Mobile home park 1031 exchange for mobil homes.

[Regina Weitz]

I’m selling my mobil home park in Alabama.  I have another mobil home park in Virginia that I’ve owned for a number of years.  Can I use a 1031 exchange mechanism to buy mobil homes to fully populate my mobile home park in Virginia?  Thank you for your advice. 

[Bill B.]

You’ll need a 1031 exchange expert but my first guess is no. The funds must be used to buy real estate and I don’t believe they are considered real estate. I don’t know if you’d be allowed to build a real home to rent out on property you already own, that would be another question for the QI you choose or at least interview.