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Updated over 12 years ago,
Timing of 1031 exchange, two properties
We sold a property on June 22 and have $90,000 with intermediary. We have sold but not closed another property that will have $160,00 with intermediary in Sept or October 2012. We must purchase a new property for $640,00 or more to qualify for 1031. (Fed and State taxes will be around $55k on both properties with our current exchanged basis.) We do not wish to add funds to new property but could. Wish to stay under $720,000. We also understand that the second property may not close but that is another discussion.
Our question for experienced exchangers is how to identify three properties within the 45 days following June 22 and be successful in putting together these two properties with four months separation and close within 180 days of June 22. Any suggestions on where to find NNN or NN properties any where in US in this price range and be successful with the exchange?