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Buying & Selling Real Estate
Account Closed
  • Jacksonville, FL
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1031 exchange

Account Closed
  • Jacksonville, FL
Posted Oct 13 2016, 12:12
Okay so I'm trying to help my father out with a deal.. he purchased a home for 225k (we used to live there but moved out about 10 years ago and put both units to rent) a while back our tenant offered 600k for the property... seeing how it is almost paid off (about 100k owed) the tax implications seem pretty high of about 150k in federal and state. That where we want to put the 1031 in play and start locating another property.. Just wanted any advice do's/dont's or any alternatives if he plans to buy up into a multi family (4-8 units) of about 1,000,000 Thank you in advance

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