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Updated over 7 years ago,
How to pay yourself if you elect a 1031 exchange
Hi there,
Very new and ignorant to real estate but was somewhat dragged in without being prepared. Here's the situation.... I have a home that is currently being rehabbed and that I plan to sell next year sometime. I hope to avoid capital gains by using a 1031 exchange but then am not sure how I would pay myself and my partner?? Is this possible? Or do I need to pay the capital gains if I want money in money pocket after the sale. Any tips or suggestions are greatly appreciated. Thanks!!