All Forum Posts by: Daniel Hanson

Thank you for the input, @Dave Foster. 

Thank you, Joel.  I'm very early in discussions so at this point I don't know the age/ composition of the tanks, but we will definitely investigate that.  The seller had been owner operator with hourly help, and my plan is to install management onsite so as to keep my hours minimal in operating the business.

Thank you both for your responses, @Joel Owens and @Robert Hetsler.  At this point it's enough for me to know it is theoretically possible depending on how the deal is structured, and I'll follow up detailed questions with a 1031 exchange facilitator offline. 

The gas station purchase has a couple options that are not decided, including buying the business and leasing the real estate, or buying the business and real estate in the same transaction.  Given that a 1031 may be possible, it would seem advantageous to buy the real estate and extend a lease to the business.

Hi all,

First post here.  I am planning to sell a residential duplex this year that has built up some equity, and am also in the early stages of purchasing a gas station.  Is it possible to 1031 exchange the duplex into the purchase of the gas station, or are they not considered like kind transactions?

Thanks,

Dan