Has anyone ever done this? In the process of one, but having trouble finding a lender willing to finance the way needed. Specifically most have a problem with a portfolio loan and title to an LLC with me as a guarantor.

This obviously gets done but just looking for a bank that has experience in these type of transactions. I have a 1031 intermediary but they are slow to respond and getting close to some contract deadlines so trying other sources.

Try Capital Concepts in Houston. Ask for Sean Riley, tell him I sent you.

I believe he's done these before.

I thought some of the larger lenders (Rocket, JPMC etc.) do 1031's.

If you have anyone from AmericanCapital nearby/In-StateI, I think they handle 1031's as well.

Year of the Germaphobe said:

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I thought some of the larger lenders (Rocket, JPMC etc.) do 1031's.

If you have anyone from AmericanCapital nearby/In-StateI, I think they handle 1031's as well.

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I think he's trying to find someone to finance the purchase and then pay off the loan once his relinquished property sells. He already has a 1031 intermediary.

we make bridge loans vesting in a LLC and can close quick on the bridge/portfolio deals in most cases. My screen name is my email. Happy to see what we can do for you.

DeepintheHeart06 said:

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Has anyone ever done this? In the process of one, but having trouble finding a lender willing to finance the way needed. Specifically most have a problem with a portfolio loan and title to an LLC with me as a guarantor.

This obviously gets done but just looking for a bank that has experience in these type of transactions. I have a 1031 intermediary but they are slow to respond and getting close to some contract deadlines so trying other sources.

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I am a lender in Tyler, but we don't have any products that would work for this scenario. I have referred several people to Jay with Hurst Lending and he has always taken great care of them. I would recommend you reach out to him and see what he can do.

Brian

Thanks for the replies. Finally decided to just purchase the property outright. Will do a standard 1031 exchange later when we sell the other property. The fees and rates for the reverse didn't make sense for this deal.

Jay, thanks for your response. I've saved your information for any other upcoming deals.