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Had to choose between a 1031 exchange and just selling a small retail strip in Phoenix
The numbers showed a $180k tax hit if I sold, but the only replacement property my broker found was a triple-net lease with a shaky tenant. I went with the sale and took the hit, which felt awful but at least it's cash in hand now. Anyone ever regret going for the exchange just to avoid the tax bill?
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taylor_garcia8d ago
How long ago was that sale? I've seen a few people get stuck with a bad replacement property and end up wishing they'd just paid the tax. Did your broker explain why the tenant was considered shaky?
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rubywebb8d ago
Broker just said their credit was trash.
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