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1031 Exchanges
HomeForums1031 Exchanges1031 Questions - Buy Cheaper/Smaller Homes?
Chris Ayers's profile image
Chris Ayers's profile image
Chris Ayers
  • Rental Property Investor
  • from Warrenton, VA
  • Member since Apr 26, 2016
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126
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Chris Ayers's profile image
Chris Ayers's profile image
Chris Ayers
  • Rental Property Investor
  • from Warrenton, VA
  • Member since Apr 26, 2016
Connect
Chris Ayers
  • Rental Property Investor
  • Warrenton, VA
57
Votes |
126
Posts
1031 Exchanges

1031 Questions - Buy Cheaper/Smaller Homes?

Chris Ayers
  • Rental Property Investor
  • Warrenton, VA
Posted Nov 8 2017, 09:34

I'm looking to sell a home worth 385K (that I bought for 306K) and net about 100K on the sale. 

I started investing in cheaper markets where homes are 100K and under. 

If I do a 1031 Exchange, could I use the 100K to buy a smaller home or multiple smaller homes or do I need to put it into an equal or larger purchase? 

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