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Updated over 3 years ago on . Most recent reply
Mobile home park 1031 exchange for mobil homes.
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.
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Bill B.
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Bill B.#1 Real Estate Deal Analysis & Advice Contributor
#1 Real Estate Deal Analysis & Advice Contributor
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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.