1031 Exchange - Debt, syndication, partnerships
Hi all! My husband and I are currently selling an investment property with the goal of a 1031 exchange and have some questions around the debt component.
For simplicity's sake, if the property will sell for $1.5m and there is $500k of debt currently, we are trying to understand our options. How do these numbers (mostly the debt amount) work If we want to put some of the profit into a syndication and some of the profit into a multifamily partnership (I understand that you need to purchase something of equal or greater value), ie - if we are just a small part of a down payment in a syndication and / or partnership deal, where the total purchase amount is greater than $1.5m and the debt is greater than $500k, are we ok?
I'll also add that my husband and I are self-employed (last 1.5 years) so partnerships vs. loan vehicles are probably the better bet for us at this juncture.
Thank you!
