1031 Accommodator Utah SFR Paper + Up to 150k Cash to Exchange

[Chris Watkins]

I have a 196k Note + 50k cash with a 1031 accomodator. I seller financed the collateral property to a solid buyer who put about 25% down payment ($63k!) earlier this month (July 2017) - so only 1 payment has been made by buyer so far. Very little seasoning but strong collateral. I'm looking to do a 1031 exchange it into another opportunity. I am not area bound but I live in Utah. I can add an additional 100k or more cash for the right deal. There is an underlying mortgage of 147k on the seller financed note - how we deal with that is negotiable. 

Monthly net cashflow on the note is $331 (seller financed note pmt minus underlying mortgage pmt). Balloon term of the note is 2 years with prepayment penalty of 5k before then. True note yield is 8.26%. The A+ collateral is a completely rehabbed 4 bed 1.75 bath single family residence in West Jordan UT just a few blocks from a HUGE shopping center and right off of Bangerter Highway making it just a 10 min drive to the Salt Lake City Airport. 

About the buyer: This buyer was hoping to pay off the note within a few months but I didn't want to incur more tax so I put a 2 yr prepayment penalty on it (which you could opt to waive). The balloon term of the seller financing is 2 years (July 2019). 

Essentially, I'm looking to exchange this note and cash (with possibly more cash as boot) to another opportunity. I do rehab, fix up, and solve problems. I'm young, mobile and active.