The IRS code 1031 may be familiar to some of you. It has become a very
common tool to defer capital gains taxes on real estate investments.
The rules are somewhat simple. You have 45 days to identify a property to trade into. You have a total of 180 days to complete the purchase of the new property. You have to make sure your new investment property is greater in value than the one you sold. You also need to replace the debt if you had a loan on the property you sold.
The rules are somewhat simple. You have 45 days to identify a property to trade into. You have a total of 180 days to complete the purchase of the new property. You have to make sure your new investment property is greater in value than the one you sold. You also need to replace the debt if you had a loan on the property you sold.
Of course
the 1031exchange process can be a lot more complicated. This is why we
partner with Qualified Intermediaries and lawyers with specific
expertise in 1031 exchanges.
The
selection of the new property is what Beaubien Investment Group is here
to help you with. We like Net Leased investments, also known as Triple
Nets. There are literally thousands of these properties available for
sale at anytime. The selection process can be a bit overwhelming.
Beaubien Investment Group is here to help.
Please
reach out to us with any question you may have. If you or anyone you
know is looking to trade up please share this post and Call Will
Beaubien at 415–840–2769.
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