Just bought a rental investment property for 500k (property B). For a different reason, i have also decided to sell my other rental investment property also sale priced at 500k (property A). Can I do a reverse 1031 exchange? (Assume mortgage amounts are same). Property B bought on 5th of the Month Property A sold on 25th of the same Month Made the numbers simple enough for illustration purposes. But the situation is real 😀 Is the above situation eligible for reverse 1031 exchange, given that I bought B before I sold A. I will talk to the tax guy and come back and update here. Meanwhile if anyone has done this before pls share info. SDE3 / TC: 376k / 11 yoe / Bay Area Update: This won’t work, at least in my specific case. Property B cannot close before selling Property A. In my case, I bought B without any idea on selling A. Later realized it may be a good idea to sell A and do 1031 — this doesn’t work per the tax guy.
Dude, how come you have time to invest and take care of rentals and/or property manager when you r SDE3 at Amazon
I have property managers they take care of the day today ops. I’m only consulted any imp events — repair approval etc.
Good to know this. Very simple q: how one should find a good property manager?
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same month so maybe you can!