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1031 Exchanges
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Updated about 11 years ago on . Most recent reply presented by

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116
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14
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Paul Zofsak
  • Investor
  • Cypress, TX
14
Votes |
116
Posts

1031 exchange, on the fence

Paul Zofsak
  • Investor
  • Cypress, TX
Posted

I would like to hear from the experts on this one; here is my story. In January of this year I closed on a house with a buy and hold strategy. I did an HML and then into a conventional loan, I rented the house and am now in the process of evicting the current tenant. During the process I realized that I may have purchased a house that is above the current market demand and I will not get the type of tenants I want for the rent that I need; chalk that up to experience. Anyway, so in my current situation of only having the house for six months but with obvious intent to hold on to it initially should I consider moving forward with a 1031 exchange; would I qualify?

  • Paul Zofsak
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