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Updated over 2 years ago,

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3
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0
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John Rankin
  • Charlotte, NC
0
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3
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Best way to finance furnishings when using 1031 exchange

John Rankin
  • Charlotte, NC
Posted

I am using a 1031 exchange to purchase 2 STR's and from what research I have found is I am not allowed to use those funds for furnishing a property. What is the best way to finance the purchase of furnishings. I have some cash to do it but that will run me dry of my cash reserves which I would like to keep on hand for any unforeseen situations. Also, I know the cost will vary based on style and location but what is a good estimate for a 4 bedroom 2500 sqft property on cost to furnish properly. I have read anywhere from 10-15k all the way to 40-50k. Any input would be appreciated.

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