1031 Exchange Rules - Top 10 Tips
Here are the rules you need to know when doing a 1031 Exchange. Find out more: https://1031exchangelady.com
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0:00 INTRO - 1031 Exchange Rules
0:35 1. Show intent that you are going to do a 1031 Exchange.
0:51 2. Shop early.
1:01 3. Purchase a property of equal or higher debt and equity.
1:29 4. Find loans early.
1:46 5. Like-Kind equals various types of real estate.
2:10 6. Time matters.
2:24 7. Choose a Qualified Intermediary.
2:46 8. Designate replacement properties clearly.
3:06 9. Buy and sell in the same name.
3:25 10. Consult with legal and tax advisors.
WHY DO A 1031 EXCHANGE?
Somebody may have told you that you should do a 1031 Exchange, and here's why. If you don't do a 1031 Exchange with your rental property, you may have substantial taxes. Real quick, a 1031 Exchange is when you sell one property held for investment, and buy another property held for investment, with specific rules and timelines.
ABOUT ME:
If we haven't met, my name is Maxine Golden. I'm a long-time real estate broker, and your 1031 Exchange Lady. I started this channel for small investors like you, so that you can save money on your taxes like the big investors do, under the IRS 1031 Exchange law. The 1031 Exchange has been around for more than a century. It's a bit nuanced, so I started this channel to help you do it more easily.
QUESTIONS:
1. Are you new to 1031 exchanges?
2. Do you have questions about saving money on your taxes when selling your second home, rental property, or house you inherited?
3. Do you need a recommendation of a Realtor in your area that can do the 1031 exchange for you?
-- Ask me your questions in the comments!
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Text Me: (949) 279-4618
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MAXINE GOLDEN:
Accredited Buyer Representative
Certified Residential Specialist
California Broker license No. 00426234
Oregon Principal Broker license No. 201225449