Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
1031 Exchanges
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

61
Posts
17
Votes
Fernando Domingo
Pro Member
  • Long Beach, CA
17
Votes |
61
Posts

Money spent on repairs for a 1031 exchange

Fernando Domingo
Pro Member
  • Long Beach, CA
Posted

Hi BP,

I have searched a bunch of different places and none of the articles that I have read and seen don't mention this so I thought that I would through it out to the community.

Here is my situation:

- I have a rental property that I bought in 2014.  

- It has been rented until the beginning of 2018 when I evicted my tenants.  

- I spent over $35k in renovation the property and now I am selling it. I am currently in escrow.

- I want to 1031 exchange it into a new property, but i would like to get the money that I spent on repairs back to have liquid.  IS THIS POSSIBLE?

I know that in a 1031 you have to buy a property that is more than the sale price and the cash made from the property is supposed to be reinvested into the new property.  I haven't found anything on monies that was invested into the property and how that may be handled?

Does anyone have information on this or can they guide to something that has this information?

Any information is much appreciated.

  • Fernando Domingo
  • Loading replies...