All Forum Posts by: April A.

It's leaving room for unforeseen expenses & profit. I'm a newbie also.

Nevermind. I just re-read your last post Bill.

Thanks. That is the best news. 

Question; Does the portion that qualify for the 1031 Exchange depend on my past tax returns or is it determined by square footage?

And, my primary residence is a duplex. I live in the 2 bedroom & rent out the 1 bedroom.

Great post Hattie. I needed that.

I am considering doing the same when I sell my duplex. Let me ask you, do you use all your equity towards your new purchase or whatever amount you need?

Yeah. #11 is a good idea. 

Congrats! Did you consider doing a 1031 Exchange?

Oh boy. Am I in the wrong forum?

The time is finally here. I am ready to sell my primary residence, a duplex and purchase 5 or more units. I am considering doing a 1031 Exchange but I was wondering if all of my equity has to be used towards the new purchase? I am wondering because I will have to show atleast 3 months reserve cash for the loan. I wanted to use my equity for the cash reserves also. Or, do I just structure the cash amount I need to retain into the deal? I hope that makes sense.

Wow. Im new to wholesaling and the size of your target market makes my target market area seem tiny.