1031 exchange for multiple properties?

[Colin Sullivan]

Hey all!

Will be relocating from Portland, OR to Atlanta in the next 1-2 months. Our house in Portland is on the market, and we need to sell it in order to afford the down payment for an Atlanta purchase.

The question: can you 1031 one property for two? The cost to purchase is cheaper in Atlanta, and ideally we’d like to purchase a primary residence and an investment property through the 1031.

Any thoughts are appreciated!

[Alex Olson]

Originally posted by @Colin Sullivan:

Hey all!

Will be relocating from Portland, OR to Atlanta in the next 1-2 months. Our house in Portland is on the market, and we need to sell it in order to afford the down payment for an Atlanta purchase.

The question: can you 1031 one property for two? The cost to purchase is cheaper in Atlanta, and ideally we’d like to purchase a primary residence and an investment property through the 1031.

Any thoughts are appreciated!

 You can Definately 1031 exchange one property for one to many more properties if you qualify for the 1031 exchange. If it is your primary residence the concept is still the same in that you don't have to pay capital gains on your personal residence up to a certain amount depending on a few other factors (length of residence being one). Talk with your local TAX cpa that KNOWS investment real estate. If they don't, find someone who does. 

hope that helps!