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Updated almost 4 years ago,

User Stats

112
Posts
126
Votes
Ross Bowman
  • Investor
  • Charleston, SC
126
Votes |
112
Posts

I don't really want to 1031. Am I wrong?

Ross Bowman
  • Investor
  • Charleston, SC
Posted

I'm selling a property and I'll only owe approximately $4k in taxes on it. 

I spoke to a QI who quoted me around $1500 to do a 1031.

I generally try to *legally* avoid giving the government tax money, whenever I can avoid it. 

But I'm actually not crazy about buying anything right now or pressuring myself to pick up a so-so deal. Our market is very hot and margins are thin here. I could try and find something off market, but I'm not full time in RE yet, so it's 50/50 I'd even find one in time. I still have a full time W2 job, and I'm not sure I want to box myself in. 

Even though paying taxes unnecessarily is almost sacrilege in real estate, is it bad if I just eat the tax? I'd still be in the green. This was my first property and really just a learning experience. 


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