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Updated over 2 years ago,

Chris C.'s profile image
Chris C.'s profile image
Chris C.
Pro Member
  • Rental Property Investor
  • Member since Jan 30, 2019
Connect

User Stats

10
Posts
3
Votes
Chris C.'s profile image
Chris C.'s profile image
Chris C.
Pro Member
  • Rental Property Investor
  • Member since Jan 30, 2019
Connect
Chris C.
Pro Member
  • Rental Property Investor
3
Votes |
10
Posts
1031 Exchanges

How to determine if a 1031 exchange is the right thing to do??

Chris C.
Pro Member
  • Rental Property Investor
Posted

Hello all,

I bought a property in 2019 for $8k.  I put in $52k so I was all in at $60k.  I refi out and pulled out $74k.  I just sold it for $125k.  After i pay off loan, realtor,etc. I will walk away with $30-$35K.    Which on the $30-$35K I would have to pay $7k in capital gains.   Would i be a candidate for the 1031 exchange or is it more for someone who will profit more?    Any feedback would be greatly appreciate.

Thanks

Chris

  • Chris C.
    • Upstate New York, New York
    2 Votes
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