All Forum Posts by: Becky Kromminga

@Craig Parsons

A lender is not going to completely guarantee they will fund if the value comes back because there are always unforeseen complications that could arise such as title issues.  However, they should be able to give you a good faith estimate that includes all of the fees and charges.  At that point they should be committing to funding your loan if the value comes back as needed and there are no other issues.

If your other funding doesn't go through, please DM me and I can help.

I would do a cash-out refi on some of the properties that you want to keep first.  You can get up to 75% of the value, but you can get a lower interest rate if you only take out 50 or 60% of the value.  That will give you some cash you won't miss out on any new opportunities.

A 1031 exchange is definitely possible, but you have to make sure to get the timing right since you only have 45 days to identify your next property (or better yet, 3 options for your next property).  If your CPA firm is not experienced in them, I would look for a company that specializes in 1031.