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Updated over 9 years ago on . Most recent reply presented by

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24
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1
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Mike Rash
  • Real Estate Investor
  • Livingston, NJ
1
Votes |
24
Posts

1031 - Substantial Improvement before selling

Mike Rash
  • Real Estate Investor
  • Livingston, NJ
Posted

I have a 1 FAMILY RENTAL property that I have been renting out for 2 years.

My cost basis for the property is 500k.

I would like to do substantial improvement to the property by building addition

and increasing square footage by about 200%. The improvements

would cost around 400k. Then, I plan to sell it for about 1,400,000.

With proceeds, I plan to purchase another rental property(s).

Is there way I can structure this so that it qualifies for 1031 exchange?

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