Buying or Selling a Home/Investment home

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Question
I am selling an investment home and plan on doing a 1031 exchange.  The home will sell for $150,000 and I would like to purchase a replacement home for $600,000.  Can I do that under the 1031 regulations?  Thank you

Answer
Yes, but you should discuss with a real estate attorney more details.  There are certain time constraints and you need a proxy to hold the proceeds of your existing property sale.  

Limited information: http://www.homesellinginmass.net/search?q=1031

Buying or Selling a Home

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Matt Heisler

Expertise

I can answer questions about buying or selling your home, and questions about the market in Massachusetts, with detailed answers if you ask about my specific area in Mass, Metrowest. I can help with Investment property and the basics of financing. How to construct deals and how to find bargains and how to protect capital. Land, home sales, rehabs, fix and flips, income property are places where I could be able to assist you. I can also answer basic questions about foreclosure, short-sales, 1031 exchanges, and basic questions about how the economy and credit markets are functioning and how that affects you.

Experience

My company sells residential real estate in Metrowest, and we have had a been selling real estate in the area for 20 years. My Blog can be read at Real Estate Sales in Massachusetts

Organizations
Southborogh Rotary

Education/Credentials
Vanderbilt University BA

Past/Present Clients
My client list is private.

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