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Updated almost 6 years ago,
Payoff loan before 1031 - any problem?
Hi, folks, long time lurker first time posting :)
Long complicated story short (I'll elaborate if anyone wants to hear later in thread), I may need to pay off the loan on a rental property I am selling to exchange.
Would there be any issue or disadvantage in doing that?
Once everything gets done, I plan to get a loan on the new property, close to the amount of loan I am paying off on the property I am selling. I know it sounds kind of silly... but would love to hear what you think.
Thanks!!