1031 exchange within 3 months

[Moty Wall]

Hi everybody,

About 6 weeks ago I bought a 3 unit building in Cincinnati for which I paid in full. No financing.

Next week I am about to close on a sale of 4 unit building which I own already few years. 

I want to use the 1031 exchange for this sale.

My question: Since it is such a short time from purchase, is it possible to apply the 1031 exchange to the purchase of the 3 units?

I'll appericiate any advice on this matter.

Thanks

P.S. And by the way, I love this web site. I learn a lot from it!! 

[Tobey Porter]

If you've already closed on the property you're buying you can't do a 1031 exchange; that has to in place prior to closing.