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Updated over 2 years ago on . Most recent reply

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I have a house renovated in Detroit Michigan

Posted

I have this house ready for rent sale or refinance I'm looking for someone to help me with recommendation or directions is the best way to go thank you

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Dave Foster
#1 1031 Exchanges Contributor
  • Qualified Intermediary for 1031 Exchanges
  • St. Petersburg, FL
9,353
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8,978
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Dave Foster
#1 1031 Exchanges Contributor
  • Qualified Intermediary for 1031 Exchanges
  • St. Petersburg, FL
Replied

@Abinadab De la Torre as @Andrew Moore and @Alex Olson mentioned, a 1031 exchange is a great option for your situation whether you decide to rent or sell. If you decide to sell you can defer all taxes and depreciation recapture by doing a 1031, this would allow you to move into a property of equal or greater value anywhere in the country without limiting your buying power with taxes. On the other hand if you decide to rent it out you can always come back when you're ready and 1031 out of it then.

  • Dave Foster
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The 1031 Investor
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