A 1031 exchange or Like kind exchange is defined by section 1031 of the Internal Revenue Code or the IRC. According to IRC if an asset, most often some form of real estate such as land or building is sold and the proceeds of the sale are re-invested in a similar asset then there is … Read more
If you have some money then you may have considered trying to make your fortune with stocks, bonds, and maybe even real estate. The concept is to buy cheap and sell dear, since profit is the name of the game. Before getting into it though, there is something you need to know. These kinds of … Read more
If you are into the real estate business, particularly in renting a property, it is vital that you know what 1031 exchange means. There are some, who have not heard of this exchange. The IRS created this in the year 1990. The purpose of this exchange is to help real estate investors. The benefit one … Read more
If you are a real estate investor who is about to sell a property and use that money to purchase more real estate, make a 1031 Exchange instead of just selling outright. Making every dollar work for you compounds your wealth. Anytime you don’t compound your wealth, you have missed an important opportunity. A 1031 … Read more
Also called a Starker Exchange Trust, a 1031 exchange is generally used by someone who wants to sell an investment property that they own, yet do not want to pay any taxes. A 1031 will allow the seller of the investment property to defer the taxes as long as they purchase another property which costs … Read more