1031 exchange to be Done in Massachussettes
Hi BP it's been a while since posted anything. I'm in the Market to do a 1031 Exchange in Massachusetts if I sell. Quick Question will I be able to-do a 1031 before or after the sale of the Property. Since I'm selling a 4unit looks like I'll be needing to by 6unit or higher. Any Recommendation? Thanks
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
You can’t touch the money. You can’t buy before you sell unless you have enough money floating around to purchase it and pay for a complicated/expensive reverse-exchange. You DO NOT have to buy a 6 Plex because you sell a 4 Plex. You only have to spend more than you net from the sale after closing costs. AND reinvest all “cash” proceeds. You could sell a 50 unit apartment building in the Midwest and buy a mansion on the beach in Florida, or a 1280 acre farm…