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Updated over 7 years ago on . Most recent reply
Where to invest 1031 proceeds
I am 50 years old, live in NYC, plan to retire in Florida in 15 years when my children have graduated high school. I own a commercial mortgage company, have owned 8 sfr/condo rental properties and would consider myself relatively educated in real estate investing.
Looking for ideas where to 1031 $300,000 proceeds from the sale of a Denver condo, with the goal of either paying off a retirement home/condo in Florida, or purchasing a multi-family home in Florida/New York/New Jersey that will provide cash-flow when we retire. Would welcome any seasoned investors advice and thank you in advance for your thoughts!
Most Popular Reply
Matt,
Wow, you are right. If I remember correctly, the last property I sold in Denver, they held back money to pay taxes. Is this what you are referring too, and if so, does the state just send me the money after that year's tax returns are filed? Really appreciate this heads up.
Stuart