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All Forum Posts by: John Soforic

John Soforic has started 5 posts and replied 22 times.

Post: 1031 exchange, then refinance?

John SoforicPosted
  • Real Estate Investor
  • Mount Pleasant, PA
  • Posts 22
  • Votes 7

Thank you guys for setting me straight! wow. I was close to pulling the trigger on the 1031...

Post: 1031 exchange, then refinance?

John SoforicPosted
  • Real Estate Investor
  • Mount Pleasant, PA
  • Posts 22
  • Votes 7

I am new to your site, but certainly not new to real estate. I have a quick question about a 1031 exchange...

When I buy the new property from the sale of another, can I then refinance the new property?

I am selling a flip for 260K and buying a group of duplexes for the same $260. I don't want to tie up that money forever... thus, can I save taxes via a 1031 exchange and then refinance to get the money out?