Equity is great, but does it matter? Well to me, it doesn’t unless I actually cash out. I essentially didn’t need to bring any “new money” to this deal.
I was able to leverage a property I bought in 2018 to purchase my dream short term rental home through 1031 exchange.
1031 exchange, you can swap one property for another without accruing any immediate tax obligations due to the five-year rule.
This allows you to defer paying taxes to invest more into new properties or hold onto existing ones longer, which could mean bigger profits. Plus, since all investments are subject to real estate market changes, this provides extra protection from unexpected losses from selling off assets.
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