Tax Liens & Mortgage Notes
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago, 06/29/2017
Can I sell a note and 1031 it into a property?
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.