1031 Question

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Message 3 of 4

I'm a partner of a state recognized partnership. We own a piece of property that looks like it could be worth a fair amount of money. Since it is not generating any income, I'm suggesting that we sell it and pick 2 or more rental properties that can generate a monthly income. Am I correct in assuming that we could run this as a 1031 since all would be considered investment properties?

posted by rfday

Yes, I have done it. I trade property all the time when I am looking for income or appreciation. Tax free, I also use my IRA for real estate.

posted by Tom1950
over 4 years ago

Yes, I have a number of real estate clients who take advantage of 1031. It would be considered one investment property for another (or more) investment property.