BulldogTom Posted January 9, 2020 Report Share 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 Link to comment Share on other sites More sharing options...
ILLMAS Posted January 9, 2020 Report Share Posted January 9, 2020 https://www.accruit.com/blog/cash-out-refinance-or-after-1031-exchange Quote Link to comment Share on other sites More sharing options...
Max W Posted January 10, 2020 Report Share 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 Link to comment Share on other sites More sharing options...
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