Re: 1031 tax exchange - Posted by DJR
Posted by DJR on January 14, 2001 at 22:39:55:
Thanks for the information. Originally, in the relm of my naivete, I was thinking about using a cashier’s check from my line of credit to initially buy the property. Then afterword, having the exchange trustee sweep the funds from the L/O sale into my line of credit, but the more I think about this, the more complicated it seems to grow. I have only been learning about creative REI for about a year, and configuring this type of transaction may be, for now, a bit beyond my knowledge base.
I figure though that with the bite that Uncle Sam takes in capital gains, it’s worth spending a few minutes thinking about.
If anyone has an answer to my first question about exchanging out of a L/O I’d appeciate hearing your thoughts as well. Maybe I’ll skip over the idea of exchanging into auction properties and stick with the more traditional fare.