Updated 8 months ago on . Most recent reply
Loan after rehab
I have a commercial building that I bought for 800k last December. Currently doing a renovation on it. Reno will be about 650k. So, after I’m all done I will have 1.450m into it. Just got half the building leased and other side will be leased soon. I will be about at 220k Noi nnn once the other side is leased. Thinking of taking on bank debt instead of 1031. Don’t really want to sell. I wouldn’t have to pay taxes on the bank $ would I? How does all of this work on the back end? Usually I take a loan at the beginning so not familiar with it.