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Updated over 4 years ago on . Most recent reply

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Ralph Pombo
28
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90
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Creative financing advice

Ralph Pombo
Posted

We have gone under contract to sell one of our rentals. I have never had an issue with financing before, but we both recently retired. Now no one will finance a new property. We have $200k to put down on one or several homes. I need to cover $500k for the exchange. Even though we have over $600k in retirement savings, no one is interested. Can you offer any suggestions? I hate to pay the tax on this.

Most Popular Reply

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974
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645
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Joseph Firmin
  • Rental Property Investor
  • Smyrna, GA
645
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974
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Joseph Firmin
  • Rental Property Investor
  • Smyrna, GA
Replied

Partner with someone who is willing to put their name on the mortgage(s)? Buy cash, buy it subject to the existing mortgage.

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