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Updated almost 6 years ago,
Buying with a 1031 property from a 1031 sale
So the title is a little confusing . . . basically I am wondering if both parties of a transaction can perform a 1031.
Here's the situation:
I bought a SFR rental property a few years back and am now looking to sell and invest in a multifamily property. I'd like to use a 1031 exchange to roll the equity from the SFR to the multifamily.
The multifamily I'm looking at state the current owner also wants to do a 1031 exchange.
Anyone have some experience in this situation?
Can both parties use the same 1031 administrator to facility the exchange?
Any updates on the 1031 exchange in the last tax update?