Posted by adam on April 25, 2006 at 16:15:40:
forgot about that…got into the whole housing in general thinking and i totally forgot that MH’s are not real estate, thanks for the answer!
probably a stupid question but… - Posted by adam
Posted by adam on April 25, 2006 at 12:00:01:
could a 1031 be done w/ mobile homes?? something like this…“lonnie” a home to someone for a year or two and then try to get financing, if this cant be done, it should be an easy note to sell b/c of the seasoning so say its a 10,000 note 12.75%, say 200/month whatever and you got 1000 down they paid for 12 months and you sell the note for 6-7K cash…could a 1031 be used so that you could buy another mobile or 2 w/o the taxes from the gain? im gonna assume since this has not been talked about anywhere that its not possible but i was wondering?
Thanks,
Adam
Re: probably a stupid question but… - Posted by Berno
Posted by Berno on April 25, 2006 at 14:09:52:
Not an expert, but if you are talking about just a mobile home I would say no. It would be treated more like a car rather than like real estate.