San Diego Real Estate Investing

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“Hi Gary. I have a question about real estate investing. Can you buy and flip fixer uppers doing a 1031 exchange?”

***ANSWER:
No.

If you buy a property and sell it a short time later without renting it, the IRS considers it “dealer property” and it’s not eligible for a 1031 exchange.

Please verify with your tax professional.

Buying or Selling San Diego Investment Property?

Licensed since 1984, San Diego real estate broker Gary Kent is a recognized authority on real estate. In addition to selling over 5,500 homes for clients, he has been an expert court witness, trainer of other agents, and he does seminars on home buying, home selling, and investing. Gary has sold homes for The Salvation Army, dozens of major banks, and Fannie Mae, amongst others. You can find Gary on Facebook, Instagram and YouTube.

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