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Updated over 1 year ago, 08/03/2023

User Stats

35
Posts
9
Votes
Paul O'Connor
9
Votes |
35
Posts

Need a DSCR and/or Commercial Lender (LOOKING TO AVOID HARD MONEY/PRIVATE LENDER)

Paul O'Connor
Posted

I'm currently in need of a commercial lender to help me with a 1031 exchange that I'm trying to complete. I'm currently narrowing down my potential properties to use for the 1031 exchange with purchase prices between $800,000 - $1,100,000. I'll have 20%-25%+ down payment for the loan. List is narrowed to 5 different markets, all of the properties are at least 8 units. Now sure what the best method is to use, whether to find a local lender/bank/mortgage broker or credit union... or to find a nationwide lender (bank), which I've had difficulty finding. Looking for help finding a lender or any advice that you could give me. Trying to get a pre-approval ASAP, so I can submit my offer(s).

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