1031 exchange question

[Tommy Sowell]

Hello

I sold a property that I bought for 680k 10 year ago and sold for $850 minus fees so $800k. There was a loan of $550k so I now have 236k in and 1031 exchange account and want to buy a property for $438k. The question is will I be screwed since I didn’t trade up even though I spent all the profits and took no cash? My exchange guy told be today I must spend more the the $850k I sold my property for?

Thank you

Tommy