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Updated almost 7 years ago,

User Stats

6
Posts
1
Votes
Jeremy Petersen
  • Rental Property Investor
  • Salida, CO
1
Votes |
6
Posts

Question about qualification of a 1031 property.

Jeremy Petersen
  • Rental Property Investor
  • Salida, CO
Posted

Hello friends, 

3+ years ago I purchased a piece of commercial property that I converted into 3 residential units with the intention of holding long term. Now things have changed and I have the opportunity to turn the units into condos and sell them individually. I would like to do 1031 exchanges for each unit. Would converting to condos from one single piece of property disqualify me from a 1031? 

I haven’t started the process yet, but am about to.

Thanks in advance 

Jeremy 

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