What happens when your borrower finds the right investment property before their current property sells?
In this scenario, Jerry wants to purchase a $1 million investment property in Lake Tahoe, California, before selling his existing $930,000 property in Bozeman, Montana. By combining a Reverse 1031 Exchange with LendSure’s BBYS (Buy Before You Sell) No Payment Bridge Loan, Jerry can access equity from his existing property to help fund the next purchase without monthly payments on the bridge loan.
Watch how the financing comes together:
• Access Existing Equity: Use a BBYS Bridge Loan to access equity from the property being sold.
• Purchase the Next Investment: Secure the new property while the existing property is still owned.
• Complete the Exchange: Sell the original property within the applicable 180-day exchange period to complete the Reverse 1031 Exchange, subject to the exchange requirements.
