---
title: Available Property Options for a 1031 Exchange
description: Overview of the property options in a 1031 Exchange.
image: https://www2.1031dst.com/hubfs/Properties.png
---
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# Fortitude's Insights
[1031 replacement property](https://www2.1031dst.com/insights/topic/1031-replacement-property) [DST](https://www2.1031dst.com/insights/topic/dst) [1031 Exchange](https://www2.1031dst.com/insights/topic/1031-exchange)
# [Available Property Options for a 1031 Exchange](https://www2.1031dst.com/insights/available-properties-for-a-1031-exchange)
By [Daniel Raupp](https://www2.1031dst.com/insights/author/daniel-raupp) | 15, January 2021
[READ NOW](https://www2.1031dst.com/insights/available-properties-for-a-1031-exchange)
[](https://www2.1031dst.com/insights/author/daniel-raupp)
[Daniel Raupp](https://www2.1031dst.com/insights/author/daniel-raupp)
Tags: [1031 replacement property](https://www2.1031dst.com/insights/topic/1031-replacement-property) [DST](https://www2.1031dst.com/insights/topic/dst) [1031 Exchange](https://www2.1031dst.com/insights/topic/1031-exchange)
With only 45 days from the sale of a property to identify a like-kind investment, choosing a replacement property in a 1031 exchange has the potential to be a high-pressure decision.
It doesn’t have to be.
Investors have an array of options, and if they have a plan before relinquishing the original property, it’s likely they’ll end up with a replacement property that matches their objectives.
#### What is a like-kind investment?
A [1031 exchange](https://www2.1031dst.com/a-guide-to-your-1031-exchange) requires the proceeds from the sale of real estate investment be reinvested in a like-kind investment of equal or greater value. In return, capital gains and depreciation taxes are deferred.
It’s important to note that “like kind” doesn’t mean exactly alike. Rather the statute sets guidelines as to the type of property that can be included in an exchange rather than specify the properties be similar. For example, a single-family home does not need to be exchanged for a single-family home. A commercial building does not need to be exchanged for another commercial building.
The statute provides a broad interpretation of a like-kind property and the description of the relinquished property does not affect the replacement [property possibilities](https://www.1031dst.com/property-listings-directory/). The new property can be a single-family home, a commercial building, an apartment complex, or even vacant land. In the case of a Delaware Statutory Trust (DST), it might not be a property at all, but rather shares in a trust that then purchases properties on behalf of its investors.
#### **What doesn’t qualify as a like-kind investment?**
Most real estate qualifies as a like-kind investment as long as the property is located in the United States and it’s intended to be a long-term investment.
Personal property such as a vehicle or collectibles, along with stocks, bonds, and other securities cannot be included in a 1031 exchange. The same goes for a vacation home or primary residence.
A [Qualified Intermediary](https://www2.1031dst.com/insights/what-investors-should-look-for-in-a-qualified-intermediary) (QI) must be used to facilitate the exchange, and an experienced QI can assist if there are questions or gray areas.
#### **Investors aren’t confined to a single property**
The definition of a 1031 exchange implies an investor is exchanging one property for another property, but the rules stipulate that multiple properties can be exchanged for a single property or the proceeds from a single relinquished property can be reinvested in multiple properties.
Investors have **45 days** from the sale of the original property to identify up to three replacement properties and have **180 days** to close on at least one of the options. It’s also possible to identify more than three replacement properties as long as the value of those properties doesn’t exceed 200% of the sale price of the original property. It’s possible to identify an unlimited number of replacement properties as long as the investor closes on at least 95% of the value of those properties.
#### **Why consider a DST?**
A [DST](https://www2.1031dst.com/insights/one-easy-step-to-protecting-your-1031-exchange-0)is a long-term investment in which shares, rather than a physical property, are purchased. Investors benefit from having professional management of the investment and daily oversight of the properties. The investor no longer has to worry about middle-of-the-night calls when a pipe breaks or finding new tenants.
DSTs are long-term, illiquid investments meant to last five-to-10 years. If shares need to be sold before the DST ends, shares would need to be sold either to another original investor or on a secondary market, and those options are not always readily available.
#### **What happens when cash out is needed?**
The replacement property in a 1031 exchange must be of equal or greater value of the relinquished property. However, if an investor needs a portion of the proceeds from the original property, it’s possible to take money out, pay taxes on that amount, and reinvest the rest in a partial 1031 exchange.
Identifying a replacement property, or properties, as part of a 1031 exchange can be a difficult decision that takes planning and knowledge of the qualifying factors.
[Contact us](https://www.1031dst.com/contacts/) if you have questions. We always recommend speaking to a financial professional or tax advisor about your individual circumstances.
# [Daniel Raupp](https://www2.1031dst.com/insights/author/daniel-raupp)
Under Daniel Raupp's guidance since 2000, Fortitude Investment Group, LLC has guided clients into over $1 billion worth of securitized real estate investment offerings directly and indirectly, in both the DSTs for 1031 Exchanges and REITs. In the areas of real estate, tax advantaged investments, insurance, retirement, and estate planning, he is able to set up comprehensive, individually tailored client portfolios designed to help remove market volatility and maximize income potential without undue risk.
Inspired by his father’s dedication to customer service and hard work, Daniel directs a range of strategic initiatives in the firm to successfully leverage core competencies in real estate consulting, tax efficient investing, alternative investments, and operational excellence to create customer value. His credentials include a Series 7 General Securities Representative (GS) License, Series 24 Principal of General Representatives License, Series 63 Uniform Securities Agent License, and a Life/Accident and Health Agent License. [Check Daniel’s background on FINRA’s BrokerCheck.](https://brokercheck.finra.org/Individual/Summary/4079107)
This is for informational purposes only and is not an offer to buy/sell an investment. There are risks associated with investing in Delaware Statutory Trust (DST) and real estate investment properties including, but not limited to, loss of entire principal, declining market value, tenant vacancies and illiquidity. Diversification does not guarantee profits or guarantee protection against losses. Potential cash flows/returns/appreciation are not guaranteed and could be lower than anticipated. Because investors situations and objectives vary this information is not intended to indicate suitability for any particular investor. This information is not meant to be interpreted as tax or legal advice. Please speak with your legal and tax advisors for guidance regarding your particular situation.
Securities offered through Concorde Investment Services, LLC (CIS), member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC (CAM), an SEC registered investment adviser. Insurance products offered through Concorde Insurance Agency, Inc. (CIA) Fortitude Investment Group is independent of CIS, CAM, and CIA.
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