BulldogTom Posted January 9, 2020 Report Posted January 9, 2020 Client just called and said they were going to do a 1031 exchange of two rentals for a different rental. But they did a refi on one of the properties a few months ago. Is there a problem with this? My spidy senses are saying there is, but I don't have my reference material in front of me right now. Thanks Tom Modesto, CA Quote
ILLMAS Posted January 9, 2020 Report Posted January 9, 2020 https://www.accruit.com/blog/cash-out-refinance-or-after-1031-exchange Quote
Max W Posted January 10, 2020 Report Posted January 10, 2020 Illmas, thanks for the nice reference, It seems the question is, was the refi part of a plan to do the 1031, or did the idea for the 1031 come up later. If they haven't already started the 1031, it might be wise for the to wait a few more months. Of course there could e other mitigating circumstances, as the article explains. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.