Need advice , would you hold results 1 or results 2 ?
I have two scenarios I am trying to choose between

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Im looking at 1mil in commercial building with 25% down in both scenario

scenario 1 :  cash out now via refinance and buy commercial property when corona is over

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scenario 2 : wait until corona is over and 1031  exchange into commercial property, we factor in 20% price drop on all my sales

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which do you prefer to hold ?

https://preview.redd.it/qg3z8ljcstr41.png?width=1071&amp;format=png&amp;auto=webp&amp;s=830688751642e89ae94b6ccfb942a343bb565209
[{"id": "fmwu8gm", "text": "I would prefer the option with less debt payments. \n\nThis current situation should show why that us valuable. Option one where you have 5k in debt payments is more risky.", "replies": [{"id": "fmwuhfn", "text": "this is true, the 5.3k can be offset via renting those homes, but in the current rent market I would be short 300 per month.  This scenario is more risky as I can use the commercial building to cover this short fall.\n\n&amp;#x200B;\n\nbut if corona like hits again, I'm filing bankruptcy sir", "replies": [], "depth": 2}], "depth": 1}, {"id": "fmwxjvc", "text": "1031 is going to be difficult to execute over all 5 properties, you can of course do a reverse exchange if you have the cash to buy now.\n\nWhat kind of commercial property is it? That also plays into the scenario.\n\nAlso 1031 you are supposed to maintain the same debt levels. So you'd actually be looking for ~1.4M If that makes a difference. And then wait 6 months and pull out that extra cash. Tax Free.", "replies": [{"id": "fmx9jtb", "text": "i don't have target of commercial property yet\n\nbut looking between 1 mil range\n\n&amp;#x200B;\n\nI have to buy \\~ 1 mil worth of commercial while maintaining only 322k in mortgages,  this is quite easy to do ?  since I plan on doing 250k down, which brings my mortgage to be about 700k range ?\n\n&amp;#x200B;\n\ntiming could be issue for me because I need to sell and buy within 180 days", "replies": [], "depth": 2}], "depth": 1}, {"id": "fmyh15o", "text": "You're not going to get a discount unless this thing lasts for several more months.  There are still a lot of buyers sitting on cash ready to buy.", "replies": [{"id": "fmyj8lf", "text": "it's ok  if commercial building price won't decrease then my residential hopefully won't decrease\n\n&amp;#x200B;\n\nI factored in 20% drop in my 5 single family home in case we fall 20%", "replies": [], "depth": 2}], "depth": 1}]