1031 exchange agent?

[Casey S.]

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?

[Steve Babiak]

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.