Newer investor here! I understand that once you sell a property and put the profits into a 1031 Exchange, you have 45 days to identify the property you're going to put the money towards and 6 months to complete the ex...
Can I use the 1031 exchange from a raw land purchase to a small condo and then rent out the condo/house?My situation is that I've purchased some land on the coast and if I flip it can I take that gain and put it into ...
Hello fellow BP'rs!I have been trying to find concrete info on laws...but it seems to be a grey area? I acquired a new unit and I'm now looking at a 1031 exchange of a portfolio (5 units, commercial financing) into s...
In December I bought a single family home, all cash, which was in rough shape and had been vacant for over a year. I had the intent of fixing it up, renting it for a couple years then selling it. I have it advertised ...
Can I sell a spec home and turn around and use the profits to buy a vacant piece of land that one day I will build a home on for Primary residence under the 1031 exchange rules?
Hello BP,
I am in the process of finishing a house and will profit 140K. I am considering a 1031 Exchange to purchase a 4plex or bigger. This house is completely paid off and in a C+ neighborhood. I really do not wan...
I heard only rental properties qualify for 1031, but not flips. Is this true?
Hello, I'm mostly writing to confirm my suspicions as the regulations are a little unclear/I'd appreciate a second set of eyes to make sure I'm not completely off-base. I'm looking at the proper treatment of the de mi...
I purchased a property earlier this year that was in terrible shape and I believed it was a teardown so I got it for the land value. I planned to BRRRR the property. I cleaned the property and lot up and repaired the ...
Good morning BP family! Where can I find a 'Letter of Intent' to take control of a property I'm interested in wholesaling?-GG