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All Forum Posts by: John Woodrich

John Woodrich has started 19 posts and replied 1761 times.

Post: CD then Refi planning 1031

John Woodrich
Posted
  • Flipper/Rehabber
  • Minneapolis, MN
  • Posts 1,800
  • Votes 1,389

I am in MN and have a couple 1031 intermediaries I could refer.  If anything you may want to follow one of them on LinkedIn if you would  like to learn more about them.

I agree with the information posted above, it is hard to do a "regular 1031" in MN right now as inventory is down and you have to spend all the sales proceeds or you will pay taxes on any cash received.  I decided not to complete a 1031 on my last deal even though I already had one property lined up.  My plan was to sell the one house and purchase 2 houses.  The market didn't provide me much hope and the last thing I wanted to do was purchase a house that didn't meet my investment criteria.

I am a CPA and have worked on many 1031 deals, feel free to message me any questions you have or if you want a local 1031 contact.