Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 10 years ago,

User Stats

21
Posts
0
Votes
Jack Sarcia
  • Easton, MA
0
Votes |
21
Posts

What if I cant 1031?

Jack Sarcia
  • Easton, MA
Posted

I will be closing on the sale of my 3 family next month for 450k and I will be netting about 100K before capitol gains tax.

My problem/question is that my first year of self employed income does not qualify me for loan (from a bank) to go out and buy a property of equal or greater value than the 450K.

I am using a direct mail campaign to find motivated sellers of multi's in my area and I am in search of sellers who will carry back.

Not finding a seller who will carry and not using a private lender leaves me buying a property cash and paying capitol gains tax.

Any suggestions or questions would be helpful. Thank you BP community.

Loading replies...