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Updated over 7 years ago on . Most recent reply

User Stats

283
Posts
179
Votes
Logan Turner
  • Rental Property Investor
  • Dallas, TX
179
Votes |
283
Posts

Can I sell a note and 1031 it into a property?

Logan Turner
  • Rental Property Investor
  • Dallas, TX
Posted
So I have a question for some smart people out there. I own a note (seller financing to a homeowner) and I'm interested in selling my note on a discount and then with the proceeds performing a 1031 exchange into a cash purchase on a rental house. Is this possible? Is a note purchasing a property a like kind exchange? Second question: what if I sell my note, and use the money to purchase the note that is on one of my rentals? Would this qualify? I own the note in my name but the rental is in my LLC. Thanks everyone! Looking for Opinions not legal advice.

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