties in the portfolio don't meet the criteria. I can portion off some of the properties and go with 15%-20% down loans from a local credit union but looking for ideas for other options/creative financing. 2 asks from this wonderful community:
1) What are some creative solutions you've used in the past in a similar situation?
2) If solution involves multiple simultaneous transactions, will that still enable the seller to 1031 from the profits from the entire portfolio?
Thanks so much for your feedback and experience. Love this community!