Can You Exchange Your Primary Residence Via Section 1031?
Tuesday, May 09
I am often approached by homeowners lucky enough to have built up extensive appreciation in their primary home. Trying to avoid excessive capital gains taxes, they often want to explore the option of utilizing section #1031. They are often disappointed when I point out that the IRS code explicitl...
How Long to Hold Investment Property in a 1031 Exchange
Thursday, May 04
For all the codification that exists within IRS regulations, one area where Uncle Sam doesn’t provide explicit guidance has to do with holding relinquished property under section #1031. In fact, the tax code doesn’t provide any specific time requirements for holding property before you exchange i...
Timing of Submitting Offers to Purchase in a 1031 Exchange
Wednesday, May 03
In many situations, an investor looking to take advantage of section #1031 on the sale and replacement of some investment property face a dilemma. They list their relinquished property for sale, but it doesn’t sell before they find the perfect replacement property.I am regularly asked what to do ...
The Basics of Tenancies in Common
Tuesday, May 02
A Tenancy in Common (TIC) is a way for two or more individuals to have an undivided fractional ownership interest in a single piece of real property. With a #TIC, each owner has individual rights and obligations related to the property. These rights equal the proportionate share of the owner’s in...
Don't Miss This Important 1031 Exchange Requirement
Friday, April 28
If you are an investor considering a #1031 exchange, there are many pitfalls to avoid to ensure a successful exchange. One of these is the nature of the property you plan to trade.One of the key requirements for a real estate exchange to qualify under section 1031 for tax-deferral is that the pro...
Why Are Self Storage TICs Such a Great Investment?
Thursday, April 27
For the real estate investor looking to move up in terms of the value and ROI of their real estate investment property, considering a co-ownership arrangement can be a very lucrative decision. After all, when multiple investors go in, they can buy a bigger and better property than would be possib...