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Updated over 5 years ago,

Pete Harper's profile image
Pete Harper's profile image
Pete Harper
  • Rental Property Investor
  • from Streetman, TX
  • Member since Jul 7, 2018
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User Stats

519
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491
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Pete Harper's profile image
Pete Harper's profile image
Pete Harper
  • Rental Property Investor
  • from Streetman, TX
  • Member since Jul 7, 2018
Connect
Pete Harper
  • Rental Property Investor
  • Streetman, TX
491
Votes |
519
Posts
1031 Exchanges

Can 1031 funds be used for renovations?

Pete Harper
  • Rental Property Investor
  • Streetman, TX
Posted

We are looking to purchase a property using 1031 exchange funds. After inspections we found the property needs $27k in foundation repairs. We are negotiating price reduction with seller. The new price is below my 1031 basis. My question is can I use the remaining 1031 funds to pay for foundation repairs?

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