All Forum Posts by: Micki Sluyter

We are trying to do a 1031. We have a property for sale but we have not had any offers yet and we have found a duplex to buy. The seller of the duplex does not want to wait for us to sell the other property. Are there reverse 1031’s? Or could we put the duplex into some kind of holding company until the 1st property sells? Or is there a better option? We’d really like to use the 1031, the 1st property is a flip and we’ve only owned it for 2 months so there will be short term capital gains taxes.

Try First Federal Bank & Trust in Sheridan WY. They overlooked the 6 month rule for us, then gave us a cash out refi based on a new appraisal.

Thanks Stuart! I went to Laramie too! My goal is to acquire more properties. The heloc is the only loan against the primary. I could then use the heloc to buy and refinance. I just want to make sure I'm not missing something with refinancing.

We currently have two rental houses. I'm wondering about refinancing our primary house to free up a line of credit to purchase another property. What are the downsides to refinancing? We have two mortgages on two separate rentals and have a home equity line on our primary residence. The home equity line is about 1/3 the value of the primary residence. Thanks!