building a home--how long?

[kani-lehua]

thanks nancy for the referral. i know that there have been other recommendations in similar threads for a general contractor.

john: 1) so are you saying that one cannot get an extension for the 1031 exchange?

2) this is my understanding: the exchanger has 45 days from the date the house is sold to identify the replacement like kind property. then 180 days to build/acquire the replacement property. is that correct?

3) aren't there different types of 1031 exchange methods? i thought i read something like "reverse exchange and delayed exchange"?

the home that we want to exchange is held in an llc (bad planning on our part). we most certainly do not want to pay any capital gains tax and prefer to defer as much as possible. also, we still have a mortgage on that property.

thank you. i'm waiting for a response back from the intermediary that we may/may not work with regarding this method. should i require further information, i'll most definitely send a direct email to you.

"chaos reigns within.
reflect, repent and reboot.
order shall return."

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