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Updated almost 2 years ago on . Most recent reply
Can I 1031 with a DSCR Loan?
I'm selling a property held in a single entity LLC and want to 1031 into a vacation rental. I am looking at DSCR loans for the new property but not sure what kind of loans are allowed in a 1031. Is seller finance allowed in a 1031? I also heard if the property is held in an LLC you have to use a commercial loan to buy the next property but that doesn't sound correct to me.
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Dave Foster
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Dave Foster
#1 1031 Exchanges Contributor
Tax & Financial Services
Pro Member
#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Lisa Roberts, With a 1031 any type of loan will work. The IRS does not care. As long as you're not getting a primary residence loan so that you're telling the lender you'll live there. But telling the IRS you'll be using it for investment.
- Dave Foster
The 1031 Investor
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