1031 Exchange question
here goes.. I am a builder... I am in the process of building a 4 plex.. and then after that I will do another .. Plan on having 4 within the next 5 years. All being 75% LTV. If all goes well I am considering in 5 years selling these off and using the proceeds along with some other $ to build an apartment probably around 30 units or so. My question lies in the process of the 1031 exchange.
I know I have to have 1031 qualified intermediary handle it and I have a 180 day to have the process complete, but I am wondering if there is anything I have to do to make this work since in reality I would be the owner from the ground up. It isnt like finding an existing 30 unit complex that someone else owns.