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Updated almost 3 years ago on . Most recent reply
![Ben Cochran's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/157390/1621420059-avatar-beauxman1.jpg?twic=v1/output=image/cover=128x128&v=2)
1031 into a brewery startup
In about 3 months I'm selling a property that will profit about $345k. I'd like to leverage this with a 1031 exchange into a new brewery startup. Although not a 1031 expert I have a general understanding of the process and timelines involved. That said I do have some questions. And yes, I will be enlisting a QL very soon.
The brewery startup will be about $1.5M whether I buy a building and build out, or buy a small piece of land and construct a building on it. An SBA loan will be utilized although I'm not sure how much at this moment.
Trying to figure out the best way to leverage the proceeds from the 1031. Can I take a portion of the proceeds and purchase the land/building and use a portion for the down payment required by the SBA (I believe 10%)?
Perhaps there's a creative solution that I haven't considered yet. Thanks!
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![Kevin Chubet's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2387717/1646799591-avatar-kevinc1026.jpg?twic=v1/output=image/crop=573x573@0x0/cover=128x128&v=2)
I know a fair amount about 1031's and that food truck question is extremely interesting. Going from the regulations I am fairly confident it wouldn't qualify because of the type of property it is and it wouldn't fall into the "the following assets are inherently permanent structures (i.e. real estate) if they are permanently affixed to real estate, including being affixed by weight (Reg.1.1031(a)-3(a)(2)(ii)(C)
Goodluck with your 1031 it is great you are doing your due-diligence before hand because I have too many clients fair 1031's because they are not prepared and just think they will be able to find something within the time limits.