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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 […]
Seven Reasons Why the Housing Market STILL Hasn’t Recovered From the Pandemic
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 Questions / Advice Minimum Spend
Ken Mull's profile image
Ken Mull's profile image
Ken Mull
  • Investor
  • from Long Beach, NY
  • Member since Dec 5, 2008
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Ken Mull's profile image
Ken Mull's profile image
Ken Mull
  • Investor
  • from Long Beach, NY
  • Member since Dec 5, 2008
Connect
Ken Mull
  • Investor
  • Long Beach, NY
2
Votes |
14
Posts
1031 Exchanges

1031 Questions / Advice Minimum Spend

Ken Mull
  • Investor
  • Long Beach, NY
Posted Apr 6 2019, 20:32

I have a duplex in NY that I purchased as a primary/rental about 18 yrs. ago. About 12 years ago I moved out and it became 100% rental.

If I sell it now for $700K I can net about $350K after paying off the first and second mortgages. If I do a 1031, I know I have to invest all of the $350 to avoid taxes but do I have buy something $700 or more?

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