1031 exchange - first time

[Nicholas J Mancini]

Hello, about to sell my rental property which is not in an LLC and just in my name... Does this still qualify for a 1031 exchange as I am looking to hopefully upgrade into another property... Is there anything that should be done in advance? thank you!

[Carini Rochester]

Quote from @Nicholas J Mancini:

Thank you very much for the info… I have been reading up on it and going into this I thought I had one year to execute the 1031. However it looks like I have to set this up prior to closing and then have 45 days to find the property. Then execute this 180 days after that? So I presume loop my account in on this…. 

Be sure to have your agreement in place with your Q.I. prior to selling. I used Dave Foster this past year. Very professional. He and his people were very good to work with.