I own 3 properties all + cash flow but cant get a 4th loan, help!

[Bryan Findlay]

(LENDER SAYS I CANNOT GET THE LOANS I NEED THAT WOULD STEM FROM A 1031 EXCHANGE. I MUST HAVE A JOB HE SAYS BUT I HAVE $.

I want to 1031 exchange my CA rental home which if sold would put me about $180K profit to re-invest in Idaho. I don’t want to sale straight up for tax purposes. I told my Lender I wanted to re-invest the 180K into Idaho (1031 exchange) by putting down $70,000 down each on (2)RENTALS IN THE 245,000K range which is sufficient to cash flow day #1 in my area. I wanted the remaining $40,000 for something cheaper that I can turn into a flip, but I am not sure 1031 allows for a flip home upon the properties you identify. IF this is the case, I’d still use this 40K towards another rental if the deal was right. So a total of 3 rentals off my 1 CA property exchange.

My credit is 770,. 75K in savings, + cash flow on both rentals OF $950 + $1043 monthly for life. My wife works part time and brings in a little money in but nothing much and has perfect credit as well. Are only debt (besides mortgage) is a car payment where it’s $455 monthly or total payoff is $14,000.

My lender who helped me get two loans in Idaho and a loan for my primary/rental said, I won’t be able to get more loans like I want without a job (injured off duty/career ending) despite my situation that would show i'd be cash flowing day 1 if the loans were honored.  All my homes have some equity and cash flow. 

If I got the 1031 exchange i'd want ID/pick 3 properties to split up the 180K and remaining a loan. I'd plan to put 70,000 on a 245,000 home X2 and the remaining 40,000 into a lower priced home. With my market and putting that amount down payment, i'd be confident to say i'd cash flow around$ 500 to $1000 between them once rented.

I DONT want to sell the CA home straight up, i'd be taxed to hell and plus doing a 1031 exchange allows me positive 180000 reinvest and that goes far in Idaho. This home in CA i have 2-bedroom, 1.5 bath will go for $330K and i'd leave with positive 180K or that much to-reinvest in Idaho which will go much further..

Please can someone help me get these loans or help me find a way. I feel like I am stuck but also feel with my credit, asset, savings, should play a role to decide if i can get the loans?.  Is it worth me trying another lender? of will the answer all be the same?

I know there are what if's, buts, and all that; but you understand what i'm trying to do hopefully and anyone creative or has a way for me to do this let me know. Thanks so much for reading all this!

[Jonathan R McLaughlin]

what kind of mortgages are you talking about? Are you talking conventional/conforming 30 year notes? 

try commercial notes (from Idaho bank that knows the area)?

Up the down payment on the 1031exchanges if you have to...at some ratio it will work for someone