I have a couple of rental houses I'm wanting to sell via 1031 in order to purchase (and finance) a small apartment complex.

I need help with finding a company to handle the 1031 and also need to get in touch with someone that does lending for that sort of purchase. Anyone have any suggestions? Thanks.

No desire to use them as collateral for a portfolio loan?

If you're in B/CS I have a recommendation I can share. I haven't used them myself but will when the time comes. email me- toledo321 at aol.com

I thought 1031 had to be "like kind." Single family house for single family house of similar natures.

This is considered "like kind"

I have no clue how my fat finger ALWAYS hits that stupid face.

I am more than happy to walk you through the financing and if you are located in Houston or Dallas potentially help with the loan. My email is in my profile.

I have the same goal of 1031 exchanging single family homes for an apartment complex in next 18 months!

My mentor has recently started shifting from all SF to a handful of his best SF and a couple of multifamily apartment complexes. He has enjoyed it and MF presents some good opportunities, but I was surprised at the types of problems that he is facing. For example, he bought one complex from a doctor, who basically had no DD docs prepared (leases, rent roll, etc) so that forced him to extend closing while the seller figured out exactly what it was he was selling. I'm curious if anyone else has any insight into the transition as well.

Single family to apartment should be fine - the likeness is "productive" real estate

I know some investors doing the opposite to get out of low cap markets - hard to find exciting cap rates on apartments - takes a lot of work it seems. One option has been fourplexes that can qualify for Freddie Mac

For the exchange / related questions I'd recommend calling Lu Ann Blough

Lu Ann Blough
Regional Development Director
ERG - Exchange Resource Group

http://www.erg1031.com/about/

I found her thru a post on the board (her son if I recall correctly)

One idea for funding - ask the seller who has the note (or had the note) if they financed - I've seen some community banks be very accommodating for known performing properties

If you need some help with multifamily lending (or single family, investment etc) I have bank or brokered options - email me at jackblack01 at iCloud dot com if needed...

Good luck!

Realist,
I'm a commercial loan broker and we specialize in TX multifamily, especially the Class B and Class C space. We did over $450MM in originations last year...Fannie, Freddie, local banks, credit unions, etc. Additionally, I'm also an owner of multifamily, so I'm happy to offer general advice as well. Email is hbox at oldcapitallending.com

texrover91 said:

---

Single family to apartment should be fine - the likeness is "productive" real estate

I know some investors doing the opposite to get out of low cap markets - hard to find exciting cap rates on apartments - takes a lot of work it seems. One option has been fourplexes that can qualify for Freddie Mac

For the exchange / related questions I'd recommend calling Lu Ann Blough

Lu Ann Blough
Regional Development Director
ERG - Exchange Resource Group

http://www.erg1031.com/about/

I found her thru a post on the board (her son if I recall correctly)

One idea for funding - ask the seller who has the note (or had the note) if they financed - I've seen some community banks be very accommodating for known performing properties

If you need some help with multifamily lending (or single family, investment etc) I have bank or brokered options - email me at jackblack01 at iCloud dot com if needed...

Good luck!

---

I used them and worked with LuAnn to do a 1031 on one of my rentals last year. I was happy with how they handled everything.

Don't forget...capital gains tax rates are pretty dang low right now. Will they be fovever? Unlikely.

Thank you all