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I’m Four Months Into a 1031 Exchange—Now It’s All About Finding the Best Deal in the Haystack
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two […]
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The pandemic swept through the U.S. housing market like a tsunami. Radical price hikes and all-time low inventory accompanied massive migration away from pricey big cities. Four years later, the […]
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1031 Exchanges
HomeForums1031 Exchanges1031 exchange question
Tommy Sowell's profile image
Tommy Sowell's profile image
Tommy Sowell
  • Investor
  • from Waianae, Hawaii
  • Member since Dec 22, 2014
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Tommy Sowell's profile image
Tommy Sowell's profile image
Tommy Sowell
  • Investor
  • from Waianae, Hawaii
  • Member since Dec 22, 2014
Connect
Tommy Sowell
  • Investor
  • Waianae, HI
41
Votes |
106
Posts
1031 Exchanges

1031 exchange question

Tommy Sowell
  • Investor
  • Waianae, HI
Posted Mar 6 2018, 18:08

Hello

I sold a property that I bought for 680k 10 year ago and sold for $850 minus fees so $800k. There was a loan of $550k so I now have 236k in and 1031 exchange account and want to buy a property for $438k. The question is will I be screwed since I didn’t trade up even though I spent all the profits and took no cash? My exchange guy told be today I must spend more the the $850k I sold my property for?

Thank you

Tommy

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