Updated about 24 hours ago on . Most recent reply
1031 exchange strategy and reducing debt
How best to reinvest, and control debt? We did not know that you have to carry the debt (boot) in a 1031 exchange. The whole point is to have less debt (we owe 600k) Ugh… This changes things. We have a contract for 1.5M on the sale home. We were thinking about buying two rental properties and carrying a small mortgage on each. That way if someone doesn’t pay the rent, there’s not a big note on the property. This way the renters pay the interest (generally speaking). The idea of giving the government over 100k inn capital gains makes me sick.