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  #1  
Old 01-20-2006, 08:51 AM
highdesert
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Default 1031 to foreign resort property??

Greetings from a real estate investing newbie. As we have US real estate we'd like to dispose of, and have a yen for travel, is anyone aware of the rules, if any exist, regarding 1031'ing from vacant residential property in the US to a legitimate rental property in Mexico?

Thanks up front for any info!
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  #2  
Old 09-04-2006, 02:02 PM
1031store
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For 1031 exchanges, you must trade a US property for another US property, you can not sell and reinvest outside the US...

But there are ways to do a 1031 exchange and re-leverage yourself so that you will have the few extra yen that you are looking for...

I'm launching this site, and you can connect with some of the people here:
1031 exchange resource center

Hope that this helps...
Starke
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  #3  
Old 09-04-2006, 06:01 PM
r8rpwr
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That is a nice looking site, 1031store, I want to check it out in more detail here shortly. We have not done a 1031 yet but possibly will within a year or so, so I am doing some due diligence and research now.

highdesert, sorry to hijack.
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  #4  
Old 10-29-2006, 08:12 PM
wexeter
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Default Foreign for Domestic NOT Like-Kind

You used to be able to do this, but the IRS changed the rules to curb certain abuses that were going on. Today, you can exchange domestic for domestic or foreign for foreign property, but can not exchange between foreign and domestic properties.
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  #5  
Old 11-07-2006, 02:03 AM
wiliam
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Default 1031 Exchange

Any property that is not excluded according to regulations, not acquired for immediate resale and is used for a “like-kind” exchange for another property is eligible for 1031 exchange. The replacement property should be identified within 45 days and acquired within 180 days of the transfer of the relinquished property.
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