Need 1031 Exchange Recommendation

[Boris Psakhis]

Hello,

I am a new investor and I am ready to sell my first flip which turned out to be a home run (thanks to my mentor -- and informational sites like this one)! :D

I plan to use all the proceeds from the sale for the next flip or two, I think 1031 exchange would be perfect to avoid / delay the capital taxes. Can you guys recommend a 1031 company that you normally deal with?

What type of fees do you normally incur when doing a 1031 exchange? One company I looked at charged $1000 for sell side and $250 for buy side. Another one had a flat fee of $750.

If you going to use 1031 for rehab costs, would additional fees apply or would that all be considered as a single buy transaction?

Any advice and help for my first 1031 exchange would be highly appreciated!

Thank you!

[Bill Exeter]

The prior post is right on the money. You must have the intent to hold your sale and purchase for investment (i.e. not for sale) in order to qualify for 1031 Exchange treatment. You are holding for sale, which will not qualify for 1031 Exchange treatment. Here is a link with more specific details: http://www.exeter1031.com/holding_guidelines_for_1031_exchange_property.aspx