Jack TuckerPoster
- Real Estate Investor, Flipper, PM, vacation rental, Wholesaler
- Athens, GA
- 210
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Cash-out refi, buy, sell then 1031?
This is probably a very basic question, but I have no shame when it comes to learning here in BP: I'm about to do a cash out refi on one property (#1) I own free and clear in order to use that cash as a down payment for a new property (#2).
If I can eventually sell property #1, am I able to 1031 the cap gains into the loan on the new loan for property #2? It's almost like a 1031 but it's like putting the cart before the horse in the typical sell-buy scheme of things.
Thanks in advance for your patience with my basic questions.