Seeking advice on Scenarios for 1031 Exchange/Loans/Cash on Hand
Hey BP Community,
I am currently seeking some advice and experience from individuals who have been in a situation like myself to better understand so I can decide the most logical and strategic decision.
My partner has a 1031 Exchange for X amount. They are looking to purchase 2-3 properties. I am not on the 1031 exchange but I will be providing support for loans, income, etc.
Scenario 1: Purchase 1st, 2nd, 3rd property with 1031 exchange X amount fulfilling transaction and all requirements for exchange granted all financing is approved and completed.
Scenario 2: Purchase 1st property with 1031 exchange under parters name only, fulfill requirements for exchange, acquire rest of funds with no tax, then complete 2nd and 3rd property transaction with funds on my name only.
Scenario 3: Purchase 1st property all cash with 1031 exchange, HELOC on 1st property to acquire property 2 and 3.
Look forward to hearing what the BP community can assist with and allow me to learn through this process
Thank you!