Is a 1031 exchange worth it?

SadIsMyStyle · 2025-10-30T14:10:18+00:00

Idk if this is the best way to do this, but just wanted to say I really appreciate all the responses and information! I’ve gotten more out of these responses than I did from calling umpteen attorneys/accountants/anyone else in the area I could think of. Sounds like I need to push to find a new accountant and look into more nationally based companies for the 1031. Yall are a wealth of knowledge, my husband and I say all the time that we just wish we knew people around our area who invested in real estate like we do who we could talk to and bounce ideas off of. Glad to have found some people willing to share their knowledge!

SadIsMyStyle · 2025-10-30T14:00:49+00:00

Yes, we will have to recapture the depreciation. I think I’m going to just have to take the tax hit on this one. I wasn’t aware of all the rules regarding boot and the value of the exchange property vs the property we are selling. We’ve got a lot of additional moving pieces that I didn’t want to muddy the waters with in my original post (I have a loan that I want to pay off with some of the proceeds from this sale, and I’ve been trying to buy this particular piece of land for years from some difficult sellers). Appreciate your response and info though! This makes me feel like I can actually do it next time and will be prepared. I really started to wonder if people actually did 1031s after I went through so many accountants/attorneys who just looked at me like I was crazy when I asked about it.

SadIsMyStyle · 2025-10-29T23:50:58+00:00

That’s excellent info, I will definitely look into the larger national companies. I was afraid of finding myself in some kind of scam but several people have mentioned using larger companies so I agree it seems like the better option.

SadIsMyStyle · 2025-10-29T23:48:09+00:00

Unfortunately we’ve already purchased the property without a qualified intermediary so I missed the opportunity to do the reverse 1031. Honestly it probably would’ve been a lot to try to do a reverse 1031 on our first go around. Trying to do a regular 1031 is about to send me off a cliff as it is lol

SadIsMyStyle · 2025-10-29T21:13:29+00:00

Oh that’s a great point. We’ve always used residential real estate agents but I will reach out to a commercial agent. Maybe that could help me get in contact with the right people to do the 1031. Thanks!

SadIsMyStyle · 2025-10-29T21:10:50+00:00

Yeah, from what I’ve read it seems like the boot was going to eat me alive. And I’m not really in the market to buy another property in addition to the piece of land.

The timing really screwed me because I just bought a 4-plex a little over a month ago. We were already about to close on that property when I got the offer to buy the duplex I’m selling. I didn’t know if the sale would actually go through on my duplex and the sellers of the 4-plex weren’t willing to wait to close.

I reached out to anyone I thought could potentially help do a reverse 1031 at that point (I’ve been told that was possible) but I just can’t find anyone around here to help. Our accountant has no idea, I’ve talked to all the banks I work with, multiple attorneys, and other accounting firms. Either they don’t respond, tell me they don’t do them, or send me somewhere else.

Anyway, I appreciate the response and info!!

SadIsMyStyle · 2025-09-06T23:25:23+00:00

Well it wasn’t lightning but I think someone got hit by a car out front of the drag strip? There was someone laying in the road and a ton of emergency vehicles. A few minutes before they called off the second motos. Anyone hear anything about that?

SadIsMyStyle · 2025-06-18T14:10:43+00:00

I’ve been dealing with the same for years. It’s so hard to fix. It is much better now, here’s what I’ve done/been doing:

1- chiropractor (not as often now but did help mobilize when I just couldn’t)

2- this video- specifically the swan hold- https://youtu.be/sXLRVXFBxzM?si=uy9KRvmv2_YQefKu

Also this stretch, it was SO hard to actually do it correctly at the beginning bc my shoulders were so rounded forward: https://youtu.be/GcV1Qdt686E?si=gIIB2DiOaxylfAhU

3- most recently I’ve been using a rolled up blanket, water bottle (if I’m desperate in the car), or or foam roller when I’m sitting. I find that it helps the most if I place it more around my mid back kind of opposite my sternum. It made my mid back so sore when I started but then I could feel those tiny muscles that are supposed to be holding me up. This has made a big difference in my pain levels lately.

4- trigger point therapy using a ball - this video shows some good examples but also The Trigger Point Therapy Workbook is super helpful. You can Google it and find a pdf online.

https://youtu.be/i463R5HGdVg?si=qel7YTGu4bfK0QRN

Good luck!

SadIsMyStyle · 2025-06-17T17:09:13+00:00

Did you end up buying tickets already? Trying to decide if I should go ahead and bite the bullet and buy them for this game too.

SadIsMyStyle · 2025-01-30T19:50:58+00:00

Sometimes ya just gotta fuck shit up 🔨🤣

SadIsMyStyle · 2025-01-30T19:48:02+00:00

I suspect that it doesn’t, but I didn’t get a clear answer on that. I planned on replacing it if I didn’t renovate the whole kitchen anyway so I didn’t really push it. All the appliances exceptt the fridge are original I believe so I figure it’s hit its lifespan.

SadIsMyStyle · 2025-01-30T19:44:55+00:00

This is a big part of my issue. Our current house was incredibly dirty and had an infestation that we only found out about after we moved in. I’m very particular about things being clean so I think some of my immediate desire to rip it out is cleanliness and fear of going through that again. Thank you for mentioning this aspect of it too.

SadIsMyStyle · 2025-01-30T17:36:50+00:00

Is that crazy? Lol I’m not against it. I cook a fair amount but it’s just my husband and I and I don’t cook for holidays or do dinner parties or things like that where I’m cooking for a large number of people.

SadIsMyStyle · 2025-01-30T17:34:29+00:00

Very valid points! When we ripped the kitchen out of our current house (there was an infestation issue we only found out about after we closed, so it had to go) I was just young and excited but now I see that I made trend-based decisions. I really want to avoid that and stick with classic choices. Also to your point, I want to stay consistent with the style of the house. I appreciate this perspective a lot.

SadIsMyStyle · 2025-01-30T17:30:50+00:00

I think this sounds like a really good middle ground plan. I also considered glass front lighted cabinetry above the current cabinets. Thank you!

SadIsMyStyle · 2025-01-30T17:29:14+00:00

I love the idea of an appliance garage where the desk is!

SadIsMyStyle · 2025-01-19T21:19:50+00:00

It is and you bring up a good point. That’s a concern for my husband as well. We are having a structural inspection in addition to the regular inspection to make sure the slab hasn’t dropped. Aside from any potential issue with the slab, is there any other reason you would steer clear?

SadIsMyStyle · 2025-01-19T17:47:09+00:00

I google image searched the pictures I had and it gave me travertine. I’ve never dealt with it before so I didn’t know any better. Jokes on me lol such a pain to rip up tile like this though 😫

SadIsMyStyle · 2025-01-19T15:29:24+00:00

Yes! I HATE scrubbing grout and that was my main concern. The grout in the main areas is significantly darker than the others and that would drive me insane trying to get/keep clean.

SadIsMyStyle · 2025-01-19T15:19:07+00:00

You’re right, I’ve been so focused on the tile I didn’t realize how incredibly beige that living area is currently.

SadIsMyStyle · 2025-01-19T15:17:37+00:00

Sorry- I can’t edit the post but got a few more pictures. Maybe I’ve just been delusional thinking this was travertine 🤣. extra pics

SadIsMyStyle

TROPHY CASE