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Updated almost 6 years ago on . Most recent reply

Ken Mull's profile image
Ken Mull's profile image
Ken Mull
  • Investor
  • from Long Beach, NY
  • Member since Dec 5, 2008
Connect

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18
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2
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Ken Mull's profile image
Ken Mull's profile image
Ken Mull
  • Investor
  • from Long Beach, NY
  • Member since Dec 5, 2008
Connect
Ken Mull
  • Investor
  • Long Beach, NY
2
Votes |
18
Posts
1031 Exchanges

1031 Questions / Advice Minimum Spend

Ken Mull
  • Investor
  • Long Beach, NY
Posted

I have a duplex in NY that I purchased as a primary/rental about 18 yrs. ago. About 12 years ago I moved out and it became 100% rental.

If I sell it now for $700K I can net about $350K after paying off the first and second mortgages. If I do a 1031, I know I have to invest all of the $350 to avoid taxes but do I have buy something $700 or more?

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