Private money on a 1031 exchange anyone?

[Jack Sarcia]

Hello all,

I will have 70-90k as a down payment and I only need the financing for 3 years.

I cannot go to a bank because I am in my first year as a self employed individual.

What I'd like to do is hear from anyone who has used private money to make a 1031 exchange purchase into a property of greater value.

(EX. Selling my 3 unit and buying a 4 unit using my net proceeds and a private loan)

It seems proper to keep this a short term loan by refinancing the property at the end of 2 years. By then I would qualify for a loan and would have a few options.

Anybody?