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Updated about 4 years ago on . Most recent reply
1031 exchange buying a portfolio.
Hey everyone,
I would like some feedback on this scenario.
I own a property worth 95k
Want to buy a portfolio of 9 properties at 800k.
Will sell mine and give seller 10%down and they would finance for us. Was thinking of using a 1031 exchange to do this.
Is this doable since the seller is the one financing?
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Dave Foster
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Dave Foster
#1 1031 Exchanges Contributor
Professional Services
Pro Member
#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
@Evelyn Tilman, It certainly is doable. As long as you purchase at least as much as you sell and use all the proceeds from your 1031 sale, the IRS does not care where the rest of the money for your purchase comes from. Looks like a great option for you.
- Dave Foster
The 1031 Investor
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