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Thoughts about this??
I currently have 15 rental units (combo of SFH and multi) and today will announce my "retirement" at my J - O - B.
The question I have is about using 2-3 SFH valued at @30k each to do a 1031 exchange and take that money for a down payment on a multi family. I am considering this strategy as from what I read on the forums it is rare that lenders will allow a refi on a property with such a low value. Thoughts?
My other option is to refi with private money (family/friend) and pull the equity that way. I want to use the equity I have to continue growing my business.
Has anyone been in a similar situation? How did you pull the equity out?
Any advice is appreciated.