Jack TuckerPoster
- Real Estate Investor, Flipper, PM, vacation rental, Wholesaler
- Athens, GA
- 210
- Votes |
- 260
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Sold for $700k. Original Costs: (Cash 100k + Loans 300k)... How much must I Buy?
I have a portfolio that I have owned for 3+ years. Selling for 700k.
Total purchase price that I paid was $400k.
Let's say that $100k is from "after-tax money" for down payment/rehab cash and the other $300k is from loans.
Here's my question: If I do a 1031, do I need to buy something that costs $100k, $400k or $700k?
I understand there are closing costs, depreciation, etc. Just trying to keep this simple.
Thanks in advance! @Bill Exeter