Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

16
Posts
3
Votes
Samuel Peters
  • Homeowner
  • Spokane, WA
3
Votes |
16
Posts

Question About 1031 Exchange

Samuel Peters
  • Homeowner
  • Spokane, WA
Posted

Hi, I have a question regarding the 1031 Tax Exchange and if my parents are able to use it or not. 

My parents own two houses in Washington State and are looking to get rid of one of the houses. It has about 10k left on the loan and when it's paid off they want to sell it. I told them about the 1031 tax exchange, trying to get them to look into getting another property to do some kind of buy and hold. Then they asked me if they would be able to use that money to help pay off the second mortgage that they have on their other house. Please let me know who I should talk to to find the answer. Also, if you have any experience with doing something like this, or know why I can't please let me know! Thank you very much!

Loading replies...