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Updated over 6 years ago,
Getting a lump sum of money from international property
1: can we use a 1031 exchange on an international property sale (Mexico) that is debt free? (Around $300k)
-if we can, how does that process work? I don’t want to mess it up right from the get go.
-if we can’t, how do we avoid paying a bunch of taxes on it since we plan on spending all of it on single family homes.
-if we can use a 1031 exchange, how do we buy properties and spend money on value add without violating the 1031 policies?
Sorry guys, this one is a pretty deep one, we are just beginning, but we are starting with cash.
2: (scenario) should we use all of the cash on 10 properties and then using the BRRR strat to then stack properties on them? Or should we buy 30 or 40 properties partially mortgaged? (As in a group investment deal or a bunch of properties from one person)