A reverse 1031 exchange is when the Borrower purchases the replacement investment property before selling their relinquished investment property.

Loan Term: 1 Year

Loan Position: 1st Deed of Trust on Purchase property, 1st Deed of Trust on the property for sale, 2nd Deed of Trust on Additional Collateral

All additional collateral gets released when the relinquished property sells.

Combined CLTV: Under 60%