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Updated about 9 years ago on . Most recent reply presented by

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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
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Liquidating two properties into an intermediary for another

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

I have a property in my name I want to mortgage so I can use the money to fix it up and make some improvements. I also have two debt free properties I would like to liquidate into an intermediary and then use that money to 1031 exchange into the property I am going to be mortgaging to reduce my debt. 

Is there a way to do this in my own name?

Most Popular Reply

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Dave Foster
  • Qualified Intermediary for 1031 Exchanges
  • St. Petersburg, FL
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Dave Foster
  • Qualified Intermediary for 1031 Exchanges
  • St. Petersburg, FL
Replied

Sorry @Rich Hupper, the 1031 must be used to purchase new investment real estate.  Paying down a mortgage on real estate you already own will not qualify.

  • Dave Foster
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The 1031 Investor
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103 Reviews

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