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Updated over 2 years ago on . Most recent reply

User Stats

120
Posts
119
Votes
Steven Griffith
  • Rental Property Investor
  • Chapel Hill, NC
119
Votes |
120
Posts

1031 Question: Investment Home -> Second Home, Land, etc?

Steven Griffith
  • Rental Property Investor
  • Chapel Hill, NC
Posted

Hello BP!

My wife and I are selling one of our investment properties (been an investment property for 2 years).  We've discussed a lot and are considering purchasing a second home in the mountains for our personal use.  I've done a 1031 in the past for investment home -> investment home(s).  Can I 1031 the investment home proceeds into a Second Home?  Or does that violate the "like-kind" description?

Alternatively, could we 1031 the proceeds from the investment home to a raw land purchase?

Thanks for any insight!

Steve

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