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Updated over 8 years ago on . Most recent reply
Liquidating two properties into an intermediary for another
I have a property in my name I want to mortgage so I can use the money to fix it up and make some improvements. I also have two debt free properties I would like to liquidate into an intermediary and then use that money to 1031 exchange into the property I am going to be mortgaging to reduce my debt.
Is there a way to do this in my own name?
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Dave Foster
#1 1031 Exchanges Contributor
Tax & Financial Services
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#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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Dave Foster
#1 1031 Exchanges Contributor
Tax & Financial Services
Pro Member
#1 1031 Exchanges Contributor
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
Sorry @Rich Hupper, the 1031 must be used to purchase new investment real estate. Paying down a mortgage on real estate you already own will not qualify.
- Dave Foster
The 1031 Investor
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