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Updated over 4 years ago,

Jesse Daconta's profile image
Jesse Daconta's profile image
Jesse Daconta
  • Rental Property Investor
  • from Newport News, VA
  • Member since Oct 22, 2018
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User Stats

264
Posts
130
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Jesse Daconta's profile image
Jesse Daconta's profile image
Jesse Daconta
  • Rental Property Investor
  • from Newport News, VA
  • Member since Oct 22, 2018
Connect
Jesse Daconta
  • Rental Property Investor
  • Newport News, VA
130
Votes |
264
Posts
1031 Exchanges

1031 Exchange into a rental and then primary residence?

Jesse Daconta
  • Rental Property Investor
  • Newport News, VA
Posted

Hey guys,

We have a friend that just sold a rental property and made $120,000. His plan is to 1031 exchange it into a rental in another location. After two years, they want to make this their primary residence. Is this legal?

Thank you,

Jesse

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