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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
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1031 Exchanges
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Pierre Royce's profile image
Pierre Royce's profile image
Pierre Royce
  • Real Estate Agent
  • from Palm Beach Gardens, Florida
  • Member since Nov 14, 2016
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Pierre Royce's profile image
Pierre Royce's profile image
Pierre Royce
  • Real Estate Agent
  • from Palm Beach Gardens, Florida
  • Member since Nov 14, 2016
Connect
Pierre Royce
  • Real Estate Agent
  • Palm Beach Gardens, FL
1
Votes |
7
Posts
1031 Exchanges

1031 Exchange Question

Pierre Royce
  • Real Estate Agent
  • Palm Beach Gardens, FL
Posted Jun 26 2017, 14:29

Hey guys,

I have a client here in Southern Florida who has just closed on their house 5 days ago. They received around 70k in profit, do they have to pay taxes on this amount or would this be a good situation to do a 1031 exchange to buy another property?

Any advice would be greatly appreciated!

Thanks!

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