Flipping and 1031 exchanges (archive links broken) - Posted by Richard

Posted by Richard on July 24, 2007 at 09:08:23:

That makes sense.

Thank you.

Flipping and 1031 exchanges (archive links broken) - Posted by Richard

Posted by Richard on July 24, 2007 at 07:13:37:

Hi,

I was trying to do the research in the archives, but every link is broken and doesn’t work.

My questions is - is it possible to flip houses with 1031 exchanges.

What are the pros and cons to this.

Thank you.

Richard

no can do… - Posted by David Krulac

Posted by David Krulac on July 24, 2007 at 14:21:44:

Because if you flip houses, then you’re a dealer and
there are 3 things dealers are not allowed to do by IRS code. One of which is do section 1031 exchanges.

Re: Flipping and 1031 exchanges … - Posted by Frank Chin

Posted by Frank Chin on July 24, 2007 at 08:04:20:

Richard:

The long and short of it is, you’ll have to hold it for a while, at least a year or two, so a quick buy and a quick flip via a 1031 is out.

These are requirements for 1031 deferred exchanges. But if you’re clever enough to structure a simultaneous exchange, these requirement does not apply.

Frank Chin