1031 Exchange and Mortgage

[Jennifer Tung]

Hello,

I am very new to investing and would like some advice / insight. I purchased a SFH earlier this year in all cash and wanted to do a cash out refi so that I could used the proceeds to invest in other properties if I saw a good opportunity.

My plan for the SFH is to eventually sell it and hopefully be able to purchase a multi-family via 1031 exchange. I wanted to know if having mortgage would cause any problems in this situation? i.e slowing down a sale, etc. Any insight would be greatly appreciated whether it is a big issue or small issue, I would like to know any roadblocks that I might run into.

Thanks in advance!