1031 exchange next property

[Horacio Gutierrez]

Hello,

If I exchange into another property doing a 1031 that has the same value, does the property I purchase need to be rented already with tenants or can it be a property that was non rental home before and when I buy the property I will make it rental property?

[Mark Creason]

I thought I would post to this. Like kind property is real estate. Can be retail, office sfr, mfr, mobile homes, ground leases, industrial, hotel properties, TICs, DST, etc. Too many people want to believe that like kind is sfr for sfr and so forth. To complete your 1031 exchange, you need to buy real estate with the intent for business use or investment purposes.