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Too late for 1031 exchange?
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sloughclub
Posted 5/5/2021 16:22 (#8988907 - in reply to #8988887)
Subject: RE: Too late for 1031 exchange?


Southern Missouri
If they let you do it now they’ll be several people piss—,as you’re not the first guy to not get his p’s and q’s in order.They actually aren’t that expensive to do if you shop a little, lot of title company agents with a lawyer on board can do it , I paid 17000 for one and later did same thing after learning a little and paid 900 on a bigger deal. I let the first lawyer that did that to me know about it and got a rebate.You can do it going forward as in buying a piece first but you can’t borrow anything on piece you’re buying and can’t have possession of it either,you furnish money to intermediary to buy it , has to go to an intermediary and then you have a period to declare property you’re selling and after that all takes place you can take possession of the new place from the intermediary, that’s close to being correct.

Edited by sloughclub 5/5/2021 16:34
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