Exchanging Thoughts

The Often Overlooked Benefits of 1031s

Posted by Ellie Trovato on Fri, May 25, 2018

A 1031 exchange allows the seller of a business use or investment property to defer the gain as long as a like-kind business use or investment property is acquired. This Friday Free for All, we will look beyond the deferred gain and review the many benefits of a 1031 exchange.

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Topics: section 1031, benefits of 1031 exchange, tax-deferred exchanges

Diversify, Relocate, Consolidate…Yes, you can!

Posted by Ellie Trovato on Thu, May 24, 2018

Today everyone wants the latest and greatest of everything from homes to cars and electronics. Why not want the same for your real estate portfolio? On this Thankful Thursday, we are grateful for the true diversification of real estate assets a 1031 exchange provides.

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Topics: like-kind property, 1031 like-kind property, Diversification of real estate assets, Relocation, Diversification

Step it up with Estate Planning

Posted by Ellie Trovato on Wed, May 23, 2018

I have started to think about estate planning. I have two children and I want to make sure they are taken care of. One of the many (great!) benefits I have learned about 1031 exchanges is that they are a great estate preservation tool. Today's Wealth Building Wednesday is about using 1031s to build and preserve wealth.

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Topics: section 1031, estate planning, 1031 exchanges

The Role of the Qualified Intermediary and the 1031 CORP. Advantage

Posted by Ellie Trovato on Tue, May 22, 2018

Whether you are playing a game, handling a transaction or running day to day operations in your office, it is always important to surround yourself with dedicated professionals working toward a common goal. The same is true in a 1031 exchange.  Today’s Tuesday Tip will address the role of the Qualified Intermediary (QI) and why it is important to do your research when choosing a QI.

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Topics: section 1031, Role of Qualified Intermediary, 1031 exchange; Role of Qualified Intermediary, regulation of QIs, 1031 CORP., Qualified Intermediary (QI), Qualified Intermediary

Step by Step, Keeping the Exchange Process Simple for You

Posted by Ellie Trovato on Fri, May 18, 2018

Every day we receive calls about how a 1031 tax-deferred exchange works and what steps are involved. On this Friday Free for All, I want to take a look at the exchange process and how simple it really is. In fact, it is simply the sale of business use or investment real property followed by the purchase of like-kind property linked together by paperwork.

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Topics: section 1031, 1031 exchange process, 1031 Exchange, 1031 like-kind property, tax-deferred exchanges

Secure Your Replacement Property with an Earnest Money Deposit

Posted by Ellie Trovato on Tue, May 15, 2018

If you've attended any economic forecast events over the past few months, I'm sure you've heard about the concern with real estate inventory - or lack thereof. I have certainly heard my fair share on this topic, so this Tuesday Tip will focus on getting your ideal property under contract as soon as possible to ensure a successful and timely 1031 exchange.

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Topics: earnest money deposits on 1031 replacement propert, 1031 Replacement property

The Sign is Like-Kind. More on Conservation Easements

Posted by Ellie Trovato on Mon, May 14, 2018

I was driving into work today and saw a track of land with a sign in front of it. This property protected by a conservation easement. Local government, state and non-profits often seek to preserve open space so this type of sign has become increasingly popular over the years, particularly since the 1970s.

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Topics: 1031 exchange and conservation easement, Conservation easements

Personal Property Repealed from Section 1031….But Not Yet!

Posted by Margo McDonnell on Tue, Dec 26, 2017

After talking about it since before the 2016 elections, Congress passed the Republican tax reform bill, HR.1, the "Tax Cuts and Jobs Act" on Wednesday, December 20, 2017 and President Donald Trump signed the bill into law on December 22, 2017. The legislation will take effect January 1, 2018.

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Topics: personal property 1031 exchanges, personal property exchange, 1031 Exchange, 1031 Tax Updates, Tax Reform

Use Section 1031 to Accomplish your 2017 Goals

Posted by Margo McDonnell on Wed, Dec 21, 2016

As the year winds down, many of us are beginning our annual list of resolutions and evaluating our goals.  For some, our goals might include the purchase of a vacation home, diversify our real estate portfolio, increase our revenue stream, retire and maybe even find more time to enjoy life.  Yes, they all sound great but for those that currently own investment property, a 1031 exchange may help you accomplish these goals!

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Topics: section 1031, 1031 Exchange

Tips for a Smooth 45-Day Identification Period

Posted by Margo McDonnell on Tue, Oct 25, 2016

The real estate market remains hot, which is very advantageous to sellers. To help avoid the stress sometimes associated with identifying replacement property within the 45-Day Identification Period, Exchangers are encouraged to look for replacement property once their relinquished property is under contract with a seller. No doubt, the 45 days go by quickly, but using the time between going under contract and the actual closing typically gives you 45-60 days before the timeclock starts clicking. This timeframe is before your 45-Day Identification Period ever starts, which gives you that extra time to navigate the identifications rules.

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Topics: earnest money deposits on 1031 replacement propert, 45-Day Identification Period, 1031 Replacement property