Updated over 9 years ago on . Most recent reply
Financing Mulitple Properties
I am in contract selling one of my properties and would be doing a 1031 exchange using the proceeds from the sale. I have identified two properties that I want to purchase. I would use 1031 to put as downpayment for these two properties. My question is how can I get financing for these two properties - I am planning to tell both lenders about the two properties and need some advice on how they would look at DTI and other criteria?
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- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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@Ravindra Sridhara, Something else to add to your tool kit as you look at financing. You can structure the amounts of down payment in any way to meet your goals. I'll have clients who will use their 1031 proceeds to purchase one property out right and leave only enough for the minimal down on their second property. You can allocate the amounts in any way you want to get the right financing.
- Dave Foster
