re: 1031 help

I’ve done a 1031 three times. You have to designate that the property is going to be a 1031 when you list it. You personally can never take possession of the money. I use a company out of Miami called Starker. You pay them a couple grand to hold your money. You have 45 days from time of sale to designate what you are going to buy and you have like 190 days to close. Most realtors have 1031 experience and even if they don’t a company like Starker will walk them through the process. The important take away is you start the process before you sell not after.