Raw Land Flip

[Forrest Holden]

Hello all, I am interested in buying raw land at auction at far below fair market value with intent to "flip" the land at just below fair market value. How long would I want to hold the property before selling it in order to avoid massive tax implications? Could I potentially 1031 this land for other land and defer the taxes? How long after selling the land on a 1031 would I have to put that profit into another piece of land to defer the taxes? Thoughts?

[Mark Creason]

@Kelly Ellis

What was your intention with the property?  Were you planning to use the lot to build investment property or were you going to build your personal residence?  If investment property, you might be able to 1031.  You should ask @Dave Foster.

Mark