Need Advice on doing a 1031 Exchange

[Hannah Whisenant]

Brand new to BP, please tell me if this is the wrong forum. I have a rental property that is out of town, a pain to maintenance and not worth the work. Not a ton of equity in it but enough to cash out. I wish we could sell but we will take a huge tax hit from recaptured depreciation. So my next option is to sell and reinvest in a 1031 like kind exchange. After some research this process seems like I need an expert to pull it off successfully. Does anyone know the best way to do a 1031 exchange? Do I need to hire an agency to manage? I’ve read a little about RWH. Anyone recommend them or another agency?

TIA - Hannah

[Wayne Brooks]

@Hannah Whisenant

You have to have a Qualified Individual company to “manage” the transaction. 

@Dave Foster is a regular contributor here, knows everything you need regarding 1031’s and can handle the transaction in any state.