All Forum Posts by: Jesse Murillo

One final question. 

Could I withdraw from having to do a 1031 even if I submitted my properties?  For example, say my Tax implications wouldn't be that much do deal with a 1031.

Today is my 45th day. 

I will submit at least 5 properties, but the odds of closing one of them are very low.

Dave Foster - thanks for the response.

For example, if I bought a home for $227k selling (put down $50k) and sold it for $270k, I would only pay taxes on the $43k ? Not the $93k I would have in proceeds? 

I'm reading I can also identify more than 3 properties as long they don't go over 200% of what my investment property sold for.

Thanks

Jesse

Thank you both for your input, good alternatives to research! 

My 45th day is coming up. What happens if I can't close on any of the 3 identified properties ?

With a hot real estate market and multiple offers on properties, can I change properties if I'm outbid on initial 3 properties?

From what I have read, If I don't close of any of the 3, it would be a failed exchange and I would get taxed on the money sitting with the 1031 company, is this true?  

Any advise would be greatly appreciated.