Quote:
Originally Posted by EarlyPorsche
On paper you could use $1,000,000 to buy a property 1031 and it would be fine if it was really only valued at say $700,000 because you would have lost that anyway. So if its income producing and a good value ON PAPER it works out that way. Of course take nothing I say as any sort of advice you should trust or follow! Seek professional counsel or guidance!
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Haha. "Buy this property because you'll probably lose the money anyway."
It twas funny accounting and pseudo investing which got us into this mess. Have we not learned from the failures on Wall St and Main St?