How it Helps Landlords Gain Greater Opportunities
How it Helps Landlords Gain Greater Opportunities
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Tax Deferral: By reinvesting the proceeds from the sale of a rental property into another rental property, landlords can defer capital gains taxes, allowing them to keep more of their investment capital.
Portfolio Growth: This allows landlords to continue building their real estate portfolio without having to pay a large sum of taxes on the sale of one property.
Strategic Investment: Landlords can move their investments to different locations or property types, such as exchanging a small apartment building for a larger one, or a rental property for commercial real estate.
Navigating Your 1031 Exchange Journey
Navigating Your 1031 Exchange Journey
Like-Kind Property: The replacement property must be of a similar nature or character to the property being sold, even if the quality is different.
Qualified Intermediary: A third-party entity that holds the sale proceeds and facilitates the exchange, ensuring that the investor does not have direct access to the funds.
Timeframes: There are strict deadlines for identifying and acquiring the replacement property, typically within 45 days of the sale and 180 days of the sale.
The potential to diversify your investment portfolio—both in terms of location and property type—is virtually limitless! Take advantage of this opportunity to elevate your real estate game today!
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