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Updated almost 3 years ago,
today's market to do 1031 exchange and only 45 days to find one
Hi Everyone,
I have an investment house in Las Vegas I want to sale it, and I will incur almost 250k capital gain. Since it is an investment so I dont get the tax exemption on it.
So is the only way to avoid paying hefty tax is to do 1031 exchange. I live in Los Angeles area, it is very short time to find a house in 45 days. In addition, bigger fear is with today's very high price already and alot higher than Las Vegas cash I will be received. I am basically going to spend more and buying the house at the top of the market cycle a chance of price decline or price flat for many years.
What would you have any recommendations for me on what to do or options regarding my situation thanks!