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Updated about 2 years ago,
Newbie 1031 question
Hi. I’m in the middle of my first real estate investment which is a new construction build of a one family home. From what I understand, I can sell the property and reinvest the proceeds into a new property without paying capital gains tax on the sale. To qualify, the new property must be of a similar nature, character, or class as the one being sold. That being said. Does the new property have to be a new construction on a one family or can it also be a new construction on a multi family? Thanks in advanced!!