Buying with a 1031 property from a 1031 sale

[Garry Burns]

So the title is a little confusing . . . basically I am wondering if both parties of a transaction can perform a 1031.

Here's the situation:

I bought a SFR rental property a few years back and am now looking to sell and invest in a multifamily property. I'd like to use a 1031 exchange to roll the equity from the SFR to the multifamily.

The multifamily I'm looking at state the current owner also wants to do a 1031 exchange.

Anyone have some experience in this situation? 

Can both parties use the same 1031 administrator to facility the exchange?

Any updates on the 1031 exchange in the last tax update?

[Dave Foster]

@Garry Burns,  perfectly acceptable. Doing a double this week. A realtor referred his client and we started an exchange for the client.  Now the client wants to buy a replacement from the realtor so the realtor will start an exchange with that sale.

Sometimes one realtor does both.  That’s very streamlined and efficient if the parties work together.  Sometimes they don’t know each other and each brings their own Qi. It works either way.

No changes with regard to real estate 1031s. All the same rules in place.