Can You Buy Land With a 1031 Exchange?

Real estate investment is vast, offering numerous pathways for growth, wealth accumulation, and strategic diversification of investment portfolios. Among the avenues available to investors seeking to maximize their real estate investments while minimizing tax liabilities, the 1031 exchange stands out as a potent tool. But how does this process apply to buying land? Can investors really buy land with a 1031 exchange? Let’s dive into the specifics to clarify this intriguing aspect of real estate investment strategy.