1031 Exchange (Like-Kind Exchange?)

[Matt Henshaw]

I have been trying to do some research on this question..... if I sell some of my single family houses could I exchange (1031) and purchase a storage unit business/property?  Would this be acceptable under the new rules for 'like-kind exchange'?  

[Michael Plaks]

@Matt Henshaw

Yes, you can exchange residential properties into a storage facility. This has not changed.

Just remember that you cannot sell and then start an exchange. Need to start the exchange process before you sell.