I maybe just lost 30k

[James L.]

Hey everyone, I need advice!! So I identified a four plex for my 1031 exchange and then put it under contract. This will be my fourth property but the appraisal came back very low. I have seen several sell in that neighborhood in the 365k-375k range in the past 9 months. I got it locked up for 350k, well appraisal came back at 320k. I guess the others ones were all cash purchased and the appraiser won't use them. So at this point it's either come out of pocket 30k to make it happen or move on but the other properties I identified have sold but one and it's not enough to cover my tax basis. And will be out 20k to the tax man.