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Connie Sullinger's profile image
Connie Sullinger's profile image
Connie Sullinger
  • Homeowner
  • from Chatham, IL
  • Member since Aug 8, 2011

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Connie Sullinger's profile image
Connie Sullinger's profile image
Connie Sullinger
  • Homeowner
  • from Chatham, IL
  • Member since Aug 8, 2011
Connie Sullinger
  • Homeowner
  • Chatham, IL
0
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2
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1031 Exchanges

using a 1031 exchange

Connie Sullinger
  • Homeowner
  • Chatham, IL
Posted

I am a homeowner and wondering if I can move out of my current home, rent it, and use a 1031 exchange to pay the current mortgage and home equity line of credit. Can anyone help with this question? Thanks.

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Mark Hu's profile image
Mark Hu's profile image
Mark Hu
  • Real Estate Investor
  • from Huntington Beach, CA
  • Member since Mar 14, 2008

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Mark Hu's profile image
Mark Hu's profile image
Mark Hu
  • Real Estate Investor
  • from Huntington Beach, CA
  • Member since Mar 14, 2008
Mark Hu
  • Real Estate Investor
  • Huntington Beach, CA
9
Votes |
221
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Mark Hu
  • Real Estate Investor
  • Huntington Beach, CA
Replied

1031 is for exchanges between seller and buyer. Paying off a mortgage is not an exchange.

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