1031 Exchange on a Cash-out Refinance????

[Kevin Christensen]

Hey gang.  I was thinking about this and curious if its possible.  Has anyone done it?  I have properties under contract that I want to purchase.  Can I do a 1031 exchange on a cash-out refinance or does it have to be on a sale?  If I can do it, how much does doing a 1031 delay the process?  I'd like to do these refinances/purchases within 90 days.  Thanks!

[Jaysen Medhurst]

You do a 1031 exchange on a sale, @Kevin Christensen. What are you trying to accomplish? There are no capital-gains tax implications when you do a cash-out refi.