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Updated about 5 years ago,

James Duffy's profile image
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James Duffy
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James Duffy's profile image
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James Duffy
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James Duffy
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1031 Exchanges

1031 Exchange to pay back a loan for new construction

James Duffy
Posted

I am currently in the process of completing construction of a new rental property.  The cost has exceeded budget and I would like to sell my existing rental property to pay back the loan I had to take to cover the excess cost of construction.

Can I leverage a 1031 exchange to pay back the loan?

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