1031 Exchange to Primary while converting to rental?

3 Replies

I've been unofficially advised this is not OK, but thought I'd ask.

I have just sold my rental property that's all set up for a 1031 exchange (45 days starts today).  I also have my primary residence that I've considered renting out when we move.  Is it possible to invest the exchange proceeds into the property that I already own (refinance and add equity) while converting it to an investment property?

Thanks for any advice!

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here