I'm hoping to get input from the community on a situation I have. I have a business venture that has raised money but needs a couple more chips to be thrown into it. I'm considering liquidating one of my pieces of real estate to get over the liquidity hump in the business.
I was looking at 1031 exchanging my property and using the money but it seems like I wouldn't be able to touch the funds without taking the tax hit. Is there any way to either borrow against property quickly or to 1031 it and borrow against the escrowed funds with a hard money lender or something of the like? Ultimately I'm trying to gain access to the equity in my investment property without refinancing, and I'm open to liquidating this particular one since it's a bit of a thorn in my side anyways.
Any advice or thoughts would be greatly appreciated.
@John M. have you looked into a Line of Credit on that investment property?