FLIP TAX ANY OPTIONS? - Posted by BILL IN INDIANA


#1

Posted by Laure on February 27, 1999 at 22:26:21:

You could lease/ Option the property for a year. I have done 5 1031 exchanges but I haven’t tried to do one on a recent purchase. Give your attorney a call and ask him about the holding period. I know you can’t use the 1031 for continual flips. It was recommended to me that I hold my property for two years before selling it again with a 1031. So, I am L/O property that I acquired with 1031 exchanges.

Laure :slight_smile:


#2

FLIP TAX ANY OPTIONS? - Posted by BILL IN INDIANA

Posted by BILL IN INDIANA on February 26, 1999 at 19:56:09:

Just bought a house in Nov. Rehabbed it my total in paurchase 17000 fix-up 14000 think I have someone to lease option, but I would rather do a 1031 exchange so I won’t be taxed. Someone told me I had to hold this property for about a year or I would probably be taxed. Definitely do not want to be taxed. I would rather trade this property for additional rental for more cash flow.