I am doing a 1031 exchange, and I was wondering if I can exchange it with REO TAPES?

Also, how can I find out, where I can get REO Tapes. I have $1,000,000.00 cash that I can invest.
In Buying Property - Asked by Joseph B. - Jun 5, 2009
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Paul S.
Broker/Agent
Glendora, CA

Joseph
I'm not sure what a REO Tape is? If you mean multiple REO properties you can. Keep in mind you must hold what you purchase for investment. If you plan to flip then you are probably outside the 1031 rules (check with your accountant). Please email me with the definition of a REO Tape. pstoski@yahoo.com

Jun 8, 2009
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Cliff D.
Owner/Investor
Seminole, FL

Joseph,
You shouldnt have any problem doing that. Typically they want to see liquid escrowed funds, which you have.
As it was stated, you will need to hold for a year to get the maximum out of the 1031, but the profit from selling the assets may well offset the tax advantage. All depends on how you play the game and your end goals.
Cliff
gfai@mindspring.com

Jun 8, 2009
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Miles M.
Owner/Investor
Arlington, VA

What is an REO TAPE? Please

Jun 9, 2009
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