2388 - 2/9/2021 18:27
Boone & Crockett - 2/9/2021 13:42
The only way personally I’d consider it would be a 1031 into a nice retirement townhome in Florida. But if someone is being squeezed from a cash flow standpoint, it may be their best option. Or simply want to farm with your own money, sell an 80 (with the highest basis) and do away with bank lines of credit.
A 1031 can only be used in a like kind exchange and the selling property must be of lesser value than the property or you have to buy multiple properties
(up to 3
). You must burn up all the selling proceeds.
We have done 1031s on several properties and these have been my experiences.
Sale-Leasebacks
