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Updated over 5 years ago on . Most recent reply

Katrina Cabral's profile image
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Katrina Cabral
  • from Los Gatos, California
  • Member since Oct 8, 2017
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Katrina Cabral's profile image
Katrina Cabral's profile image
Katrina Cabral
  • from Los Gatos, California
  • Member since Oct 8, 2017
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Katrina Cabral
  • Los Gatos, CA
17
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131
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Buying & Selling Real Estate

Can I sell my rental and use the proceeds to 'build' my 1031

Katrina Cabral
  • Los Gatos, CA
Posted

Can I sell my property in Atlanta to build a rental unit on my existing property? And would it qualify for a 1031 exchange?

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Wayne Brooks
  • #1 Foreclosures Contributor
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  • from West Palm Beach, Florida
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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

No.....you already own the property. A new build is Possible with a 1031 but you’d have to Buy the property and then build/finish enough to use up your 1031 funds within 180 days. 

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