I have come to realize that wholesale has really grabbed my attention and is an aspect i believe i could thrive in.

Understanding their exit strategy—how they plan to pay back the loan—is crucial for minimizing risk.Don’t overlook the property itself.

One of the most important aspects of wholesaling is determining that the seller has the authority to sell the property.

It’s a bit complex, so working with a 1031 exchange expert and a tax advisor is crucial to make sure everything is done correctly.

However, it's crucial to verify with the specific lender, as policies can vary.Regarding recording a lien, if the lien is recorded, it formalizes the debt and provides legal protection for the lender, which might be required by your private lender.

The IRS typically requires the same entity that performed the 1031 exchange to continue owning the property to maintain tax deferral.To avoid any unintended tax consequences, it’s crucial to consult with a 1031 exchange expert or tax advisor before dissolving the LLC or making any distributions.

Also just so you know, they are not Hard Money Lender's they are your joint venture partner in every aspect of the deal.

It seems like landscaping/exterior is a large aspect of this property, so in that case I would put a good chunk of my efforts there

**Home Equity Loan or Line of Credit**: If there's enough equity in your other rental properties, you might be able to tap into that to fund the auction.Act quickly to explore these options, as timing is crucial to secure the deal.

Velocity of money, or speed in which you can complete a BRRRR investment and repeat, is key to success, and refinancing with the shortest seasoning requirements is highly important.Loan terms and interest: Cash flow is also an important consideration for a refinanced rental property, so attaining a low interest rate, as well as other aspects of loan structure (term, amortization, or interest only, etc.), plays a big role.Generally, there are three main refinance options for BRRRR method investors: Conventional loansBank/credit union loansDSCR loansConventional loans are generally defined as loans originated under GSE (Fannie Mae/Freddie Mac) rules and guidelines and securitized.