can my children get a mortgage for me when I do 1031 exchange?

[Dominique Yuan]

Both my husband and I are retired and have limited income from rental properties. We are thinking about selling a rental property and buy one with better income prospect. However we still have loan on the property and we probably can't get loan approved any more for the new property.  I want to know if my kids can get loan for us to do 1031 exchange? If so what limitation there might be?

[Bob E.]

@Dominique Yuan I tagged Dave Foster on your questions is a local expert that handles 1031's and should be able to give you an answer. You should also be able to find a DSCR (Debt Service Coverage Ratio) lender. You might pay a little more for the rate but should be good.

Where are you looking to invest?

@Dave Foster