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Many people know about the primary residence exclusion that allows them to take the first $250,000 in profit ($500,000 if you’re married) tax free after just two years of occupancy. And more and more people are learning about the opportunity to do that repeatedly. But, did you know that you can convert an investment property […]
Think tax-deferred 1031 Exchanges of real estate are too new, sketchy or scary to try? Every week, I talk to investors just like you who are surprised to learn that: 1. 1031 Exchanges have been around longer than IRAs and 401(k)s; 2. 1031 Exchanges are 100% legal; and, 3. 1031 Exchanges can be completed by […]
5 Things to Look For In Your Qualified Intermediary Before you can begin your 1031 exchange, you will have to select a Qualified Intermediary (QI). A good QI can make or break your exchange. To ensure that everything goes smoothly it is important to make sure that your Qualified Intermediary is actually qualified. Here are […]
A 1031 exchange doesn’t have to be an all-or-nothing move. It is possible to complete a partial 1031 exchange that allows you to either take cash out, purchase less than you sold, or both. But there are tradeoffs. Completing a partial exchange creates a tax liability you will want to thoroughly understand before moving forward. […]
Wondering how to transition into multifamily? While you may know that 1031 Exchanges let you defer capital gains taxes and depreciation recapture when you move from one property to another – did you know that you can use this same strategy to consolidate multiple smaller property sales into one larger one without paying taxes? Owning […]
This topic is one on which I have often meditated. As a Christian, how should one tithe on their income as a real estate investor? Gross profits before expenses work differently when it comes to a real estate portfolio. The Bible tells us to tithe on a tenth of our gross income. Do we include […]
Welcome back to our seven-part series on the basic requirements of a 1031 Exchange! In our last article, we discussed the need for the Qualified Intermediary during the exchange. In this, part six, we are going to move on to title requirements. As we’ve now learned, the IRS is very detailed when it comes to […]
If you’ve been following along with our seven-part series on 1031 Exchange basics, you know that we’ve already covered the first three of the six basic requirements. Now, we are moving on to the fourth requirement, using a Qualified Intermediary. The IRS requires the process of a 1031 Exchange to be documented and managed by […]
So far in our seven-part series on 1031 exchange basics, we have discussed the six basic requirements, property being held for investment, and the 45-day identification rule. In the fourth part of our series, we are going to discuss more in depth the third requirement for a 1031 exchange which is the 180-day rule. If you’re curious about […]
If you’ve been following along with our seven-part series on 1031 exchange basics, you’ve already learned about the six basic requirements. We’ve already discussed the requirement of the property being held for investment in part two. Now, in part three, we will discuss the second requirement of a 1031 exchange which is the 45-day identification rule. Continue reading […]