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Updated over 12 years ago on . Most recent reply

Casey S.'s profile image
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Casey S.
  • Real Estate Investor
  • from College Station, Texas
  • Member since Feb 19, 2011
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Casey S.'s profile image
Casey S.'s profile image
Casey S.
  • Real Estate Investor
  • from College Station, Texas
  • Member since Feb 19, 2011
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Casey S.
  • Real Estate Investor
  • College Station, TX
18
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105
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Rehabbing & House Flipping

1031 exchange agent?

Casey S.
  • Real Estate Investor
  • College Station, TX
Posted

Im hearing that I have to use a 1031 exchange agent to handle the money inbetween sale and purchase of the next property. Im hearing $1k+ to handle the process. I'm in TX. Does anyone know anything about this and is it required? Does anybody have a link that explains all the details of the 1031 process?

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Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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Steve Babiak's profile image
Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied
Originally posted by Shane Johnson:
... I imagine you guys must be using a 1031 exchange on every single flip?

NO! You cannot use a 1031 exchange on property you purchase where you are only intending to flip. 1031 exchange is for held property.

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