Skip to content
1031 Exchanges

User Stats

3
Posts
0
Votes
Chris Claro
  • Investor
  • Newport Beach, CA
0
Votes |
3
Posts

1031 guidance for an unsual situation

Chris Claro
  • Investor
  • Newport Beach, CA
Posted Jun 2 2017, 17:29

Hi Guys, 

First post on here!

I sold a warehouse that I owned since 2011 this January and did an exchange carrying over $1m into another commercial property purchase price $1.5m.

Im currently submitting plans to the city turning that commercial space into a 4 unit property. 1 commercial and 3 residential.  Each unit will have a separate address.

My question is: Am I able to sell any of these condos without triggering my exchange or would I need to sell the 4 units together? My worst case scenario is that I rent out the 4 units.

Thanks in advance.

Chris 

Loading replies...