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Updated 7 days ago,

User Stats

26
Posts
10
Votes
Ian Russell
  • Real Estate Investor
  • San Jose, CA
10
Votes |
26
Posts

1031 exchange question

Ian Russell
  • Real Estate Investor
  • San Jose, CA
Posted

I have a two questions with regards to a 1031 exchange

The first one is if I were to sell a property for 500,000 its paid off can I buy 3 new properties that cost 200 thousand each or does it need to be one property greater than 500,000?    Basically I am looking to sell a Property in Washington and buy 3 properties that are being built now in the South.

Other question is this.  If I were to sell a property in Washington state and buy a property in California can I do a 1031 exchange if I am going to move into the property in California?  Or do I need to do it strictly as an investment property?  Can I do it as an investment property first and move into it at a later date?     thanks

Ian

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