Updated over 5 years ago on . Most recent reply
1031 exchange question
Hi everyone. New member here. Im thinking about getting my real estate license in North Carolina and I am starting to study. I think I would like to work with investors and have a question about 1031. How would one start the 1031 process. If a person says " Hey I want to sell my house and do a 1031 exchange" I don't know how to start the 45 day identify process. I asked some agents at a recruitment/team meeting and they said to co list with someone who has done it before. Any help is appreciated.
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My QI is an attorney. Best bet would be to get hold of Dave Foster on BP as he is a QI and has been very good about advice.
This is an important piece - a good QI protects you from violating the essence of the 1031 which is you defer gains by never, ever, touching any bit of the proceeds from the sale. Get more from Dave.