1031 from investment into a second home for family

[Billie Chen]

I have a client who is selling his current investment home which he purchased for his parents ( and with a different lender). We can offer him a loan program which he can purchase a “primary residence” for his parents. Can he use 1031 exchange! If this is a second home sort of?

[Alex Olson]

Originally posted by @Billie Chen:

I have a client who is selling his current investment home which he purchased for his parents ( and with a different lender). We can offer him a loan program which he can purchase a “primary residence” for his parents. Can he use 1031 exchange! If this is a second home sort of?

 I am not sure. If it was an investment property, yes. If it is a second home, not sure...@Dave Foster? You need to speak to a really good QI that specializes in 1031 exchanges. The QI can be located anywhere in the nation. The most important thing is that they are reputable, like Dave.