1031 Exchange Question

[Steve Dudeck]

I have a question on what I can do out of a 1031 Exchange. I'll use round numbers to look for an answer from you guys.

I have an investment property that I purchased for 100K with 20% down. I am setting up a 1031 Exchange, for the sale of the property at 200K. The new property that we are purchasing is 300K. 

Is my Capital Gains 100K?
Do I have to put down the full 200K from the 1031 Exchange into the new property?
Can I only put down 180K? and keep 20k? What is that 20k subjected to if I can do that?

Thanks for the help! 

Steve

[Michael Swan]

I have done about 8 1031 exchanges and anything left over, I paid some taxes, but nothing major like stocks I have sold before.  Paying a little taxes is not always a bad thing.  Often you need some cash to reposition the new product you 1031 exchange for.  
I told my story on BP Podcast 238.  Check it out to see how I did it.  I 1031 exchanged Condos in San Diego for apartment complexes in Euclid, Painesville, and Akron in Ohio too and it has made me financially free and I retired from teaching last school year!! 
Now I am at the harvest stage refinancing those apartment complexes in for tons of cash back (tax free again) on brand new incredible Freddie 3 years interest only, 10 year terms between 3.5%-4% fixed NON-RECOURSE loans.   They have a 30 yr amortization too. 

What a feeling to be financially free at 56 yrs old and to focus on me RE management of the assets, expansion, and disposition (refi) at the moment!!! Check out BP Podcast 238 and feel free to message me to talk to me more about that!!  I I can do it, anyone can!!

If you change the way you look at things, the things you look at change right before your eyes!!

It sure did for me!!

Swanny