How Quick Can You Really 1031 Exchange??

[Eric Mayer]

It seems like such a gray area. From the research I’ve done, some go 12 months and some go 6 months. There are others who even stretch that and say there is nothing you can do if someone offers you a nice profit. After all, the IRS just wants our intent to be keeping it as a rental.

I have a 4-plex that I purchased February 15th on Daytona Beach and renovated to force appreciation. I was wondering when the majority here thinks I can sell it without any issues.

[Jordan Callaway]

@Eric Mayer

I’d wait until 1 yr but not a lawyer

Then when you get an offer or list you can start looking for properties but once the buyer’s earnest money goes hard (becomes non refundable) then start looking aggressively and MAKE SURE to setup intermediary third Party 1031 escrow prior to closing bc you can’t touch the money

Then once your property closes you have 45 days to identify property (after that you can’t change these) and then close on trade property within 6 months of other sale

Let me know if you have q