All Forum Posts by: Montgomery Dennis Yurchison

I am looking for advice on how I can secure short term (approx. 6 weeks) funding for multi-family rental property investments down payments. I will be closing on the sale of my rental property this March and am planning on executing a 1031 Exchange. I am looking for advice as to how I can obtain funding for down payments on properties I wish to purchase during period prior to the closing on the sale of my rental property so as to get ahead of my 45 day identification period, after the closing, required to satisfy the condition of the 1031 exchange. Your thoughts and advice is appreciated.

I am looking for advice on how I can secure short term (approx. 6 weeks) funding for multi-family rental property investments down payments.  I will be closing on the sale of my rental property this March and am planning on executing a 1031 Exchange.  I am looking for advice as to how I can obtain funding for down payments on properties I wish to purchase during period prior to the closing on the sale of my rental property so as to get ahead of my 45 day identification period, after the closing, required to satisfy the condition of the 1031 exchange.  Your thoughts and advice is appreciated.

Thank you all for your advice, recommendations and information.  Most of it has been focused on my search in New York State but I am also very interested in the Florida Gold Coast (Ft Lauderdale, Boyton Beach, Lake Worth, Palm Beach, Port St Lucie, etc.).  Florida is a bigger challenge for me because I am not as familiar with the neighborhoods or rental opportunities in Florida as I am with New York.  I do own a private residence in Palm Beach county and plan on changing my primary residence to Florida within the next year so to me it makes sense to seriously put Florida in play.  Any recommendations or assistance in my quest to finding and funding investment rental properties in Florida is very much appreciated.

I am new at this! I am primarily looking at residential multi-families (2 - 4 units) but I am open to considering multi-families up to 8 units. I am not interested in commercial rental properties for businesses. My objective to to develop a portfolio of multi-family units that will supplement me in retirement (within 3 - 5 years) so Cash over Cash return is key for me. I will carry debt so as to create a rental investment portfolio with as many units as possible> I wish to decrease my risk exposure due to unit vacancies. I am looking within stable blue collar neighborhoods where the rents can be reasonable. I am open to considering BRRRR but prefer that that the rehab is primarily cosmetic, versus structural. I am undecided if I want to have, or how much to have of, seasonal Airbnb units.

I am currently in contract to sell my rental property in NYC and live in Saratoga County, New York and Palm Beach County, Florida.  I am considering a 1031 exchange and therefore considering purchasing multi-family rental property(s) that are local to me in New York (Albany, Troy, Watervliet, Cohoes or Saratoga areas) or Florida (Palm Beach, Fort Lauderdale, etc.) and  I am looking for advice or reference material that will assist me in making an informed decision on pursuing multi-family rental investment property in these areas.