Tell me about your 1031 Exchange Story

[John McKee]

Why did you do a 1031 exchange and what was your goal?  

I did one about 15 years ago. I took equity in a residential rental property and traded it into a larger NNN retail property that was earning a 6% rate of return at the time. It was an all cash deal. I had to partner with someone on the deal as my portion of the exchange was only about 20% of the purchase price. I did it because I wanted to park some cash in safe place and of course avoid paying any capital gain.

What is your 1031 story?